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View Poll Results: Do you plan to take the VEOP offer?
I'm age 60+, Definitely Yes
6
2.83%
I'm age 60+, Leaning Yes
13
6.13%
I'm age 60+, Leaning No
3
1.42%
I'm age 60+, Definitely No
5
2.36%
I'm age <60, Definitely Yes
5
2.36%
I'm age <60, Leaning Yes
6
2.83%
I'm age <60, Leaning No
6
2.83%
I'm age <60, Definitely No
23
10.85%
Not eligible, but would take it if I were
121
57.08%
Not eligible and would not take it
24
11.32%
Voters: 212. You may not vote on this poll

Better VEOP Poll

Old 06-27-2020, 06:41 PM
  #21  
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Originally Posted by Wolf424 View Post
Denny,

Why is it a forgone conclusion to everyone that a bankruptcy judge would throw out the EO completely and cease all payments and not just reduce the pay by X% like everyone else still active? (Serious question). This isn’t the DB...on the grand scale, the early out isn’t an expensive item.
Because the LOA is likely to be deemed an unsecured executory contract and, in any bankruptcy action, the Bankruptcy Code authorizes a Chapter 11 debtor-in-possession to reject any executory contract where it is in the best business judgment of the debtor-in-possession to do so. D-I-Ps practice slash-and-burn agriculture when it comes to executory contracts. They don't want to pay out any more than they have to
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Old 06-27-2020, 06:45 PM
  #22  
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If the ALPA call to action law passes then all contracts will be bankruptcy proof, including early outs!
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Old 06-27-2020, 06:51 PM
  #23  
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Originally Posted by FL370esq View Post
Because the LOA is likely to be deemed an unsecured executory contract and, in any bankruptcy action, the Bankruptcy Code authorizes a Chapter 11 debtor-in-possession to reject any executory contract where it is in the best business judgment of the debtor-in-possession to do so. D-I-Ps practice slash-and-burn agriculture when it comes to executory contracts. They don't want to pay out any more than they have to

Copy thanks...but didn’t some of that law language change since the last BK? Forgive my ignorance on the subject.

Also, would the “Call to Action” ALPA has been pushing cover this in BK?
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Old 06-27-2020, 07:40 PM
  #24  
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The severance language may address the issue. Have to read the fine print
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Old 06-27-2020, 08:26 PM
  #25  
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Originally Posted by Wolf424 View Post
Denny,

Why is it a forgone conclusion to everyone that a bankruptcy judge would throw out the EO completely and cease all payments and not just reduce the pay by X% like everyone else still active? (Serious question). This isn’t the DB...on the grand scale, the early out isn’t an expensive item.
I'm not saying it is a forgone conclusion but......it is an easy target to reduce costs. Who’s gonna fight to keep it? Dalpa?
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Old 06-27-2020, 08:31 PM
  #26  
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Originally Posted by LumberJack View Post
If the ALPA call to action law passes then all contracts will be bankruptcy proof, including early outs!
Sorry for the negativity but probably be a cold day in H E double hockey sticks before that passes and gets signed. Besides it will probably be too late if it does eventually pass.

Denny
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Old 06-28-2020, 03:55 AM
  #27  
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Originally Posted by SideSticker View Post
Im willing to bet that anyone over 62 not taking this deal is probably already on my no fly list.
I just turned 62 and I'm not taking it. The medical insurance for two years only is a deal killer, so is the lack of BK protection. I can sit reserve as a 330A and pretty much not work very much...
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Old 06-28-2020, 04:57 AM
  #28  
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I am 60 so the package does not look very good with 3 years pay and insurance for only 2. Having said that I will probably sign up since I will have until August to revoke. No harm in keeping the option open till the last minute.

So unfortunately the initial take numbers may not be accurate.
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Old 06-28-2020, 06:04 AM
  #29  
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With the revocation option at a later date, it’s really a nobrainer to sign up and see where you stand. The real decision will have to be made sometime in the second half of August.

Denny
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Old 06-28-2020, 06:12 AM
  #30  
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Originally Posted by hookshot123 View Post
I am 60 so the package does not look very good with 3 years pay and insurance for only 2. Having said that I will probably sign up since I will have until August to revoke. No harm in keeping the option open till the last minute.

So unfortunately the initial take numbers may not be accurate.
Not to try to one up you, but......."The initial take numbers will be highly inaccurate".
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