USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
Today’s MEC meeting began with Master Chairman Bill Pollock providing opening comments and introductions.
Then the MEC resumed their question and answer session of the Negotiating Committee and advisors regarding the Tentative Agreement (TA). The first speaker was Pittsburgh First Officer Rep John Brookman who spoke for about an hour before Pollock cut him off because he exceeded his speaker time. Brookman attempted to discredit the agreement, but the advisors disputed each of Brookman’s arguments.
The next speaker was Washington First Officer Rep Don Baier. Baier asked reasonable questions to the advisors discussing what would happen "down this road" if this tentative agreement is not sent out to the membership and ratified, in regard to Section 1113(e) and 1113© of the bankruptcy code.
ALPA investment banker and financial advisor Michael Glanzer said, "the lenders will not lend money into civil wars or give money to a company with irrational leaders, if you pass on this agreement - the 'ask' will get a lot worse - if the company does not liquidate."
The New York First Officer Rep Ray Belz made of "point of information" and asked the advisors a question. "Is it not so that the (recent Philadelphia) Council 41 information and chart that is on the Internet misinformation?
Both ALPA bankruptcy counsel Richard Seltzer and general counsel Mike Abram discuss the Philadelphia Rep’s most recent misleading and misinformation campaign and try to explain to the pilots (and to the Philadelphia Reps for the umpteenth time) the difference between S.1113(e) and S.1113© of the bankruptcy code. "The chart in the Philadelphia Rep info sheet is not correct because it compares the S.1113(e) filing (interim cash relief) with the TA. The TA should be compared with the S.1113© filing (which is permanent) and the TA. If the company seeks S.1113©relief, the relief will be a lot worse than the document you have before you," Abram said.
"If this Tentative Agreement is not sent out for pilot ratification the bankruptcy judge would not look kindly to that," Seltzer noted.
Glanzer then commented that "if this tentative agreement is not sent out to the pilots the creditors will liquidate this airline."
Regards,
USA320Pilot
Then the MEC resumed their question and answer session of the Negotiating Committee and advisors regarding the Tentative Agreement (TA). The first speaker was Pittsburgh First Officer Rep John Brookman who spoke for about an hour before Pollock cut him off because he exceeded his speaker time. Brookman attempted to discredit the agreement, but the advisors disputed each of Brookman’s arguments.
The next speaker was Washington First Officer Rep Don Baier. Baier asked reasonable questions to the advisors discussing what would happen "down this road" if this tentative agreement is not sent out to the membership and ratified, in regard to Section 1113(e) and 1113© of the bankruptcy code.
ALPA investment banker and financial advisor Michael Glanzer said, "the lenders will not lend money into civil wars or give money to a company with irrational leaders, if you pass on this agreement - the 'ask' will get a lot worse - if the company does not liquidate."
The New York First Officer Rep Ray Belz made of "point of information" and asked the advisors a question. "Is it not so that the (recent Philadelphia) Council 41 information and chart that is on the Internet misinformation?
Both ALPA bankruptcy counsel Richard Seltzer and general counsel Mike Abram discuss the Philadelphia Rep’s most recent misleading and misinformation campaign and try to explain to the pilots (and to the Philadelphia Reps for the umpteenth time) the difference between S.1113(e) and S.1113© of the bankruptcy code. "The chart in the Philadelphia Rep info sheet is not correct because it compares the S.1113(e) filing (interim cash relief) with the TA. The TA should be compared with the S.1113© filing (which is permanent) and the TA. If the company seeks S.1113©relief, the relief will be a lot worse than the document you have before you," Abram said.
"If this Tentative Agreement is not sent out for pilot ratification the bankruptcy judge would not look kindly to that," Seltzer noted.
Glanzer then commented that "if this tentative agreement is not sent out to the pilots the creditors will liquidate this airline."
Regards,
USA320Pilot