Not at all surprising if true!!
E.O./S&S and prefunding match
- Thread starter rifbound
- Start date
Not at all surprising if true!!
You might as well be. So what if I don't keep up with all your alias's. So there you go Loser.
Latest on the Company Strategy to shaft the retiree benefits...
Interesting read.. Now they claim they don't want to eliminate the retiree medical, they just want to reduce it to "zero funding" by the company..
How do these guys sleep at night?
http://www.amrrc.net/index.php
Interesting read.. Now they claim they don't want to eliminate the retiree medical, they just want to reduce it to "zero funding" by the company..
How do these guys sleep at night?
http://www.amrrc.net/index.php
Well, bottom line is - we will not get the company match unless the plan is terminated. If AA is allowed to modify, the active employees are screwed yet again. Our well deserved funds will be used to subsidize the current retirees. No, you can't write it off as a charitable contribution either. Ed K has AA doing his bidding now (think of ED as a sort of Darth Vader type). Now all Ed has to do is continue this charade - that he feels the active employees pain; and yet, even in retirement he is still screwing us. Should we expect anything more from a TWU hypocrite?
When the prefunding program was set up it was clear that if the program was ended and the trust was terminated, the employee contributions would be refunded with interest, but that the intended purpose of the employer matching contributions was to pay for retiree medical benefits for TWU represented employees participating in the program or, as the contract states “for the exclusive benefit of participating employees and retirees… ” The contract goes on to specifically identify only one purpose for the money, which was for “continuing retiree medical coverage under an alternative program as may be agreed to by the parties.”
That changed under the last contract in which the employees were repaid their contributions with interest and will be given the employer contributions once the 1114 process is completed. No one on the Retiree Committee has asked for this money and I don't believe the Bankruptcy Court has the power to give it back to American. The only issue before the Court is whether to terminate all of American’s retiree medical obligations. I don’t see why anyone – especially someone who claims to be a trade unionist - would support that. I have plenty of friends who are retired and the APA, TWU, and the APFA should fight for their rights.
Jim Sovitch from the APA, not Ed Koziatek, is the Chairman of the Retiree Committee, and I understand neither Jim nor Ed get paid for their service on the Committee. As for your reading of the contract, while I don’t doubt that AA will try to evade its obligation to both retired and active employees, if the retirees are somehow successful in fighting the Company and preserving some form of retiree medical, I don’t buy your claim that the employer prefunding contribution does not have to be paid. Whatever happens, even if the Company modifies the plan, the present program will end and AA will emerge from the 1114 process. That is all that is required for the payment to be made.
TWU informer
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- Nov 4, 2003
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Again, if the funds are not in question, then why not write the checks? Why wait?
Point is, we have become conditioned to look for an ulterior motive behind every action either the company or the international takes to screw us to serve their own selfish interests. That being said, then my scenario seems entirely plausible. We will be watching with great interest.
As long as you seem to have the inside info on all this info - maybe you can share with us why Jim Little decided to make a unilateral decision on accepting the MOU for the TWU. He is not a very good negotiator. Why wasn't the membership brought in on it? Did his mail order diploma play a role?
As long as you seem to have the inside info on all this info - maybe you can share with us why Jim Little decided to make a unilateral decision on accepting the MOU for the TWU. He is not a very good negotiator. Why wasn't the membership brought in on it? Did his mail order diploma play a role?
Sadly this is very true.
There never was a question over whether they would give the money to AA, the question was would the money be used to satisfy AA's obligations to their retirees?
In other words AA could never get that money directly, and use it to buy airplanes. Our retirees paid for their retiree medical, they have a claim. Retiree medical was not free, and the company isnt asking to simply "modify" the terms, they are seeking to make them pay twice for the same coverage. But if AA is given the ability to use our funds to satisfy their obligations then the net effect is that AA got our money.
I agree, but the prefunding and the retiree medical are two seperate but related issues.
Retirees no longer prefund, they stoped prefunding when they retired, and according to the deal their payments were considered payment in full for life. Why we agreed to language that would tie our funds to the 1114 process is what I have a problem with. The potential is there that the Judge will rule that AA does indeed have an obligation to the retirees, and I agree, because the retirees paid for those benefits up front, over a 20 year period. So the question is will they be made creditors with a chance at getting an equity stake or will they use our funds to buy them off? You seem to be claiming thats not possible but then what was the purpose of including the return of the match conditional upon "successful resolution" of the 1114 process since no matter what the outcome of that process we were losing our retiree medical?
