Us Airways Wins Loan Extensions

[aerosmith]

To administer this joke of a contract on the unions would a great disservice to the creditors. Because? Morale would sink to dangerously low levels. Not to mention at this pay and benefit rate I can find several comparable jobs! :down: :down:

 

[delldude]

If the judge does dictate forced changes on the unions, then uses police powers to prevent job action

anything he does at this point is only temporary
and keep that in mind....there is no self help at this point.
however,after he gives relief under 1113e,any labor group effected will be forced to the table . after some 60 day period they either come to some agreement or reject and then the company would be free to impose a contract of their liking and then....self help is warranted.....like nobody is forcing you to accept these terms so we can't make you stay.... 🙁

 

[FA Mikey]

A huge victory for USAirways. How can the judge not rule in favor of the pay cuts now ?

[post="190111"][/post]​

Easy one of the 2 principal investors and one who stands to gain the most, Alabama pension fund is also the chairman of U. Any Judge should see through this thinly vailed attempt of an ego maniac, who is trying to convince the BK court that this is only possible way for a lender to give money is for all the U employees to be cut by 23%. So says its Chairman of company, principal outside lender and public relations nightmare.

Hasn't Bonner has spent the greatest part of his time and energy persuading people to book away from U. Getting FF to burn miles off in anticipation of a February shut down? Part of the damage and one good reason U claims they need 23% is because of its main lender. How sad a day will it be when a judge grants to a lender, unfair cuts in total pay and compensation to the group who is in part of the cause and effect of the turn down in business.

I would like to see an investigation of Bonner and his group for manipulating business and then coming in forcing labor to take unfair cuts due in part to the failed business model and to the damage caused by his own public statements.

 

[USA320Pilot]

Unless I am mistaken, all I did was post a hyperlink to an article. Firstamendment, I never voiced my opinion, did I?

However, since you invited the opportunity let me say this.

Management stated in court that nobody will loan US Airways money unless it has a competitive cost structure. This agreement between US Airways and its creditor's proves that point. Why?

The creditor's do not care whether or not a US Airways employee believes they cannot take the cuts or not. The creditor's want to see the company survive and have employees earn market based pay and benefits. Do I like this? No, of course not, however, it's reality.

All investment bankers look at is a spreadsheet that provides a simple equation: Projected revenue minus costs equals a profit, period.

Today's credit announcement proves management's point and all but assures the 23% pay cut will be imposed.

For those union's who negotiated new agreement, the three TWU units and ALPA, the pay cuts will not be as severe as for those without new accords. Many of the naysyers and their union leadership said let the judge decide and now that could occur, as early as today with "imposition".

Separately, both BOA and RSA provided the "at risk" portion of the loan guarantee and it appears that these two parties needed to sing off on their loans before the ATSB provided an extension of the interim financing. Thus, it appears the ATSB, BOA, and RSA are requiring the labor cuts.

Respectfully,

USA320Pilot

 

[totobird]

Remember this is a court of law and the side presenting the strongest case will win.
From what I have been hearing the unions are falling short in their attempts to avert the 23% pay cut.

 

[DCAflyer]

USA320Pilot,

I have defended your right to voice your opinion, but to be frank, I am low on patience these days.

I have been wanting to say this for a long time and it will be worth a trip to the cornfield.

PLEASE, FOR ONCE, JUST SHUT UP!!!!!!!!!! :unsure: 🙄

[post="190138"][/post]​

Dude... all he did was post a link to an article. Chill. Lord knows he bugs the crap out of me when he dictates what he thinks all other labor groups should do, but in this case, your criticism is unwarranted.

 

[DCAflyer]

Am I the only one to notice, from reading the article, that one of the two creditors demanding pay cuts is none other than THE RETIREMENT SYSTEM OF ALABAMA. So very convenient!

 

[RowUnderDCA]

Am I the only one to notice, from reading the article, that one of the two creditors demanding pay cuts is none other than THE RETIREMENT SYSTEM OF ALABAMA. So very convenient!

