TWU negotiations.........what?

[FrequentFlierCA]

Because he has an opinion, as you do. Take off the blinders, and try to think outside your little box :down:

Well said. What are forums like this for, if not debate and the free exchange of ideas?

As far as oil hedging, yes, it's the CFO and CEO who make those calls, and AA did do better than most of its peers. I also agree that many posters on here would be screaming about "wasted money that could have been used to restore wages" if the price had dropped. It would have been better if AA had hedged more, but as far as WN goes I think they had a mix of foresight and luck on this one.

 

[aafsc]

Company Stooge....... Why do you guys bother with him?

Not a company stooge; just not a militant unionist blinded by hate.

 

[frontline]

Not a company stooge; just not a militant unionist blinded by hate.

god knows we need more of those right now. and no, not being sarcastic!

 

[Chuck Schalk]

What does that have to do with anything? I beleieve his brother was hired at TWU represented PAN Am and was retained after Delta purchased Pan Am. I've worked non-union and the work rules and conditions werent much different than what the TWU suposedly got for us. I doubt anyone from Pan Am who is now at Delta wishes they had to pay dues to the TWU.



They are paid to make sure the company makes money, we are paid to fix airplanes, they havent been doing their job, the fact that they screwed up on hedging is only one of the many mistakes they made such as but not limited to purchasing TWA, building several billion dollar terminals throughout the system, cutting wages, half pay sick days which results in more sick time paid out instead of less, etc etc.

no one is watching the long term debt for AA. In 2003, we were told it was 20 billion dollars and now it is 8.7 billion dollars how does one explain that? Was it just a miracle?

 

[1Conehead]

What does that have to do with anything? I beleieve his brother was hired at TWU represented PAN Am and was retained after Delta purchased Pan Am. I've worked non-union and the work rules and conditions werent much different than what the TWU suposedly got for us. I doubt anyone from Pan Am who is now at Delta wishes they had to pay dues to the TWU.

Delta did not purchase Pan Am ,only bought some of their equipment and routes.

 

[aafsc]

no one is watching the long term debt for AA. In 2003, we were told it was 20 billion dollars and now it is 8.7 billion dollars how does one explain that? Was it just a miracle?

No miracle at all.

From AMR's 2003 financial statements; the balance sheet's long term liabilities section:Long term debt (excluding capital leases, pension and other post retirement benefits, etc) was $11.901 billion.

From AMR's 2007 financial statements; the balance sheet's long term liabilities section:Long term debt (excluding capital leases, pension and other post retirement benefits, etc.) was $9.413 billion.

The long term debt was reduced by$2.48 billion over a period of 4 years- good but not great.

If you add the long term debt amount to everything else in the long term liabilities section of the balance sheet (pensions, capital leases, pension and other post retirement benefits) you get:

For 2003: $22.62 billion
For 2007: $17.43 billion

A reduction of $5.19 billion in total long term liabilities over a period of 4 years; again, good but not great.

I believe I remember AA saying that they reduced the capital lease amount by prepaying it.

Also, I believe that they also include other items in their long term debt figure such as the cost of aircraft operating leases (rentals, which is off balance sheet financing) and some facilities debt.

The number can vary widely depending on what one considers long term debt.

In my view, the calculation of long term liabilities, for analytical purposes, should include all long term commitments whether they are on the balance sheet or off.

 

[Chuck Schalk]

look for TWU negotiations to resume in a couple weeks and the same proposal will be put out to vote on. With the intervention of the TWU ATD it should pass this time. It will be a split vote but none the less it will most likely pass due to pressure on certain presidents. Vote prediction 11-9 to bring it back.

 

[Jackrla]

What is the best way to secure jobs and pensions? I understand people are rightfully POed, but there has got to be a better way than fighting.

 

[Hopeful]

What is the best way to secure jobs and pensions? I understand people are rightfully POed, but there has got to be a better way than fighting.

Hello, Jackria....since you are new to this forum with just 8 posts, let me recap this topic for you.

The company, with the help of the TWU, raped us with a concession package undre the threat of bankruptcy along with the idea of avoiding layoffs..
After the rape, the layoffs followed ANYWAY...So now after years of concessions, the company wants more from us due to the price of fuel...
While all of this has been going on, the executives were exempt for sharing any of the PAIN as they still received their annual PUPs...

 

[LGA Fleet Service]

look for TWU negotiations to resume in a couple weeks and the same proposal will be put out to vote on.

Minus the 5% and 3.5% payments of course...

 

[FrequentFlierCA]

Hello, Jackria....since you are new to this forum with just 8 posts, let me recap this topic for you.

The company, with the help of the TWU, raped us with a concession package undre the threat of bankruptcy along with the idea of avoiding layoffs..
After the rape, the layoffs followed ANYWAY...So now after years of concessions, the company wants more from us due to the price of fuel...
While all of this has been going on, the executives were exempt for sharing any of the PAIN as they still received their annual PUPs...

Did I miss something? What are these new concessions you claim the company wants from you? As I recall there were payouts on offer (scorned by most of you). There may have been some trade offs on productivity, but I don't recall the company asking for some of your paycheck.

And if you like the PUP payouts so much I'm sure corporate would be happy to pay you entirely in stock. What? You don't want the majority of your compensation to be at risk in the market?

 

[MCI transplant]

Did I miss something? What are these new concessions you claim the company wants from you? As I recall there were payouts on offer (scorned by most of you). There may have been some trade offs on productivity, but I don't recall the company asking for some of your paycheck.

And if you like the PUP payouts so much I'm sure corporate would be happy to pay you entirely in stock. What? You don't want the majority of your compensation to be at risk in the market?

<_< ------- Tell you what! If you put a "me to" clause, and a "snap back" to the 2003 contact, in the next proposal,I'll buy that two year extension! Without the 5%, and 3 1/2% signing bonus! That would be excepting over a seven year old contract! -------- If the company "wants", and, or, "needs" this extension so badly, it's time for them to "pay"! And one way the Union can capitalize on that is to demand that commitment to a future "snap back"be included in our next contract!!!"

 

[AMFAMAN]

Did I miss something? What are these new concessions you claim the company wants from you? As I recall there were payouts on offer (scorned by most of you). There may have been some trade offs on productivity, but I don't recall the company asking for some of your paycheck.

And if you like the PUP payouts so much I'm sure corporate would be happy to pay you entirely in stock. What? You don't want the majority of your compensation to be at risk in the market?

It's a concession if in exchange for the payoff your job no longer exists. There were no less than 3 major concessions in that contract, and none had anything to do with trade offs in productivity, only trade offs in jobs. Besides our productivity is up 37% since the concessions.

 

[Bob Owens]

No miracle at all.

For 2003: $22.62 billion
For 2007: $17.43 billion

A reduction of $5.19 billion in total long term liabilities over a period of 4 years; again, good but not great.

Perhaps not great when compared to TWU officials personal "balance sheets" but its a lot better than mine or anyone I know who works at AA. Most of us have seen our debt increase since 2003 and unlike a corporation which can have debt forever we have a limited time to aquire enough assetts and eliminate debt in order to retire.

 

[MCI transplant]

<_< ----- Listen people! The whole Airline Industry is in crisis over this fuel thing! Our only hope is Government re-regulation! ------- God help us!!!!! :unsure: