Daves Road Show .......

[USFlyer]

----------------
On 8/22/2002 1032 AM

The man isn't being honest at all. He told employees in Orlando that whatever CWA and U comes up with, they'll have to give back wage cuts back to the company. Not even a month ago he told the entire company in writing that he couldn't do that to management due to labor law. So why the reversal? Scare tactics, IMO.
----------------

This has been explained numerous times. Management and other non-union employees are NON-CONTRACT employees, meaning their employment terms are subject to state and federal employment laws. However, with a negotiated contract between the Company and a union (such as CWA), the two parties can negotiate whatever terms they like. If the employees agree to it, then it's ok. Non-union employees do not "vote" on their compensation packages -- they just take whatever is given to them. Drop your union to become "at will" employees and you'll have this same benefit.

I also believe the Company wants to do this to make the pain equal among all unions, hence the July 1 date for ALPA, AFA, IAM, TWU, CWA, etc.

 

[simfixer]

AOG-N-IT wrote "People are acting like this situation is all "Smoke and Mirrors" , with the expressed purpose to knife the bottom out of thier wallets"

It may not be smoke and mirrors, but there is an element of a find the pea under the shell game. A huge number of employees held stock in their retirement funds. Watch as this magicaly dissappears, and then reappears redistributed to other peoples pockets. Not even an I'm sorry about this or any empathy whatsoever from Dave for the thousands of employees and investors he is screwing. It is his crazy aunt that lives in the basement that he is trying to hide. The bottom line is does Dave (and his buddy Bonderman) stand to gain more from the chapter 11 scenario, or from the voluntary restructure that he failed in negotiating? Was that failure a settup? Dave stands pointing the finger at the IAM, CWA and GE Capital, but if we believe what the CWA members tell us, the company seems to be trying to fail in their negotiation attempts, why wouldn't this be true with the others as well? While he was leading us down the path of believing that he was going to succeed in a voluntary restructure, his true intent all along was to fail and bring us through chapter 11 where he and his buddy will gain the most. His road show is pretty convincing and there is a lot of truth to what he says, but famous liars/swindlers always mix a generous amount of truth in with the con job.

 

[MarkMyWords]

Simfixer

First and foremost Dave does not owe you an apology for the loss in the value of the stock. Investing is a dangerous game and unfortunately you lost in this case. All employees lost something investing either their 401K money or personal money in the stock of US. That is the breaks. Have you asked Fidelity - Magellan for an apology for losing 33% + of your retirement account if that is how you chose to invest it? That is the key word there, you CHOSE to invest your 401K or your money in the stock. Dave doesn't owe you anything.

AOG, yet another post that is on the money. I do hope that the majority of the IAM members have you common sense and understanding of the issues and that the people on here that are not thinking clearly are the loud minority. []

 

[AOG-N-IT]

Simfixer, I completely understand the loss of "Employee Held Stock". That same loss is spread across the width of all parties , with a vested interest in U. Here's where the reality of that aspect sets in..or should. The stocks are worthless and history. We need to put that to rest...and get on with trying to re-build our airline. We cannot not change the past...by bucking the present leadership. Siegel and Bonderman , do stand to make money..what "Big Investor" or CEO isn't trying to do that? The Texas Group is gambling on us...so why should they not hope to benefit? They could lose in the future..just like we have in the not to rescent past too. You need to decide for yourself...Are you (A) Going to be part of the future and help this circumstance? or (B) Going to continue to cry over spilled milk and past tense issues , and let this company die for all of us whom choose to remain and try to make it work? I know this is a bit of an over-simplification...but we need to move forward. Bitterness and Ill-will will only deepen the hole we are in. I choose to take my lumps now...and hope for a better tomorrow. The alternative is not too pleasant in the industry of my choice.

 

[N513AU]

----------------
On 8/22/2002 1:49:00 PM

Simfixer

First and foremost Dave does not owe you an apology for the loss in the value of the stock. Investing is a dangerous game and unfortunately you lost in this case. All employees lost something investing either their 401K money or personal money in the stock of US. That is the breaks. Have you asked Fidelity - Magellan for an apology for losing 33% + of your retirement account if that is how you chose to invest it? That is the key word there, you CHOSE to invest your 401K or your money in the stock. Dave doesn't owe you anything.

AOG, yet another post that is on the money. I do hope that the majority of the IAM members have you common sense and understanding of the issues and that the people on here that are not thinking clearly are the loud minority. []
----------------

I'm voting no. Here is why:

1. Vacation reduction. I'll be at 5 days vacation next year. The crappiest companies in America to work for give their employees 10 days off. Midnight shift, bad days off, and now no vacation time to use for family obligations, etc. I would have rather given money up than vacation. The IAM sold us out again.

2. Pay cuts. The company fufilled its "contracts" to Wolf and Gangwal, now its my turn.

3. Layoffs. I'm probably screwed either way and if I'm going down the toilet, I want the rest of the Titanic to go to. At least by voting "no" I can pee in Dave's cheerios just a little more.