[post="190174"][/post]​

I just wonder what are the consequences and implications of that kind of relationship: RSA as unsecured creditor and majority owner... surely that's nothing new in the world of bankruptcy. If the other creditors agree, I guess the judge won't raise objections, would he?

I mean to say... it's obvious.. it's mentioned in almost every news story or analysis, but it's not a 'man bites dog' angle... so it must not be of much signficance at the moment, I'm assuming.

 

[firstamendment]

Dude... all he did was post a link to an article. Chill. Lord knows he bugs the crap out of me when he dictates what he thinks all other labor groups should do, but in this case, your criticism is unwarranted.

[post="190170"][/post]​

"DUDE"

It's for ALL the constant babble. It's relentless. It looked like just as good a place as any. It's the same song, first, second , third verse..stuffing it down our throats, and always worse. Whether a link or a long winded writing, the message is the same. It reminds me of the same propoganda spinning on 1-800-usdaily...keep telling us over and over. Well, we got it!! <_<

 

[Rico]

People just do not want to deal with reality.

With DAL joining the fray, there is not a single legacy carrier that has not seen cuts, and since Airways is the weakest of the legacies we have seen the most severe.

You can feel sorry for yourself, or you can just deal with the reality of the situation.

Yeah, these cuts suck, but look at it this way, I am assuming that anyone working at Airways nowadays is fairly senior. So this is making up for all of those years you made higher wages and had way better contracts than those who chose to work at the LCC's. (Cause ya did...)

And remember historically USAir had never really been that strong. Profits were made in the past, but it seemed to be despite our weak market position. So you really should count yourself lucky to have made off as well as you have for all of this time, rather than lament market reality finally catching up with you.

It probably would have been better had Piedmont bought USAir instead of the other way around, but to be honest, that would (and should) have meant lower pay/fewer full time posistions/less strict work rules in general. Once again, you really should count yourself lucky if you were able to take advantage of that merger in so many ways for so long (but understand such things helped placed us in this situation too)

Entitlement is a strong feeling, Once you "have" something it is difficult to give it up. But if you rewind your memory and remember when you found yourself reaping rewards (when your work group had the upper hand, had the leverage, had "control"), this is just the "hangover" from the "party " you had back then.

 

[delldude]

so now dave bronner has done a reverse move- first he tells us if we don't play ball,he'll liquidate.
now he tells the court if we get 23% i'll extend the loan gaurantees..... :angry: :mf_boff: :mf_boff:

 

[funguy2]

Just wait until the comapny decides that, assuming the judge approves the 23% cut, that the 23% cut applies to the base of the new ALPA contract (the one recently sent out to vote, with 18% reductions), and not the previous contract... Thus the pilots total contribution to the 1113(e) = roughly 41%... Just wait until we see this happen. I know, the company says it won't happen, I know... But when was the last time they actually honored a prior commitment?

Maybe then the "RC4" won't have looked so bad.

 

[cavalier]

People just do not want to deal with reality.



Entitlement is a strong feeling, Once you "have" something it is difficult to give it up. But if you rewind your memory and remember when you found yourself reaping rewards (when your work group had the upper hand, had the leverage, had "control"), this is just the "hangover" from the "party " you have had then.

[post="190186"][/post]​

The reality is this in NOT an entitlement and you know it. Going to work everyday and putting up with abusive managers is not an entitlement, signing a contract with promises of NO more cuts is not and an entitlement, entitlement is you are entitled to pay taxes and die

 

[usairways_vote_NO]

Just wait until the comapny decides that, assuming the judge approves the 23% cut, that the 23% cut applies to the base of the new ALPA contract (the one recently sent out to vote, with 18% reductions), and not the previous contract... Thus the pilots total contribution to the 1113(e) = roughly 41%... Just wait until we see this happen. I know, the company says it won't happen, I know... But when was the last time they actually honored a prior commitment?

Maybe then the "RC4" won't have looked so bad.

[post="190189"][/post]​

There could be nothing funnier then that funguy

 

[deltawatch]

23%, does that include everyone. Union and non-union? All levels of mgt?