US Pilots Labor Discussion

[700UW]

Read the article, the merger was totally funded by outside investors and arranged by Lakefield and Seabury.

But America West did not have enough cash to lift US Airways out of bankruptcy. It was up to Luth, the US Airways adviser, to find enough investment money to piece the deal together and give the combined company a fighting chance to thrive in the battered airline industry.



Read more: http://www.post-gazette.com/pg/05142/508153.stm#ixzz1CvnIVXDc

 

[767jetz]

protect a furloughee as much as possible???????
YOU SIR ARE THE BIGGEST HYPOCRITE EVER TO POST ON THESE BOARDS
You make boeing boy look like a supporter. Please leave here and never come back!!

NICDOA
NPJB

Right back at you, hypocrite. You as usual take thing out of context. As a reminder here are my exact words...

...while the argument will be made to protect the furloughees as much as possible, historically arbitrators do not give heavy consideration to furloughed pilots.

What part did you misread again? Read my lips... Furloughees DO NOT expect favorable treatment in the CO/UA merger. That doesn't mean the negotiating committee can't make some argument on their behalf, as is their responsibility. There is only one merger that I have heard of in the past, involving two Canadian carriers I believe, where furloughs got something other than a job behind all active pilots. I guarantee they merger committee won't show up and ask how many of our furloughs can go ahead of their actives. I guarantee they won't over reach or ask for DOH. I also guarantee that what ever results occur from binding arbitration will be honored by both sides. Furloughees might get some kind of pay to LOS or something to mitigate the furlough disparity. They might even be able to bid widebody ahead of a senior CO pilot due to carrier expectation and our 3 to 1 WB advantage. I don't know what kind of solutions the arbitrator will come up with. But our MEC has been quite clear... do not expect to go ahead of any active pilots at CO if you were on furlough at the PID. Is that clear enough for you?

And the fact that you want me to leave so badly only ensures that I will not. Continue to rot on LOA93 as long as you choose to. No one is sympathetic to your self-inflicted pain and suffering. Sleep well in the bed that you made.

 

[N924PS]

If usapa was interested in making things right and not just screwing West pilots, we would have the best thing going.

I wonder if any of the candidates for BPR in PHL feel this way? Probably not, so more of the status quo.

 

[Pi brat]

I wonder if any of the candidates for BPR in PHL feel this way? Probably not, so more of the status quo.

Aren't you based there? Have they published their feelings? I thought the PHL and PHX reps had a pretty good working relationship.

 

[nycbusdriver]

If Lakefield was the cash/confidence man why is Parker running the company?

If I were an investor, putting my money on a guy, I would want that guy running the company. You think maybe it was Parker they were putting their money on not Lakefield. The same lakefield that had a company on the verge of liquidation with no plan to exit BK.

Could it be that the crew room rumors are not true?

That's an easy one.

From the day Lakefield took the helm of US Airways, he was very vocal over the fact that he did NOT want to be running an airline and was just filling in until the seat could be filled by someone permanently. I believe he's still vice chairman of the board. You can probably get his email address from the company website and ask him yourself.

He was extremely motivated to get OUT of the front office and back to his semi-retirement in Florida (or somewhere warm.) He told anyone that would listen that his expertise was financial and that he was ill-equipped to run an airline, and disliked it immensely. That was probably a big motivator for him to put the merger together so someone else could take over.

 

[N924PS]

Aren't you based there? Have they published their feelings? I thought the PHL and PHX reps had a pretty good working relationship.

The candidates have have made their platforms available to their PHL constituents. In reading their campaign mail, it doesn't sound as if any wish to construct a "bridge over troubled water" that is inclusive of all USAirways pilots.

They all seem to toe the USAPA party line, such as it is. I commend them for their willingness to serve their fellow pilots and thank the winner in advance for volunteering his service.

 

[700UW]

Seabury was instumental in making the deal happen, but they did not raise all the money.Seabury=$350 million

Something to the tune of 3.6 billion made this deal happen, and Seabury raised $350 million, or about on tenth of it.


The money raised is only part of the story. That is why the AWA stockholders ended up with the largest single grouping of LCC stock by far, more than double what any other invesment group had after the merger.

I really do not know if HP made AAA payroll or not, but since all the money collected was put into Barbell Aquisition, and then Barbell merged into AWHC, the only entity standing that had an excess of cash on hand was America West Holdings Corp, and that is probably where the AWA made AAA payroll issues came from.

