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UAL To Request Cancellation Of Union Contracts  
User currently offlineSking11 From United States of America, joined Sep 2004, 44 posts, RR: 0
Posted (10 years 1 month 2 weeks 17 hours ago) and read 3201 times:

Here's the link:
http://pacific.bizjournals.com/pacific/stories/2004/10/11/daily62.html?jst=b_ln_hl

United Airlines goes back to the well

Twenty-one months after entering receivership, United Airlines has told its bankruptcy judge that the labor cost cuts it won in 2003 are not enough to save the airline and it expects to file motions next month to cancel its union contracts.

The announcement shows that the nation's second largest airline, which flies more seats to Hawaii than any other carrier, has slid back in its climb out of Chapter 11, on a slope made slippery by soaring jet fuel costs.

Until now, some UAL Corp. unions had held out some hope of avoiding the termination of the company's pensions. But United executives told the bankruptcy court Friday that the savings it needs from terminating labor contracts are over and above savings it already counts on from terminating pension plans.


[Edited 2004-10-16 00:21:58]

10 replies: All unread, jump to last
 
User currently offlineFriendlySkies From United States of America, joined Aug 2004, 4120 posts, RR: 5
Reply 1, posted (10 years 1 month 2 weeks 17 hours ago) and read 3150 times:

Has this been cited in any other news papers or financial publications? I'm not sure I'd trust a newspaper from Hawaii to make such a claim (not that Hawaii is a bad place). The media would be all over this if it were true.

This may seem farfetched, but maybe UA is trying to get back at the unions for all the lawsuits? It's sad that the poor employees have to get stuck between management and unions. Neither the management or unions get affected by the union contracts, but the employees bear the brunt of it. Sad world we live in...


User currently offlineUA744Flagship From , joined Dec 1969, posts, RR:
Reply 2, posted (10 years 1 month 2 weeks 17 hours ago) and read 3131 times:

This is in the investment wires as well...

UAL intends to void union contracts mid-Nov.

Good luck to the Big U...


User currently offlineSdkualeb From United States of America, joined Mar 2004, 129 posts, RR: 0
Reply 3, posted (10 years 1 month 2 weeks 15 hours ago) and read 3015 times:

I hope that they also Void Jim Goodwins sweet deal he got. He s the dumb ass that screwed up the place. All the people who put there heart and soul into the company are the ones who get screwed the most. And they also clean house with all the Excess VPs at WHQ

User currently offlineKarlB737 From United States of America, joined Mar 2004, 3135 posts, RR: 10
Reply 4, posted (10 years 1 month 2 weeks 15 hours ago) and read 2976 times:

United To Seek More Cuts From Labor


http://biz.yahoo.com/ap/041015/united_airlines_2.html


User currently offlineFRA2DTW From Germany, joined Feb 2004, 322 posts, RR: 0
Reply 5, posted (10 years 1 month 2 weeks 14 hours ago) and read 2884 times:

Let's not blame it all on Goodwin. Capt. Stupidski had something to do with it also!

User currently offlineFriendlySkies From United States of America, joined Aug 2004, 4120 posts, RR: 5
Reply 6, posted (10 years 1 month 2 weeks 14 hours ago) and read 2861 times:

I hope that they also Void Jim Goodwins sweet deal he got. He s the dumb ass that screwed up the place. All the people who put there heart and soul into the company are the ones who get screwed the most. And they also clean house with all the Excess VPs at WHQ

Yes! I agree 100%!!!

UA is horribly heavy at the top. They have a freakin' VP for everything under the sun! And of course, they ALL got $200,000 bonuses last year...hmmm


User currently offlineJc5280 From United States of America, joined Oct 2001, 530 posts, RR: 4
Reply 7, posted (10 years 1 month 2 weeks 14 hours ago) and read 2815 times:

FriendlySkies...

Please back up your claim of $200,000 raises with a fact. In bankruptcy, salaries are public and on display. I have not seen anyone's salary go up nearly that much, if any.


User currently offlineSdkualeb From United States of America, joined Mar 2004, 129 posts, RR: 0
Reply 8, posted (10 years 1 month 2 weeks 14 hours ago) and read 2781 times:


they ALL got $200,000 bonuses


Last time i checked a bonuses is not a pay raise.


User currently offlineM404 From United States of America, joined Nov 2003, 2229 posts, RR: 5
Reply 9, posted (10 years 1 month 2 weeks 14 hours ago) and read 2748 times:
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OK. UAL void contracts. Didn't US also ask the court for permission to do the same thing. Now what position does that put all the other carriers who have contracts in? This is what was predicted from the beggining of this concession round, that all carriers would have to follow the losers just to stay alive. Now the courts will have to determine who's bankruptcy filing is real enough to warrent cessation. Gee. Do you think the current administration would allow such chicanery???? Gosh.


Less sarcasm and more thought equal better understanding
User currently offlineFriendlySkies From United States of America, joined Aug 2004, 4120 posts, RR: 5
Reply 10, posted (10 years 1 month 2 weeks 13 hours ago) and read 2641 times:

Please back up your claim of $200,000 raises with a fact. In bankruptcy, salaries are public and on display. I have not seen anyone's salary go up nearly that much, if any.

http://www.forbes.com/finance/mktguideapps/personinfo/FromMktGuideIdPersonTearsheet.jhtml?passedMktGuideId=432089

I was wrong. It's $226,000 for FY2003 (that would be last year). See the right side column for more VP salary & bonus info. Tilton didn't take a bonus. Only a few VP infos are shown, but all that are shown got at least a $212,000 bonus.

[Edited 2004-10-16 04:37:36]

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