Any "Latest & Greatest" about Delta?
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Joined APC: Jul 2011
Posts: 273
http://dalrc.pvshosting.info/wsj0204.pdf
A special bankruptcy-proof pension program that Delta Air Lines established to retain its top executives during the airline industry's worst financial crisis hasn't kept some from leaving the company -- and taking their pensions with them.
Already, three of the 35 employees in the retention plan have left, taking along the initial chunk of their special pensions. And under the trust rules, nothing keeps the remaining executives in the plan from leaving the company, with full rights to their trusts, when they are fully funded early next year. In all, the trusts are expected to cost Delta, which is currently seeking concessions from its pilots, about $65 million by early next year.
While top executives -- including Chairman and Chief Executive Leo Mullin -- have received the bulk of the trust payments, company documents show that a number of less- senior employees also have received substantial payments under the plan, including the head of Delta's credit union and several company attorneys. Delta's employee pension obligations are underfunded by about $4.9 billion.
Already, three of the 35 employees in the retention plan have left, taking along the initial chunk of their special pensions. And under the trust rules, nothing keeps the remaining executives in the plan from leaving the company, with full rights to their trusts, when they are fully funded early next year. In all, the trusts are expected to cost Delta, which is currently seeking concessions from its pilots, about $65 million by early next year.
While top executives -- including Chairman and Chief Executive Leo Mullin -- have received the bulk of the trust payments, company documents show that a number of less- senior employees also have received substantial payments under the plan, including the head of Delta's credit union and several company attorneys. Delta's employee pension obligations are underfunded by about $4.9 billion.
***, you creep in here and sling ****** on the wall! You are the Michael Moore of APC...... How many wives have you been through? Are you mental?
Ever notice you only fly with reserve guys?
I wonder how many no fly lists you are on?
just sayin
I never knew *** always gets the *** on APC, WHy is that???
It Is just three letters W T F
It Is just three letters W T F
Gets Weekends Off
Joined APC: Jul 2011
Posts: 273
He has to be a gem. Thankfully, I don't know him. If he's really a DAL pilot, it's embarrassing. Michael Moore is a great analogy.
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Joined APC: Feb 2008
Posts: 19,614
Thats why I did not even bother answering Carl's post. It was clear he had not even watched the powerpoint. They discussed many times the work load on the arbitrators, how many they have ect... You only need look at airline contracts the last 6 years to understand how long it will take.
My source says we are getting the 717. Wish I could say more but not on a public forum. I would be surprised if it doesn't happen.
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Joined APC: Oct 2010
Position: Decoupled
Posts: 922
I don't know the guy personally, but he has impressed me with his activity at the DALPA forum. Seems knowledgeable and very steady.
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Joined APC: Aug 2010
Posts: 2,530
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