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To Scrap All Pensions


Guest WA777
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Guest WA777

If there is anyone else left who would be willing to put money into AC they can almost certainly be expected to demand much more than Trinity.....probably the end of pensions just as a starter....if the unions think that something better is out there and the status quo can remain then they are even dumber than they already are tonite. A COLOSSAL STRATEGIC BLUNDER on their part...IMHO....better the devil you know than the one you don't........

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Guest directlaw

I am not sure if TTI is gone.....yet.

Milton and Mr. Li meet all last weekend. Mr. Li reaffirms his support for AC although wants pension change.

Wednesday, with justice Farley, TTI states that they still want to go ahead with the purchase but they want pension change.

Friday TTI notifies AC that they are walking..... sort of.

TTI knew last weekend ( probably sooner) what the 2003 numbers were like. They also had, I am sure, at least preliminary numbers for the fist quarter. I am sure, through due diligence, they had an opinion of labor concessions back in October. What changed between last weekend and Friday?

The only thing I can think of is that if they did this before Wednesday Farley would have either liquidated the company or restarted the solicitation process. By doing it after Wednesday it gives TTI 15 days where everyone thinks they are leaving but the solicitation process is not really going and the company is not liquidated. But there is massive pressure on the unions.

I am not saying this is all about manipulation on TTI's part. I think they are serious....they will walk if they don't get what they want. But I don't think they are gone......yet.

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Guest WA777

And where is Judge Farley in all this...I know that the precedents are few but he does have the power to open contracts and use the "Force M" to make changes...IMO its long past the time to take the hammer to these idiots who could care less about what is going on in the real world...Boy am I &%$@!!

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Guest WA777

And where is Judge Farley in all this...I know that the precedents are few but he does have the power to open contracts and use the "Force M" to make changes...IMO its long past the time to take the hammer to these idiots who could care less about what is going on in the real world...Boy am I &%$@!!...I probably should go watch Leno and have a (B)

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What has happened since last Friday to sour the deal?

One union says 'Take the boat back to China'.

Another negotiates a deal and then it is overturned.

Another union says 'We don't need your money'.

Another union takes out newspaper adverts that say 'Service is priceless' even though they negotiated only job cuts a few months ago.

I think that TTI and Li in particular just had enough.

The last 3 months financials at Air Canada showed hope, but the labour environment finally showed that the future had no hope.

I bet that money was not the deal breaker in the end.

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Guest eights wild

I can't believe some think TTI's move is still a tactic. Since we are talking about boats so much -It's left the harbor and were obviously not on it!

Lets rope all our union leaders together, they should float good with all that hot air.

I think TTI will now go into a holding pattern, waiting to pick the bones of the former AC.

-

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Thanks. My thoughts exactly.

Amazing how someone could possibly look back over the events of the last week and wonder what has changed since last weekend....

Kinda limits my credence in the quality of the speculation that Li is still in the picture.

IMO, the most poignant statement from Trinity is their opinion that "without a change in the manner in which Air Canada's employees are organized and their interests [are] represented , Air Canada will not likely achieve a sufficient fresh start to prosper and grow".

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