Any News On The Oct 12 Hearing?

[jimntx]

Question ...........

If Management does not get the emergency relief, do they ( Primarily RSA ) have the right to start liquidating ?

[post="190357"][/post]​

Not "on the sly" if that's what you are worried about. As I understand it, the company or the creditors would have to petititon the court to convert the Ch. 11 filing (reorganization) to a Ch. 7 filing (liquidation). However, if the emergency relief is not granted, I would expect a conversion to Ch. 7 asap to preserve capital assets. There would be no point in continuing to burn through the cash on hand when it could be used to pay off creditors.

That being said, I don't think that will happen yet. I don't think US Airways has reached the point where protection of the creditors is best served by liquidation. It could reach that point rapidly if the burn rate for cash on hand doesn't slow down, but it's not there yet.

 

[Baret4]

Did I read this correctly?

U.S. Bankruptcy Judge Stephen S. Mitchell POSTPONED a decision on whether to impose a requested 23 percent, or $38 million a month, across-the-board employee pay cut for at least SIX MONTHS. Another hearing is scheduled for tomorrow. Mitchell also did not rule on whether the airline could forgo past-due payments to its mechanics' and flight attendants' pension funds.

Mitchell expressed concern about whether implementing the pay cuts could have an adverse effect on future labor relations, possibly jeopardizing the airline's long-term reorganization plan.

"If I grant these cuts, will it increase the risk of labor strife with [employees] voting with their feet" to leave the company? Mitchell said.



Hmm......

 

[PITbull]

No. You must have misread that some where.

Labor will conclude their testimony on Thursday. We expect a ruling either that day or early the following week.

 

[Baret4]

No. You must have misread that some where.

Labor will conclude their testimony on Thursday. We expect a ruling either that day or early the following week.

[post="190379"][/post]​

I did read this article from another web site. Interesting quotes never the less.

 

[Winglet]

I think Lakefield would be delighted to have employees quit wholesale. That way he can hire newbies at entry salaries, as well as indoctrinate them into obediant drones. If not enough Americans want to take $8 an hour jobs in high cost of living cities, he can petition Mr. Bush to allow even more illegal aliens across the border, then get them an amnesty deal . . . . . since there aren't enough Americans to fill crap jobs.

 

[cavalier]

I think Lakefield would be delighted to have employees quit wholesale. That way he can hire newbies at entry salaries, as well as indoctrinate them into obediant drones. If not enough Americans want to take $8 an hour jobs in high cost of living cities, he can petition Mr. Bush to allow even more illegal aliens across the border, then get them an amnesty deal . . . . . since there aren't enough Americans to fill crap jobs.

[post="190385"][/post]​

Employees are retiring whole sale and that's for damn sure....very big numbers are bailing in the next few months, in January alone the number is 600. This is straight from the horses mouth. So Lakefield will be somewhat delighted.

 

[PITbull]

The company's plan is to dismantle the entire work force. ...make it either miserable to work with these new work rules, or make the wage so low, that you have to decide to give up the pet dog to avoid one more mouth to feed bysides your own.

The more who leave, the happier managment gets. Mission accomplished.

Union busting from here to kingdom come.

Just like I said here two years ago when I started posting. THese are the reasons I will fight this lorenzo managment for invading, infeting, and destroying our airline, our franchise, and driving us away after decades and decades and decades of folks who were committed and loyal to the airline, and now find themselves shoved out the door.

 

[delldude]

US Airways Employees Skip Work Amid Strife

Christopher L. Chiames, US Airways senior vice president of corporate affairs, said employee absentees were up a "bit" this month, but no flights were canceled or delayed because of the absences. Chiames said many of the carrier's 28,000 workers were concerned about the future of their accumulated sick days as the airline begins restructuring its employee holiday and sick time to save money.

US Airways and its labor unions offered a stream of witnesses yesterday arguing for and against the 23 percent pay cuts sought by the airline. Airline consultant Daniel M. Kasper of LECG Corp., testifying on behalf of US Airways, said the carrier's labor costs were the highest among major legacy carriers such as American, Continental and Delta and had to be reduced more in line with low-cost carriers such as Southwest, JetBlue and AirTran.

"US Airways is facing a crisis of potentially lethal proportions with a limited amount of cash and liquid assets," Kasper said. "If it is to avoid the very real threat of liquidation, it has to build up sufficient cash for the winter months, which will give its suppliers and travelers confidence."

