WeAAsles
Veteran
- Oct 20, 2007
- 23,539
- 5,263
Bob Owens said:After three decades in this game I've learned to prepare myself for what the language is saying, and what its not. How many people said I was nuts when I said don't hold your breath for the matching funds for pre funding, that we needed to remove the words "upon successful resolution of the 1114 process", that was 2012, 63 days from 2015 and still no funds.
Yes and that's why I brought it up in the MIA town hall meeting. When they didn't take it through that court process is when I got nervous but I think the intent of the original agreement will carry forth even if it's through that agreement that we have to grieve and then arbitrate the issue?
Does the language say that the intent is to leave our current pension with AA and have us start in the IAM plan at day one? No it does not say that. They did say that they were going to bring back an industry leading contract though, well, where, under these non-section 6 negotiations with contracts in place till 2018, do you think that money is going to come from? Synergies that the company is going to share with us? No Parker already promised that to the shareholders. Then I look at the dollars that are involved and how the penalty under the IAM for early retirement is 4.8% per year prior to 65 vs 3% prior to 60 (IAMNPF is more than triple the AA penalty, and you can't work) and realize that by rolling our pension into the IAMNPF AA gets to do what they couldn't do in BK and eliminate millions of dollars in pension liability. Then I look at how the company also gets a fixed contribution rate of $4160 a year and saves an additional $1200 per mechanic per year by dumping us in the IAMNPF and to date I have not heard one word from the IAM , who is clearly running everything however they choose to, and will do so for the first two critical years to dispel anything I've said, not even from 700.
And again I ask what Presidents and what members are going to ultimately agree to that? You wouldn't, Bob Petersen wouldn't, I wouldn't and I don't know a single President on the Fleet side who would either. Would TUL? Tell me who do you think would agree with this and how it would pass on our side? IAM guys absolutely don't have the numbers in your group to get it passed.
If I were AA management I would jump at the opportunity to dump us into the IAMNPF in a heartbeat. There is zero downside. They get to eliminate millions in debt, even if they have to throw in a few million now, they get a fixed cost of $4160 per mechanic, so roughly than 4% of mechanics total compensation will be pension related vs roughly 5.5% (half the rate Flight Attendants get and less than one third the rate the pilots get) and it creates a captive workforce that they can abuse the shyte out of. Pay them crap, treat them like crap and every year or so raffle off a free Mustang and make videos showing everyone how happy the old workers are to be there, just don't expect them to stand up too quickly and add a walker to their list of tools because with the IAMNPF you ain't going anywhere. .
Hey. I'd love to be wrong on this, lets just see a letter that says that our AA pension is not to be put on the table and have the two Presidents sign it.
C'mon do you really think Harry Lombardo would do that? I know that you think Jim Little might have but you have said some good things about Harry on this website.
BTW, the negotiators will be even in number, the same from AA and the same from the IAM, even though we have double the amount of people, guess who the tie breaker is then?
Ultimately the members.
Another thing, there are what seven Fleet service Locals right?
Well only three get to go. So maybe your Local will have someone there, maybe they won't, who decides? The International, not you, not even the Presidents council-welcome to the Alliance
Ultimately the members. And if some really bad crap comes our way since AA is going to be rolling in Billions for probably years to come, I'll join you in the fight to vote it down. Basically your Pension doomsday scenario. And I'm sure it won't be very difficult for us both to gain supporters.