$75,000 buyout

[Bob Owens]

Anybody know how the response has been to the $75,000 buyout that was in the recently passed mechanics contract?

 

[gtd]

I can tell you it affected the TA vote. To be honest, if I was a couple of years older I would of voted yes and took it. Problem is we're still waiting on the details and according to a high ranking manager, Jim Montgomery, they probably won't offer the buyout to anyone until around summer time which would violate the buyout language in this new contract. We're crossing our fingers that the buyout will be legitimate and I am waiting on a response from my local ibt officers to find out what the hold up is. Bottom line is, if a buyout is offered, get definitive language that you can enforce. Not like the ibt brought.

 

[xUT]

I can tell you it affected the TA vote. To be honest, if I was a couple of years older I would of voted yes and took it. Problem is we're still waiting on the details and according to a high ranking manager, Jim Montgomery, they probably won't offer the buyout to anyone until around summer time which would violate the buyout language in this new contract. We're crossing our fingers that the buyout will be legitimate and I am waiting on a response from my local ibt officers to find out what the hold up is. Bottom line is, if a buyout is offered, get definitive language that you can enforce. Not like the ibt brought.

Hey GTD,
Correct me if I am wrong, but isn't it up to 'company discretion'? Which generally means "ER...No'?
Good Luck Guys and Gals!
B) xUT

 

[gtd]

Hey GTD,
Correct me if I am wrong, but isn't it up to 'company discretion'? Which generally means "ER...No'?
Good Luck Guys and Gals!
B) xUT

Here's how it reads in the contract:
Program Application: The program application window will be offered in the first quarter of 2012 and will last a minimum of 45 days. The company, at its sole discretion, may offer subsequent application window(s).

Approvals: The company reserves full and sole discretion on the Early Out approval process. The company will determine the number of Early OUt Plans to be awarded, the effective dates, locations, and order of approvals.