UAL/CAL one step closer

[ATRCA]

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.

UAL guys seem to want the merger, CAL folks seem to be completely opposed......................? How come...I wonder who feels they have the most to lose?

 

[luckytohaveajob]

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.

Fact: CAL is funding on a 17 year schedule.

In case you don't know, that means they are not funding the annual requirements anywhere close to annual liabilities. Both the lump sum and the annuity will be suspended but not terminated.

They are zeroing out the fund. However the fund can not go bankrupt without the company going bankrupt, but since the new 2006 Pension Reform Act has allowed a 17 year schedule there is no need to go bankrupt. All CAL has to do is continue the underfunding until there is no more money left and then pay the IRS penalties along the way which are small.

A zeroed out pension fund is something the PBGC doesn't take over. The PBGC takes over terminated funds that are less than 80% funded, not 0% funded. Running it to zero does not make it a terminated fund. Just a zeroed out frozen fund the IRS will apply minimal penalties too at tax time.

CAL pilots will get nothing from CAL and nothing from the government. But then they are accustom to getting nothing if they sleep in crew rooms as layovers.

 

[Mr.B]

UAL guys seem to want the merger, CAL folks seem to be completely opposed......................? How come...I wonder who feels they have the most to lose?

The ONLY reason a UAL guy/gal may want to merge with CAL is in hopes of getting rid of Tilton. Thats it. Period. CALs not that special.

 

[pipe]

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.

Speaking of legacies, have we collectively thanked you guys for Prater lately? GET IN MY BELLY!

 

[EWR_FO]

Fact: CAL is funding on a 17 year schedule.

In case you don't know, that means they are not funding the annual requirements anywhere close to annual liabilities. Both the lump sum and the annuity will be suspended but not terminated.

They are zeroing out the fund. However the fund can not go bankrupt without the company going bankrupt, but since the new 2006 Pension Reform Act has allowed a 17 year schedule there is no need to go bankrupt. All CAL has to do is continue the underfunding until there is no more money left and then pay the IRS penalties along the way which are small.

A zeroed out pension fund is something the PBGC doesn't take over. The PBGC takes over terminated funds that are less than 80% funded, not 0% funded. Running it to zero does not make it a terminated fund. Just a zeroed out frozen fund the IRS will apply minimal penalties too at tax time.

CAL pilots will get nothing from CAL and nothing from the government. But then they are accustom to getting nothing if they sleep in crew rooms as layovers.

You are so far off base it's comical.

 

[ATRCA]

The ONLY reason a UAL guy/gal may want to merge with CAL is in hopes of getting rid of Tilton. Thats it. Period. CALs not that special.

I never said CAL was all that special. The fact is though that the UAL folks seem to be very keen on merging with CAL. CAL folks seem to want nothing to do with it. The UAL folks should move to rid themselves of Tilton. Absent a merger, what is UAL's plan to become viable? How can a merger be a business plan?

 

[Sonny Crockett]

UAL/CAL Merger announced in 2009.

My bet is April-June-July timeframe........

I can't wait to fly with Capt Kahn

LOL!!!!!!!!!!

http://www.youtube.com/watch?v=r1L07z6D91g

Is that you Flygirl? Math is hard huh? LOL!

 

[flygirlqt]

UAL/CAL Merger announced in 2009.

My bet is April-June-July timeframe........

I can't wait to fly with Capt Kahn

LOL!!!!!!!!!!

http://www.youtube.com/watch?v=r1L07z6D91g

Is that you Flygirl? Math is hard huh? LOL!

Not me. But it would probably be a good idea for you to fly with her. As a striking CAL pilot perhaps she could instill some ethics into a large number of you over there that felt it was ok to screw your retirees out of their pensions.

I just have to ask you Sonny, it seems to me that anyone so in love with a has been tv character to use it as an avatar and screen name must be looking to make up a personal deficiency. Small penis syndrome?

 

[flygirlqt]

You are so far off base it's comical.

Let him keep talking, it is actually pretty funny. Maybe lucky is just bitter about his own pension that he has to comically attempt to knock down other plans?

 

[flygirlqt]

The ONLY reason a UAL guy/gal may want to merge with CAL is in hopes of getting rid of Tilton. Thats it. Period. CALs not that special.

UAL's only problems right now are Tilton? LOL..OK.