Profit Sharing will shut airline if this happens!

[Mr Eagle]

I think you will find, that, there are alot of east people that literally lost most of everything they had on the companies stock. Not the west's problem really, but a point that may be concidered.

you must be referring to the 401k investment stock, the answer is yes and no. yes we had the option to put chose stock in hp as any mutual fund type of investment, the company only matched 50 % of your contribution, max 6% ( meaning they only gave up to 3%). the stock in the 401k for employees that chose was class b stock, normally about 1/4 the value of the regular and when the merger went down, there was a blackout period in which, while the stock was being converted, no action could be taken with it. the price you see today is 59.01 close

this is from my 401k account as of today for our fund price
LCC Stock Fund
Snapshot
Quick Stats
YTD Return (10/31/2006) 33.11%
NAV (12/06/2006) $14.05
52 Week Low-High (12/06/2006) $6.92-$14.63

as you can see it is no where near the 59.01 you see today. I hate to debunk your charge that we are raking in the cash, besides when the merger was announced most employees sold because the uknown of the merger.

and as in tune with the east about not sharing the profit... if the iam felt they wanted it so bad they should have negotiated for it.. and the lcc stock was open for anyone to buy, so if you wanted to cash in on it, you had your chance...

I find this whole argument laughable because of the West's "dirty little secret". West employess have made many dollars this year in their 401-K plan because they hold AWA stock that was converted to the new LCC stock at the merger - that has more than doubled this year. They complain about a 1 time check that they might not get but have a nice bonus already on the stock. East employees do not have Company stock as an option and have not profited at all here.

Has the Company made it possible for East employees to profit from the Companies turnaround?
I don't think so.

you must be referring to the 401k investment stock, the answer is yes and no. yes we had the option to put chose stock in hp as any mutual fund type of investment, the company only matched 50 % of your contribution, max 6% ( meaning they only gave up to 3%). the stock in the 401k for employees that chose was class b stock, normally about 1/4 the value of the regular and when the merger went down, there was a blackout period in which, while the stock was being converted, no action could be taken with it. the price you see today is 59.01 close

this is from my 401k account as of today for our fund price
LCC Stock Fund
Snapshot
Quick Stats
YTD Return (10/31/2006) 33.11%
NAV (12/06/2006) $14.05
52 Week Low-High (12/06/2006) $6.92-$14.63

as you can see it is no where near the 59.01 you see today. I hate to debunk your charge that we are raking in the cash, besides when the merger was announced most employees sold because the uknown of the merger.

and as in tune with the east about not sharing the profit... if the iam felt they wanted it so bad they should have negotiated for it.. and the lcc stock was open for anyone to buy, so if you wanted to cash in on it, you had your chance...

 

[insp89]

I understand your position, and if you think I'll argue that any union has no faults - well, you'll be disappointed. As far as I'm concerned, every union has warts.

I can only say what I've said before - take any provision that's better in your contract than it is in the East contract (vacation, sick, cost of medical, whatever). How would you feel if the IAM told you that you either got less or paid more so that those covered by the East contract could enjoy an equal benefit?

As for the rest - concessions, fighting the IAM in the representation battle, etc - it's all noise as far as I'm concerned. For example, if your group had willingly embraced the IAM from the start, there no guarantee that you'd have a transition agreement or be under a common contract now. So the situation could be exactly as it is today.

Jim

BoeingBoy Tells it like it is.....