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May 1999 to May 2009 Pinnacle Contract

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Old 03-17-2009, 06:37 AM
  #51  
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Joined APC: Jul 2005
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Originally Posted by Airsupport
no. look how quickly you got a new contract when OWNERSHIP changed hands. your safety campaign did nothing. it was the fact that uncle jerry went down there and said to settle this thing now.



no way in a million years does pinnacle want to file for bankruptcy.

1. uncle phil and his boys own a lot of stock, and they bought LOTS of it at 10 bucks a share.

2. the company bought back millions of stock at 14 bucks a share.

3. we have no real assets.

NONE and i repeat NONE of the people we owe money to want pinnacle to go into bankruptcy and they would not even ask for it. We have no assets for them to get there money out of us in bankruptcy court. there best bet is to just let the payments slide, like it said in the press release. this big debt that is due in 2010 is just a scam to scare people who dont understand what is going on. So lets say the day comes around and we dont have the money. what are the people that we owe money to going to do? force us into bk and liquidate? they would get 0 for that since we dont own anything. nope they will just let us make good size payment and renegotiate the rest of it. dont be fooled by the scare tactics.
Never said they'd actually file bankruptcy...just that they'd threaten it if we don't give concessions. They've now said in SEC filings and a conference call that the pilots would get a contract in 09. I think the reasons are multi-fold and in no way includes doing it because it's the right thing for the pilots. It may bring stock prices back up; it would look like a more stable company to possible customers; it would also make mgmt look good in the public's eye to say even in these economic times "we value our workers" and could potentially make the pilots look bad "greedy pilots union demand pay raise amid economic turmoil and layoffs at their own company"; also, when the 131mil is due, they COULD ask for concessions CLAIMING possible bankruptcy...no way we go bankrupt, but I don't put it past this team. Again why the timing...why now? Of all times, why now? I suppose they may be scared of the new NMB, but there's more behind it than that.
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Old 03-17-2009, 06:44 AM
  #52  
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Originally Posted by CanyonBlue
Noseeum is correct. They could care less about their employees and will NEVER invest anymore than they are forced to by outside sources (eg- FAA/NTSB). Anything more than that is a waste of their money and bonuses.

Managements' plan was working pretty well for years when they would just continue to extend the current contract and mid-level to senior Captains were flooding out the door. Now the music has stopped and there's no where to go...

Think about it, every time a 7yr Captain goes out the door that's just another 20 grand of retro pay the company gets to pocket. Now that's not happening.

I still don't see management making any contract movement until the pilots are released by the NMB, and that is still going to take some time...even at this point.


Make one thing clear, the company and CFO are scrambling to cover this note. You can read it in the 10k transcript and in the conference call. Just listen to the questions from the investment firms.

CB
If we are released, mgmt loses...they know that...release is their death knell. That's one of many reasons they're now saying "contract in 09" in every public place they can...not just on the earnings report. They want that in the mediator's mind..."Hey, mr (or mrs) mediator, just give us time, we're gonna give them a contract this year...PLEASE dont release!" If we get released, we will make them bleed like they have us the last 4 years...let's see, 4 years on the cheap for labor being paid less than average...that should equate to 4 years being a good bit above average to make up for interest lost and complete retro...
a possible industry leading contract if we're released. They need to settle now...it's the perfect timing for mgmt. That's the only reason they're talking about contract in 09.

Last edited by HIREME; 03-17-2009 at 06:46 AM. Reason: added info
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Old 03-17-2009, 10:21 AM
  #53  
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It is a good sign that Phil stated he expects the cost of labor to rise in '09 due to a new pilot contract, but... I will believe it when I get a check that has a number on it that I can safely call "a barely livable income". And even then we'll probably have massive payroll errors for the next 24-36 months after a contract.

So many things need to improve at this place. At this point I can't even imagine upgrading into the airport reserve nightmare that all the junior captains are having to live through. This isn't a case of "paying your dues" it's a case of VERY poor contract guidelines and I will be dreadfully disappointed if all this crap isn't washed away in the new contract. I don't want to see the union selling-out junior folks so they can negotiate better things for the top 10%. I have been a little worried about this because I've seen it happen at other airlines in the past.

I think we all know this isn't going to be an industry-leading contract, but we have to make a giant leap in contract language. There seems to be an alarming number of people, mostly captains, at this airline that tend to lean on the thought that "We're actually not paid that bad." This always blows me away. No offense, but I think this has something to do with a "I'm the richest guy in my small depressed country town and don't know any better" mentality or "Mommy and Daddy have always paid for everything. Including my job!" If some of you were allowed to fly for certain other regionals for just a week I think you'd be surprisingly blown away at the drastic change in compensation and work rules. Sure, there isn't a perfect place, but I've compared my W2 to friends flying the same equipment at other regionals and it's night and day compared to the hours I put in vs them. It's just plain embarrassing. We're being taken advantage of at this airline and there are just way too many folks that are completely comfortable with it.

It's one thing to jump on a 99% bandwagon to strike. It's another to make a real stand. Yes, the RLA in conjunction with 8 years of evangelical redneck bureaucracy has crippled our ability to move forward; however, I continue to see so many missed opportunities to fly safe and not unnecessarily bend over backwards so that our executives get their annual million dollar bonuses. It is not unethical or unmoral to simply do your job the way the FAA wants you to do it, but too many folks seem to fly as if they are brainwashed to ensure our executives get their unearned compensation. I am totally fine with executives making millions, but ours have been doing it (even in better times) at the expense of what should be their most valuable and respected resource. The employee.

I don't know what the answer is, but like I said before. I have a lot of doubts about this place ever being a good place to work. It simply doesn't have the foundation, business plan, or leadership to result in a good company culture.

Last edited by Noseeums; 03-17-2009 at 11:27 AM.
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