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On 12/1/2002 11:12:28 PM chipmunn wrote:
To All parties
Pine Bob asked: Has senior management gone through Crystal City yet and completed two rounds of staff cuts?
Chip answers: Yes.
AOG-N-IT Replies...but at what levels Chip?...and was the desired affect achieved?...sure it was...it shed the company of staff positions...not staff officers
Will the company put profit sharing on the table in exchange for cuts/work rule changes?
Chip answers: Management's November 26 plan offers profit sharing. Specifically, the company offered "enhanced profit sharing" returns in exchange for participation in $200 million "modified restructuring program" as follows:
Any year in which pre-tax profits exceed 7 percent, 50 percent of such profits in excess of 7 percent will be distributed to participating employees.
-capped at 100 million
-program ceases at end of loan period
-50 percent paid as lump sum payments-50 percent paid to defined benefit pension plan above any minimum contribution requirements, but not in excess of maximum tax deductible contributions, under ERISA
Pre-tax defined as including extraordinary and one-time adjustments
AOG-N-IT Replies...Smoke and Mirrors for more binding verbage to be held hostage or re-negotiated at the companies needs or whim....This is simply an" Un-Safe Gamble"
Piney Bob asked: Has anyone from the Union side ever actually been allowed to look at the books?
Chip answers: Yes, in regard to ALPA the union had its financial advisors and ALPA International Economic & Financial Advisors review the books. In addition, all of the unions had the opportunity for its leaders and advisors to review the books. It is my understanding all of the labor leaders agree with the company's financial forecast and agree there is a financial problem.
AOG-N-IT Replies....and thier agreement with the companies figures accomplished exactly what?..or prepared it's paying members for exactly what? Right !! Giving more!!
Piney Bob asked: Will the company allow the various groups to form "Employee Involvement" Teams in order to REALLY INCREASE Productivity?
Chip answers: The restructuring agreements created a Labor Advisory Committee (LAC). Contract language said the parties shall form a LAC, consisting of one designee from ALPA, AFA, IAM, CWA, TWU and non-contract employees fro the purpose of addressing issues of common interest among all employees at US Airways. The LAC or its designees shall meet with senior management on at least a quarterly basis to discuss the Company's financial and operating results and its projections, plans, and strategies. The Company shall solicit, review, and incorporate the input from the LAC into its projections, plans and strategies. The LAC shall have the authority to request a special meeting at any time to discuss issues of mutual concern.
AOG-N-IT Replies...More Talk...No Action....Quarterly meetings for day to day problems that require thought and immediate resolve. Talk about a Pig and a Poke!!!
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