4. Concience. I'm not voting for something I think is usless. Especially when the IAM is going to get a pretty big payout for getting it through.

5. The company is still playing games with us. They promising jobs with this MidAtlantic outfit, which is a little like being offered to go to Honduras and work in a sweatshop for a nickle a day. Does Dave and company plan to spinoff MidAtlantic in a few years? Perhaps sell off mainline when things get better. Perhaps the company's current state isn't smoke and mirrors, but I think they're keeping their view of the future rather wrapped up.

6. The unanswered questions. As usual, our Q&A haven't answered anything. If my station gets closed, for example. Our management knows what is being shut down, but they won't tell us.

 

[a320av8r]

Again I say, either pick up an oar and row or jump overboard and get out of our way!!!

 

[1ab]

All the airline anaylst wants U to fail..so Dave really has nothing to lose in U failure if it goes to liquidation...and guess what he will find another job faster than any of us who have to go and look through the want ads and filling out applications etc...
He has a lot to gain turning around a company like U because that accomplishment will make him very valuable to any company ...

The Impression I get from Dave he is a no BS man..

Fact of the matter is the world is not fair we all have to make some sacrifice ..either a small one or a huge one if U fails...so the choice is ours..and when all is said and done you are responsible for whatever you decide so get ready to live with the consequences of your choices.

Lot of people still what the judge to decide their contracts...I really dont know whats better...but I rather support the new management..

Forget what happen yesterday nothing can change it...be aware of what is at stake in the here and now....as what you do today affect the future

Here endeth my sermon.....

 

[oldtimer]

With all due respect, we all must realize that this company's future, all our futures are on the brink. If we don't recognize this now, and move to an agreement, all the name calling, mistrust, and bitterness won't help you find your new job, and believe me, you will be looking for another one. Stop whining, and trying to point fingers, it is not going to benefit you now, nor ever. The positive of all of this now, is that if we dig in, take the painful cuts voluntarily, we can move forward and hopefully turn this company around. We do NOT want a judge to do it for us. Don't believe for a minute you will fair better in court. You will not, that is not a threat from Dave, it is simple truth. I've also been to the road shows and I have never felt that he singled out any union group, nor threatened any union group, he only stated fact. I, for one, am glad they extended the deadline until Sept 10 to have TA with all groups. Otherwise, we could be looking at Chapt 7.

 

[simfixer]

MarkMyWords,

Obviously you don't realize the amount of the company that was owned by the USAirways common stock fund. After selling off aprox 20% of the stock it was holding, it still held almost 30% of the outstanding stock. I never said that Dave owed me an apology, but considering that employees owned almost half of the company, did their part to contribute to what should have been a successful airline, and believed in management, I would think that it would warrant some remark from our new "labor friendly" CEO. Many of the people that invested in U were doing their jobs exceedingly well and expected the same from management, these were some of the best employees, the ones who really believed in the company, not parasitic leaches hiding out in an office with nothing to do. If Dave's actions matched his words, I would be more than willing to give him a chance. As a matter of fact I was on the Dave bandwagon in the beginning trying to convince people to give him a chance and hoping for the best. Then came the failure to keep us out of bankruptcy mostly due to the inability to successfuly negotiate contracts with two of our most important labor groups, the IAM and CWA. While he is trying to squeeze pennies out of these labor groups because of the dire straights we are in, he finds plenty of cash to hand out bonuses to management (who got us into this situation to begin with) and offers them 52 weeks of severance pay, no cash shortage there. Meanwhile the people that really make this company run are taking "labor friendly" retro pay cuts, and "labor friendly" furloughs (definitely without 52 weeks of severance) and possible "labor friendly" jobs at Mid Atlantic (effectively creating a "B" scale). Management got the bonus but we got the bone. I'll still do a great job for U for as long as I have it, we have become accustomed to working around bad management and it can't take away the pride we have in performing our jobs to the highest degree possible, but don't ask me to believe in another of a long line of con men. Dave is a great corporate businessman, I believe he can squeeze blood from a turnip, and he is.

 

[MarkMyWords]

While I did know that the employees of this company did own a large share of the common stock, I also know that they didn't buy the stock out of pride in their company or because they worked hard and thought it would pay off. They did it because they thought they could earn money. Look at all the people that scarfed up shares of stock at around 25-30.00 because they thought the merger was going to happen. It wasn't because they were excited about the merger and believed the combined airline would dominate the skies. It was because they thought they could cash out at 60.00 a share and double their money. Smae thing for anyone, including myself, that bought stock as it hit rock bottom. Why did I buy shares at 4.00? Because I thought it wasn't unreasonable to think that our stock would go up to 8-12-16.00 eventually. Not because I am a good hard working employee that loves his company. Bottomline investing is risky. Dave didn't take us to bankruptcy just to screw you out of your stock. He did it to maintain control of the company versus having our crditors drag us into bankruptcy and losing control. That decision has been touted by industry analysts across the nation as being an extremely smart move that will save the airline and make it a strong competitor.

