OldGuy@AA said:
I fear that every month that goes by the company's chance of keeping our money increases. I am betting it is a low priority at the international.
The company has ZERO intentions on ever giving us that money. They obviously never did, and were dishonest and deceptive in Bankruptcy about it.
They were after this money all through negotiations. Remember the 2010 TA? They wanted us to surrender both the matching funds and our contributions for sick time credits, that couldn't be used for Sick time but instead would be used to buy retiree medical at a rate that was more than double what CAL and SWA had, plus those workers accumulated double the sick time annually and had rapid re-accrual.
The company had to have a pretty good idea that they would not be allowed to terminate the Retiree medical after they had already doled out and apportioned all the equity. Lets face it, if they wanted to void out that contract (retiree medical where the premium was funded through prefunding) then it should have been part of the 1113 process and those retirees would be creditors entitled to equity because t
hey paid for that coverage. So they slip in that language tying the return our matching funds to the 1114 process and then try and use their failure to screw the retirees as an excuse to try and keep our funds. The fact is that there was no legal reason to tie our matched funds to the 1114 process. One has nothing to do with the other. The only funds that remain in the the prefunding account is
our money that they are trying to steal from us because $3 billion in profits isnt enough, and the contributions of those who retired early and have a balance. All the retirees matching funds from the company are already out of the trust, all those funds revert to the company when we retire and become active on the benefits.
This just goes to show how petty and dishonest these people are. They succeeded in taking away our Retiree Medical and not replacing it with anything, most others have something. They succeeded in taking away our pensions. They succeeded in taking away Profit Sharing. They succeeded taking away vacation, Holidays, sick time and making us the lowest paid in the industry yet all they can think about is the few crumbs that we may get thanks to a concession they got twenty years ago. We are talking about a sum of money that pulls in in just over one day, that was already paid out years ago, yet they are desperately trying to steal that away from us. It really is pathetic. Disgusting.
When will they learn you don't have to win every battle on every front? All these people know how to do is take. How can they ever expect us to help them fight United and Delta when we see how those carriers treat their workers better? Why would we want an oppressive management team that screws us at every turn to succeed?
Giving us what we are due costs them nothing, this money is already outside of AA. They complain about the $10 million a month living up to their obligations costs them but ignore the fact that our concessions, that go way beyond what anybody else gave up, more than covers that $10 million several times over and every time a retiree dies that $10 million goes down.
