Gloopy-spot on
 

You said it better than I did. Thanks for hitting the high points. Most people seem to think "economics" today is simply applied math. It is not... It is political and very subjective.

SGT,
Although I agree with the pay off every month, the use of credit cards fails to account for risk in the "Makes me money" argument. These snakes can change the terms of the agreement AT WILL, eliminating points, increasing fees, enacting a "you pay off your balance every month fee", etc. The 12 pages of small print is very enlightening. We all agreed to those usurious terms when we took the card. I have an AOPA credit card in which BOA increased the interest rate by 6% without any changes in my credit report, job status, etc. Good thing I read one of those "throw away" junk mail looking letters they sent. Called AOPA to complain (20 year member) and they basically said get bent, not their problem.

Sorry for the drift...:(

Trickle-down economics doesn't work. At all(well, except for the very wealthy). And that comes with the the loony guy who might change fiscal policy. The same fiscal policy that was practiced, if not pioneered under your hero Republican party.

So when are you going to run for office and make a difference? If not, please get off the soap box. As much as I agree with some Of the things being said here, this has almost nothing to do with the future of JetBlue and has far more to do with the future of our country which is a whole different discussion board. Please leave the politics out, because that's all this has become is politics. This stuff has as much to do with JetBlue as much as the European debt issues, currency exchange or eastern philosophy. Let's get off the soap boxes and back on topic.

So do you think Lin will be a star in Houston?

Nice!! At least it's not politics.

Very valid points. One other..

I had a friend that did the exact same thing I do except puts a lot more money on the card each month for business. After 2 years of only getting reward cash back and not paying any interest the credit card cancelled him. I cant remember how they worded it or made it happen but they did. They don't like to lose at their own game. It's like Vegas, even when they are losing, they are still winning.

Someone kick the soapbox out!:cool:

Well everyone, I was doing some digging in the AMR Bankrupty forum, and found this little gem. It came from a July 26th conference in L.A. The time has come for US to take hold of our future. We need to make it happen.

Quoted:

Someone asked for this to be posted. I've already voted NO, not on emotion, but i've read the whole LBFO (last best final offer) i've listened to 2 of the 3 teleconferences and attended a roadshow.


Executive Summary: IF the American Airlines / APA Tentative Agreement were to be voted down by a close margin, American Airlines would immediately Re-negotiate to gain a speedy resolution with this key labor group.


Fellow APA Pilots,

We have less than a week before the final tabulation results of American Airlines Last Best Final Offer is revealed. I would be terribly remiss if I did NOT disclose to the membership a dialog session which transpired in Marina Del Rey, CA. The locale was the Warehouse, a restaurant, and I was accompanied by 15 fellow pilots of the LAX domicile, ranging from line pilots, check airmen, Flight Department Pilots who all dined with Captain John Hale and Senior VP of Operations, Mr. Jim Ream.

The meeting occurred on the eve of July 26th. Captain Hale was the financial host of the get together which was arranged specifically to give both Captain Hale and Mr. Ream a cross stratification from the most Junior in our base ranks to the most Senior, from managerial types to union advocates, for the sole purpose of edifying where the rank and file actually stand on this LBFO.

Once dinner was concluded, the small talk ceased as we moved to a more private setting in the restaurant where Captain Hale delivered some opening remarks then handed off the dialog to Mr. Ream who gave us a Macro Economic overview of American Airlines and the goals and Objectives he and others are trying to achieve.

After an opening question by one of our former negotiators was posed regarding the culture of distrust and apparent over reach of this TA, I followed on to ask Mr. Ream a multi faceted question relevant to his Macro vision, which is the heart of my post today.

I stated to Mr. Ream, since it is the public posture of APA for regime change with US AIR being the desired player, that the equity ploy (including F/As & mechanics) would still leave organized labor 15% short of a blocking vote. I felt the POR blocking strategy was indeed a long shot and would very possibly still find us working under a very draconian TA for the next 10 years.

I further stated, I feel American would pursue purchasing JetBlue. Therefore, the existing TA as it stands, leaves the American Airline pilot exposed.

In short, I explained that I felt manipulated and used by BOTH sides and he would not achieve labor peace with the pilots when the depth of deception was revealed. He appeared surprised by how much push back he was sensing from the pilots for he had been led to believe that this TA was a good deal for the pilots inside of bankruptcy.

My question was could He alter the TA before the vote was tabulated, if we could propose a viable argument for why such amendment was necessary.
Mr. Ream responded:

(Not exact quotes, but accurate content, vetted by three other pilots present.)

1) It is the desire of AAL to purchase JetBlue. This would be completed through a complex deal including debt, private equity and preferential shares. He explained that we are far along the road to negotiating this deal and the critical part is HAVING Contracts in place with LABOR. He further acknowledged that the same people that would be loaning us the money for Americans desired POR were consolidating Americans debt. By doing this, they are buying debt at a discounted rate, gaining power on the UCC and have little exposure for they know the financing is viable to emerge from BK.
2) IF the TA were to be voted down by a close margin, they would immediately RE-negotiate to gain a speedy solution with labor. Time being the critical factor to American Airlines due to the in place financing. He stated, the labor stress just ADDS to the Cost of Financing.

3) IF the TA passes, they have done their job for the creditors and have achieved the best deal possible for the debtors.

4) He indicated that changing the TA at this late stage was problematic. The money factor being locked and reported to the UCC. However, he wanted to hear what the pilots felt were the problem areas of the TA.

Dinner was concluded and some very valuable information was exchanged between all parties in attendance. The remainder of the eve was spent discussing the TA and how it affects the pilots. Mr. Ream asked those in attendance to send him 5 bullet points they would want to see in TA #2.

Friday / 27 July:

I was informed that a pilot who was present, had written a debrief and forwarded it to Negotiating Chairman Neil Roghair as well as both LAX Base Representatives.
The remainder of my day was spent sending the attendees 5 Bullet points to Captain Hale and Captain Smith.

Saturday / 28 July:

Captain Hale informed me he was going to be addressing MR. Horton, Ms. Denise Lynn (HR) and would be informing them of the pilots view of this TA from our dialog session.

I assured Captain Hale I would not disclose nor campaign the content of the Warehouse Revelations for five days to allow him to possibly get an internal solution to the very defective TA.

In Conclusion,

True to my word, I promised not to disclose nor discuss the events of 26 July 2012 in order to allow Captain Hale to affect an amendment. Nothing has transpired from either Captain Hales focused efforts, nor has the APA in any official capacity commented on these developments.
PLEASE, Understand this.

1) Americans Stand Alone Plan is fictitious; JetBlue is their goal.
2) The APA is so myopic on management change that we are continuing a course of action, so shaky and anemic in terms of substantiation to the failed logic of you wont have to fly under it.
3) If you Vote YES / In favor of this LBFO, you will likely suffer under its compromised content for a minimum of six years.
4) If you elect to REJECT this TA, American will renegotiate to gain a labor agreement.
5) Last, but certainly not least, I am staking my own personal reputation behind stating these facts of the evenings dialog. My passionate pursuit of doing what is right has led me to revealing these details to you today.

Ladies and Gentlemen of the APA, look within your soul and please find the strength to vote with your dignity intact and overcome your fear.

Respectfully and In Unity,
name deleted by 7576FO
LAX 767 FO International

It's time for us to make the JB management's life a living hell!