Mitch Cronin Posted March 3, 2004 Share Posted March 3, 2004 A snip from an article by the IAM's Paul Lefebvre (president of LL2323):"If Mr. Li wants to walk, we should help him pack. There are other investors out there; perhaps including some 30,000 Union represented employees including ourselves. In our eyes a deal is a deal, regardless of this latest display of 21st century corporate ethics. That said, we assume that we will soon start to hear the threats of imminent liquidation unless Ågyour Unions come to their sensesÅh. For most of us it will be nerve wracking to receive a daily diet of such negative news stories. Be prepared to ride this media storm. Your Union representatives, with the assistance of our Pension Lawyer, Hugh O’Reilly, are working with the other Unions and pension stakeholders to stop this latest outrageous demand in its tracks. Your Local Lodge will coordinate this effort with them. What can you do? Call your M.P.’s. A Federal election is months away, likely in May. Together we can enlist the support of a group of Parliamentarians who will soon need our votes. In return they can be asked to offer their backing to help finalize Air Canada’s successful exit from CCAA. We know this is possible, but it won’t happen without our collective insistence. Last year this Lodge was informed by a Bay Street insider that the government would not jump in to save Air Canada as it was – debt ridden. However, he advised that when a debt reduced Air Canada was "a few hundred million dollars short of a successful CCAA exit, they (government) could be convinced to close the deal with some assistance rather than witness such a large and high profile failure"."...the full article is at: http://www.iamaw.ca/new/LL2323/pres_pensions_e.html Link to comment Share on other sites More sharing options...
Guest CDB Posted March 3, 2004 Share Posted March 3, 2004 wow O_O Send all private investors running, sway union members to vote for a given political party, and expect the government to offer up cash in return for votes? Brilliant plan! This is a band-aid solution, similar to what happened and what is still happening in the US with their government bailing out the traditional airlines with money and pension relief. This does not examine the problems at the root of all this mess, it merely delays change. Link to comment Share on other sites More sharing options...
Stickle Posted March 3, 2004 Share Posted March 3, 2004 It befoggles one mind to see that the unions are once again prepared to let this whole thing die on the vine. I read through some of the posts below and there are just too many "give 'em hell" posts referring to support for the unions position on this. Let's assume for a moment that TTI does pull the plug. The unions position is that some other white knight will just waltz in and safe us. But at what price. With TTI demonstrating that they couldn't make it at 650 million and there is a general lack of cooperation between the company and the unions it will be firesale priced. In all likelihood the next investor will be nothing more than a vulture fund that will rape and pillage the company to get a quick return. Oh ya... Call your MP they need our votes. This hasn't worked in the past and the general public at large would go ballistic if they forked over a huge bailout. There was a thread a week or so ago about the political alternatives in this country. As much as they like to say that they are highly politically connected the unions really have little power in today's political picture. IMO Link to comment Share on other sites More sharing options...
Guest lupin Posted March 3, 2004 Share Posted March 3, 2004 quote by stickle "With TTI demonstrating that they couldn't make it at 650 million " I beleive trinity CAN make it with their 650 million dollars. By renegotiating various aspect of pension and benefits they are only trying to maximize return on investment.Why invest in AC if you can make better returns elsewhere?Its only logic for them to try to make the best return possible.If their margins aren't good enough with what was negotiated previously they will go after more cuts.Its part of business. If you take a close look at husky energie(owned by mr li I beleive),you will find it is one of the oil companies with the highest employee turn-over rate.If AC is too be operated the same way(as present tendencies seem to indicate) the future is not all that bright. Lets hope this all get resolved quickly,The unions don't want to budge but at some point everybody will have to meet and discuss things to get us moving forward again. Lupin Link to comment Share on other sites More sharing options...
LongTimer V Posted March 3, 2004 Share Posted March 3, 2004 Not,Pam,Buzz or Dave etc.... Link to comment Share on other sites More sharing options...
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