Originally Posted by
fcoolaiddrinker
we voted in the lowering of first year pay in either feb or march 2007 with close to 200 million in the bank, nowhere close to bankruptcy. bankruptcy wasn't even in the minds of the negotiators or the company during negotiations. To say we did it to stay in business is just not true. I was told at the time it was to pay for our DC plan.
Exactly ^^^^ The LOA concessions post BK were the perceived "company savers". I heard the cut in pay for 1st year pilot in the 2007 contract was a trade for exactly what you said...DC plan.