The "Good" News just keeps pouring in.

ALUS78 said:
Yeah why all the.bad publicity this summer whos responsible for that
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Look, everyone knows the company's been painting the picture its everyone's fault but their own.. and we all know this summer's fails rests squarely on the mismanagement of the company. Parker and company are in way over their heads..
 
Figures that the closer I get to to start drawing a pension check, the more Parker's mismanagement calls that into question...
 
eolesen said:
Figures that the closer I get to to start drawing a pension check, the more Parker's mismanagement calls that into question...
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First of all your frozen pension is insured by the PBGC so if it’s ever terminated , you will still get the full dollar amount you accrued.
Second, AA has already paid $921 million into the frozen pension plans this year, $14 million more than required.
 
eolesen said:
Figures that the closer I get to to start drawing a pension check, the more Parker's mismanagement calls that into question...
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And let's hope they don't axe the pension after you and others retire like the teamsters did twice and asked for a third with no say so from the participants what so ever. They screwed retirees by cutting 1/3 and some by almost 1/2 of their well deserved full payout. It could happen as more and more employees go the 401K routes rather than the losing pensions way. More control by the employees with 401K. And remember, if another BK does come to AA, the pension will be one of the first to reduce by AA, and the courts will allow them to. The courts always back the big companies wishes to rid of pension payments in BK's.
 
swamt said:
And let's hope they don't axe the pension after you and others retire like the teamsters did twice and asked for a third with no say so from the participants what so ever. They screwed retirees by cutting 1/3 and some by almost 1/2 of their well deserved full payout. It could happen as more and more employees go the 401K routes rather than the losing pensions way. More control by the employees with 401K. And remember, if another BK does come to AA, the pension will be one of the first to reduce by AA, and the courts will allow them to. The courts always back the big companies wishes to rid of pension payments in BK's.
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AA’s plans are frozen and they are being funded. This year AA put in $921 million, $14 million more than required. AA can’t do what the IBT did. AA is a single employer plan, the IBT is a multi employer plan.
Apparently you don’t understand the difference. What you say the IBT has proposed isn’t legal on a single employer plan.
 
Phoenix757767 said:
AA’s plans are frozen and they are being funded. This year AA put in $921 million, $14 million more than required. AA can’t do what the IBT did. AA is a single employer plan, the IBT is a multi employer plan.
Apparently you don’t understand the difference. What you say the IBT has proposed isn’t legal on a single employer plan.
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Not saying it will in fact be the IBT way.
If AA goes BK again they can indeed get relief from their pensions, it's been done before. Even if the plan gets frozen, or even as far as the gov taking them over. Now, when the gov takes them over and there are still not enough money to fund it, who do you think will take the hit? NOTHING is guaranteed anymore as we have seen over the years in the past.
 
You still don’t get it.

Only multi employer plans can be reduced like the IBT plans are being asked. The law doesn’t permit it to a single employer plan.

The PBGC wouldn’t let AA terminate their plans. They are frozen. There is no bankruptcy on the horizon. And when a plan is terminated the terminating company by law has to give the PBGC stock in the reorganized company equal to the value of the shortfall. That’s what happened when when LUS terminated our pensions. The PBGC is funded by fees each pension plan that is active. You apparently don’t understand how the process works. No one except the pilots plan paid out more than the PBGC’s max payouts. No one else had payments reduced.
 
Aiming for greatness by shreading American Airlines Legacy one page at a time. When will your page be shreaded?
 
JFK Fleet Service said:
America West.

Maybe publically engaging in a scorched earth campaign against one of the most critical employee groups wasn't the best of ideas?

Never mind the asinine P&P of America West that have taken over LAA.

LAA managers and procedures have been purged en masse.

Doug and Robert are in way over their heads here and it shows.
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Yes i see that every earnings call, too bad i missed the ones from before the merger.Anyone have a link to AA's past annual reports?
 
swamt said:
And let's hope they don't axe the pension after you and others retire like the teamsters did twice and asked for a third with no say so from the participants what so ever. They screwed retirees by cutting 1/3 and some by almost 1/2 of their well deserved full payout. It could happen as more and more employees go the 401K routes rather than the losing pensions way. More control by the employees with 401K. And remember, if another BK does come to AA, the pension will be one of the first to reduce by AA, and the courts will allow them to. The courts always back the big companies wishes to rid of pension payments in BK's.
Click to expand...

Whoa... If the Frozen Pension is insured and you are to get your full amount why is this even a discussion?

eolesen

Figures that the closer I get to start drawing a pension check, the more Parker's mismanagement calls that into question...

Phoenix757767

First of all your frozen pension is insured by the PBGC so if it’s ever terminated, you will still get the full dollar amount you accrued.
Second, AA has already paid $921 million into the frozen pension plans this year, $14 million more than required.
 
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