Iam Agreement

[CLTFlyer]

Here's the link to the Charlotte Observer story on this (registration required): http://www.charlotte.com/mld/charlotte/10580935.htm

Long and short of it, Judge Mitchell has approved the request to abrogate the IAM contracts if they do not approve the company's last offer, which the IAM has agreed to send out for a vote, with the vote to be concluded by the end of January. If the IAM rejects the company's offer, Judge Mitchell will throw out the contract.

Of note is that the IAM has agreed not to strike while the proposal is out for a vote (according to what the IAM attorneys told the judge in court).

Now it gets really interesting.

 

[700UW]

Let me say this again, there is NO TA for the Mechanic and Related and there is NO TA for Fleet Servive.

Can you not comprehend that?

 

[ITRADE]

Just reported article from the Wash. Post

Judge Acts to Cut US Airways Labor Costs

Notable quote:

He acknowledged the heavy job losses anticipated but said, "Which is worse, that half of the mechanics lose their jobs or that all of the mechanics lose their jobs" when the company would be forced to shut down.

 

[usfliboi]

700 i believe your wrong !!!!!!!!

 

[rmb]

there is NO TA for the Mechanic and Related and there is NO TA for Fleet Servive.

Being only a CP/FF I'm not familiar with the various unions. Can you clarify how many different unions have failed to reach an agreement (sounds like 3?) and whether the court has rejected contracts with all such unions? Thanks

 

[PITMTC]

Let me say this again, there is NO TA for the Mechanic and Related and there is NO TA for Fleet Servive.

Can you not comprehend that?

[post="236249"][/post]​

700 I am pretty sure you have been wrong for a half hour now, but since I am not in the know, I will wait till it is reported.

 

[planejane]

Go to Yahoo Finance under U and read AP article. Jan 21 is not deadline.

 

[planejane]

Go to Yahoo Finance under U and read AP article. Jan 21 is not deadline.

[post="236257"][/post]​

Sorry meant to say NOW instead of NOT

 

[usfliboi]

RMB there are three different groups represented by IAM .. All unions have ratified an agreement, except these three unions represented by IAM. In court today, Judge Mitchell granted the companies request to abbrogate IAM's contract, if an agreement is not reached. Sources are sayin agreements have been reached today, between the company and IAM, although someone on here is in pure denial, because hes in the loop. LOL

 

[RowUnderDCA]

the cnbc newsblurblet at 11:32 am does appear to misleadingly over simplified.. they do use the term 'agreement'

Another question: how does the last U offer that will be voted on differ from what will be imposed? Is there a difference?

 

[Royal Ambassador]

ALEXANDRIA, Va. - A bankruptcy judge on Thursday canceled a collective bargaining agreement between US Airways and its machinists union, providing millions of dollars in annual savings that the airline says will prevent the need for a quick liquidation.

The termination of the contract with the International Association of Machinists would result in pay cuts for union workers ranging from 6 percent to 35 percent and the loss of thousands of union jobs.

There still is a chance, however, that the union and the airline — a subsidiary of US Airways Group Inc. — will agree on a new deal.

US Airways lawyer Brian Leitch said Thursday that the machinists union had agreed to send the company's best final offer to the union rank and file for a vote. If the union accepts US Airways' offer on Jan. 21, the judge's action canceling the contract would be nullified.

U.S. Bankruptcy Judge Stephen Mitchell said that "at bottom, it is clear that the debtor's financial position is so precarious that even with the relief being sought, there will still be grave questions as to whether it can survive."

He acknowledged the heavy job losses anticipated but said, "Which is worse, that half of the mechanics lose their jobs or that all of the mechanics lose their jobs" when the company would be forced to shut down.

Mitchell also approved a request to terminate the pension plans for machinists and flight attendants, as well as a frozen pension plan that was still providing benefits to 28,000 retirees.

The distress termination will free U.S. Airways from nearly $1 billion in future pension obligations from 2005 through 2009.

 

[Harry Callahan]

NBC6 Charlotte is reporting agreement as of this posting.
What kind of "agreement" is this ? It is something they are trying to force up our well you know what.

 

[usairways_vote_NO]

The latest company proposal is going out to vote. It isn't a TA 700 is just trying to make everyone look stupid by putting TA in there then he will come back and say I told you there wasn't a TA lol

"US Airways announced prior to Mitchell's ruling that the machinists' union would send the company's last offer to its membership for a vote, and that tally would likely be completed within two weeks"

Looks like IAM trying all along to escape harm

 

[rmb]

usfliboi: Thank you. I sincerely hope the company can survive. I am a longtime flier and fly USAirways whenever I can. I am somewhat dismayed by the comments blaming customers who take advantage of low fares offered by the company. I am self-employed and naturally look to curb expenses whenever possible. Service does matter, however. I will not fly Southwest as I prefer a seat assignment. On some routes I will fly JetBlue if USAir offers only non-jet service. First class is not critical to me but the clubs are. Just my two cents.

 

[LGA / 037]

there is no agreement

[post="236215"][/post]​

At 10:44am CNBC reported there had been a TA reached for all three IAM groups. Ten minutes later at 10:54a Bloomberg reported the judge had abrogated all three contracts.