See Story

Respectfully,

USA320Pilot

[post="190361"][/post]​

crack my balls.......last month ALPA was screwing U with the same complaint...so don't give your anti-other labor group diatribe....

 

[700UW]

Judge Fears Pay Cuts Might Worsen Relations

By Keith L. Alexander
Washington Post Staff Writer
Wednesday, October 13, 2004; Page E01

US Airways Group Inc. is encountering an increased number of employees calling in sick, and some workers are staging slowdowns as the airline reorganizes its employee benefits and sick leave in bankruptcy court, executives from the airline said yesterday.

In a nearly eight-hour hearing yesterday at U.S. Bankruptcy Court in Alexandria, David M. Davis, US Airways chief financial officer, testified that some employee groups were participating in a "slowdown" and that an entire cleaning crew in Chicago called in sick a few weeks ago.
U.S. Bankruptcy Judge Stephen S. Mitchell postponed a decision on whether to impose a requested 23 percent, or $38 million a month, across-the-board employee pay cut for at least six months. Another hearing is scheduled for tomorrow. Mitchell also did not rule on whether the airline could forgo past-due payments to its mechanics' and flight attendants' pension funds.

[post="190348"][/post]​

You also failed to mention when Mr Davis was asked how many people called in sick he said" he did not know"

When asked is it two people?

He replied "Yes"

Two people calling in sick is not a slow down.

Report ALL THE FACTS, I was present in court yesterday.

 

[firstamendment]

The company's plan is to dismantle the entire work force. ...make it either miserable to work with these new work rules, or make the wage so low, that you have to decide to give up the pet dog to avoid one more mouth to feed bysides your own.

The more who leave, the happier managment gets. Mission accomplished.

Union busting from here to kingdom come.

Just like I said here two years ago when I started posting. THese are the reasons I will fight this lorenzo managment for invading, infeting, and destroying our airline, our franchise, and driving us away after decades and decades and decades of folks who were committed and loyal to the airline, and now find themselves shoved out the door.

[post="190393"][/post]​

I'm 100% with you on this, Pitbull. And you know I was skeptical. All signs seem to point they way.

 

[MCORORES]

I think when we compare our management to Frankie, it is something that they wish about. Now compare our management to Uncle Carl, think that is right on track.

 

[jimntx]

Did I read this correctly?

U.S. Bankruptcy Judge Stephen S. Mitchell POSTPONED a decision on whether to impose a requested 23 percent, or $38 million a month, across-the-board employee pay cut for at least SIX MONTHS.

[post="190374"][/post]​

You read it right, but it is written wrong! It's a badly constructed sentence. The duration of the pay cuts is for 6 months, not the postponement of the judge's decision. Kind of like the title of that new book on the worsening of English grammar, The Panda Eats, Shoots, and Leaves.

 

[RowUnderDCA]

I read Alexander articles with care.

 

[Winglet]

"David M. Davis, US Airways chief financial officer, testified that some employee groups were participating in a "slowdown" and that an entire cleaning crew in Chicago called in sick a few weeks ago."


Such is the ethics and moral compass of American executives now. While technically true, it is hard to conclude that Mr. Davis testimony was anything but a deliberate attempt to mislead the judge. If he admitted that it was only 2, when before he said "he didn't know," it might indicate he's not even a very good liar.

 

[NeedForSpeedNFS]

Court session concluded at 6:00 after AFA had a f/a testify to the court her single mother hood with two children trying to make it on the present concessions, let alone enduring 23%. She testified that she would either sell or house or lose it.

AFA will continue with another witness on Thursday,

Everyone is in on the act to dismantle labor and financially ruin the employees.

[post="190353"][/post]​

PITbull, Please spare us this "single mother with children" crap!!! A choice between selling the house, or losing it, blah!!, blah!! #1, with all due respect to whomever your referring to, there are plenty of other oppertunities for a single mother to "make it". If she is TRULY worried about "the children", and she is single, maybe she should not even be a F/A, which requires her to be AWAY from her kids!!!.........#2, there are many employees in precarious situations, and of course the company is trying as hard as they can to dismantle as much of labor as they can!!! That's why they are in BK!!!! Thats why EVERYONE should be seeking OTHER oppertunities!!! Even IF this place survives, you will all be working for peanuts!!!!!.........GOOD DAY!!!!!