Originally Posted by
pipe
Regarding Capt Morse's explanation letter today (for those who have access):
1) Does every MEC keep an investment banking firm on payroll?
2) If so, why?
3) If not -- why does the UAL MEC keep one on payroll?
4) If the UAL MEC has some phenomenal pot of money that requires an investment banking firm to handle it, aren't there plenty of them out there that will do so on a performance fee basis?
5) Does anyone ever look at the UAL MEC numbers when ALPA does the mandatory disclosure of major contingency fund expenditures each year? The UAL MEC routinely spends 5-10 times as much as their nearest "competitor".
I don't pretend to understand all of the inner workings here, but I'd like to. At a glance, things look like they could bear closer examination.
PIPE
What CadetDriver said with these additions.
The IB is not to manage some big pot of money, but to give the MEC advice on mergers and other matters where ALPA's Economic and Analysis Dept might have a "conflict of interest" in matters that might pertain to two different ALPA properties.
WRT the MCF ... the UAL MEC spent more of the MCF money because of the labor disputes they have been involved in over the years. FWIW ... they have also contributed more to the MCF than any other property.