Announcement coming??????

[baloo]

apparently there is rumbling in the oh so precise rumor
network :tongue_2: that there is going to be a major announcment
in the next few days....anyone heard of anything??

[Was_Moeman]

Not me. Maybe something to do with the annual results? What have you heard?

[JetBoy76]

Oh no!
I hope is not the Bankruptcy thing :frown_2:
There are so many rumours going on, who knows anymore, maybe Robert Milton is taking a 15% pay cut?
HAPPY FLYING :windsock:

[baloo]

Robert take a 15% cut...Jetboy give your head a shake you are being delusional again! :grin:

[JetBoy76]

I just realized the Bottle of Gin is empty :frown_2:It was the Gin talking :blush:
Well, let'sjust wait and se what this Great Annoucement is :smirk:
HAPPY AND SAFE FLYING :windsock:

[Fly_Boy_YUL]

Can anyone be surprised at whatever announcement is made?

Think about it. We are broke, and in debt for almost $13 Billion. We have few assets to sell to get more money, and that is a dead end route anyway.

We will be asked to give up wages, increase production or both. We have already cut back pretty far on what we serve on board, so do not go looking to save much there. The pilot group was alreadt approached. They reserved a decision to after they (someone they hired) had a chance to look at AC's books. AC actually agreed!

My sources tell me that AC is looking at reducing itself by up to 4200 jobs. 1600 may be from management. Even then, salary reductions will also be imposed, anywhere from 15 - 30%.

We have around 25 V.P.'s... that is almost 1 per 1400 "regular" employees. In Flight has almost 100 management (these are "Manager positios) that is 1 per 80 F/As... have you seen one around lately?

We are a "fat" company. A diet is painful when you are used to eating sweets. We need to determine what we are and what we do. That determines the number and kind of people we need.

What choices do we have? Bankruptcy is always a possibility... even the "Mighty" American Airlines is teetering on the edge. This is after moneys given to them (and the other US carriers) after Sept 11.

We are in trouble, the issue is how to get out of it.

Do we take pay cuts? I would, but as part of a combined effort from all employees. Let's also make it a "relative" cut. 15% for Milton (as an example) is peanuts compared to some poor clerk or jr F/A making $20,000. Those at the top should accept more of a pinch than others. AND if there is cutting, do not pay it back with stock or other hidden costs that amount to almost the same thing.

Years ago pay cuts were announced too. Hollis took (I think) 10%, all management took 5% and the unions contributed either the same in $$ or other ways. In-Flight gave up training pay for 4 training days that year.

I am not trying to get anyone depreessed. I want AC to survive and grow. This "dip" in the industry is more of a canyon, and we better survive the drop and be able to get back up the other side.

I think that our leadership needs to do some serious head scratching... about where we are to go and how we got there. Those who have not been able to cut the mustard should be out.

My job is dependant on the number of aircraft we fly and the number of crew on them. Black and white. If AC reduces the number of aircraft, or decides to change service levels, then the number of crew changes.

We can survive, but we need to be smart. We can stick to our guns, but what good is that when the ship is sinking. Forget the guns and MAN THE PUMPS!

[Disarm]

Suggestion....the 747's are to be "parked"; unions requested to make concessions; bankruptcy filing in or about June.

[baloo]

although you have very good points flyboy YUL I am just going to say this. I am not willing to give them a dime until they clean up their act. The amount of waste that I see on a daily basis makes me cringe. I am sure there are hundreds of examples across the system where the company could save itself millions. Prime example is them mailing our paystubs to us. What is up with that. I thought it was a good sign of things to come when they stopped sending horizons by mail but it just seemed to stop there. Also what about those personal letters that are addressed to each and every employee from Robert or Captain....I don't remember his name....all that paper and envelopes what a waste! put it in the computer and post a few copies for people who don't have access to a computer. So I just say to Robert don't waste my time until you cut all the other extra nonessential spending.

[Flying_None]

I agree with Baloo about the incredible waste that goes on in this company. Sometimes I get stuff in my mailfolder twice, plus so much "junk-mail" that could be posted on a "bulletin board" for all to read when they get to the comm centre. The waste doesn't end there. On board there is often too much boarded of perishables that will be thrown out at the end of a flight. Most times if they boarded half the amount they do now we would still have enough for the flight. Anyway, I am very afraid for my job and don't expect to be working much longer. Hopefully through leaves, mini-blocks etc some lay-offs can be averted but I'm not optimistic.

I expect this 'announcement' will be made after the union has had their Feb. 6th meeting with the company.

[out.of.the.blue]

Do you think they'd have to pay the "loyalty bonus" if they declared bankruptcy protection :grin:

One thing that we do get to keep for sure is the 19:30 duty day and ZIP.

I'd say bankruptcy protection is probably considered a "force majeure".... so much for the great "no lay off clause". Thank gawd I have at least 3600 fa's under me.

It was also brought up at the YUL roadshow that the extra 800$/month for 5 years was coming out of "general revenues" and would NOT be protected if anything were to happen to the company. Ummm, maybe so much for that gain also?

I'm not saying that any of these will happen... but it just goes to show how great of a contract you actually have if they do decide to seek protection.

Ah well que sera, sera.

I bet you anything that the 19 139$ will be paid out PRONTO ! :grin: Wouldn't want to see poor Leo or Dick without their hard earned cash LOL

[JetBoy76]

Is a good thing we have a no lay-off clause, but let's be realistic, if people are not flying, if this thing with Iraq, North Korea, and the crisis in Venezuela escalate, the company will not keep everyone just collecting money(where would the money come from? No passangers, high fuel prices, and give another $500.000 Bonus to Mr. Milton)
I have spoken with a few of my friends in NYC(UAL and AA)and things are bad everyhwere.
I do fear for my job, but again this is the kind of Industry that changes so rapidly.
Let's all hope for the Best[fingers crossed]
HAPPY AND SAFE FLYING TO YOU ALL :windsock: