Us Air Stock

[mckpickle]

Actually McPickle, the USAirways pilots and flight attendants ratified a new concessionary contract last thursday. It passed with over 76percent in favor of. All that was left was for Duane at ALPA to sign it. He did and 3 hours later, U filed for protection under Chapter 11. The contract states that no further cost reductions will be seeked from the union groups that agreed to this new contract. This new contract is amedable in 2008.

They are protected now from whatever Usair decides to do. We all will continue to be payed as agreed upon and benefits will not cease.

I really hope your right Im just stating that this EXACT same thing happened with Cal and the Lorenzo boys a long time ago, and its my understanding that ANY agreement, contract whatever is null and void under a bankrupcy. CAL agreed to the wage cuts then as well and a week or two later chap 11 and no more paychecks.

 

[9rj9]

Basically....

the top 76% agreed to get rid of the bottom 24 %, gotta love pilots taking care of each other. Oh ya in 2008 they get a new contract, sounds like Eagle's. Freaking sell outs.

 

[328dude]

That 24 percent were actually the most senior half of the pilot group that had the most to lose. My father retired from CAL last year after 31 years there. I love to hear the storys of the Lorenzo days, (what a prick) but from what he told me, U actaully gave the union groups a chance to protect themselves, were CAL did not.

All this is smoke and glass, what do I know, I'm just a lowely prop pusher.

 

[SDF2BUF2MCO]

For the benefit of the uneducated, does anyone know can a company like USAir(ways) declare bankruptcy and close shop and reopen as a new company? I could sadly see a company wanting to wipe the slate clean and start all over again. This is kind of what Lorenzo did with CAL, etc. but he kept the CAL name. Don't know if there are any laws out there that would prevent such a thing.