Originally Posted by sugden
Beaver Eager, if you think this is EXACTLY about WW getting a fat bonus at your expense your so far off beam it's not true. All the big public companies are closing and re-basing their pensions.
So because everyone else is doing it, that makes it OK does it? Sounds a bit like turning a blind eye to the exesses of the Nazis to me (OK, that's an extreme example and not strictly analagous but nevertheless... If people had been prepared to stand up and be counted maybe things would have turned out differently?).
[edit: for the avoidance of doubt, I am not suggesting that BA or anyone connected with it is behaving like Nazis, my use of this admittedly spurious analogy is simply to illustrate that we shouldn't accept something that is morally wrong just because it is the norm.]
Originally Posted by sugden
Human Factor, as I understand it, they can't afford to pay the pensions. That is what the deficit is all about; the assets in the fund will not meet the liabilities.
Sure, the fund is in deficit, nobody's arguing about that. What we are saying is that BA
can afford to fund that defecit and still grow, pay dividends and purchase new aircraft. I would have to surmise that you have hit your own nail on the head... You
don't understand it.
Originally Posted by sugden
I am strongly of the view that a BA collapse will have serious repercussions for BA pilots, Blah, Blah, Blah, etc.
BA will not collapse. WW and his chums are close to their 10% operating margin. Rumour is that we have hit the 8.5% margin for the year just ended and the T5 savings are yet to kick in. Even the board says that with a 10% margin our future will be secured. I am sure that WW will get a handsome personal bonus out of an 8.5% margin for last year... We are the most profitable airline in the world and the good times have only just begun to return. Do you think
they are going to spoil the goose that lays the golden eggs by cutting it open?
Originally Posted by sugden
Why do I care? I don't, really. I am not BA.
This is obvious by your lack of understanding of how things are inside BA.
Originally Posted by sugden
I do have sympathy for the situation you are in.
Thanks for that, at least.
Originally Posted by sugden
If you want to minimise your loses, however, the barricades approach ain't gonna work.
On that point we will have to disagree then. I believe it is only our obviously
extreme resolve that got the initial offering from BA to be
only this bad. Continued resolve will see continued improvements.
All the best to you though
sugden - nothing personal, BE.