Quote:
Originally Posted by thevagabond
You got that right brother! If it wasn't for the good folks at mainline companies not taking a stand both out of and while in bankruptcy we wouldn't be flying these jets for such low wages.
It's okay though, vent here and blame us. It's all our fault for following a time honored path to the better jobs.  |
I have to take exception to your "while in bankruptcy" statement. You have no idea what you are talking about. A judge can approve just about ANYTHING asked as long as it is in the best interest of the company as a going concern. 1113c and 1113e motions were used in the UAL and Frontier bankruptcies. You get a term sheet with some terrible concessions on it and you negotiate from there. Concurrently, the company files an 1113c motion to approve the term sheet as is with ALL the nasty concessions on it. The court date is set and the clock starts ticking. You can negotiate half the concessions away and come to a tentative agreement, or you can roll the dice with the judge and risk getting ALL the concessions forced on you. That is how it works. Ask the mechanics at Frontier and United what happens when you "let it ride" with the judge.....rubber stamp.