Guess you cant add, Seabury's work raised over $750 million from initial investors, not counting the sale of stock to several investment firms.

Luth went after the companies that had something to gain from an investment in US Airways and America West. Aircraft maker Airbus agreed to provide $250 million in exchange for US Airways' pledge to buy dozens of A320 jets in the future. Regional commuter carrier Air Wisconsin Airlines made a $125 million investment in exchange for a jet services partnership. The Appleton, Wis.-based airline will fly for the merged carrier on a contract basis.

Credit card companies may provide $300 million in order to reach new customers. And once-bankrupt Air Canada offered $75 million, good for a 7 percent stake in the new company, in exchange for the rights to bid on the maintenance contract for the new carrier's fleet of 361 jets.

Read more: http://www.post-gazette.com/pg/05142/508153.stm#ixzz1CvnIVXDc

The filing, to the Securities and Exchange Commission, makes clear that even though the deal was concluded within a month after initial press reports that the two airlines were in negotiations, its origins go back as far as February 2004. The filing also revises downward, to 39% from 45%, the share of the merged company's equity that will go to current America West shareholders, who are being asked to approve the merger.

In May the negotiators settled on $375 million as the minimum new investment needed for the merger to proceed. By then, the airlines had lined up $350 million from four entities--Eastshore Holdings, PAR Investment Partners, ACE Aviation Holdings and Peninsula Investment Partners, with $125 million, $100 million, $75 million and $50 million, respectively. The total reached $500 million in a deal concluded after the merger was announced in mid-May, by which Wellington Management Co. will invest $150 million on behalf of funds it manages.

The Wellington investment apparently accounts for the reduced percentage ownership in the new company for America West shareholders. In the mid-May announcement, the division was said to be 45% to America West shareholders, 41% to new equity investors and 14% to some of US Airways' creditors. Now, the new investors will get 49%, America West shareholders 39% and the creditors 12%.

 

[crazystnic]

Right back at you, hypocrite. You as usual take thing out of context. As a reminder here are my exact words...




What part did you misread again? Read my lips... Furloughees DO NOT expect favorable treatment in the CO/UA merger. That doesn't mean the negotiating committee can't make some argument on their behalf, as is their responsibility. There is only one merger that I have heard of in the past, involving two Canadian carriers I believe, where furloughs got something other than a job behind all active pilots. I guarantee they merger committee won't show up and ask how many of our furloughs can go ahead of their actives. I guarantee they won't over reach or ask for DOH. I also guarantee that what ever results occur from binding arbitration will be honored by both sides. Furloughees might get some kind of pay to LOS or something to mitigate the furlough disparity. They might even be able to bid widebody ahead of a senior CO pilot due to carrier expectation and our 3 to 1 WB advantage. I don't know what kind of solutions the arbitrator will come up with. But our MEC has been quite clear... do not expect to go ahead of any active pilots at CO if you were on furlough at the PID. Is that clear enough for you?

And the fact that you want me to leave so badly only ensures that I will not. Continue to rot on LOA93 as long as you choose to. No one is sympathetic to your self-inflicted pain and suffering. Sleep well in the bed that you made.

***************************

You are so full of crap it's oozing out your sneakers... The Us Airways/ Shuttle merger had pilots on both sides on furlough... Although the Shuttle only had some ....
NIC kinda got that one right in the fact that he slotted .....just as he should of done with this one..

 

[Pi brat]

The candidates have have made their platforms available to their PHL constituents. In reading their campaign mail, it doesn't sound as if any wish to construct a "bridge over troubled water" that is inclusive of all USAirways pilots.

They all seem to toe the USAPA party line, such as it is. I commend them for their willingness to serve their fellow pilots and thank the winner in advance for volunteering his service.

Thanks for the update. I'd like our BPR reps to acknowledge our differences but stop fighting each other on non-seniority issues.

 

[Pi brat]

Good evening Metroyet, care to answer my question?

 

[Pi brat]

Good evening Metroyet, care to answer my question?

Yeah, didn't think so. Integrity.

 

[sumadarson]

Quiet tonight

 

[BoeingBoy]

Up to the same tricks Nos? I still waiting on the proof...

 

[Metroyet]

Good evening Metroyet, care to answer my question?

No. None of your business.

 

[doh nogo]

No. None of your business.

Actually that is the perfect answer. None of his business. Next question.