Originally Posted by
Bow Rider
Thanks,
travelineman. And let me say welcome to FT, that was a great opener. No idea why no one said anything.
A frickin great source of info on the bankruptcy laws, as passed by Congress, and on UA's travels through it. The experts and top dogs interviewed were quite good. I was thinking that it was one sided but Tilton refused to be interviewed. That was telling, IMHO.
That was the best Congress that money can buy. Just like today.
Originally Posted by
donnerparty
great piece and very depressing that management would leave the workers holding the bag for their errors.
Originally Posted by
Sam Drucker
Actually, I watched Chapter 2, which dealt with the UA bankruptcy and it's effect on employee pensions, then watched the rest of the program dealing with retirement issues in general. Very telling indeed, and the program was produced 5 years ago. Thanks for posting this.
Thank you.
Originally Posted by
LIH Prem
This is really old stuff and his been hashed and rehashed on flyertalk back when UA went through their bankruptcy.
-David
It's again relevant now due to the current employee negotiations, the first since the video.
To flyers, it could affect the operation over the next 6-12 mos. or more.
Originally Posted by
travel.flier
Thx for posting, interesting video. Seems the USA is headed the way of United what with $15T in debt and some $50+ Trillion in unfunded Social Security/Medicare liabilities. Too bad there's not a PBGA for the entire country. Glad I work for a company that gives defined contribution pensions and not a defined benefit plan. Glad most companies are moving that way - if only everythign in the world worked that way!
Sad for the employees, but rather than complain all day about it - why not just leave the company? THat attorney said it best - the company will cut as far as they can until people quit. If all the employees walked out the door and went to work for WN or in a different industry, then UA would have no choice but to raise their payscales.
Agreed on the first para.
Second para., that makes sense for the agents/ground workers/flight attendants because their
seniority pay/benefits aren't significantly different from those of starting over.
But for mechanics/pilots, the seniority system returns them to compensation of someone fresh out of college if they choose to leave.
Imagine a professional with twenty years experience being returned to college grad pay and benefits if they leave their firm.
This is the main source of the conflict, that normal free market supply/demand is skewed, preventing people from leaving.
The focus on minimum pay and the lack of a valuation for experience/skill has already made flying UA/CO Express a question in my mind.