<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Brian:
This is a "survival of the fittest" matter. Since the new UA will not have to negotiate based on current contracts, it is very likely that they will receive less i na new job than they would have received in a negotiated agreement that avoids bankruptcy.</font>
The contracts can only be rejected if:
The court shall approve an application for rejection of a collective bargaining agreement only if the court finds that -
(1)the trustee has, prior to the hearing, made a proposal that fulfills the requirements of subsection(b)(1);
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">(b)(1)Subsequent to filing a petition and prior to filing an application seeking rejection of a collective bargaining agreement, the debtor in possession or trustee (hereinafter in this section ''trustee'' shall include a debtor in possession), shall provide, subject to subsection (d)(3), the representative of the employees with such relevant information as is necessary to evaluate the proposal.</font>
(2)the authorized representative of the employees has refused to accept such proposal without good cause; and
(3)the balance of the equities clearly favors rejection of such agreement.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">In addition, UA stock will almost certainly be valueless</font>
It's already reached that stage.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Instead of posturing and playing spite games, employees should be rolling up their sleeves and getting to work with management. [/B]</font>
UAL employees did that once already and this is what it got them, do you really believe they would be dumb enough to do it again.
[This message has been edited by Jacque (edited 08-26-2002).]