May 10, 2012
Dear Jim:
There have been a number of misstatements recently made on the various Internet blogs, YouTube videos and other collateral material produced by some of the TWU Locals about the Company’s March Term Sheets that are before the Court. They paint a very inaccurate picture of what will happen if the Company proposals are not ratified and the Court rejects the current collective bargaining agreements.
So there is no confusion about our intentions, let me reiterate the Company’s position. Any provision in the March term sheet that was dependent on a ratified consensual agreement will not be implemented without the ratification of the consensual agreement. We have made that very clear throughout the negotiations process since February 1.
For example, the following items are available only under a ratified consensual agreement:
- 1.5% wage increases
- Early Out Incentive Allowance
- Company prefunding refund
- 401(k) match up to 5.5%
- 1st dollar Profit Sharing Plan
- Gain Sharing proposal
If the proposals do not ratify and if the court permits rejection of the collective bargaining agreements, the Company has no plans to implement these “upside” provisions until it achieves a ratified consensual agreement.
If you should have any questions, please do not hesitate to call me at 817-967-1284. Sincerely,
Laura Einspanier
Vice President
Employee Relations