UAL BK question
#11
Baron
As an ex-EAL (rEAL, not the phony Lorenzo one), I'm a bit confused by your logic. The ex-EAL pilot DID lose his job in a Chapter 7 bankruptcy after striking. The "lose your airline career" is a real threat, 4300 of us did. So when WG (if I guess correctly) said that it wasn't an empty threat. Not saying it was incorrect in hindsight.
GF
As an ex-EAL (rEAL, not the phony Lorenzo one), I'm a bit confused by your logic. The ex-EAL pilot DID lose his job in a Chapter 7 bankruptcy after striking. The "lose your airline career" is a real threat, 4300 of us did. So when WG (if I guess correctly) said that it wasn't an empty threat. Not saying it was incorrect in hindsight.
GF
My point, was that ALPA staff and MEC leadership used the full court press to sell the BK concessions to the MEC. It did not help that they dragged an ALPA paid, EAL survivor in front of an already frightened group of amateur union reps to argue the world would end and they all would be selling real estate. Chapter 7 was not on the table.
The reality was that had the UAL-MEC taken the management to the steps of the courthouse, the deal would have been better. In any case, had the MEC not sold out early, and the Judge had imposed the term sheet, management would have gotten all that they had wanted anyway. Therefore, why would anyone think the lack of a BK contract would have meant liquidation. Quite the opposite is the case. If the AMR pilot's reject their 6 year tentative (they won't) they get the term sheet until they exit. So, AMR's survival is guaranteed either way.
These recent bankruptcies are simply the new way of doing business, invented on Wall Street, not the maniacal effort of a Lorenzo. When labor wakes up to the fact that consolidation also means too big to fail, they will find the leverage to improve the profession, but not if they continue to allow management to subvert that power with two tier.
Baron
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