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Old 09-12-2012, 08:15 PM   #1  
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Default AA pilot contract now officially ABROGATED

Real and significant work rule changes enacted as of today, 9/12. A fund to be frozen or terminated, B fund to be terminated Nov.1st. The war has started. AA has engaged in "self help".
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Old 09-12-2012, 08:39 PM   #2  
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AMR Risks Bankruptcy Delay on Pilot Rift as US Air Waits
By Mary Schlangenstein
September 12, 2012 4:28 PM EDT
Bloomberg
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Old 09-13-2012, 04:01 AM   #3  
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B-fund is actually terminated Nov 30. Last contribution is Nov 1.
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Old 09-13-2012, 05:22 AM   #4  
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Wheres the Log Book???

Oh the standby Altimiter Vibrator is intermittent better call maint..

Also we seem to have some missing pages from the MEL book...
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Old 09-13-2012, 05:51 AM   #5  
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The B fund termination is actually a good thing....It's currently run by JP Morgan and the performance/fees are rediculous. Supposed to be replaced by 13.5% 401k match...after a T/A passes.

For now, "NO SOUP FOR YOU!!!!"
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Old 09-13-2012, 05:55 AM   #6  
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Going to have to stick it out till next May, but maybe sooner if the UCC backs AMR's stand alone plan and it's accepted by the court leading to chapter 11 exit. Few have any interest in further negotiations with this management, although the APA may posture that, the pilots aren't interested in anything not industry leading now. I think the UCC and AMR are on their own now and the remainder of the BK process should be about legal recourse to the 1113 abrogation.

No hurry now for the pilots as we are where we are. The claim is still valid, although likely greatly reduced, but I'll happily take a 1/3 or 1/2 claim to kick this can past chapter 11. I think AMR will need one more exclusivity extention to put in place their stand alone POR and ensure the UCC is on-board for the crap game of crap games next summer.

Jack was indeed wrong when he told the court a consensual agreement was necessary to exit BK, as that is now all but impossible, so that is now what it is.
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Old 09-13-2012, 05:58 AM   #7  
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Quote:
Originally Posted by jacjetlag View Post
The B fund termination is actually a good thing....It's currently run by JP Morgan and the performance/fees are rediculous. Supposed to be replaced by 13.5% 401k match...after a T/A passes.

For now, "NO SOUP FOR YOU!!!!"
I think it is VERY important NOT to roll your B-fund into the JPM 401(k). You will be FAR better off rolling that into a regular or Roth IRA through one of the reputable brokerages like Fidelity or Schwab.
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Old 09-13-2012, 10:26 AM   #8  
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These guys are going to take everything fast. The only thing you have is to strike soon. And this time tell the President of the United States to screw himself. If he wants to put pilots in jail, let 'em.
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Old 09-13-2012, 05:14 PM   #9  
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Quote:
Originally Posted by beeker View Post
oh i didn't know that, i read it as termination of b fund with nothing replacing it. That would have been extreme.

You read it correctly. As of right now there is no other retirement plan. "TBD".
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Old 09-13-2012, 07:02 PM   #10  
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Quote:
Originally Posted by jacjetlag View Post
The B fund termination is actually a good thing....It's currently run by JP Morgan and the performance/fees are rediculous. Supposed to be replaced by 13.5% 401k match...after a T/A passes.

For now, "NO SOUP FOR YOU!!!!"

Plenty of Soup. Just no one is eating it. Not to sure how accurate your 13.5% is. It would be like 17-18% to even out loss of A/B fund.

Last edited by Rider850; 09-13-2012 at 07:33 PM.
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