Senators Proposing Restoration of USAirways Pension Plan

[PITbull]

"
For the pilots, the best chance a lot of us have is the Akaka ammendment, and an increase in our Defined Contribution percentage going forward. I am afraid the age sixty change may have torpedoed the PBGC change, and the DC change will have to be contractual.

Just my two cents, Greeter.

Here's my thinking on the subject, U management could for once try to make it right by their employees by taking this opportunity to repair some of the provisions that places the employees at the bottom of the heep. There isn't an airline of employees out there that would embrace USAirways. If the company wants any good-will restored publically, and with employees, they need to start building those bridges asap.

First step, remove Ford and Harrison and all affiliates off the property.

Otherwise, U will continue to have the worst record and reputation on "relations" than any company in recent memory.

What is apparent to me is you couldn't throw all the money in China at the DL creditors and they still didn't want to deal or put their future with USAirways...and that includes having mistrust in Dougie's promised abilities.

Dougie needs to take a lesson in humility.

 

[autofixer]

A320, Let's turn the table on Delta's delagation then. Use Lautenberg's letter against him. The DAL merger attempt is gone, but the letter he wrote to the PBGC is still fresh. It is worth a try. All the PBGC can do is say no.

 

[Walmartgreeter]

Thanks PITTbull, and of course I would welcome ANY gesture that would somehow acknowledge the employees of this airline, other than the silly paintjobs on aircraft. Parker has no intention of replacing any retirements...he is too busy getting rid of our medical coverage.

Best to you, Greeter.

 

[USA320Pilot]

Autofixer,

Autofixer said: "Let's turn the table on Delta's delegation then. Use Lautenberg's letter against him. The DAL merger attempt is gone, but the letter he wrote to the PBGC is still fresh. It is worth a try."

USA320Pilot comments: I agree, which is why I suggested Union R&I personnel explore this possibility. My fear is that Lautenburg's actions were another "below the belt" action by Delta's management team to stop the proposed acquisition of their company.

Since Lautenburg is such a staunch supporter of Delta why did he suddenly become so interested in US Airways? Where was he during the Senate sub-committee hearings to save out pension? I was there, but Lautenburg was not.

Why did he have so much interest in US Airways last week, but seems to be so quiet today?

Regards,

USA320Pilot

 

[longing4piedmont]

My fear is that Lautenburg's actions were another "below the belt" action by Delta's management team to stop the proposed acquisition of their company.

And it worked didn't it? Of course Lautenburg didn't vote to give it away in the first place did he? Did you?

Here is some advice you would do well to consider. All is fair in war......

 

[PITbull]

Autofixer,

Autofixer said: "Let's turn the table on Delta's delegation then. Use Lautenberg's letter against him. The DAL merger attempt is gone, but the letter he wrote to the PBGC is still fresh. It is worth a try."

USA320Pilot comments: I agree, which is why I suggested Union R&I personnel explore this possibility. My fear is that Lautenburg's actions were another "below the belt" action by Delta's management team to stop the proposed acquisition of their company.

Since Lautenburg is such a staunch supporter of Delta why did he suddenly become so interested in US Airways? Where was he during the Senate sub-committee hearings to save out pension? I was there, but Lautenburg was not.

Why did he have so much interest in US Airways last week, but seems to be so quiet today?

Regards,

USA320Pilot

Simple answer...USAirways managment had convinced the employees, creditors, judges, legislators, and public that they were in such dire straights and that they were going over a cliff at any given second a little over 18 months ago..

I find it very peculiar, disingenious to a much larger degree that within 7 months of emergence from BK senior execs were cashing in stock options worth millions, given salary and compensation increases, putting a/c orders in, and one year later, coming up with close to $11 billion of cash and stock monies to buy a legacy and become the largest carrier in the world.

So, why all the interest and new found money for DL?????

Labor still sits with NOTHING 2 years later after all that sacrificing, and the CEO still had his delusions of grandose to put these employees through yet another merger not having fully comsumated the merger project he's in.

 

[700IAM]

Simple answer...USAirways managment had convinced the employees, creditors, judges, legislators, and public that they were in such dire straights and that they were going over a cliff at any given second a little over 18 months ago..

I find it very peculiar, disingenious to a much larger degree that within 7 months of emergence from BK senior execs were cashing in stock options worth millions, given salary and compensation increases, putting a/c orders in, and one year later, coming up with close to $11 billion of cash and stock monies to buy a legacy and become the largest carrier in the world.

So, why all the interest and new found money for DL?????

Labor still sits with NOTHING 2 years later after all that sacrificing, and the CEO still had his delusions of grandose to put these employees through yet another merger not having fully comsumated the merger project he's in.

$26 dollars an hour for a lead line mechanic is a far cry from NOTHING not to mention the health insurance and all other benefits in his employment package. That's just a mechanic. Now add all the other employees. Are they working for [NOTHING] Hmmm?

The employees voted for what they received, fact. They didn't walkout, they stayed.

Some employees b/i/t/c/h on here but stay they did. Labor no longer has teeth or claws and corporate America is exploiting that fact, and whose to stop them, the Bush administration, the God they worship, these boards?

Point is: it's reality and called [business] and all the bashing on here of how wrong it is won't change a thing.

Used in a different context, changes NOTHING whatsoever, so get over it already.

Stuck in the 50's the song goes and so are some ex employees still tasting the bitterness instead of moving on to places they can make a difference. Like falling in love with the dead so is this line of thought written over and over on these boards and to what end? Like a mental health clinic with no doctors in the house.

