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Pilots Go To Arbitration


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#41 seeker

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Posted 22 May 2012 - 04:28 PM

Dagger;

You're right about this, the method and formula for calculating plan solvency is not divinely handed down from the gods - it's a calculation based on historical facts that seemed to work in the past, we're in an abnormal economic situation so maybe the method for calculating solvency needs to be modified. Management would love to "fix" this while we are in this situation but eventually the government will modify the rules acknowledging the special circumstances we all find ourselves in. This is not to imply that the "fix" will be cost-free for the employees because I don't necessarily think this will be so but I do not think that the government will allow the pension issue to take Air Canada, or any other company, down.

#42 dagger

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Posted 22 May 2012 - 06:51 PM

If we measured inflation the way we used to, it'd be about 7 or 8%. With that, interest rates would be much higher and these pension deficits would be history. But then that would destroy the big money agenda of killing pensions while making the rich even richer. What other reason could there be for it???


But the US measures pension solvency differently. Are you saying their "corporate agenda" is less aggressive than ours?

#43 rudder

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Posted 21 June 2012 - 06:40 AM

They are closer to a deal than this article indicates. Details of the rejected TA are out there. APA is asking to re-engage to write clearer language in the area of proposed work rule changes. Economic terms for the pilots include a 13.5% equity stake in the restructured company as well as immediate pay and pension uplifts. Not bad for a company masquerading as bankrupt.

#44 rudder

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Posted 22 June 2012 - 05:29 AM

The Allied Pilots Association is telling its members in a Thursday hotline that its board of directors has more time to review American Airlines’ last, best and final offer,” but not too much time –* only until Wednesday, June 27:

“At the request of APA and AMR management, United States Bankruptcy Judge Sean Lane has agreed to stay his ruling on our collective bargaining agreement until Friday, June 29. Judge Lane is presiding over the AMR restructuring case and is considering management’s motion to abrogate our collective bargaining agreement.

“The interim period is intended to give APA and management additional time to discuss and deliberate details of management’s ‘final offer’ and to develop related contract language. In voting ‘no’ yesterday against approving management’s final offer as a tentative agreement, Board members cited the lack of specificity in various areas and the need for additional time to properly analyze various contractual provisions and related language.

“Once APA and management have had an opportunity to address the APA Board’s concerns, the Board will vote again on whether to approve management’s offer as a tentative agreement. At Judge Lane’s request, that vote is to take place no later than close of business on Wednesday, June 27.

“Meetings between APA and management are slated to continue through this coming weekend. The APA Board of Directors will reconvene on Monday, June 25 following a weekend recess to provide guidance to the APA negotiating team in the ongoing discussions.”


#45 rudder

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Posted 28 June 2012 - 05:31 AM

American Airlines, pilots reach tentative contract



(Reuters) - Pilot union leaders at American Airlines reached a tentative agreement with management on Wednesday on a steep cost-cutting contract aimed at heading off a threat by the carrier to abandon the current deal in bankruptcy and impose stricter terms.

The Allied Pilots Association board voted 9 to 7 to send the last and best offer to its membership for consideration, the union and the company said.


http://finance.yahoo...-002343695.html


#46 conehead

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Posted 28 June 2012 - 07:23 AM

The Allied Pilots Association board voted 9 to 7 to send the last and best offer to its membership for consideration, the union and the company said.


That's a close vote...