UAL/CAL one step closer

[EWR_FO]

The pensions have already been turned over to the PBGC. Annuity payout is guaranteed as long as America stays a nation. Government checks can be cashed anywhere. While it may be less than orginially planned with the ability to work to 65 the damage is minimized.

Concerning lump sums, do you think CAL has that option? I don't.

Next year, Dec. 2009, the regulatory filing of the pensions will be published once again as required by law. And a deficit after a few years of zero funding on a 17 year schedule will terminate the CAL retirement without a PBGC option outside of bankruptcy. Repeat-- "outside of bankrupcy" because CAL is not likely to go bankrupt. The lump sum will disappear far sooner. IRS penalities will be paid instead which are far cheaper, and CAL pilots will be toast. No PBGC money. No lump sum. No annuity.

Good thing CAL is so solid. It will allow CAL to continue its 25 year legacy of screwing over its employees because CAL pilots don't get it just like the ones who sleep in the crew room and then flew the next day.

You obviously have no idea what you are talking about. The lump sum option, technically, can be suspended in the event of an underfunding which also triggers penalties. If that happens, the fund reverts to an annuity pay out until the fund is no longer considered "underfunded". Outside of bankruptcy the fund is currently frozen and there is no way for CAL to make any changes to it.

You may want to check your facts before you spout off on something you obviously know nothing about.

 

[Bob Dylan]

Wow, I can't get over the fact that CAL pilots slept in the crew room, and then went to work the next day!!!!

There is something chronically wrong with that place.

 

[IAHERJ]

There is Bob! This one did not... The guys who did should be ashamed of themselves.

 

[flygirlqt]

The pensions have already been turned over to the PBGC. Annuity payout is guaranteed as long as America stays a nation. Government checks can be cashed anywhere. While it may be less than orginially planned with the ability to work to 65 the damage is minimized.

Concerning lump sums, do you think CAL has that option? I don't.

Next year, Dec. 2009, the regulatory filing of the pensions will be published once again as required by law. And a deficit after a few years of zero funding on a 17 year schedule will terminate the CAL retirement without a PBGC option outside of bankruptcy. Repeat-- "outside of bankrupcy" because CAL is not likely to go bankrupt. The lump sum will disappear far sooner. IRS penalities will be paid instead which are far cheaper, and CAL pilots will be toast. No PBGC money. No lump sum. No annuity.

When you pull this stuff out of your ass, does it give you a sexual thrill?

Good thing CAL is so solid. It will allow CAL to continue its 25 year legacy of screwing over its employees because CAL pilots don't get it just like the ones who sleep in the crew room and then flew the next day.

You also might want to ask where ALPA was the night these pilots were trying to get some backing for the winter operations meltdown.

 

[flygirlqt]

UAL at least knows where it stands on pensions regarding the PBGC

Your retired pilots sure know where they stand. What a nice legacy you have created for yourselves. You all must be so proud watching them wither on the vine.

Tilton is laughing at each and every one of you all the way to the bank.

 

[flygirlqt]

I couldn't have said that any better myself. I for one, actually enjoy working for CAL and though I recognize our contract needs A LOT of work, I know myself and a few thousand other CAL guys are fed up with the status quo and will fight for what we deserve.

Thumbs up! Pay up or shut it down is how I feel.

But thanks again for your concern "lucky"tohaveajob.

He is just another bitter Brain Surgeon. Some of the people I know over there are very concerned that the company has been decimated to the point of never returning to it's industry leading status ever again.

Lashing out is his way of expressing frustration as his world crumbles around him. Or the fact that like Pocohole, CAL made an excellent choice in denying him employment.

 

[contrail67]

Let's not forget this current travesty inflicted upon us was an ALPO negotiated contract. It was practically forced on us by an incompetent and incredibly corrupt union.

I am confident about two things. One is that we will obtain a much better cba than you are saddled with at United. At the rate United is hemorrhaging money and your management is robbing you blind, you'll be lucky to increase your per diem rates. Judging how quickly you spread your legs before during the bankruptcy sham, excuse me I meant process, I am sure he'll be coming back for more. When Tilton gets done bending you over, your FI name will be very appropriate.

Two, no one at CAL wants anything to do with the nightmare named United Airlines. So enjoy what you have and stop worrying about us because we will do just fine. Especially without the tools over there like yourself.

Incidentally, how are those United pilot retirees feeling about their pensions these days? Talk about having no standards. What a hypocrite you are.

If you will do just fine...why did you join the star alliance? The nightmare you speak of (UAL) is the driving force in the alliance that you joined....for a reason.

 

[flygirlqt]

If you will do just fine...why did you join the star alliance? The nightmare you speak of (UAL) is the driving force in the alliance that you joined....for a reason.

I'm not sure why. Larry Kellner called to ask me what I thought of the whole idea but I wasn't in. I would have thanked him profusely for not going ahead with a merger and telling him to keep us at arms length with an alliance.

I believe the drive to Star had a lot more to do with the DAL/NWA merger than anything. I have some suspicions for other reasons but I wouldn't want to lower myself to the level of some of your comrades.

My quote you have above was in the context of a merger and not an alliance. I'll bet it is safe to say few people at CAL are happy to see even an alliance with UAL right now.

 

[contrail67]

It was because CAL did not want to end up out in the cold...they needed to hook up with someone...they had a choice...and did not join up with AA.
CAL has no room to complain about UAL...they had a choice in the matter...period.
There is a reason for all of this...yet to be seen. Read the orginal post...usually alliance partners don't buy fuel together and share ticket counters, and the pilot unions are in an alliance together too....
Don't be surprised if they get soooo close that if they announce a merger...nothing seems different. It is cheaper to do it that way.

 

[flygirlqt]

It was because CAL did not want to end up out in the cold...they needed to hook up with someone...they had a choice...and did not join up with AA.

I was thrilled we initially made the choice not to merge with UAL. I would have preferred AA seeing how they are in better shape financially.

CAL has no room to complain about UAL...they had a choice in the matter...period.

The upper crust of management who make millions off a potential merger will never complain. Only the worker bees watching our careers destroyed and being financially hamstrung from the costly effects of a merger will complain.

There is a reason for all of this...yet to be seen. Read the orginal post...usually alliance partners don't buy fuel together and share ticket counters, and the pilot unions are in an alliance together too....
Don't be surprised if they get soooo close that if they announce a merger...nothing seems different. It is cheaper to do it that way.

Which is exactly why I am in law school right now. Although I think there are different motivations from our management than yours.