Quote:
Originally Posted by Reroute
We didn't take a 42% pay cut in BK, we took a 14% pay cut in BK and some other contractual changes...
Reroute-
"..and some other contractual changes"?!?!?!. OMFG that is the understatement of the century!
That's a nice way of skipping over the fact that LOA 51 was the one in which the Moak MEC agreed, in writing, to the hard freeze of our pensions AND to NOT oppose the complete and total termination of our pensions.
I mean, if you want to go the "which Delta MEC was worse" route as you seem to want, then we need to point that out. Pay cuts can be recovered in time, but nobody to my knowledge has ever gotten a pension back.
Most frustrating is that every time I bring this up to a current MEC member, the answer is "our pension met the minimum requirement for a distress termination, so it was terminated".
As though that was the end of it.
In truth, terminating a pension successfully requires all THREE of the following:
1) Meet the ERISA and PBGC requirements for distress termination
2) The corporation officers and board must DESIRE to terminate the pension
3) The corporation officers and board must believe that the employees whose pensions were terminated will allow the company to function thereafter.
Number 1 and number 2 were out of our control, but number 3 we gave them, plain and simple. And in writing no less!
I don't envy the Malone or Moak MECs for the battles they had to fight, but I think you were emphasizing the concessions taken under the Malone MEC and glossing over those taken under the Moak MEC.
Soup