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Old 03-28-2020, 04:52 AM   #261  
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Originally Posted by Firefly899 View Post
Chatted with a corp gig. They came out already and told me I would need to resign my seniority number.
I was lucky enough not to need it, so I canít confirm or know the details. But, I believe last time UAL would provide fake letters to furloughed guys.
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Old 03-28-2020, 05:09 AM   #262  
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If thats the case that would be awesome.
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Old 03-28-2020, 05:31 AM   #263  
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Watched episode one yesterday. Pacino plays a convincing Hebrew!!
Wait until you get to the ending... Insane plot twist.
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Old 03-28-2020, 05:47 AM   #264  
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Somehow my wife manages to actually enjoy it, and her job is a lot more secure than mine right now.
I just meant with the virus. Those people are facing some scary stuff every day.
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Old 03-28-2020, 06:27 AM   #265  
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If thats the case that would be awesome.
if this is true, it would be best to keep that info off public forums!
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Old 03-28-2020, 08:48 AM   #266  
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Longing for the great Chef Pilots who would take those resignation letters and file them in the most appropriate place.
7-A-1 says if furloughed you will be recalled in seniority order. I don't see anything in the contract that would allow the company to not recall you.

If you don't accept recall or don't come to class then the contract allows for you to be removed from the seniority list.

I don't know of any pilot of the 2172 that were furloughed post 9-11 that weren't offered recall, regardless of other employment status.
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Old 03-28-2020, 10:02 AM   #267  
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Chatted with a corp gig. They came out already and told me I would need to resign my seniority number.
Go thru your Reps and get in touch with the MEC legal counsel. There have been similar inquiries made already.

Lee
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Old 03-28-2020, 07:25 PM   #268  
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I believe the catalyst for both of our original posts was the view that a company being prudent and stockpiling cash made them a target of corporate raiders. My view is that it shouldn't be legal to leverage a company with it's own assets to turn it overnight into a "corporate pauper". It is harmful to the country, and depending on the size of the company, large numbers of individuals. Since rules/legislation of that sort are unlikely to happen my suggestion, similar to yours, was to give what would be used to buy back stock to the employees. I assert that they are the ones who have made this extra money.

Did the hedge funds, or any other stock owner, make any of this money? No.
How much did they invest in the company? (Unless they, or any other stockholder, bought their shares directly from the company)....ZERO.
They are merely trading in stock as the price shuttles up or down. "They" haven't "made" a damn thing in regards the company they now own a slice of. No purchase of any assets have been made from their buying of stock.
From the companies operational and fiscal performance standpoint, what the stock price does after the initial issuance of a share of stock is immaterial.

As owners, a strong argument can be made that this extra should be paid to them. I don't really disagree with that. However, that's not how we have set this up. The closest we come to it is when a company pays dividends. It is a fraction of what the profits, of the magnitude we are talking, really are. Plus, if your money is in an "investment" firm, you don't get the cash anyway.
In short, profits are not distributed to the owners but rather used in whatever fashion a small group sees fit. Which may include stock buybacks as a form of stock price manipulation.

Ok..I have rambled enough. One thing I have noticed on this message board (the only one I visit) is that many posts come across as shallow. I suspect that is so because it takes too much space to add more depth and all sorts of information that is relevant, plus formative philosophies regarding said information. I certainly know it applies to most of what I post. I try to keep that in mind when I read what others post so as to soften my judgements. My success in that varies.
Stay safe.
(its okay to join the fray and vent in a shallow manner man, nobody comes here for an in-depth intelligent learning experience with continuity and balance, we wonít hold it against you)
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