Overspeed
Veteran
- Jun 27, 2011
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- #61
Sounds like you are ready for the arbitration on retiree medical. So why postpone? Get us our money Bob!Bob Owens said:What makes you think they want to do the right thing? They want to rush us into a long term deal that will bring our base rates slightly above Deltas rates non-inclusive of Profit Sharing. Then for the next four years they will take back the small annual increases by increasing what you pay for medical while Delta and United pass us by and get closer to UPS and SWA.
PEOPLE YOU ARE WORKING FOR A VERY PROFITABLE COMPANY FOR HALF COMPENSATION!!!!!!!!!!
I agree the prefunding excuse was a lie. The company claimed in that Town Hall that our matching fund refund was based upon them getting out of having to pay the retirees. Thats absurd because the value of that is around $10 million per month, or $120 million per year. Plus the liability for us, around another $500 million. The liability for the retiree medical, with us terminated would probably come out to around $1.2 billion by the time everyone who was entitled to it died off or used their $50,000. The costs for the plan were likely to soar over the next decade as huge numbers of us reached retirement age. If we were given credit for that then that concession alone would have covered our entire ask of $300 million a year with enough left over to let us keep our Pension.
The company had to know that since the retirees paid for those benefits that they would not get to simply terminate them without it going through the 1113 process and those people becoming creditors, but they tried to squeeze them out of becoming creditors by attempting to take those paid for benefits away through the 1114 process.
The company also knew that in order to get the concessions through that they won with us the Union was telling their members that they would be getting the matching funds and said nothing, in other words agreeing to what the Union was saying. So now the company is claiming that the 1114 process is holding it up, but thats a lie, the 1114 process has been decided and as far as the retirees and the court are concerned its done. So 1114 has been successfully completed. Maybe not the way the company wanted it, but the company did not specify in the language that the only way we would get the matching funds is if they got to screw the retirees out of their money. So its only in the minds of AA management that the 1114 process is not complete and they are holding the money from us and depleting as much as they can in the meantime. Nothing is legally preventing AA from releasing those funds, its their choice and they choose to not release them. There is no requiremnet to keep the fund, except for the few guys under 65 who have a balance of contributions, but all the matching funds from those who have retired have already been released to AA, the only funds that remain are from those who have coverage and are under 65 and our matching funds.
The fact is the Union could not negotiate away the Retiree medical from the retirees as it was a vested contract the day they retired and left the Union. All those people paid for the insurance they were promised, if AA wanted out of that contractual obligation they should have sought to do so during the 1113 process and made them creditors.
Remember its not the retirees getting your money, its AA taking your money to pay their obligations. Obligations that they tried to get out of in an underhanded way and the courts denied. The retirees deserve their benifits, they paid for them, and we deserve our match back as well, as it is we are still getting screwed because for most of us the Total return of contributions and match comes nowhere near the value of what we lost. We each lost at least $50,000 worth of medical coverage and we were not even given the right amount of credit as far as the ask. (Tahnks to Videtich and Mark Richards and the YES voters once again).
The fact is they lied by omission at the Town Hall in LAX on pretty much every response.
Many don't realize why they have these town Halls. Sure they get hit with the pay issues, they expect that and have their BS answers all ready for that, what they are really looking for is to see if we are still engaged, if we are, then they know they don't have to give us squat nor do they have to take the Union seriously. The proper response at these meetings is to completely ignore and avoid operational issues such as training, equipment, even future plans, etc. They have scores of management people there for that and plenty of other ways to get that info such as delay and cancellation reports. Don't make them think that despite your complaints about pay you still really consider yourself so well paid that you are willing to do their job as well as your own. Let them know that the only thing that concerns you is compensation. Thats Wages, benifits and work rules. Once they get you to talk about operational issues, their issues, instead of compensation, our issue, they know that they have succeeded in what they came there for. When you talk about operational issues while our issues get brushed aside with BS they have won. They are laughing at you.