Why no 1114 decision, months after hearing?
- Thread starter TWU informer
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I don't know anything about the people who are retired. I do know those were the terms that made the benefit "BK proof". This is what was told to us by the TWU, until the company wanted it then they weren't so sure. But the yes vote on the second last best offer more or less gave AA permission to take it. The TWU said we would get the match back after the 1114 process, but I doubt we will ever see it. I am guessing AA will want to set up a VEBA account for the retirees using our money. This way it costs them nothing and they save a little face by giving the impression that they are taking care of the retirees while sticking it to us a little more. IMO that is what is taking the judge in the kangaroo BK court from announcing his decision which I bet he made a long time ago. It'll probably be announced after AA comes out of BK. But I am no expert and this is just speculation based on other moves by the company and union to deny basic benefits to those of us who were hired in the 80s and later while taking care of the A scalers who were hired in the 60s. They always made sure the A scalers were taken care no matter how it effected the rest of us. Remember the 5&5 that brought on the SRPs? I may be wrong and I hope I am, but this fits right in with all the other below the belt stuff AA has pulled on us with the TWU's blessing.
MCI transplant
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So what have we here? Something new? The last was "Line vrs. Overhaul!"------- Now it's "active employees vrs retirees?" And if your handle " Old Guy" is anywhere never accurate, you'de better start thinking about retirement! Unless you plan on working all your life? It seems time goes by faster the older you get!
I never questioned your patriotism, so I don't understand your answer, still I applaud your and your father's service to our country.
xUT
Veteran
Retirees are going to get screwed.
Fixed income (in most cases) and increase in medical when it's most expensive.
With the 'Lazy'U, we took a reduction in retirement income, then the 1114 cut our benefits in half.
Been there, done that, no T-shirt.
Talk about a screwing...
JMHO,
B) xUT
Fixed income (in most cases) and increase in medical when it's most expensive.
With the 'Lazy'U, we took a reduction in retirement income, then the 1114 cut our benefits in half.
Been there, done that, no T-shirt.
Talk about a screwing...
JMHO,
B) xUT
xUT
Veteran
You can take your military sacrifice, DD214 and with $3.00 you can get a double shot espresso at starbucks...
Take that to the bank!
B) xUT
They always had the ability to back out of it, but if they did they had to give us the matching funds. The plan description was on the 562 website before the International shut it down. Mark Burdette seemed obsessed with making sure that we did not get that money.
I think they are still looking to try and find a way to cheat us out of it but want to do it after they release an inflated Equity stake.
The issue here, unlike 3m, Pziser and Dupont is Prefunding, we paid for those benefits, both people still working and those who are retired. They can give those who are still working the matching funds and be done with us but they cant do that with retirees because the way the plan is written all those funds from Retirees revert to the company and in exchange the retirees get the $50k in coverage. They paid in advance for the coverage. So every retiree is holding something worth up to $50k that they paid for, and the company cant get out of it without making them creditors, unlike other companies that offered those benefits without charge.
I believe they are trying to cook up a deal where they use our monies, from the match to our contributions to fund their obligations. Remember we are talking about a company that wanted their employees to pay a fee for direct deposit even though changing to DD saved the company money.
MCI transplant
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Didn't read that as an attack on you. Read it as the total lack of respect shown for those who made such sacrifices.
MCI transplant
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If that is the case Bob, let's not blame the retirees for what AA may do!!!!
MCI transplant
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Your absolutely correct Bob! -------- Years ago I had to apologize to some Canadian friends of ours for having to put up with our trash! Those like xUT!
xUT
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#### U!
I was door gunning in RVN 1972-1973 while you squids were fighting boredom.
B) xUT
MCI transplant
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Oh really! And where did you fly out of ?------ If you flew out of Nam, you've got real issues friend!------ Yes, I was on the Bon Homme Richard, CVA-31, off Yankee Station, and on a "Bingo Crew" of four F8E's at Bien Hoa, 1965-66. ------ And yes, I know Bien Hoa was an Air Force Base!
