Anomaly
Veteran
- Jun 2, 2012
- 1,220
- 218
In contrast, TWU after taking industry leading concessions in 2003 for 9 years, just lost the pensions, retirement medical, and 35% outsourcing, along with thousands fo jobs lost.
Great job?
As did virtually every other airline that has gone through bankruptcy since the fall of the CAB. But narrow visioned folks like you will continue to blame the union for the failures of the company.
Maybe extending the SWA agreement in 2004 compared to what the TWU did was a damn smart move.
Great job?
Like MOST other airlines, AA was not profitable at that time. amfa had a chance to seize on an opportunity, but instead they failed to recognize it if the rant from swamt about 2001 is truthful. He states all swa like all other airlines in 2004 was crying poor after the 2001 industry melt down, but after reading the 10K report from the SEC filings, it sure appears as if there was a different story. The Teamsters would not make this mistake. Besides the fact that amfa does not have an organizing department, you do not have a research department either. We have that with the Teamsters and more. We have research and strategies departments that do nothing but pour over the annual and financial reports of the companies we have contracts with. When we are ready to negotiate, WE KNOW if the company is telling us the truth or not.
Here again is my unanswered response to swamt's claim that WN was loosing money. See if you can figure it out. Apparently he could not.
On the subject of amfa's choice to extend the 2004 agreement rather than negotiate it as promised during the earlier campaign;
At year end in 2004 Southwest had 417 aircraft and provided service to 60 airports in 31 states and they wanted to continue growing. Operating revenues were up 10% over 2003 and SWA enjoyed a profit of $313 million for the year. Southwest had contractual obligations and commitments primarily with regard to future purchases of aircraft, payment of debt, and lease arrangements. Along with the receipt of 47 new 737-700 aircraft in 2004 (one of which was leased), the Company exercised its remaining options for aircraft to be delivered in 2005, and several more options for aircraft to be delivered in 2006.
The following two sites are WN's 2004 presentation to stockholders and employees and the second one is their actual 10K Securities Exchange Commission filings.
http://www.airtimes....t/ar/wn2004.pdf
http://www.getfiling...-05-002093.html
swamt, you were apparently mislead in to believing that amfa did something for you, but all along your airline was extending your contract so it could purchase more aircraft among other things.
In fourth quarter 2004, Southwest was selected as the winning bidder at a bankruptcy-court approved auction for certain ATA Airlines, Inc. (ATA) assets. As part of the transaction, which was approved in December 2004, Southwest agreed to pay $40 million for certain ATA assets, consisting of the rights to six of ATA’s leased Chicago Midway Airport gates and the rights to a leased aircraft maintenance hangar at Chicago Midway Airport. An initial payment of $34 million in December 2004 is classified as an intangible asset and is included in “Other assets” in the Consolidated Balance Sheet. In addition, Southwest provided ATA with $40 million in debtor-in-possession financing while ATA remains in bankruptcy, and has also guaranteed the repayment of an ATA construction loan to the City of Chicago for $7 million. And there is more...
Fuel hedging created a gain in 2004 of $455 million and there was a smaller gain of $13 million due to company reorganizing.
Do you want to know how much your officers, board of directors and CEO made during the year amfa extended your contract?
I offer you the sites to check it out for yourself.