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Northwest Flight Attendants Get Some Relief |
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Flight attendants working at Northwest Airlines today received about $14,500 each, giving them some financial relief after they gave up nearly $200 million in annual concessions as part of Northwest Airlines’ reorganization and exit from bankruptcy. More than half of each check goes to a 401(k) contribution.
The members of the Flight Attendants-CWA received the checks from the proceeds of a $182 million equity claim negotiated by the union during the company’s bankruptcy.
Kelvin Griffin, AFA-CWA president at Northwest, says:
Today, our flight attendants received some much needed cash and 401(k) contributions. This by no means makes up for the fact that we are still working under 40 percent wage and benefit cuts, but it is a bit of good news for flight attendants who have had a very rough year.
A group of buyers led by JP Morgan Chase Bank bought the Northwest flight attendants’ equity claim for about 64.75 cents on the dollar. Each flight attendant received about $14,500 before taxes, with 40 percent in cash and 60 percent as a 401(k) contribution. However, the $14,500 pales in comparison to the nearly $1 million each Northwest executives received.
While the executives were banking their millions, the bankruptcy judge gave Northwest management permission to throw out more than 50 years of collective bargaining and imposed wage and benefit cuts on the flight attendants. This resulted in a 20 percent increase in work hours and a 40 percent reduction to pay and benefits.
2 Comments
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No wonder some of the flight attendents seem uninthused while waiting on passengers. Good pay causes good relations with the public and happy employees.
Northwest Parody Song
Music from Neil Sedka and from Anne Feeney’s parodies Computer down, and United Airlines.
The parody turned in to a Zipper song where all you have to do is add the names of the Management
Down dooby do down down, we can shut ya down dooby do down down
We can shut ya down dooby do down down
Shut ya down is what we’ll do……
Not long ago we flew those northwest skies
Morale was high - Our stock was on the rise
Now you’re giving us the royal screw
And shut ya down is what we’ll do
You say our wages are to blame
Steenland should hang his head in shame
Martha Stewart did nothing compared to you
And shut ya down is what we’ll do
Our future is in chaos - We’ve given so much
Those guys on top are way out of touch
Insider trading! What gives you the right????
Douglas Steenland how do you sleep at night!
The AFA is gonna have its say
The CHAOS game is one that two can play
Northwest workers deserve more from you
And shut ya down is what we’ll do
Well first we tried your ESOP - We gave back our pay
Now you take our pensions away!
Your plans are destined to fail
Northwest workers need a raise, and, Steenland you belong in jail!
The day will come, just wait and see
What we can do in solidarity
Northwest workers deserve more from you
And shut you down is what we’ll do
Dooby do down down; we can shut ya down dooby do down down
We can shut ya down dooby do down down, and shut ya down is
what we’ll do!