Our local economy and AA's bankruptcy (Fort Worth, West: leases, unemployment rate, transfer)

[loves2read]

How many people think AA's management plan is just more self-service than a reorganization effort?
That there is little/no desire to deal with the retired employees' pensions or to honor as much of current contracts as AA might/could be able to do and still come out of bankruptcy able to be a viable company?

I think the more it sheds its past obligations--whether they be pensions, contracts for leases planes, contract agreements with unions--the more it becomes a take-over target for another airline...

Which makes me wonder what some of the higher level mgmt contracts have to say about being bought out and their golden parachutes...
would that be part of the info brought before the bankruptcy court/judge?

Losing the Alliance base is going to hurt local economy, DFW is going to lose revenue with reduced gates/flights, tax entities will have their AA payouts reduced. retired people will see their purchasing power cut when pensions are reduced, at the very least...and current employees in the area are going to be affected with layoffs or salary reductions...

[Johnhw2]

We all want higher pay and better benefits but the truth is the airline industry has lost money over its entire existence. Thats right no profits if you add together each years results of each airline.

AA tried to offer good benefits but flyers wont pay extra for a ticket (they cant afford to pay extra for anything these days) so the employees get a great pension.

Libs are in denial...wanting nice things to have we can not afford. They bash businesses like manufacturing where our economy can thrive and grow and pay tribute to their religion of green even when we cant afford higher energy prices in todays economy. Forgive my rant but we lack common sense sometimes

[padcrasher]

Originally Posted by Johnhw2

We all want higher pay and better benefits but the truth is the airline industry has lost money over its entire existence. Thats right no profits if you add together each years results of each airline.

AA tried to offer good benefits but flyers wont pay extra for a ticket (they cant afford to pay extra for anything these days) so the employees get a great pension.

Libs are in denial...wanting nice things to have we can not afford. They bash businesses like manufacturing where our economy can thrive and grow and pay tribute to their religion of green even when we cant afford higher energy prices in todays economy. Forgive my rant but we lack common sense sometimes

You just don't know what you are talking about.

When "libs" are in charge as they are in Western Europe, you get better pay and benefits, more job security, with the same unemployment levels. When "libs" are in charge, workers don't see other workers as the enemy.

Workers deserve to get good pay, and people don't deserve to fly to Florida for $99 round trip.

We need more "libs"...not some scared, stooges who buy into everything corporations feed them.

[Johnhw2]

Originally Posted by padcrasher

You just don't know what you are talking about.

When "libs" are in charge as they are in Western Europe, you get better pay and benefits, more job security, with the same unemployment levels. When "libs" are in charge, workers don't see other workers as the enemy.

Workers deserve to get good pay, and people don't deserve to fly to Florida for $99 round trip.

We need more "libs"...not some scared, stooges who buy into everything corporations feed them.

What is the youth unemployment rate in France then? You wont like the answer. Why is the French gov worried about their non competitive jobs condition due to entitlements and high taxes if europe is the nervana you claim incorrectly?

Can you explain california's weak job status if lib policies do so much good? There are many more examples like NY or Illinois if you prefer to address their situations

[Threestep2]

Originally Posted by Johnhw2

What is the youth unemployment rate in France then? You wont like the answer. Why is the French gov worried about their non competitive jobs condition due to entitlements and high taxes if europe is the nervana you claim incorrectly?

Can you explain california's weak job status if lib policies do so much good? There are many more examples like NY or Illinois if you prefer to address their situations

LOL - try Spain with 57% of under 27 unemployed. But there is a shiny side to it. As solar cells are a prime target for recycling theft some companies have come up with alarm systems for this very specific market.

[loves2read]

what does anything like those last comments have to do with this situation

comment in today's paper regarding the AA situation made direct comparison between how the city of Tulsa is handling the possibility of losing its AA maintenance facility and FTW--
Tulsa is taking an active interest in trying to win concessions and GIVE concessions to keep that maintenance facility operational
FTW is doing NOTHING--and then probably will complain about the loss in tax revenue

FTW has given major concessions to Bell Helicopter--there is nothing too liberal or "Democratic" about the FTW city council or FTW city leanings the last time I checked...
so why Bell and not AA???

[Exult.Q36]

Originally Posted by loves2read

what does anything like those last comments have to do with this situation

comment in today's paper regarding the AA situation made direct comparison between how the city of Tulsa is handling the possibility of losing its AA maintenance facility and FTW--
Tulsa is taking an active interest in trying to win concessions and GIVE concessions to keep that maintenance facility operational
FTW is doing NOTHING--and then probably will complain about the loss in tax revenue

FTW has given major concessions to Bell Helicopter--there is nothing too liberal or "Democratic" about the FTW city council or FTW city leanings the last time I checked...
so why Bell and not AA???

Radio Shack is another company Fort Worth gave a sweet heart deal...I am with you on that...They need to do everything in there power to stop that maintenance plant from closing...

[loves2read]

Today's FTW paper had article about the Transportation Workers' Union and the Flight Attendants' Union presenting "retirement" plans to AA that would attempt to protect members who voluntarily left/resigned their jobs w/o AA pulling their plugs...
would offer some (probably larger than AA wants) resignation bonuses and health care benefits to those members with long time in service/close to retirement

while I am sure the AA bosses don't want to accept these proposed retrenchments--what it does is show the bankruptcy judge that there are concessions being offered on part of the unions
these plans apparently would include the same # of employees AA has proposed to cut to achieve solvency
the problem comes because the unions want to lock in benefits that AA would prefer not to spend money on....
When Ford's unions negotiated a deal with Ford several years ago the Unions bought out or transferred control of the health benefits for union workers from Ford to the unions--and got funding from Ford to sustain those programs--
that was big benefit to Ford which left it in a healthier position at the start of the recession than GM or Chrysler were in--
one reason why Ford did not need bailout money to stay afloat...

Unions are being pro-active, trying to take the ball out of AA's leadership in showing they are willing to adapt to new "era"...and this is just for negotiation--they are probably willing to accept less that what they suggest...but they want a dialogue--not fiat decision