Year's worth of AA pilots retire in one day
09-04-2011, 08:47 AM
#51
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Joined APC: Apr 2008
Posts: 1,462
Originally Posted by 320ToBearz
What does that have to do with the PBGC? The PBGC can grab payments as far back as 3 years for ANY retiree (normal, late, early, whatever).
That is NOT the case at AMR.
09-05-2011, 05:21 AM
#53
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Joined APC: Dec 2007
Position: Window seat
Posts: 5,261
Speculation. There is no system that gives advance knowledge of the total.
What site? The highest number guys were guessing, that I've seen, is 300+ for Sep/Oct/Nov.
The truth is no one knows, not even the company.
What site? The highest number guys were guessing, that I've seen, is 300+ for Sep/Oct/Nov.
The truth is no one knows, not even the company.
09-05-2011, 12:05 PM
#55
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Joined APC: Mar 2006
Position: guppy CA
Posts: 5,165
Originally Posted by stbloc
Another site indicated up to 500 are expected to retire 10/1. Is this all speculation or is this fact?
09-05-2011, 03:06 PM
#56
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Joined APC: Dec 2007
Position: Window seat
Posts: 5,261
Union rep put out a msg that 500+ guys are over 60(can retire any day) and 100+ guys under 60 have 'locked in'.
Locked in guys do not have to retire. They just 're lock' at the end of the month if they like the latest figures.
A guy not locked in can retire, he's just getting the current market value while a 'locked in' guy is getting the value from 90 days prior(end of month figure).
Locked in guys do not have to retire. They just 're lock' at the end of the month if they like the latest figures.
A guy not locked in can retire, he's just getting the current market value while a 'locked in' guy is getting the value from 90 days prior(end of month figure).
09-05-2011, 04:22 PM
#58
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Joined APC: Mar 2011
Posts: 51
So what happens when you have a (projected) mass exodus like this? From a few posts, it sounds like they can't fill the seats fast enough. Planes are parked, revenue goes down, then BK REALLY becomes a possibility?
Just my uneducated view from the ground.
Just my uneducated view from the ground.
09-05-2011, 06:10 PM
#59
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Joined APC: Dec 2007
Position: Window seat
Posts: 5,261
'They' wonder how many will retire. It's throwing darts at the wall.
The number of guys 60+, or turning 60, is known. The number of guys that are locked in and have to retire, or relock, at the end of September and October is known.
How many will leave? No one knows for a fact. They make assumptions, have their palms read, read tea leaves, pray, light incense, and then wait for the end of the month to roll by. Someone's going to pick the right number. Dumb luck or a reasonable result based on reasonable assumptions? A broken clock is also right twice a day and maybe the guy picked the right time(number).
The retirement bubble creating BK? IMO that's a stretch.
The number of guys 60+, or turning 60, is known. The number of guys that are locked in and have to retire, or relock, at the end of September and October is known.
How many will leave? No one knows for a fact. They make assumptions, have their palms read, read tea leaves, pray, light incense, and then wait for the end of the month to roll by. Someone's going to pick the right number. Dumb luck or a reasonable result based on reasonable assumptions? A broken clock is also right twice a day and maybe the guy picked the right time(number).
The retirement bubble creating BK? IMO that's a stretch.
09-05-2011, 06:19 PM
#60
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Joined APC: Apr 2008
Posts: 1,462
Originally Posted by Sliceback
The retirement bubble creating BK? IMO that's a stretch.
Take it from someone who's got the T-shirt -- find a way to slow down or at least plan the exodus, or you're gonna end up with an underfunded pension and either cancelled flights or retired guys plowing back into Captain's seats. It's a mess either way you go.
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