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I voted no for the 2003 concessions, but had AMR gone BK, we would have lost our pensions too ...
This is misinformation and you should be ashamed of yourself for repeating it - we simply would have lost
further accrual re: pension benefits, but not the pensions themselves. They would have been handled/administered by the PBGC,
but the recipients could not have drawn them until age 65. You would still have the pension, very much unlike the BS told you by the company and their pet union.
Based on the information available at the time, they probably could have made a case for it in BK court.
You would be far better off reading the actual bankruptcy law as contained in the Federal Regulations. At that time, as now, there was/is
NOT A NEED-TYPE TEST to file for Chapter 11 protection. As a matter of fact, a financially healthy company could have filed for Chapter 11 protection in 2003 as they could now, according to the law. Obviously, it would be rather stupid for a healthy company to do so then or now, but the fact remains there are no restrictions re: one doing so.
Also, there are no restrictions as to the frequency of filing - a company can file a Chap. 11 petition once a week if they choose to but again, that wouldn't be very practical the previous week's filing hadn't been cleared yet and still could be amended.
Wait until it becomes evident in 2014, a year after the next contract is settled (which I predict will happen in record time), how much money the company will be putting into its pockets due to O'BummerCare (medical insurance) - most estimates now as to the corporate benefit are staggering to the point of those familiar with the 3000 page law can't calculate the monetary value. Why do you think
no large corporations put up a fight over this healthcare bill we had rammed down our throats? Follow the money.
Exploring a VEBA? Wonderful - for the unions. They'll be in the organized gambling business then - more money!! They will be in charge of administering the mess the DemocRATS have made of the country's healthcare system for us - you see what their opinion of us is by virtue of what they brought back as a TA.
This batch of cookie-cutter TAs are an insult to everyone who actual does anything at American Airlines instead of sitting at a desk.