Questions for ChipmunnChip,

[jetmechline]

[P class=MsoNormal style=MARGIN: 0in 0in 0pt][SPAN style=FONT-SIZE: 11pt; COLOR: #0b3053; FONT-FAMILY: Arial; mso-bidi-font-size: 9.0pt]Chip, [BR][BR]I remember recently reading a statement by the PBGC that they don’t have the authority to grant US Airways proposal concerning the pension fund. Fox news, local Pittsburgh broadcast, moments ago, (10:25 PM 12/23/02) said that the PBGC stated, “ We don’t have the legal power to grant US Airways requestâ€￾ [?xml:namespace prefix = o ns = urn:schemas-microsoft-comfficeffice /][o][/o][/SPAN][/P]
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[P class=MsoBodyText style=MARGIN: 0in 0in 0pt][FONT face=Arial size=3]In your opinion what other options does US Airways have? [BR][BR]Can this be worked out between the company and ALPA?[/FONT][/P]
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[P class=MsoBodyText style=MARGIN: 0in 0in 0pt][FONT face=Arial size=3]If this lack of PBGC authority is true, do you have any ideas who does? [/FONT][/P]
[P class=MsoBodyText style=MARGIN: 0in 0in 0pt][FONT size=3][FONT face=Arial] [o][/o][/FONT][/FONT][/P]
[P class=MsoBodyText style=MARGIN: 0in 0in 0pt][FONT face=Arial size=3]THANKS IN ADVANCE FOR ANY INFO.[/FONT][/P]
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[delldude]

[STRONG][EM]we wouldn't have this dilema if we would have voted AMFA in the first place.[/EM][/STRONG]

 

[A320 Driver]

[blockquote]
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On 12/23/2002 11:54:14 PM DELLDUDE wrote:

[STRONG][EM]we wouldn't have this dilema if we would have voted AMFA in the first place.[/EM][/STRONG]
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[/blockquote]


I'm not sure what this has to do with AMFA. This is a problem with the pilot retirement being underfunded due to the fund's underperformance due to low rates of return. This is not an industry problem, but a nationwide problem if I understand it correctly. I read somewhere that these funds depend on returns in the 6-9% range and this is fallout from our current low interest rates. Maybe Chip can confirm this.


A320 Driver

 

[sabre]

why don't we all just pitch in some more so our pilots could have their pensions? How much more do you need Chip?
It kills me when management and our union tell us we are not subsidizing the pilots pension with these further reductions.
If they would have frozen their pension last month then we wouldn't be talking about this and the mechanics wouldn't be voting no again.

 

[autofixer]

Why shouldn't the other groups subsidize the pilots' retirement fund? The pilots have been subsidizing your jobs since the pay cuts and work rule changes of 1992. You are welcome!

 

[mlt]

Autofixer,[BR]Surely you are not serious that the pilots have been carrying the other employees since 1992? In case you forgot the concessions the other groups gave at the same time as pilots in 1992, (without benefit of negotiators)....All non-union employees had their pensions frozen; vacation & sick converted to the notorious PDO plan; Office workers had their phone calls scrutinized for location and amount of time spent on the phone (keep in mind our employees live throughout the country and often leave urgent msgs for spvs/mgrs to return phone calls, only to discover they want to know about the latest rumor).This is but a few of the cuts our non-union workers have endured since 1992. In addition ALPA has had the benefit of recouping their losses (albeit only for a limited time), however the ground staff has not been as fortunate.

 

[A320 Driver]

Autofixer,
You shouldn't have gone there dude.

A320 Driver

 

[tug_slug]

[blockquote]
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On 12/24/2002 711 AM A320 Driver wrote:

[blockquote]
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On 12/23/2002 11:54:14 PM DELLDUDE wrote:

[STRONG][EM]we wouldn't have this dilema if we would have voted AMFA in the first place.[/EM][/STRONG]
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[/blockquote]


I'm not sure what this has to do with AMFA.
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[/blockquote]

AMFA is the answer to our prayers!

A320 Driver Im surprised you didnt know that.

Why I just read in an article that President Bush doesnt make a move without consulting with the AMFA leadership first. Their not only going to bring the entire airline industry out of its current slump their going to revive the economy and after that its world hunger.

[snip][img src='http://www.usaviation.com/idealbb/images/smilies/11.gif']

 

[autofixer]

A320, I am out of here in a few days, so I don't care. It is how I and a lot of other people who are a whole lot smarter than me feel. It is no more ridiculous to suggest that the pilots are subsidizing all of the other groups than it is to suggest that the pilots' are the cause of this mess. I think it is called illustrating absurdity with absurdity!

 

[A320 Driver]

Is it possible you're both wrong? All this finger pointing is not helping our current situation one bit. It just makes for more hard feelings within the employee groups.

A320 Driver

 

[Formatman]

autofixer-let me see if I can explain this so you'll understand it. "Dave" stood face-to-face with me and said that 50% of the company's financial problem was funding pensions. I'm not sure, but I don't think pilots make up 50% of the workforce. I haven't had a pension for 12 years now, so if "Dave" is taking money from me then it's bound to be funding someone's pension!
Period.

 

[usjacket]

Would Chippie and the pilots take the same retirement as the IAM to save good ole USAirways? NOT!

 

[autofixer]

This pilot is going his own way. No retirement, on my own and very happy about it. I hope everthing works out for everyone...watch out...historically managements come back for a third round of concessions. It is my opinion that they are setting U up with all of this retirement funding talk and of course, most people are too willing to believe that someone else is causing the problem. It is not just U or the airlines. The December issue of 'Money' magazine has an article on this. ( Dave is believable now??? Curious.)

 

[Boomer]

If it is true that 50% of the U problems are Pilot pensions; why not hold off the votes on any further concessions, by ANY LABOR group, until a satsifactory answer can be obtained as to how the pension issue will be resolved?

REMEMBER, there were four issues listed that would bar U from emerging from bankruptcy if they failed:
1) Failure to obtain the ATSB financing;
2) Failure to obtain the RSA financing;
3) Failure to obtain relief from the Pension Obligations;
4) Failure of ALL LABOR GROUPS to ratify Concession Pkg.(2)

Why take another pay cut when it may not save you?

To paraphrase a line from PB: better to have more money in your pocket than less if you're going on the street; and, the price of freedom is risk.

 

[chipmunn]

US Airways, ALPA, PBGC, Senator Specter, and members of the Bush Administration will meet at the White House on Friday, December 27 to discuss the Defined Benefit pension problem.

The Company and ALPA are appealing the PBGC decision to reject the proposed retirement plan restoration funding; however, if the members above fail to over turn the PBGC's decision, I expect Specter to broker an acceptable deal.

Chip