Originally Posted by Skypilot
You aledged "cost savings analysis" is just a model based on what you think the line items were worth. And it's completely bogus. Try going to the actual financil reports. You do know what 10-K's, 10-Q's, and Form 41's are, don't you? Let me spell it out. Take the the four quarter prior to May 2003 and the four quarter after, and do the math. That is the ACTUAL cost savings in the first year, not some wild-assed guess. You won't get any wher near $900 mil. Nice try though.
Skypilot,
First, PDP did not just assign the value they “thought” the items were worth. The source for all costs but one was APA. The one cost not sourced to APA was the cost saving per furloughee, and this was supplied by a negotiator who was intimately familiar with the pilot cost structure, having been on the committee until late 2002 or early 2003.
Second, have you looked at the 10K for 2002 [
http://sec.gov/Archives/edgar/data/6...08197z10-k.htm
] and 2003 [
http://sec.gov/Archives/edgar/data/6...12953e10vk.htm], or the 10Q for 1Q2003 [
http://sec.gov/Archives/edgar/data/6...30/ar1q03g.txt] or 2Q2003
[
http://sec.gov/Archives/edgar/data/6...5/ar2q03f.txt?]
Where in these documents does it break out labor costs by employee group? Further, even if it did, you cannot compare before and after snapshots as you try to do. The mere fact that American Airlines may have flown more/fewer block hours than during the prior time period would skew the comparison and render it invalid.
Finally, add the “no value” items to the $660 million admitted to by APA, or the $810 admitted to by Chairman of the Negotiating Committee Ed White on “APA Live”, and you have concessions well in excess of the $936+ million PDP valuation.
Remember, the vast majority of the numbers came from APA and AMR, not PDP. PDP simply added in a few cost items, such as retirement fund contribution savings, FICA savings, and savings attributed to 2100 additional furloughs, conveniently omitted by APA/AMR, and pointed out some other “no value” items, such as Scope, Domestic Codeshare, and several other items.
Originally Posted by Skypilot
Here another one. How bout that piece you sent by Westbrook? The man actualy thinks that parking the fokers increases pilot productivity. He only counts the debt he want to count. What a riot! I've seen some good replies on C&R demolishing his stuff. You guys going to put out the other side? Thought not! "Unbiased" indeed!
And you offer what, other than misspellings, to counter Captain Westbrook’s commentary?