Better than furlough?
I got the skinny on the proposed contract changes today from my Union. It doesn't seem too drastic, although I know a lot of flight attendants are going to scream. However, the terms make it VERY favorable for those who are of retirement age to retire NOW. The proposed changes will take effect May 1 if ratified by the membership. The biggest point: a 15.6% reduction in pay. For me, this equates to $5.23/hour less. The good news? I am scheduled for my annual raise on April 30. At that time, I'll receive five year pay, which is the largest single pay increase in our contract. That 15.6% will come from that new per hour rate. So, in the end, I'll only lose 75 cents from what I am making right now. It sucks, but better than how most will fare.
Also, I've heard anywhere from 2,400 to 5,000 (neither number is official) flight attendants will be furloughed. If the first number is true, I won't be furloughed. If the latter is true, I probably will be furloughed, but not sure. If I am, fine. I have other prospects which would work well for school and income. Either way, bring it on. There are numerous other changes to our extremely complicated contract that wouldn't make any sense to any of you. I am not sure even half of them make sense to me. No biggie, at any rate.
Why retire now? Our retirement plan goes like this: You are paid a monthly sum in retirement that is based on your salary from the best three of the last five years flying. It doesn't get any better than right now. If you wait to retire after May 1, you'll lose dearly on your retirement potential, unless you plan on staying around until 2014. Why? This proposed change is good until 2009, until which it would take you another five years to reap the benefits of any changes in 2009. And, whose to say those changes will be back to today's pay rates? Those teradactyls could be flying out in droves over the next month. We'll see.
Of course, all of this is a proposal and will go to membership vote in the next few days. I'll vote for it, since it is certainly better than anything a bankruptcy court judge would give. If this proposal fails, it will NOT be renegotiated. The company has made it very clear if any one of the three unions fail to ratify their proposal, the company will immediately seek bankruptcy protection. And so the turbine turns.
I, meantime, will be making a more assertive effort to secure more information about the options I have available pending furlough.
I got the skinny on the proposed contract changes today from my Union. It doesn't seem too drastic, although I know a lot of flight attendants are going to scream. However, the terms make it VERY favorable for those who are of retirement age to retire NOW. The proposed changes will take effect May 1 if ratified by the membership. The biggest point: a 15.6% reduction in pay. For me, this equates to $5.23/hour less. The good news? I am scheduled for my annual raise on April 30. At that time, I'll receive five year pay, which is the largest single pay increase in our contract. That 15.6% will come from that new per hour rate. So, in the end, I'll only lose 75 cents from what I am making right now. It sucks, but better than how most will fare.
Also, I've heard anywhere from 2,400 to 5,000 (neither number is official) flight attendants will be furloughed. If the first number is true, I won't be furloughed. If the latter is true, I probably will be furloughed, but not sure. If I am, fine. I have other prospects which would work well for school and income. Either way, bring it on. There are numerous other changes to our extremely complicated contract that wouldn't make any sense to any of you. I am not sure even half of them make sense to me. No biggie, at any rate.
Why retire now? Our retirement plan goes like this: You are paid a monthly sum in retirement that is based on your salary from the best three of the last five years flying. It doesn't get any better than right now. If you wait to retire after May 1, you'll lose dearly on your retirement potential, unless you plan on staying around until 2014. Why? This proposed change is good until 2009, until which it would take you another five years to reap the benefits of any changes in 2009. And, whose to say those changes will be back to today's pay rates? Those teradactyls could be flying out in droves over the next month. We'll see.
Of course, all of this is a proposal and will go to membership vote in the next few days. I'll vote for it, since it is certainly better than anything a bankruptcy court judge would give. If this proposal fails, it will NOT be renegotiated. The company has made it very clear if any one of the three unions fail to ratify their proposal, the company will immediately seek bankruptcy protection. And so the turbine turns.
I, meantime, will be making a more assertive effort to secure more information about the options I have available pending furlough.
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