American Airlines Files Bankruptcy.

[ZQuickSilverZ]

AMR just filed bankruptcy. Guess I am out of a job now with only 10 years in the company. I noticed they announced the CEO "retired" on the same day they reported the bankruptcy. Some think they did this to get further concessions from the workers. Others think it was in preparation for a merger with US Air. Personally, I think it is just another example of corporate greed (and strategic bankruptcies which our government supposedly passed laws to make more difficult, guess it did not work). I mean honestly, we (the front line workers) make less now than in 2001 while our new CEO got a 40 percent raise just last year (despite the fact we supposedly lost hundereds of millions of dollars). Let's see how many hundereds of millions of dollars management gets in bonuses (you know, like the ones they got in the past eight years for thier great performance:megalol:) six months from now. Apparantly, it is always the workers fault.

 

This golden parachute business really has got to stop.

 

"Off with his job" indeed.

Edited November 30, 2011 by ZQuickSilverZ

[diveplane]

i posted this as well up in aviation news section of forums, its sad indeed.

[Steel Jaw]

its sad indeed.

 

Morally criminal is what it is.

[leafer]

With your experience, Z, I'm sure you'll waltz right in to a new job in no time.

[ZQuickSilverZ]

I guess I will find out what AMR's plans are tomorrow.

 

I expect:

Maintenance to be sent overseas (Why even have an FAA with almost all U.S. maintenance being done overseas)

Loss of pension (But nice bonuses for our CEO's)

Loss in pay (Our new CEO got a 40 percent raise last year I have not since 2001)

Much higher insurance cost

Massive layoffs

Union dues to stay the same

 

They can't afford to pay us but but:

Are making the largest aircraft purchase in history

Found 8 mansions owned by the company being used by execs for personal use (one estimated at 30 million dollars)

Have done little to curb their bloated management

Hired hundreds of employees within 6 months of filing

Edited February 1, 2012 by ZQuickSilverZ

[4c Hajduk Veljko]

With your experience, Z, I'm sure you'll waltz right in to a new job in no time.

Well, finding a job is not a problem. The problem is to find a job that will include health insurance and pension plan. Right now many companies do not have pension plans any more. A lots of companies do not include health insurance. BTW, when you loose a job, you loose your income to pay for your mortgage, for your health insurance, for your car payment, a car you must have to be able to go to work ... Let alone, your children's filed trip, your wife's and yours annual check up, your children's university loan ...

 

And why was that job lost? See above posts for details ...

[Pilotasso]

I feel your Pain Silver. Spent 3 years on temporary contracts and carried with them a constant fear of sudden unemployment. Now the goverment passed a law to allow up to 4 years on temporary contratcs to lower the unemployment figures artificially (so far it failed to achieve this). Fortunatly I signed permanent contract before the law was aproved.

 

About the Salary, I feel that too. Im too ashamed to give details, but with the disapearence of the middle class over here, Im afraid I would have to go back further into the past to find salaries like mine.

 

Im work at Depot level for aicraft engines overhauls, and structures too.

Edited February 1, 2012 by Pilotasso

[ZQuickSilverZ]

Expected Employee Reductions

 

Fleet Service & Other TWU – Approximately 4,200 (this is my group)

Flight Attendants – Approximately 2,300

Management/Support Staff – Approximately 1,400

Mechanics and Related – Approximately 4,600

Pilots – Approximately 400

Total – Approximately 13,000

 

Termination of all retiree insurance benefits

Increased medical care coverage

Closing down Alliance maintenance facility (About 1,200 workers)

Termination of all 4 pension plans

Outsourcing of maintenance and ground worker jobs

 

Quote from Jeff Brundage (SVP Human Resources American Airlines)

"We believe there is a real opportunity for American’s employees to benefit when we emerge a stronger, more competitive company."

 

Benefit..... with loss of pay, pension, retiree medical (that we pay into by the way), rising insurance cost, and jobs? How will that benefit me (a front line worker)?

 

Funny how the only way a business can be "competitive" these days is by lowering their workers standard of living while rewarding incompetent leadership with outrageous bonuses (not pay... bonuses). This ladies and gentlemen is your class warfare. 99%.

