Republic update
05-04-2012, 12:16 PM
#162
Gets Weekends Off
Joined APC: Feb 2011
Position: A-320 Asst. Pilot
Posts: 423
Any of you clowns take IBT up on the offer to "see for yourself" what Bedford did? Wasn't the ammended document provided as part of your blast this AM?
For those less motivated, I went ahead and took a peek myself. Here is what I found:
From the doc published today by IBT (Amendment No. 2 to Commercial Agreement)
Consider this: the Frontier pilot group has made an investment in Frontier Airlines that can be monetized somewhere in the ballpark of $850K/month benefit to RAH. In exchange, the Company is contractually bound to meet certain targets. They could not and requested relief. They got one extra month of relief to get their affairs in order so as not to be in breach of the contract. This relief cost them $100K in monetary compensation (should have been $850K if you ask me).
Oh yeah, anyone curious what C.5.a of the Commercial Agreement actually says? It required the Company to (at a minimum): (1) appoint a separate COO for Frontier, (2) have all FltOps positions report to this new COO and (3) appoint an independent Director of Labor Relations. All to be completed no later than December 31, 2011.
The Company did not meet the date and needed more time. HowTF is this a "bribe?" You guys are nuts. What would the IBT have done? Just give the Company relief for nothing in return? Go on strike? Nahhh, they probably would have simply refused under the guise that you "should never do anything to help the Company (or yourselves), especially when there is money in it for you."
Once again, I am so ****ing happy not to be a Teamster.
For those less motivated, I went ahead and took a peek myself. Here is what I found:
From the doc published today by IBT (Amendment No. 2 to Commercial Agreement)
NOW, THEREFORE, in consideration of the mutual premises contained herein and intended to be legally bound, the parties hereto hereby agree as follows:
1. The first sentence of Paragraph C.5 of the Commercial Agreement is hereby amended and restated in its entirety to read as follows:
"5. The following steps shall be taken no later than December 31, 2011 (except that the steps in Paragraph C.5.a shall be taken no later than January 31, 2012) so long as this Agreement is in effect:"
2. Concurrently with the execution and delivery of this Amendment No. 2, for and in full consideration of the amendment contained herein, Republic is delivering to FAPAInvest a check (or other form of payment acceptable to FAPAInvest) in the amount of $100,000.00, or shall transfer such sum to the account of FAPAInvest by wire transfer, the receipt of which FAPAInvest hereby acknowledges.
3. The Company and Republic hereby confirm that the steps specified in Paragraph C.5.b, Paragraph C.5.c and Paragraph C.5.d of the Commercial Agreement have been taken.
1. The first sentence of Paragraph C.5 of the Commercial Agreement is hereby amended and restated in its entirety to read as follows:
"5. The following steps shall be taken no later than December 31, 2011 (except that the steps in Paragraph C.5.a shall be taken no later than January 31, 2012) so long as this Agreement is in effect:"
2. Concurrently with the execution and delivery of this Amendment No. 2, for and in full consideration of the amendment contained herein, Republic is delivering to FAPAInvest a check (or other form of payment acceptable to FAPAInvest) in the amount of $100,000.00, or shall transfer such sum to the account of FAPAInvest by wire transfer, the receipt of which FAPAInvest hereby acknowledges.
3. The Company and Republic hereby confirm that the steps specified in Paragraph C.5.b, Paragraph C.5.c and Paragraph C.5.d of the Commercial Agreement have been taken.
Oh yeah, anyone curious what C.5.a of the Commercial Agreement actually says? It required the Company to (at a minimum): (1) appoint a separate COO for Frontier, (2) have all FltOps positions report to this new COO and (3) appoint an independent Director of Labor Relations. All to be completed no later than December 31, 2011.
The Company did not meet the date and needed more time. HowTF is this a "bribe?" You guys are nuts. What would the IBT have done? Just give the Company relief for nothing in return? Go on strike? Nahhh, they probably would have simply refused under the guise that you "should never do anything to help the Company (or yourselves), especially when there is money in it for you."
Once again, I am so ****ing happy not to be a Teamster.
Last edited by Mulva; 05-04-2012 at 12:29 PM.
