Originally Posted by
maddogpyrat
Check out your FPA contract, we went from 5 percent to 6 percent at DOS, then one more percent at DOS plus one year.
I think Tuck is correct here - the DB plan didn't go from 6% to 7% until 2007
However, that does not change the fact (opinion??) that the 1% + 1% DB pumps in this TA are clearly insufficient given their timing and length of the contract
If we are going to accept the story that the new accounting methods and assumed internal rates of return are making the A fund virtually impossible to fund above the $260K level , then we still need to see a much more substantial, and much earlier, B fund bump
Such a fix, with a cash over cap clause, is arguably the biggest stumbling block in this TA --- and it's a pure $$$ issue
This, along with slightly bigger pay raises and a fairer signing bonus, can be renegotiated very quickly if the TA is voted down
We shouldn't seek these improvements outside of Section 6, because it clearly reduces and delays our leverage