Originally Posted by forgot to bid (Post 1380917)

So just to understand, he wants pensions restored for pilots employed from 2002 to when age 65 was signed? Or all of us?

I don't want a pension. They have a tendency to be frozen and eliminated. No bueno.

Originally Posted by UncleSam (Post 1380980)

This has nothing to do with active pilots and will not affect them in any way. It is an attempt to restore (partial or whole) the monthly checks that pilots who were retired at the time of the BK lost. For many of them the non-qualified check was most of their monthly retirement income and it vanished on September 14, 2005 when the company asked the BK judge to stop those payments.

Originally Posted by Carl Spackler (Post 1380865)

Instead I pay union dues to an organization that is little more than the communications arm of management. And a spin producing body that describes this perceived losing...as actually winning.

Carl

Originally Posted by NWA320pilot (Post 1380970)

The guy on the motorbike is only riding with half a front tire! :rolleyes:

Originally Posted by DogWhisperer (Post 1380941)

Did y'all catch the story last week about the leasing company that sold 6 717 airframes to an undisclosed buyer for 17 million.... Was told that there was a possibility that we were going to get one or two 717s early and they were going to be used for training..... If'n we just bought 6 more that could be here ASAP, maybe training may be happening quicker than the Boys of Summer planned. Hhmmmmmm.....

Originally Posted by iceman49 (Post 1380777)

Laser printed flt plans in mid May! Yeah

Originally Posted by slowplay (Post 1380665)

C2K lasted until just 6 months short of its amendable date (5/1/05). While those that were on the property point to the payrates, they fail to average in the 1310 guys who received almost ZERO from that contract. Leo Mullin left Delta 11/2003, a year ahead of LOA-46 and reductions from C2K rates.

So your timeline here is confusing to me...as an "astute watcher" (sic) are you asserting that Delta's bankruptcy was planned during the summer of 1997? Mullin showed up in September of that year. Also, for timeline purposes, which USAir and CAL bankruptcies are you referencing?

You realize that the best year of profits for Delta was 1998, right? We recorded a 12% margin and the stock traded at a peak around $140/share that year. 1999 also produced over 10% returns. And the guys that sold their first lot of options made about $30K. The second lot was nearly worthless, and I don't think the 3rd lot ever paid, but the appreciation in stock price and option income was significant (at least for me).

Oh, and one other thing, while Mullin proved incompetent at running an airline, he'd been in the railroad industry and helped cobble together what became Conrail from the ashes of 7 other companies. He wasn't just a banker/consultant as you portray him. Fred Reid had been the President and COO of Lufthansa. So there was some airline experience in the executive suite, it was just disconnected from post 9-11 reality.



C2K wasn't achieved until April of 2001, so I think your timeline is wrong. At 1996 contract rates the pension would have had significantly less pressure. While the dotcom bubble was bursting in 2000, the rest of the market and interest rates hadn't yet tanked, so pension funding wasn't yet a major source of management angst. There were a bunch of us talking about not having enough in our own name, but the perfect storm had not yet formed.



American didn't become a competitive monster...they were in the 80's, but after 9-11 they were the first to the employee concession trough after an ill-timed and conceived merger with TWA. Then they did nothing with their competitive advantage (lower cost labor) until they went bankrupt. USAirways was in BK - twice. UAL followed suit. DAL and NWA didn't go until September 2005. USAirways/AWA didn't get their act together until 2006.

So while your post is interesting reading, the timeline is very different from the facts as I know them.

Originally Posted by Denny Crane (Post 1381024)

Hey Fiigmo I tried to PM you after you went to the base meeting. Did you get it?

Denny