ALPA files suit against NWA for bonus program!

[accinelli]

ALPA has filed a suit against NWA for implementing a bonus program -- which has payouts scheduled to employees. How does this many any sense?

They got tired of milking the block times.

 

[Occam's Razor]

Occam,

In a previous post, you wrote this: "I saw that. Another case of an action that might not have legs...but I appreciate the move. CB is codified in the contract. The establishing LOA "expired" 9-months after we started using the system. That was several years ago. It could be tough to prove the system hasn't worked properly."

I think you should get off youir lazy butt and actually look up the LOA before you spout goofy stuff like this from memory!

(sigh)

The LOA, signed 11/17/95 has been largely superceded by subsequent LOA's and contract language...but at least one element of it might have survived:

11. Each party shall have the right to cancel this Letter of Agreement under the following
conditions:

a. In the event that a party who has opposed a proposed change in the computer bidding system is required by an interest arbitration award under Paragraph 5. above to implement such change, such party shall have the right to cancel this Letter of Agreement pursuant to subparagraph c. below.

b. Following the thirty-six (36) month period established in subparagraph 5.b.4 above, or receipt of the last outstanding arbitration award submitted under subparagraph 5.c. above, whichever is later, either party shall have the right to ca.ncel this Letter of Agreement pursuant to the terms of subparagraph c. below.

c. Following receipt of an interest arbitration award as described in subparagraph
a. above, or the later of the two events described in subparagraph b. above, the party intending to cancel this Letter of Agreement shall provide written notice to the other party of such intent within ninety (90) days after receipt of such interest arbitration award or the occurrence of such subparagraph b. event. The computer bidding system in effect on the date such notice is provided shall remain in effect for a period of three (3) full flying months, commencing on the fIrst day of the flying month following receipt of such notice. Effective at the end of such three (3) month period, the schedule bidding system (including schedule completion bid) in effect as of the date of signing of this Letter of Agreement shall replace the computer bidding system.

It's been more than 36-months, so that box is checked...but I dont' recall any arbitrations or awards from arbitrations...so the triggering occurence hasn't happened.

I could be wrong, though. As my previous post proves...

 

[Rez O. Lewshun]

Occam was wrong and Occam corrected him! Way to go Occam!!

 

[Occam's Razor]

Occam,

For us slow pilots please explain what you mean about where the pref. shares go as far as our future.

Preferred shares usually represent the governance of the corporation, or a higher status of payout positioning.

Example: In March, 1998, NWA bought 15% of the common shares of CAL from David Bonderman (Texas Pacific Group), and 51% of the Special Preferred Shares. The Preferred Shares controlled a simple majority of the Board seats based on terms established when they were given to Bonderman in exchange for investing in CAL during their re-org from bankruptcy.

Those shares held governance rights, but only a nominal redemption right.

Our FA's held Preferred Shares as part of the '93 concession deal and chose to retain them as Preferred because they liked the "guaranteed" 8% dividend contract on them. ALPA opted to convert to Common because we didn't trust our management to redeem the shares in the event something went wrong. ["What? ALPA thinking ahead!?"] Our Common shares were unlocked in '96, and with a strike price of $24.50, many of us doubled our money when the stock price ran up to $54 a year later.

Future NWA Preferred shares will indicate who is both "in deep" and "in control" based on the amount and terms. Since we've got a pilot on the BOD, our MEC will know that stuff before it happens.

Gary "Reefer" Wilson will try to keep as much control as possible, so that if/when somebody tries to merge/buy/acquire/etc NWA he will be in the catbird seat, and will receive a dumptruck full of loot for it.

Other management bandits will get a pile of loot too, and that announcement will probably be later this week...or early next week.

It'll be the same perverse type of deal that went down at UAL...money and huzzahs! as a reward for thrashing Labor.

I'm interested in seeing who signs up for the "long haul" and who opts for the cash-and-dash arrangement.

 

[michael707767]

Sorry ERJPusher but you are a liar. There are no 90 seaters at SkyWest. In fact there are no 90 seaters anywhere. The maxed out seating capacity is 86 seats.

actually, you are incorrect. According to the Bombardier website, the standard aircraft if configured with 86 seats, but it is certified for up to 90. In fact, the web site shows a 90 seat configuration.