EXECUTIVE BONUSES MAKE ME SICK!

[nbmcg01]

"Worth"? Define how you are using "worth."

Hey, I like to think my labor "worth" at least $1M/hr. But if someone is only willing to pay me, say, $10/hr. for my labor and I keep on showing up to work at that rate (instead of going out and working for the employer out there willing to pay me $1M/hr.), guess what. My labor is "worth" $10/hr.
You always have a choice.

Once again the airline mangt. signed off on the CBAs. That established worth. It is well known that the reason the end date for the concessionary contracts had to be accomplished by 4-14-03 was the release of the financial SEC info. That is beyond shady.
Manipulating the union vote is also under court consideration.

 

[Bear96]

Once again the airline mangt. signed off on the CBAs.

As did the unions.

So you are saying the current CBA establishes the correct "worth"? After all, both parties "signed off" on them.

 

[Wretched Wrench]

It is well known that the reason the end date for the concessionary contracts had to be accomplished by 4-14-03 was the release of the financial SEC info. That is beyond shady.

AA had a lot of money on the line there. They had to either pay off or stampede the union leadership to settle before the SEC information came out. AA had already delayed the disclosure as long as they could. "Conveniently" for AA, the TWU leadership "appeared" to be unaware of this.

 

[nbmcg01]

As did the unions.

So you are saying the current CBA establishes the correct "worth"? After all, both parties "signed off" on them.

That is why it is called a Collective Bargaining Agreement. I find it offensive that negotiated contracts are held hostage to the cry of "BK". There is absolutely no incentive for the Co and the Union to reach a realistic agreement when both sides know that the Co has the ability to cry poverty and have the Courts abrogate the agreements. When a CBA is "signed" the CO is the first to go to the press with a "this is going to cost us x amount $$s". Funny how that figure drops considerably when it comes to concessions. If anything the "value" should have increased not decreased. That is why a
particular item is a "high want" for the Co. For the Union to sign off for anything less that the "value" is plain stupid or lack of negotiating savvy. And as for the concession vote, does anyone REALLY think it was honest and above question?

It is one thing to want to assist the Co. in hard financial times but another to find out that the concessions have done nothing more than pay for the executive bonuses. And of course do away with decades of negotiated work rules. I agree that many of the work rules (for the flight attendants) could be reworked to be both mangt. and worker friendly. Unfortunately, the Co. is unwilling to consider no cost or cost neutral "quality of life" enhancements in exchange. Wouldn't it be "nice" if both sides would quit playing silly games and hammer out a real contract. The Co. would be happy with everyone at new hire wages, flying 100 hours, and spending all (or at least a portion) of the month on reserve. That isn't going to happen so, next?

And finally, AA has always taken such pride in being an industry leader. Why should the employees expect anything less?

 

[Ken MacTiernan]

"Worth"? Define how you are using "worth."

Hey, I like to think my labor "worth" at least $1M/hr. But if someone is only willing to pay me, say, $10/hr. for my labor and I keep on showing up to work at that rate (instead of going out and working for the employer out there willing to pay me $1M/hr.), guess what. My labor is "worth" $10/hr.
You always have a choice.

Worth = Responsibilities

Choice = Using an alias or not

 

[AMFAMAN]

"Conveniently" for AA, the TWU leadership "appeared" to be unaware of this.

But yet the twu even used the company's favorite ECLAT firm to check the books and sell the concessions, and even the company's firm didn't see the SERPs.

What was Captain Randy Babbitt's firm looking at? Why didn't the twu sue Captain Randy for not finding this prior to the vote? And finally, why is a former AA manager with a fake masters degree in charge of my union?

 

[eolesen]

But yet the twu even used the company's favorite ECLAT firm to check the books and sell the concessions, and even the company's firm didn't see the SERPs.

That's because the SERP dates back to the 1980's.... The only thing that was in the SEC disclosure was the fact that it had been funded for the very first time.

 

[Wretched Wrench]

The only thing that was in the SEC disclosure was the fact that it had been funded for the very first time.

Perhaps that is why AA did not file by the SEC deadline and felt compelled to get a settlement with the unions before the SEC forced them to full disclosure. Even financially-unsophistacated little old me smelled a reat when I did not see AA's information in the WSJ along with almost every other company.

 

[eolesen]

Perhaps that is why AA did not file by the SEC deadline and felt compelled to get a settlement with the unions before the SEC forced them to full disclosure.

The cynic in me agrees with you, but the other side of the coin is that the bankruptcy filing still wasn't out of the question by then. One of the more astute SEC specialists can correct me on this, but had the TA's been rejected by a wide enough margin,filing for bankruptcy would have eliminated the need for the SEC disclosure.

 

[Bear96]

That is why it is called a Collective Bargaining Agreement. I find it offensive that negotiated contracts are held hostage to the cry of "BK". There is absolutely no incentive for the Co and the Union to reach a realistic agreement when both sides know that the Co has the ability to cry poverty and have the Courts abrogate the agreements.

Sorry, when did AA file BK? Did I miss it?

Worth = Responsibilities

OK.

"I am responsibilities $10M/hr."

No, that doesn't quite make sense.

Choice = Using an alias or not

Yes, that is one choice of many in life to make.

Not sure what it adds to the discussion though???

 

[Ken MacTiernan]

bear96,

OK.

"I am responsibilities $10M/hr."

No, that doesn't quite make sense.


What are your responsibilities again?

 

[Wretched Wrench]

(Wretched Wrench @ Mar 25 2007, 03:47 PM)

Perhaps that is why AA did not file by the SEC deadline and felt compelled to get a settlement with the unions before the SEC forced them to full disclosure.

The cynic in me agrees with you, but the other side of the coin is that the bankruptcy filing still wasn't out of the question by then. One of the more astute SEC specialists can correct me on this, but had the TA's been rejected by a wide enough margin,filing for bankruptcy would have eliminated the need for the SEC disclosure.

What I meant was that I suspect AA knew that once the SEC info came out about the SERP funding, a concessionary contract was less likely to fly. So it was urgently imperative to either pay off the union leadership or stampede them with a bankruptcy threat before they had to file, since they could delay no more.

 

[MCI transplant]

As did the unions.

So you are saying the current CBA establishes the correct "worth"? After all, both parties "signed off" on them.

:angry:---- Hey guy!! Your talking about the "Best Union a Company can buy!"

 

[Imagolfer]

Say what you want aout Arpey, but what Tilton is getting at UAL is criminal. Rob your employees of their pensions and then to profit like this is ashame. He actually has a driver to drive him a couple of miles from his downtown home to his office :down:

The chairman, chief executive and president of UAL Corp., parent of United Airlines, received compensation worth $39.7 million in 2006, the company's first year as a standalone company after emerging from three years of bankruptcy protection.

http://www.forbes.com/feeds/ap/2007/03/26/...?partner=alerts