Edited February 1, 2012 by ZQuickSilverZ

[ZQuickSilverZ]

Temp services have done no service to the working man. They are just a convieent way for a company to get labor for dirt cheap. By the way, if the job ends good luck on getting your unemployment because according to the temp service you don't qualify because technically your still employed your just "between assignments". i wish you luck.

[Pilotasso]

Well, finding a job is not a problem. The problem is to find a job that will include health insurance and pension plan. Right now many companies do not have pension plans any more. A lots of companies do not include health insurance. BTW, when you loose a job, you loose your income to pay for your mortgage, for your health insurance, for your car payment, a car you must have to be able to go to work ... Let alone, your children's filed trip, your wife's and yours annual check up, your children's university loan ...

 

And why was that job lost? See above posts for details ...

 

About the university, you can go around heavy loans by sending your kids to a country with lower education costs and have them return with an equivalent degree you like. In my Country you pay only a 1000€/year, and theres great campuses in the area of mechanical Engineering (and likes), Chemistry and health, both of the later having one of the largest and modern R&D campuses in the world, and in some cases students are subsidized by the state or talent hunters. Theres alot of foreigners studying here.

Edited February 1, 2012 by Pilotasso

[leafer]

He signed a permanent contract so I think he can breathe a little easier now. Goodluck to all of you. The way things are now, I don't feel so bad living in a third world country.

[ZQuickSilverZ]

USA does not always honor degrees earned in other countries because the schools are not accredited by the USA government.

[4c Hajduk Veljko]

About the university, you can go around heavy loans by sending your kids to a country with lower education costs and have them return with an equivalent degree you like. In my Country you pay only a 1000€/year, and theres great campuses in the area of mechanical Engineering (and likes), Chemistry and health, both of the later having one of the largest and modern R&D campuses in the world, and in some cases students are subsidized by the state or talent hunters. Theres alot of foreigners studying here.

I hear you. However, without a job, savings that you collected while having a job will be spent on food, lodging and health insurance, not on university education.

 

Do you know how much Cobra is? Anywhere from few hundred dollars to 1500 dollars per month. Let me take 1000 as an average ... that ends up to be $12 000 US dollars a year. Just to have a health insurance for a four member family ...

[ZQuickSilverZ]

Choir

[AlphaOneSix]

USA does not always honor degrees earned in other countries because the schools are not accredited by the USA government.

 

Sorry for the derail, but I should mention that the U.S. government does not accredit educational institutions and/or programs. Apologies for the OT.

 

I remember seeing the big AA hangars at Alliance when I was there for Bell Helicopter training. I would not be surprised if, a few years from now, things are "back to normal", except of course the lost benefits will never come back....they never do.

[ZQuickSilverZ]

I used to work with a person that had an electrical engineering degree from another country. However his degree was no good in the USA so the best he could do was working a commercial electrician job. He had to test for a journeyman's license. Most school's are accredited by the state you live in. If they are not then most likely the paper you get for graduating is about worthless.

[ZQuickSilverZ]

I was thinking of what new career choices I have. I am too ugly to be a gigolo. I was thinking an of exciting career in aluminum can collecting or robbing people (the benefits suck but the pay is good). Are there any car companies out there looking for a crash test dummy? I could be a ballistics dummy. Are there any companies out there looking to test products on humans?

 

Honestly I would like to get into I.T. but I don't know where to start.

 

By the way I just got the news they want to contract out my shop AND my wifes. So we are both going to be unemployed.

Edited February 2, 2012 by ZQuickSilverZ

[ZQuickSilverZ]

I thought I would give an update. I did in fact get into IT. I got my CCNA and now work for a telecom company configuring routers and switches. I have accomplished in 1.5 years what it took me 10 to accomplish at American Airlines. My wife's job was contracted out but they offered her a new position.

 

I am doing pretty well these days.

[cichlidfan]

I thought I would give an update. I did in fact get into IT. I got my CCNA and now work for a telecom company configuring routers and switches. I have accomplished in 1.5 years what it took me 10 to accomplish at American Airlines. My wife's job was contracted out but they offered her a new position.

 

I am doing pretty well these days.

 

Glad things are working out. :thumbup:

[Milli]

Nice update. Best of luck.