The contract is pretty clear we get it all back + interest.
Isn't the contract in the process of being gutted, we have no idea what AA is taking away or what the TWU is negotiating away for something else.
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The contract is pretty clear we get it all back + interest.
The prefunding and interest is yours and cannot be touched regardless what happens in bankruptcy, PERIOD! Now the match is a whole different story and what is being fought over.Isn't the contract in the process of being gutted, we have no idea what AA is taking away or what the TWU is negotiating away for something else.
The "last and best" offer will be imposed if this is voted down. Everyone needs to block out a few hours and read a legal interpretation of the Chapter 11 USC (not from the TWU) and quit listening to company/company-union shills.
The motion is to abrogate and modify, read the term sheet and motion, you are deceiving the membership.
The RLA states Section 6 negotiations commence 60 days prior tot he amendable date, AA has changed the amendable date to 2018, there will be no section 6 negotiations taking place.
When the court granted NW's motion to abrogate its FA contract, NW sought to impose its original ask, but the court instead told NW it could only impose its last best offer - the rejected TA. I do not know if there's bankruptcy law that prohibits imposing the original ask, but the NW bankruptcy court made it clear what NW was permitted to do in that case.Which term sheet gets implemented? The one in the original filing or the new LBO? I understood the motion to abrogate allows the company to implement the original ask. Many believe on this blog that if they vote down the LBO they get it anyways. Is that what you understood during the US BK's?
When the court granted NW's motion to abrogate its FA contract, NW sought to impose its original ask, but the court instead told NW it could only impose its last best offer - the rejected TA. I do not know if there's bankruptcy law that prohibits imposing the original ask, but the NW bankruptcy court made it clear what NW was permitted to do in that case.
They may not have the stomach for war but whether they fight back or not the company will destroy their lives, at least if we fight we have a chance. Can you really afford another 30% paycut? Figure by the time you add in what you need to put in your 401K to replace the DB pension, the fact your medical will double as well as your deductable, what you have to put away for retiree medical, inflation on everything you buy between now and 2018, or 2022?, and 30% is probaly too low. This concession is on top of but even deeper than what we gave up in 2003.
Why vote yes?
The jobs you save may be the internationals'.Just ask Little!
"You're out of order, Brother!"Well Jim little said we would have the results of our voting on the lbo 2 weeks from today and as of yet I have seen nothing. twu supporters tell me again why we should support this union I really dont get it. :angry: :angry:
I understand perfectly well why you're saying that but I'd prefer to follow an attorney's advice in this case - you aren't one of those. FWAAA left a reply re: this very thing - read and understand.That's not true. The LBO is what was negotiated as a requirement of the 1113c process. The 3/22/12 term sheet is what has been submitted in court and has provisions that if the consensual agreement is voted down items like the even small things like the 1.5% annual raises are not available over the six year term. The TWU has the ability to continue collective bargaining after the judge rules on abrogating the existing CBA.
Jim Little stated that the membership would get the right to vote on the LBO but I doubt the TWU will say this is a great deal however they have said that a consensual agreement outside BK is most often than not the better option. That is not to say that a higher rate of pay could be had after BK but that may be a while and not a matter of months. It has been almost two years since the July 2010 TA and our TWU committee had not achieved much prior to the BK filing.
Vote no and we will most likely see a M&E that looks like the 3/22/12 term sheet very soon.
I don't think it matters how we vote, see my post in the thread about TWU withholding info.