05-04-2012, 12:28 PM
#163
Gets Weekends Off
Joined APC: Feb 2011
Position: A-320 Asst. Pilot
Posts: 423
The entire idiotic post that 3662forlife quoted.
Tell me Stinky, what would you have done. If you were an investor in a company, who provided contractual assurances to you in exchange for your investment, would you have provided relief to them without some form of compensation for your willingness to do so?
Better yet Stinky, I own a software company that provides a unique solution within a very lucrative industry. Only problem is I need a bit more capital so that I can push things over the hump and actually start making money with it. Any chance you and your fellow RAHbros would invest $1000.00 each to help me out? I'll promise that we will all be making good money by January 1st, 2013 and, if not, you can have your money back. I'll even sign a contract saying so.
Next January 1st, if we haven't made any money, you guys have the ability to pull the plug on the company and take your money back OR (if you feel so inclined) you can give me another month or so if you think it is worth it. If you were smart and thought the company was heading in the right direction, you might want to consider giving me that month in exchange for a few snaps for your trouble. That's just the way I think though.
Tell me Stinky, what would you have done. If you were an investor in a company, who provided contractual assurances to you in exchange for your investment, would you have provided relief to them without some form of compensation for your willingness to do so?
Better yet Stinky, I own a software company that provides a unique solution within a very lucrative industry. Only problem is I need a bit more capital so that I can push things over the hump and actually start making money with it. Any chance you and your fellow RAHbros would invest $1000.00 each to help me out? I'll promise that we will all be making good money by January 1st, 2013 and, if not, you can have your money back. I'll even sign a contract saying so.
Next January 1st, if we haven't made any money, you guys have the ability to pull the plug on the company and take your money back OR (if you feel so inclined) you can give me another month or so if you think it is worth it. If you were smart and thought the company was heading in the right direction, you might want to consider giving me that month in exchange for a few snaps for your trouble. That's just the way I think though.
05-04-2012, 12:59 PM
#164
Gets Weekends Off
Joined APC: Feb 2011
Position: A-320 Asst. Pilot
Posts: 423
BTW RAHbros. I found out where BB was hiding the smoking gun that he didn't want anyone to know about. At the SEC!
Check this out:
http://services.corporate-ir.net/SEC...EyMDMxNS5wZGY=
The link downloads a PDF (directly from the RJET website of all places) of the Company's recent 10K filing on March 15th. Check out what is hiding on page 121.
BB is freaking Brilliant! Where is a good place to hide something you don't want publicly disclosed? In the public domain. No one would ever think to look there, huh?
Check this out:
http://services.corporate-ir.net/SEC...EyMDMxNS5wZGY=
The link downloads a PDF (directly from the RJET website of all places) of the Company's recent 10K filing on March 15th. Check out what is hiding on page 121.
BB is freaking Brilliant! Where is a good place to hide something you don't want publicly disclosed? In the public domain. No one would ever think to look there, huh?
05-04-2012, 12:59 PM
#165
Gets Weekends Off
Joined APC: Aug 2010
Posts: 339
I cant wait to see your response to what the courts decide down the road...
05-04-2012, 01:02 PM
#166
Gets Weekends Off
Joined APC: Jun 2008
Posts: 227
The entire idiotic post that 3662forlife quoted.
Tell me Stinky, what would you have done. If you were an investor in a company, who provided contractual assurances to you in exchange for your investment, would you have provided relief to them without some form of compensation for your willingness to do so?
Better yet Stinky, I own a software company that provides a unique solution within a very lucrative industry. Only problem is I need a bit more capital so that I can push things over the hump and actually start making money with it. Any chance you and your fellow RAHbros would invest $1000.00 each to help me out? I'll promise that we will all be making good money by January 1st, 2013 and, if not, you can have your money back. I'll even sign a contract saying so.
Next January 1st, if we haven't made any money, you guys have the ability to pull the plug on the company and take your money back OR (if you feel so inclined) you can give me another month or so if you think it is worth it. If you were smart and thought the company was heading in the right direction, you might want to consider giving me that month in exchange for a few snaps for your trouble. That's just the way I think though.
Tell me Stinky, what would you have done. If you were an investor in a company, who provided contractual assurances to you in exchange for your investment, would you have provided relief to them without some form of compensation for your willingness to do so?