 

[john john]

All of the unions signed onto the plan so I'm not real excited about all of the coulda, woulda, shoulda that is occurring. Your labor leaders made a decision, US Airways made a decision. You lost they won. They did a better job of selling their position in that more employees bought into their position at voting time.

The agents and fleet service defined pension plan was terminated in 1991 by management and both groups were non-union. The union groups on the property at the time were mute. Corporate American started this along time ago. The unions and legislatures and USA320 should have gotten involved along time ago. I was and am very vocal and involved in restoring a better pension plan very high on my priority list, as it should have been with the unions/legislatures when the tide started. I will never forget standing up in the non-union roundtable meeting and giving upper management a speech about terminating my pension plan! And AL Crellin leaning over to Al Hemenway and whispering who lean over to my regional manager and whisper to him and then a couple days latter my manager giving me notice no the subject. And in a long-term management/labor relationship we discuss the terminating of OUR (lower managements and agents) PENSIONS PLAND. I accused him and lower management of being spineless and who in their right mind would allow their pension plan terminating. He agreed and admitted that lower management was upset about the termination of their pension plan as well. Upper management had a plan and non-union agents were screwed.

 

[Smartest Loser]

USAirways cherry picks what they want and don't want....Pensions are that rotten cherry. Forget about what they signed and promised, the don't honor it.

SL

 

[PITbull]

Truth is US WAS within Days of ceasing operations most likely forever.

29 million or whatever the final number was that executives recieved in bonuses in reality was very little in the overall scheme of things when compared to stockholders losses, Vendor Losses, Airport Authority losses (PIT among a slew of others). To the average Joe/Jane the amount paid out in bonuses seems like a fortune which it is. But when compared with the Billions that vanished into thin air as a net result of two BK's it really is/was/will be a nit.

All of the unions signed onto the plan so I'm not real excited about all of the coulda, woulda, shoulda that is occurring. Your labor leaders made a decision, US Airways made a decision. You lost they won. They did a better job of selling their position in that more employees bought into their position at voting time.

Their are transition agreements on the table now!! US East had a perfectly fine card with which to negotiate with profit sharing. What did they do? GAVE IT AWAY! Just like the pensions. Denying the US west their piece of the profit sharing pie would have turned US into a Labor Relations cesspool and then DP and Hemminway would have had to bargain or risk losing the company to another BK proceeding.

You have this idea that things need to be fair!! NEW FLASH!!! New Study shows Life is not Fair, That You Get What You Negotiate" Film at 11!!!

Bob,

No. They were not in days of ceasing operations. They wanted the employees to buy into that premise. It was Bull shitt and some of us knew it but were out numbered.

I think we've gone over this. And I can't stand when folks on here say that "the unions signed on to this". What choices did they have in a BK environment...TWICE?????

I knew I could make some personal choices if these agreements ratified and if the pensions got terminated. But for many, specifically with families who have immediate needs, they had little choices.

In bankruptcy, if you don't try your very best to get the best deal you can under the bk rules and ratify, the co. WILL and has motions for the judge to abrogate...just what they did with the IAM when the neg. committee would not bring out the Co. lousy proposal in 2004. These dealings are NOT true negotiations...translation: " not an even playing field".

And if my memory serves me right, whether the union leaders agreed to bring out a proposal for a vote with abrogation over their heads or whether they chose not to in the case of IAM...you sat on these boards and critisized BOTH positions. With you, it's your damned if you do; and your damned if you don't.

I sincerely believe that the laws will change and that you can see that Congress is just plain sick of these companies using the BK regs to walk away from their debts, screw anyone that had any contract or business dealings with the said co. in good faith, and emerge from BK making all their execs millionaires. U, United NW, DL, Hawiian Air, Midway, and the slew of them have validated that these companies were using BK laws walk out of good faith agreements. The laws will change.

Thanks for the hot flash...I mean "news flash". For the record...I believe in "balance", fairness is a relative concept.

Just as you still sit on these boards and banter, I have no intentions of drifting off to Oz. I won't forget what happend, how it happened and the reasons given...and I will serve my collegues by ensuring they never forget, the industry doesn't forget, nor the public.

Like it; lump it. I frankly don't give a damn.

 

[AP Tech]

Can anyone name any top exec of any company in BK who came away with absolutely nothing?

 

[delldude]

Can anyone name any top exec of any company in BK who came away with absolutely nothing?

Lee Iacocca?

 

[AP Tech]

Hey Dell, you got me!!! 😉 He did work for Chrysler for $1 yr when he realized what shape the company was really in.......still not sure of what his long term incentive turned out to be??? Kind of reminds me of Lakefield....Oh, I forgot he stated giving up his salary would not have made a difference!!!!

 

[PITbull]

Lee Iacocca took a $1 salary when he was CEO of Chrysler for I believe 3 years, until the company posted its first profit.

If I remember correctly, I don't believe Chrysler went into BK. They just were doing horribly. I think Iaccoa was able to thwart a BK and he restructered the company outside of a bankrupcy. He received employee/labor support because he talked the talk and walked the walk...

The guy made history because of it, and probably could have ran for President of the U.S. if he wanted to during that era. Hell, I think he almost bought Ford Motors at some point.

 

[ussnark]

Truth is US WAS within Days of ceasing operations most likely forever.

Wrong.

Damn, hate to disagree with you. Consider it just one issue.

Absolute BS. Even GECP (major creditor) was quite content with arrangements. Their biggest fear was having to report to the board that they lost over .5 trillion in cash flow per year that they could not replace. Not to mention engine guarentees.

You guys got taken to the cleaners by a charlatan. You got sold a bill of goods. Get over it, morons.