American Airlines and Labor Negotiations

[Buck]

He did not "RELEASE" any information... he simply posted information that you yourself could have gotten from public records available to everyone.
Your argument that this site should be some official information source for the association is ridiculous...
It would be like saying that GM should officially release their quarterly results on bathrooms stalls!

Perhaps however will lack a information directly from the TWU or Associatioin.. He did release info he happen to know about and I thanked him for it.
His answers have even provided internet sites where this info is and I hope he is correct.

 

[PIEDMONT784]

You should be.



Good luck. If the Plan loses AA participants, I can't see how they avoid further cuts to future benefits. Tough spot for you all to be in.

Yaaawwwnnnn....

 

[PIEDMONT784]

Perhaps however will lack a information directly from the TWU or Associatioin.. He did release info he happen to know about and I thanked him for it.
His answers have even provided internet sites where this info is and I hope he is correct.

He IS correct....

 

[Buck]

I concur... this forum is full of intentional agenda driven misinformation... GVP shows that facts, and truth will always prevail.

You just don’t get it.

PBGC doesn’t matter they have zero to do with a frozen plan until it gets in the danger zone. They are pleased as they didn’t want to take on a $17 billion liability.

You don’t get what the company promised you, they promised you a DBP for all your years of service.

Your accrual stopped SEVEN years ago.

And you still didn’t retract your blatant false information.

Why did you tell me that the TWU portion ( my frozen Pension ) was funded at 61% and then state the PBGC has nothing to do with it. Did you find it on your chart?

 

[GVPSPIAM]

Why did you tell me that the TWU portion ( my frozen Pension ) was funded at 61% and then state the PBGC has nothing to do with it. Did you find it on your chart?

Buck you’ve misunderstood.

All of AA’s Pension Funds for all unionized employees, and non-union that are frozen are 61% underfunded.

Both of the TWU AA Pension Plans are around $2 billion underfunded, and all of AA’s frozen plans are over $7 billion underfunded. The PBGC watches the plans but don’t get involved until funding levels are at a certain point.

And my pension information is out of AA’s 10k, I don’t think AA executives and their accounting firms want to break the law and have the SEC and the Feds file charges against them.

 

[WeAAsles]

Buck you’ve misunderstood.

All of AA’s Pension Funds for all unionized employees, and non-union that are frozen are 61% underfunded.

Both of the TWU AA Pension Plans are around $2 billion underfunded, and all of AA’s frozen plans are over $7 billion underfunded. The PBGC watches the plans but don’t get involved until funding levels are at a certain point.

And my pension information is out of AA’s 10k, I don’t think AA executives and their accounting firms want to break the law and have the SEC and the Feds file charges against them.

And they have many years to shore up those funding shortfalls because they’re long term deficits.

I personally won’t even be looking to collect my first check for roughly another 9 years. The average age at the old LAA is about 54 years old.

 

[GVPSPIAM]

And they have many years to shore up those funding shortfalls because they’re long term deficits.

I personally won’t even be looking to collect my first check for roughly another 9 years. The average age at the old LAA is about 54 years old.

You did read this? And we should see in a month their forward looking statements on the pensions.

From last 10k

“
We have significant pension and other postretirement benefit funding obligations, which may adversely affect our liquidity, results of operations and financial condition.
Our pension funding obligations are significant. The amount of these obligations will depend on the performance of investments held in trust by the pension plans, interest rates for determining liabilities and actuarial experience. The minimum funding obligation applicable to our pension plans was subject to favorable temporary funding rules that expired at the end of 2017. Our minimum pension funding obligations are likely to increase materially beginning in 2019, when we will be required to make cash contributions corresponding to determinations made regarding the 2018 fiscal year. In addition, we may have significant obligations for other postretirement benefits, the ultimate amount of which depends on, among other things, the outcome of an adversary proceeding related to retiree medical and other postretirement benefits and life insurance obligations filed in the Chapter 11 Cases.”

 

[WeAAsles]

You did read this? And we should see in a month their forward looking statements on the pensions.

From last 10k

“
We have significant pension and other postretirement benefit funding obligations, which may adversely affect our liquidity, results of operations and financial condition.
Our pension funding obligations are significant. The amount of these obligations will depend on the performance of investments held in trust by the pension plans, interest rates for determining liabilities and actuarial experience. The minimum funding obligation applicable to our pension plans was subject to favorable temporary funding rules that expired at the end of 2017. Our minimum pension funding obligations are likely to increase materially beginning in 2019, when we will be required to make cash contributions corresponding to determinations made regarding the 2018 fiscal year. In addition, we may have significant obligations for other postretirement benefits, the ultimate amount of which depends on, among other things, the outcome of an adversary proceeding related to retiree medical and other postretirement benefits and life insurance obligations filed in the Chapter 11 Cases.”

Of course I read it. What I’m saying is that there is no immediate risk of insolvency which is what people think when they read such a high financial obligation.

The Company “should” have the ability over time to make up for the shortfall as long as the business remains profitable.

And that’s despite the excellerated funding that they will have to begin this year.

 

[ALUS78]

Negotiations continue this week in Ft Lauderdale.

View attachment 13795 View attachment 13796

Wonder how many points in the map by the time we get a contract.Guess it could also be measured on how many hotel rooms and steak dinners.Tim do these negotiators see significant weight gain during the course of these negotiations

 

[cltrat]

I just hope “Fly” doesn’t get swatted,that would be a tough way to go.

 

[WeAAsles]

Wonder how many points in the map by the time we get a contract.Guess it could also be measured on how many hotel rooms and steak dinners.Tim do these negotiators see significant weight gain during the course of these negotiations

Interesting Union meeting today. Our new President discussed some modified proposals we made to the Company on outstanding economic issues. Including wages and profit sharing, medical and retirement in which your IAMPF was mentioned.

 

[Tim Nelson]

I just hope “Fly” doesn’t get swatted,that would be a tough way to go.

screw fly, i better get a transfer to florida pretty soon, its freezing up here.

 

[cltrat]

I couldn’t hang with that cold like that no way, anyone who does I salute you

 

[ALUS78]

Interesting Union meeting today. Our new President discussed some modified proposals we made to the Company on outstanding economic issues. Including wages and profit sharing, medical and retirement in which your IAMPF was mentioned.

Does your new pres no more than what we read in the updates

 

[ALUS78]

Interesting Union meeting today. Our new President discussed some modified proposals we made to the Company on outstanding economic issues. Including wages and profit sharing, medical and retirement in which your IAMPF was mentioned.

Did you ever attend a union meeting with the former president