US Airway news - not good

[reepicheep]

What the judge said is the company can't afford the current pension but he's not going to unilaterally throw it out it must be resolved under RLA law. A grievance has already been filed by ALPA and negotiations will likely resume shortly. The pension as we know it is gone but if the company wants to exit CH.11 by March 31 they are going to have to sweeten the pot on their "new" plan.

Too many examples to go into detail, but during the past week in court it was obvious that what we are dealing with at US Airways is a band of liers, thieves, and crooks. Management did not make any friends with the judge.

 

[blzr]

I think they should go after Wolf and Gangwald for concessions back to their date of hire. Those two didn't do ANYTHING for U.S. Airways but paint the airplanes Blue.. Bright Idea!! anyway, USA Today said they each got a $35 million parachute? what's that all about..

Another thing, kinda sad, but true. I overheard alot of talk in Clt on Friday RE that USA Today article. Seems people have LITTLE or No sympathy for those that make $275k/year and are now upset that their pensions are gone. Oh well..

It's still wrong, but I don't think the public really cares, and are a bit miffed about having their tax dollars bailing out a disfunctional airline anyway. I sure hope all this works out, ang good luck to all of us that are affected.

 

[LASvegas777]

the next move for airline MGT is going to stop any type of 401k match.

 

[General Lee]

ALPA has to stand strong on this one---and unfortunately the USAir pilots might suffer. It is not right what they are doing, but their company is sinking. Do you stand up and fight with a good possibility of losing it all, or do you take it like a punching bag and retire with hardly nothing? The news of this has really scared a lot of senior Delta pilots, and the word is that over 1000 pilots nearing retirement have INQUIRED to the Delta Management about what their lump sums might be etc.... Apparently May will be a huge retirement month---which is good news for the furloughs at least.... If the senior guys want to retire with a good lump sum and go golf, good for them--and it will help the junior guys at the same time.

Bye Bye---General Lee

 

[CitationLover]

entitled?

lasvegas - why feel entitled to a 401k match? it is called a benefit and is not written in stone.

fyi - usairways would love to dump the pension (a variable cost structure) for a 401k match (a fixed cost structure). this is why mgmt is shifting most pensions towards cash balance plans (a pension that behaves like a 401k and has more of a fixed cost structure).

alpa won't care until delta or united are affected. that's where alpa's driving force is.

 

[rjcap]

Gen Lee,

What are the stipulations for pilots to elect early retirment?

What is the lead time to take early retirment. i.e. submitting paper work etc. ?

 

[WrightAvia]

HEY ARENT YOU GUYS LISTENING TO ZIGY

It's a sensitive issue, you could put someone over the edge talking about this stuff. I mean after all, these guys are trusted with multi million dollar planes and hundreds of lives. They even used that fact to argue having GUNS in the cockpit...so be nice and talk about nice things. Don't get any body over the edge by talking about current events or financial news on this pilots bulletin board.

 

[blzr]

General Lee

On the contrary, I think Airways is going to be just fine. All the other majors WILL have to go through restructuring at some point. We'll be out of this mess by summer if all goes as planned, and watch from the sidelines while the others go through the same thing. Hopefully yall have taken notes on how management has played us, and can come up with a better defense.

 

[WhiteCloud]

Re: HEY ARENT YOU GUYS LISTENING TO ZIGY

It's a sensitive issue, you could put someone over the edge talking about this stuff. I mean after all, these guys are trusted with multi million dollar planes and hundreds of lives. They even used that fact to argue having GUNS in the cockpit...so be nice and talk about nice things. Don't get any body over the edge by talking about current events or financial news on this pilots bulletin board.

You must have misunderstood my post. Talking about current events is what this place is all about. Asking if "anyone knows a good sniper for hire" and "I hope someone gets the bastard" is not. Pilots are not immune from going over the edge and a 30 year retiree with a stolen pension and a gun can be a real life issue. Not just careless talk on a pilot forum. Those type of comments did stop after my post and the conversation got back on track about issues and news. I think/hope they did listen. Ziggy1

 

[blzr]

Somebody help me out here. Did ALPA really negotiate in secret with US AIR management and agree on pention termination? If that is so, sounds rather underhanded. It was in a blurb in the MONEY section of the USA TODAY. Any union people got any info on this?