U.s. Airways' Woes Don't Yet Involve Layoffs
- Thread starter jB-Rocks
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robbedagain
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cant imagine what good ole lakefield has to say to the cwa reps in his office. that ought to be very interesting and then i wonder if the iam is going to stay shut or negogiate in the process of ch11? but in my own personal opinion, i think the unions would be a fool to negogiate with the inept mgmt but then again i'd sure hate to see what the new cuts will look like. also will the new cuts affect mainline express wages, which by the way are below poverty wages!
jimntx
Veteran
Just my opinion, but refusing to negotiate now would play right into the company's hands. According to the law, for the judge to grant the company an 1113 motion to abrogate the contracts, the company must show that it has negotiated in good faith (or has attempted to do so) for concessions and the union has refused the concessions without good reason. If a union has flat refused to negotiate, it would have no argument in court against the 1113.
Now, in truth, the union has little defense against an 1113 anyway, but there is a difference between little and no defense.
Now, in truth, the union has little defense against an 1113 anyway, but there is a difference between little and no defense.
jimntx
Veteran
Because the court is not concerned with that issue. The court's job is to protect the interests of the creditors. It's not a question of is this fair or is that fair. It is a question of legality.
The court only rules on those motions brought before it. The unions could, I suppose, enter a motion to cut management salaries, but I doubt it would get very far.
Oh, and employees become creditors--unsecured creditors--only if the BK is converted to Ch. 7.
The court only rules on those motions brought before it. The unions could, I suppose, enter a motion to cut management salaries, but I doubt it would get very far.
Oh, and employees become creditors--unsecured creditors--only if the BK is converted to Ch. 7.
The senior execs probably already have "theirs" squirreled away from nosey courts. What really amusing is that the corp lawyers probably advised them on how to do it without getting caught at company expense.
The golden parachutes are already packed, and the senior execs are standing at the door waiting for the green light. What color is your parachute? Oh, right, not everybody gets one.
The golden parachutes are already packed, and the senior execs are standing at the door waiting for the green light. What color is your parachute? Oh, right, not everybody gets one.
