PlayTheOdds
Veteran
Well Don you had a hunch you could win this thing as well. You had a hunch that AMFA would lead you in the right direction. You had a hunch that your name was Don Smith
. What a hunch. 
Micro Mgmt.
- Thread starter PlayTheOdds
- Start date
. What a hunch. 
Don Smith
Veteran
Well Don you had a hunch you could win this thing as well. You had a hunch that AMFA would lead you in the right direction. You had a hunch that your name was Don Smith
The fat lady hasn't sung yet...The AMFA secured the highest rate of pay in the industry and doubled our pension. nwa, because of greed, declared war on the union mechanic. YOU are the result. When nwa tires of you they will terminate you. No protection...no recourse.
The name is Don Smith. Its been that for a long time and I don't hide behind some alias or pseudo image. Keep asking...maybe someday you'll run into a SCAB thats heard of me. But the honorable mechanics are gone...they are the ones I associated with.
So AMFA securing the highest rate and doubling their pension wasn't a result of "Greed"? I don't think greed is a bad thing necessarily, since it is truly what drives our wonderful capitalisitic society. I presume you'll say that AMFA's motives were as pure as the driven snow, but it was greed as well. Unfortunately for those mechanics, their "greed" priced them out of the market when it came time for NWA to reorganize and reoptimize its operations.
robbedagain
Veteran
- Joined
- Oct 13, 2003
- Messages
- 11,125
- Reaction score
- 2,676
if you say greed priced them out of the market, then how come greed has yet to price out the entire SCAB AIR MGMT?
groundcontrol
Veteran
- Joined
- Oct 17, 2005
- Messages
- 716
- Reaction score
- 0
I'm with you Don Smith...
South of the M/D Line my Irish Arse....
He's a yankee if I've ever heard one!
Hackman
Veteran
- Joined
- Sep 30, 2003
- Messages
- 3,997
- Reaction score
- 892
No bootlicker, it wasn't greed that AMFA negotiated the best M@R contract in history. Men and women who have the knowledge and skill to sign their life away in an aircraft logbook should be making top dollar, or you get what Scab Air has now, dangerous scab fouled aircraft. Greed is when Dougie Stealin' and friends enrich themselves with bonuses and stock options while the company languishes in bankruptcy. I suppose in your twisted world its acceptable to beat the frontline employees into submission while management stuffs its pockets with cash. Except if your management buddies fall off that tight rope and your employees rebell to where your airline doesn't recover, and slams into the Chapter 7 brick wall.
AMFA didn't price anyone out of the market. The AMFA negotiators attempted to do the impossible, negotiate with thug management bent on revenge. So Scab Air is now losing passengers and having multiple aircraft incidents because the scab airline sucks worse than it ever has. Reorganize and reoptimize Scab Air operations? Yeah, its looking real good. :unsure:
groundcontrol
Veteran
- Joined
- Oct 17, 2005
- Messages
- 716
- Reaction score
- 0
"GREED" my Butt...
Again, How long have you worked for NWA?
How much stock have you used to wipe your butt because thats all it is good for?
How many times have you been promised something only to have it turn out to be a lie?
Ever think that the Company went along with doubling the pension 'cause they knew/know it will end up in the governments hands? Devious thats what "they" are..... 😛h34r: Bandits... 😛h34r: Banditos... 😛h34r:
Theives... 😛h34r: Raiders... 😛h34r: GET THE PICTURE?
Nieve thats what you are.......
jenny@nw
Veteran
South of the M/D dixie line my freckled Irish Arse By the way..... the H#LL you doing in PHL???????? 🙄
Yankee? he's a friggin carpetbagger. An opportunist. His tool bag is probably from carpet remnants from old A/C he pulled up.
That brings up a question I've been meaning to ask. When NWA stock was trading in the $60's, and series C stockholders had the option of cashing in their stock and nearly doubling their concessionary investment, were the unions encouraging their members to sell their stock? What did the union do, if anything, in a financial advisory role at the time?
I'm not being accusatory, or assuming people should have known at the time that the stock price would tank from there, but I was just curious as to how much advice was given at the time.
I guess in my view, NWA did honor their committment on the stock deal. The IAM had the best of both worlds, a preferred stock (unsecured loan) that was convertible to common stock. Obviously, NWA couldn't make good on that loan when it became due (NWA was not legally allowed to make the payments), and the IAM members got their 12% dividend instead, as the agreement warranted.
I hear a lot of complaining about how all of that played out, but it seems to me that all people involved had every opportunity to cash in long before it became due in 2003. I think you can only place the blame for losing out on the original value of that stock squarely on the shoulder of the individual who held that stock until the end. It appears the union made two mistakes. One was passing on the special conversion option in 1994, which would have turned every preferred share into 1.91 common shares (rather than the original 1.36 conversion). The other was not encouraging their members through reminders, or some other avenue, that while the stock was trading higher than their break-even value, they should consider cashing in.
U
UAL_TECH
Guest
Don Smith
Veteran
There were limits on the number of shares you could sell determined by a time constraint...I sold as much as I could when it was $59 per share and made out in the deal. Lots of guys elected to hold onto it. Some thought it was actually underpriced at $60. Doesn't anyone listen to Jim Kramer...NEVER BUY AIRLINE STOCK! I still have some that has since passed the time that I can sell it but the company won't permit it now.
And for the record bootlicker, the union had no advice either way...they stayed out of it.
jenny@nw
Veteran
Sounds like something Gary would say.