Better yet Stinky, I own a software company that provides a unique solution within a very lucrative industry. Only problem is I need a bit more capital so that I can push things over the hump and actually start making money with it. Any chance you and your fellow RAHbros would invest $1000.00 each to help me out? I'll promise that we will all be making good money by January 1st, 2013 and, if not, you can have your money back. I'll even sign a contract saying so.
Next January 1st, if we haven't made any money, you guys have the ability to pull the plug on the company and take your money back OR (if you feel so inclined) you can give me another month or so if you think it is worth it. If you were smart and thought the company was heading in the right direction, you might want to consider giving me that month in exchange for a few snaps for your trouble. That's just the way I think though.
05-04-2012, 01:13 PM
#167
Gets Weekends Off
Joined APC: Feb 2011
Position: A-320 Asst. Pilot
Posts: 423
*******, I can stop myself.
I've heard the following incorrect assumptions from some of the RAHbros:
(1) Frontier pilots pay money to FAPAInvest LLC
(2) FAPAInvest LLC members (there are 3 of them actually) can "run off" with the Frontier pilot's and RAH's money.
WRONG
Frontier pilot's have not paid a single penny to FAPAInvest.
FAPAInvest is not in the business of touching money.
FAPAInvest determines how the Company is to distribute profit sharing and equity.
The Company (when there is money to be paid) will write the checks directly to the individual Frontier pilots.
These are all FACTS. How hard is all of this to understand?
I've heard the following incorrect assumptions from some of the RAHbros:
(1) Frontier pilots pay money to FAPAInvest LLC
(2) FAPAInvest LLC members (there are 3 of them actually) can "run off" with the Frontier pilot's and RAH's money.
WRONG
Frontier pilot's have not paid a single penny to FAPAInvest.
FAPAInvest is not in the business of touching money.
FAPAInvest determines how the Company is to distribute profit sharing and equity.
The Company (when there is money to be paid) will write the checks directly to the individual Frontier pilots.
These are all FACTS. How hard is all of this to understand?
05-04-2012, 01:22 PM
#169
Gets Weekends Off
Joined APC: Apr 2012
Position: FO
Posts: 101
From my board.........
"(e.g., the Teamsters Union suggests that FAPA’s Secretary-Treasurer was unlawfully promoted by Frontier in exchange for collective bargaining concessions)"
and
"was he promoted to their Chief Pilot? "
and
"100k has to be just the beginning. There's also the new job he was elevated to which probably has some nice incentives and who knows what else will pop up if they come out with the documents."
My sourses tell me:
FAPA's Sec/Tres didnt go anywhere.
Sec/Tres cant negotate concessions.
FAPA has had the same Chief pilot for many years, b4 the SLI even.
If a FAPA Board pilot was qualafied and hired as in Management, how would that be unlawful? Their couldn't be a "promotion" as he was a pilot didn't work in Management previously. Wouldnt it be nice if we got a union pilot into some of our management pos? Wouldnt they understand the problems the union and pilots put up with eveyday?
"nice incentives" thats part of the deal if you go management everywhere. if you want "nice incentives" go back to school and get your MBA and start at the bottom. isnt that what we tell FAs that say they wish they made what us captains and 3662er's make?
"(e.g., the Teamsters Union suggests that FAPA’s Secretary-Treasurer was unlawfully promoted by Frontier in exchange for collective bargaining concessions)"
and
"was he promoted to their Chief Pilot? "
and
"100k has to be just the beginning. There's also the new job he was elevated to which probably has some nice incentives and who knows what else will pop up if they come out with the documents."
My sourses tell me:
FAPA's Sec/Tres didnt go anywhere.
Sec/Tres cant negotate concessions.
FAPA has had the same Chief pilot for many years, b4 the SLI even.
If a FAPA Board pilot was qualafied and hired as in Management, how would that be unlawful? Their couldn't be a "promotion" as he was a pilot didn't work in Management previously. Wouldnt it be nice if we got a union pilot into some of our management pos? Wouldnt they understand the problems the union and pilots put up with eveyday?
"nice incentives" thats part of the deal if you go management everywhere. if you want "nice incentives" go back to school and get your MBA and start at the bottom. isnt that what we tell FAs that say they wish they made what us captains and 3662er's make?
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