Originally Posted by
gloopy
As someone who also does work with the Federal Reserve Board of Governors, he's very aware that 4% per year is a good bit less than break even. The profession gets hammered after 9-11 and then the best we can hope for is less than full COLA and therefore get cheaper every year? Not buying it.
He made a point that between US Air, AA, United and Continental they have been in section 6 contract negotiations for a combined 25 years. That's staggering to me. There's the time value of money, sure. There's holding out for a stellar contract that meets everyone's every wish, sure. There has to be some happy medium.
I believe what he was getting at was that they ended up getting nothing after all of these years and are going to take a paycut now.
(and 4 percent a year without some other incredible, stellar, amazing, out of this world contract improvements would be a no vote for me.)