JetBlue establishes $2 Million fund for pilots

[Hamburger]

Given how accounting works, is it $2 million actual dollars or is it just a pile of 285,714 Pillows?

 

[Bavarian Chef]

Given how accounting works, is it $2 million actual dollars or is it just a pile of 285,714 Pillows?

Nicely done.

 

[Hair-on-Fire]

Read it carefully. It actually says that in the event of an actionable event (I don't make this crap up) the company will establish a merger fund from which the pilot group may draw in the amount of 2 million dollars. So only when someone is going to buy/merge/acquire substantially all of our assets will the fund be established. Do you really think the acquiring entity, who will unduobtedly be holding the purse strings at that point, will allow $2 mil in equity to be disbursed to fight the acquisition?

Uh, you must of made it up, because our contract doesn't contain the phrase "actionable event".

The 2 million dollar fund is triggered upon the signing of an agreement or the approval of the board of directors that qualifies as a Transactional Event as defined by the agreement. The acquiring party isn't going to have any control until the necessary governmental (anti-trust) approvals are obtained, and it doesn't really matter if they were "holding the purse strings". JetBlue has a contractual obligation to make the funds available.

Secondly, the funds don't exist for "fight(ing) the acquisition". They exist for the pilots to pay for legal representation during the seniority integration process.

Third, this just show's that pilots will complain about just about anything. Even getting 2 million.

 

[Bavarian Chef]

Uh, you must of made it up, because our contract doesn't contain the phrase "actionable event".

The 2 million dollar fund is triggered upon the signing of an agreement or the approval of the board of directors that qualifies as a Transactional Event as defined by the agreement. The acquiring party isn't going to have any control until the necessary governmental (anti-trust) approvals are obtained, and it doesn't really matter if they were "holding the purse strings". JetBlue has a contractual obligation to make the funds available.

Secondly, the funds don't exist for "fight(ing) the acquisition". They exist for the pilots to pay for legal representation during the seniority integration process.

Third, this just show's that pilots will complain about just about anything. Even getting 2 million.

Uh, we didn't "get" 2 million. We don't have any control over it, and I bet there's no legal requirement to actually pay it.

And I could do a quick staple job for let's say, 250 grand and save the company the "2 million".

 

[Hair-on-Fire]

Uh, we didn't "get" 2 million. We don't have any control over it, and I bet there's no legal requirement to actually pay it.

And I could do a quick staple job for let's say, 250 grand and save the company the "2 million".

No legal requirement to pay it? It's a legally binding contract. In writing.

 

[StarChecker]

Third, this just show's that pilots will complain about just about anything. Even getting 2 million.

2 million for something that might/might not happen.

How about $2,000 to nullify the disgusting health care deductible that I pay RIGHT NOW?

It's another cost neutral number they threw out there to keep the simpletons happy.

Shut up and color.

 

[Bavarian Chef]

No legal requirement to pay it? It's a legally binding contract. In writing.

Until a judge throws the contract out that is.

BTW -- it's kind of fun pushing your buttons for something I can really care less about. Now let's talk retirement, health care, 83 hr industry average pay rates (with low bid divsors), RSL, sick time, crew services or that month long IROP the company's been in. No wait I got it ... how about the FO "sick out" because the ad wizards decided to yank PTS from our "contract"?

Now that's something I could sick my teeth into. Or at least I could if I was feeling better. I have the sniffles -- anyone got that number to crew services?

 

[Hair-on-Fire]

Until a judge throws the contract out that is.

BTW -- it's kind of fun pushing your buttons for something I can really care less about. Now let's talk retirement, health care, 83 hr industry average pay rates (with low bid divsors), RSL, sick time, crew services or that month long IROP the company's been in. No wait I got it ... how about the FO "sick out" because the ad wizards decided to yank PTS from our "contract"?

Now that's something I could sick my teeth into. Or at least I could if I was feeling better. I have the sniffles -- anyone got that number to crew services?

snore...

Yea, you don't care, but you keep posting and posting......right.

PTS is still in your contract, just don't sign the new one if it's that important to you.

Judge throw the contract out? Try to control the paranoia. You keeping all your assets in gold buried in your back yard just in case the people stop accepting dollars?

 

[Bavarian Chef]

snore...

Yea, you don't care, but you keep posting and posting......right.

PTS is still in your contract, just don't sign the new one if it's that important to you.

Judge throw the contract out? Try to control the paranoia. You keeping all your assets in gold buried in your back yard just in case the people stop accepting dollars?

Nah, just bored. And not really sure why this 2 million thing deserves its own thread. Maybe our new bluer than blue canvas uniform shirts deserve their own thread too.

I signed the new contract because the black helicopters told me too.

As for PTS -- I won't have any left by November 1st! PTS for me -- RSA for you. It's a win-win!

You're right though -- judges / management never violate airline contracts.

 

[zonker]

They eliminated PTS?

What do you get paid if you're sick?