New Contract Opener 22 Dec 15
12-28-2015 | 03:43 PM
#131
Gets Weekends Off
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From: "Prof" button manipulator
12-28-2015 | 03:43 PM
#132
Gets Weekends Off
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Would it help?..... not if the airline revisits bankruptcy.
But as a going concern.... absolutely.
Tim is looking for tangible return on the surrendered DB. Its not likely to happen..... but the LEAST the CBA responsible for constructing and perpetuating such a failed economic model should be required to do..... is at least attempt to prevent any further losses for the membership that has paid so dearly for alpas galactic incompetence.
But as a going concern.... absolutely.
Tim is looking for tangible return on the surrendered DB. Its not likely to happen..... but the LEAST the CBA responsible for constructing and perpetuating such a failed economic model should be required to do..... is at least attempt to prevent any further losses for the membership that has paid so dearly for alpas galactic incompetence.
12-28-2015 | 06:07 PM
#133
Gets Weekends Off
Joined: Nov 2013
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From: A320 Left seat
Apparently not enough people asked for this item as it didn't make it on the list. I'm not sure exactly how we would calculate the "loss." My own math counts both Claim and Note monies and the PBGC $; some would not. Last I checked the single employer PBGC is about 75% funded and that is what I use. Backstopping the future PBGC payments would be the "right thing to do," but I'm not holding my breath. OFG
Couldn't Delta just take out an insurance policy in the event of a PBGC failure? Kind of like the golf outings that offer a car if you make a hole in one on a par 3? They don't buy the car, they buy an insurance policy! Just in case someone actually drains one. I'm sure we could find an insurance company to underwrite it. Determine the risk, and estimate how much money it would take to cover what we have coming from the PBGC.
Personally, I'm not counting on the money being there when I retire, but it sure would be nice to believe it's going to be there.
12-28-2015 | 06:30 PM
#134
Straight QOL, homie
Joined: Feb 2012
Posts: 4,202
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From: Record-Shattering Profit Facilitator
12-28-2015 | 07:49 PM
#135
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Joined: Jun 2015
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OFG.......The criminal shame of it all is for $50M/year and a CBA called THE AIRLINE PILOTS ASSOCIATION....... filled with financial and legal experts......NO ONE SHOULD HAVE TO BE ASKING FOR THIS ON A CONTRACT SURVEY.
This is a national issue. The signatory party to alpa pilots working agreements is ALPA.......That is where the gatekeeper resides for this issue.
ANY airline that used bankptcy to relegate an alpa pilot groups pension to the insolvent pbgc should be held accountable in backstopping that benefit payment.
We are not talking about defunct, fragmented carriers..... we are talking about viable multi-billion profitable corporations that USED bankruptcy for arguably the EXPRESS PURPOSE of shedding pension obligations...
If alpa refuses to ratify a Ta without this provison....it can get dun.
This is a national issue. The signatory party to alpa pilots working agreements is ALPA.......That is where the gatekeeper resides for this issue.
ANY airline that used bankptcy to relegate an alpa pilot groups pension to the insolvent pbgc should be held accountable in backstopping that benefit payment.
We are not talking about defunct, fragmented carriers..... we are talking about viable multi-billion profitable corporations that USED bankruptcy for arguably the EXPRESS PURPOSE of shedding pension obligations...
If alpa refuses to ratify a Ta without this provison....it can get dun.
12-29-2015 | 03:27 AM
#136
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Joined: Apr 2011
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From: retired 767(dl)
12-29-2015 | 05:21 AM
#137
veut gagner à la loterie
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From: Light Chop
12-29-2015 | 06:49 AM
#138
Gets Weekends Off
Joined: Jul 2014
Posts: 429
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OFG.......The criminal shame of it all is for $50M/year and a CBA called THE AIRLINE PILOTS ASSOCIATION....... filled with financial and legal experts......NO ONE SHOULD HAVE TO BE ASKING FOR THIS ON A CONTRACT SURVEY.
This is a national issue. The signatory party to alpa pilots working agreements is ALPA.......That is where the gatekeeper resides for this issue.
ANY airline that used bankptcy to relegate an alpa pilot groups pension to the insolvent pbgc should be held accountable in backstopping that benefit payment.
We are not talking about defunct, fragmented carriers..... we are talking about viable multi-billion profitable corporations that USED bankruptcy for arguably the EXPRESS PURPOSE of shedding pension obligations...
If alpa refuses to ratify a Ta without this provison....it can get dun.
This is a national issue. The signatory party to alpa pilots working agreements is ALPA.......That is where the gatekeeper resides for this issue.
ANY airline that used bankptcy to relegate an alpa pilot groups pension to the insolvent pbgc should be held accountable in backstopping that benefit payment.
We are not talking about defunct, fragmented carriers..... we are talking about viable multi-billion profitable corporations that USED bankruptcy for arguably the EXPRESS PURPOSE of shedding pension obligations...
If alpa refuses to ratify a Ta without this provison....it can get dun.
12-29-2015 | 07:22 AM
#139
Quality of Lifer
Joined: Oct 2015
Posts: 691
Likes: 5
From: M88A
OFG.......The criminal shame of it all is for $50M/year and a CBA called THE AIRLINE PILOTS ASSOCIATION....... filled with financial and legal experts......NO ONE SHOULD HAVE TO BE ASKING FOR THIS ON A CONTRACT SURVEY.
This is a national issue. The signatory party to alpa pilots working agreements is ALPA.......That is where the gatekeeper resides for this issue.
ANY airline that used bankptcy to relegate an alpa pilot groups pension to the insolvent pbgc should be held accountable in backstopping that benefit payment.
We are not talking about defunct, fragmented carriers..... we are talking about viable multi-billion profitable corporations that USED bankruptcy for arguably the EXPRESS PURPOSE of shedding pension obligations...
If alpa refuses to ratify a Ta without this provison....it can get dun.
This is a national issue. The signatory party to alpa pilots working agreements is ALPA.......That is where the gatekeeper resides for this issue.
ANY airline that used bankptcy to relegate an alpa pilot groups pension to the insolvent pbgc should be held accountable in backstopping that benefit payment.
We are not talking about defunct, fragmented carriers..... we are talking about viable multi-billion profitable corporations that USED bankruptcy for arguably the EXPRESS PURPOSE of shedding pension obligations...
If alpa refuses to ratify a Ta without this provison....it can get dun.
12-29-2015 | 07:46 AM
#140
Gets Weekends Off
Joined: Jun 2015
Posts: 4,116
Likes: 1
OFG because of thru criminally incompetent manner in which alpa had structured our DB plan..... with nearly half the benefit streaming from current year operating revenues..... just like fuel and leases..... it was an argument any 5 year old could have made to the court and prevailed.
That is why.... the morning after the bk filing..... the very first operating expense the corporation asked the court to terminate..... was the payment of the unqualified portion of the pension plan.
And the retired guys got zeroed out immediately.
What I am advocating is an effort to prevent history from repeating itself..... again.
That is why.... the morning after the bk filing..... the very first operating expense the corporation asked the court to terminate..... was the payment of the unqualified portion of the pension plan.
And the retired guys got zeroed out immediately.
What I am advocating is an effort to prevent history from repeating itself..... again.
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