Expect 50% pay cuts next week
03-17-2020 | 10:57 AM
#51
Gets Weekends Off
Joined: Dec 2019
Posts: 247
Likes: 0
03-17-2020 | 12:59 PM
#53
Banned
Joined: Feb 2011
Posts: 1,629
Likes: 0
From: 756 Left Side
I too am suspicious of this OP, his join date timing, and his initial post content. I even have a suspicion who it is.
Unfortunately: Mods have ZERO control over the vetting process. If a banned guy creates a new disposable email account, he can get back in. We have asked IB to change this; they don’t even know we exist.
And: he technically hasn't done anything that violates the TOU....yet.
Unfortunately: Mods have ZERO control over the vetting process. If a banned guy creates a new disposable email account, he can get back in. We have asked IB to change this; they don’t even know we exist.
And: he technically hasn't done anything that violates the TOU....yet.
When I created my accounts on other platforms, I had to have a verified email and phone number.
Do the same.
Post the email and/or phone number. Give the 'individual' the choice which he wants to have displayed but at least you mods get to verify.
We have now had 2 'posters' who have created their new profiles and on the same day, have started threads that promote fear and uncertainty during what is already a stressful time in many (if not everyone's) lives.
I believe in free speech and am against censorship.
But we know you can't just go into a movie theater (when they were opened) and yell "FIRE"
And you shouldn't be able to create a false profile and then create Fear & Panic.
FS, FP & FtC
Stay Safe, Stay Healthy
Motch
03-17-2020 | 01:06 PM
#54
Banned
Joined: Feb 2018
Posts: 657
Likes: 0
From: B-737 Captain
03-17-2020 | 04:49 PM
#55
Gets Weekends Off
Joined: Jan 2012
Posts: 203
Likes: 0
Everyone,
With all the news and reduction in flying, emergency measures have to be taken. Cash burn is going to kill off the industry, and the government bailout will be too slow to save us if things remain status quo. United has 75-80 days of cash.
As such, I expect the following in the next few days:
1) Massive surplus reduction lines in the neighborhood of 40% of pilots
2) 50% pay cuts on top of those. You won’t get a vote.
3) Furlough announcement of 20-30% of all employees.
The break even on pilot furloughs is one year.
These measures are all preferable to a Chapter 11 Bankruptcy filing, but they might take it into CH11 anyhow so they can renegotiate all of our lucrative union contracts.
After 9/11, flying was halted for three days, and everyone besides SWA and AA was driven into Chapter 11. Management will ensure the survival of the corporation first, but once they have accomplished that they will also find a way to screw the employees.
The government will give us money this time, but not without the unions getting crushed in the process. They wouldn’t give us a $2.1B loan guarantee in 2004, which led to the dissolution of the pensions and another $1.5B in pilot givebacks, but they had no problem giving AIG a $120B bailout four years later.
They (AIG, Merrill Lynch, etc.) then gave themselves bonuses with government money. For the banks and Wall Street, no problem. Unions? Take a number.
Get ready. It’s coming.
With all the news and reduction in flying, emergency measures have to be taken. Cash burn is going to kill off the industry, and the government bailout will be too slow to save us if things remain status quo. United has 75-80 days of cash.
As such, I expect the following in the next few days:
1) Massive surplus reduction lines in the neighborhood of 40% of pilots
2) 50% pay cuts on top of those. You won’t get a vote.
3) Furlough announcement of 20-30% of all employees.
The break even on pilot furloughs is one year.
These measures are all preferable to a Chapter 11 Bankruptcy filing, but they might take it into CH11 anyhow so they can renegotiate all of our lucrative union contracts.
After 9/11, flying was halted for three days, and everyone besides SWA and AA was driven into Chapter 11. Management will ensure the survival of the corporation first, but once they have accomplished that they will also find a way to screw the employees.
The government will give us money this time, but not without the unions getting crushed in the process. They wouldn’t give us a $2.1B loan guarantee in 2004, which led to the dissolution of the pensions and another $1.5B in pilot givebacks, but they had no problem giving AIG a $120B bailout four years later.
They (AIG, Merrill Lynch, etc.) then gave themselves bonuses with government money. For the banks and Wall Street, no problem. Unions? Take a number.
Get ready. It’s coming.
Correction.
Continental Airlines did not file for bankruptcy after 9/11.
Not sure about your other facts.
03-19-2020 | 06:25 AM
#58
Gets Weekends Off
Joined: Jan 2011
Posts: 1,559
Likes: 0
From: A Nobody
It is so tiresome, this CAL vs UAL thing.
These are the facts:
CAL had 2 BKs, 83 and 90.
Financially they were in “distress” at the time of the merger.
https://seekingalpha.com/article/224...ng-with-united
Move on, every airline is in distress now.
These are the facts:
CAL had 2 BKs, 83 and 90.
Financially they were in “distress” at the time of the merger.
https://seekingalpha.com/article/224...ng-with-united
Move on, every airline is in distress now.
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