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Originally Posted by Noisecanceller
(Post 3685529)
autocorrect. Furloughs NOT early out packages.
You cannot compare GDP of the country to this profession but that graph proves that as bad as 2008 was it was really the retirement age change that screwed everyone the most. If you didn’t live it then you have no idea what it was like. Retirement age increases have effects you cannot put into words. Just watch when it happens. Our minimums will go right back to 4000TT and 1000TPIC when we eventually start hiring again which may take a while. We don’t even have that many retirements but it’s an industry ripple. Attrition will stop. Add in NEO issues, merger, any significant economic slowdown. It’s not going to be fun. |
Originally Posted by Noisecanceller
(Post 3685529)
autocorrect. Furloughs NOT early out packages.
You cannot compare GDP of the country to this profession but that graph proves that as bad as 2008 was it was really the retirement age change that screwed everyone the most. If you didn’t live it then you have no idea what it was like. Retirement age increases have effects you cannot put into words. Just watch when it happens. Our minimums will go right back to 4000TT and 1000TPIC when we eventually start hiring again which may take a while. We don’t even have that many retirements but it’s an industry ripple. Attrition will stop. Add in NEO issues, merger, any significant economic slowdown. It’s not going to be fun. READ WHAT I POSTED. It wasn’t just the retirement change, but the fact that Delta declared bankruptcy in 2095 and defaulted on their pensions: https://www.pionline.com/courts/delt...filings%20said. United declared bankruptcy in 2005 and defaulted on their pensions: https://www.nytimes.com/2005/05/11/b...ion-plans.html And American threatened pension default to force salary givebacks and freezing of pensions with conversion to 401Ks in their bankruptcy. https://inthesetimes.com/article/a-v...re-still-looks And then there is still the math. A two year change from 65-67 simply will not have the same impact as a four year change that was largely approved to allow the pilot who had been hammered by their company’s bankruptcy to try to offset the retirement funds and salary they had just lost. It is not remotely as severe even in the unlikely event it actually happens. |
Originally Posted by Excargodog
(Post 3686101)
Autocorrect turned “furloughs” into “early out packages”? YGBSM
READ WHAT I POSTED. It wasn’t just the retirement change, but the fact that Delta declared bankruptcy in 2095 and defaulted on their pensions: https://www.pionline.com/courts/delt...filings%20said. United declared bankruptcy in 2005 and defaulted on their pensions: https://www.nytimes.com/2005/05/11/b...ion-plans.html And American threatened pension default to force salary givebacks and freezing of pensions with conversion to 401Ks in their bankruptcy. https://inthesetimes.com/article/a-v...re-still-looks And then there is still the math. A two year change from 65-67 simply will not have the same impact as a four year change that was largely approved to allow the pilot who had been hammered by their company’s bankruptcy to try to offset the retirement funds and salary they had just lost. It is not remotely as severe even in the unlikely event it actually happens. The reasoning behind the the 60-65 age change can be debated but it’s irrelevant. The effect on the careers of everyone else is what we are talking about. |
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