shorts are back in. This goofy mgmt is trying to posture for a bitter wage confrontation. They wasting money doing it and the union knows it. When you see the fat cat execs give up their millions then maybe some pilots may give up a little. Not me though...I`m` not giving up a cent. Bo out....going to the club to play gin today
Ch.11 seems to be a poor alternative to negotiations. 1.Company goes under bankruptcy protection - stock goes worthless, employee retirement funds take a hit(the matching portion of the 401K that goes worthless, a la Enron)
2. Certain percentage of pilots will be laid off in order to cut costs. Those laid off will have to search for jobs elswhere - and eventually accept a job offer that pays significantly less than their current one.
3.Creditors and lawyers will be all over the company, funds will be very tight, so in terms of RAISING salary in the forseeable future - forget it.
4.Portion of the assets will have to be liquidated to pay off the creditors, with that more jobs go out of the window.
It seems that pilots are taking a kamikaze dive by being stubborn here. If self-serving interests prevail, NOONE wins.