 

[MarkMyWords]

----------------
Then came the failure to keep us out of bankruptcy mostly due to the inability to successfuly negotiate contracts with two of our most important labor groups, the IAM and CWA.
----------------

Also.....I have a problem with this statement. The negotiations between the IAM and CWA are not what drove us into bankruptcy, and Dave has never said that it was. The primary reason that we ended up in bankruptcy is because our creditors (the people we stopped paying our bills to) were unwilling to negotiate new lease agreements outside of bankruptcy. We were paying for airplanes and office and gate space all over the country that we weren't using. The lessors were threatening to involuntarily force the company into bankruptcy, in which case the executive management would no longer have any control over what happens to the airline. By voluntarily filing for bankruptcy we are able to control our own destiny under the watchful eye of the bankruptcy court. We are able to use our bankruptcy leverage to squeeze our creditors for the best deal possible, or give them their asset back. IT had to be done.

 

[simfixer]

MarkMyWords,
When you wrote ". Not because I am a good hard working employee that loves his company", you explained everything about your slanted perspective. Loyalty and hard work for something you believe in are alien concepts to some, just as hypocrisy and greed are standard operating procedures for others. It is evident by your demeanor, especially on other topics, where you fit in.

Putting the screws to the people actually doing the work = multi million dollar bonus.

Being able to look at yourself in the mirror every morning = priceless.

 

[OldGuyinPA]

Most of middle management has left to work at TSA. Better pay, benefits. They had absolutely no confidence in Crystal City to turn this around. Dave needs to clean house...not just rearrange the dust. Times running out. [:0]

 

[MarkMyWords]

Simfixer

I apologize if you feel that I have a slanted perspective on things, but I think I have my boots planted firmly on the ground. I have a very good understanding of the situation and a very real feel for the pulse of things that are going on. I am a very loyal USAirways employee and stood at the ready to do my part to help turn things around. The job I do daily has far reaching effects on our customers and the revenue they bring to us.

Simfixer. You and others are totally hung up on this 6 million dollar bonus and feel you should vote down your T/A because of it. Let me ask you, did you attend any of Dave's roadshow meetings? Did you hear him speak to this very issue? Did you know that none of this money is going to any employee director level or above? This is not money to Dave, Steve, Al Crellin or Michelle Bryan. This is to the middle managment of the company. People who went without raises just as long as C/S and Ramp agents. Who continued to go without rasies when the above employees were receiving parity increases. The managers are not responsible for the present condition of the company any more the you or I. They met the performance standards for 2001 and were promised bonuses for the hard work they did. The bonus payment was defered due to 9/11 and the resulting financial hardship. Dave promised them that he would pay out these bonuses and he is following thru with his promise. If the same 6 million was promised to IAM or CWA in 2001 for meeting or exceeding set goals, wouldn't you want your money? What would happen if the company refused to pay that money to you? You would hear the screams of how unfair it was all the way to the roof of CCY. There would be work slow downs and bitter employee relations with the company. Since March the rate of "middle management" exodus from the company has tripled. The cost of hiring replacements cost the company 2-3 times what it cost to retain these people. These are people that know the in's and out's of our company already. The don't need to be trained, etc. Again, these are not the people responsible for the position the company finds itself in. It is not a reward to getting us into bankruptcy. Please get all the facts and know what you are talking about before you go stomping around in a tirade.

As for my feelings for my fellow employees, I only wish every one the best that they can negotiate. This whole situation is tough on everyone. IAM feels they are being asked to bear the brunt of the concessions. CWA feels that they are bearing the brunt of the concessions. Everyone is hurting from the give backs, but it has to be done or there will be no company here to work for. All I have said to any employee group is get the facts, understand the reprecussions of your decisions and use your vote wisely. Do not cast your vote out of rage and emotion. Ask yourself if you can live with what is being offered to you. Yes, we will all be tightening our belts and cutting back. But can you afford the alternatives. Many people that have been through bankruptcy from other airlines have shared their experiences with you, told you what you can expect in bankruptcy, etc. There are still people out there that believe that they can do better in front of the bankruptcy judge. They do not understand that they are not negotiating from a point of power and control. The company holds all the cards and has everyone, employees, creditors and other stake holders by the kahoonas. I do not begrudge a single employee what they are able to negotiate for themselves. Pilots, F/A's, Mechanics.....if you were able to negotiate to keep your pensions, God Bless you.

Get the Facts.....become educated.....don't let your emotions get the best of you.

 

[RealityCheck]

For the sake of argument, some one please list some middle management positions that are due for part of the 6 mil bonus..are we talking station mgrs? CCY dept heads? Mgr of Cargo? Marketing and Pricing analysts? VP of CUST SVC? Res office mgrs?Please enlighten us. If people are ditching these positions in droves as alluded to above, then why are we paying an incentive bonus to someone brand new who has not even earned their wings or exceeded their goals as mentioned above? In reality, with our present situation,what depts. or individuals have actually met or exceeded goals other than , yeh you got it,CUSTOMER SERVICE??