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Archive for December, 2009
Pole
Posted in Uncategorized on December 19, 2009|
Why retiring older is a bad idea
Posted in Retirement and Pensions on December 19, 2009| 1 Comment »
Profits – schmofits
Posted in Retirement and Pensions, Show me the money on December 18, 2009| 1 Comment »
Over the past 5 years the IAA has reported huge annual profits.
In recent times the IAA has never recorded less than 12M annual after tax profit totalling over the last five reports to be no less than 66.5M.
There is reportedly a crisis with the pension fund. Why? In 2007 the total reported net liabilities of the pension fund were just over 56M.
The company recently published that the pension fund is some 248M in debt. 200M extra in debt in 2 years, whilst still running a profit, is this an accounting trick? Who is to blame, are they still employed? There should be a national enquiry to find out who is responsible. She/Him/they and their management team should all be sacked if it’s true that they squandered 200M in just 2 years; surely the buck stops with the CEO?
CEO – he should go, come on sing with me now, CEO – he should go!
Why Blog?
Posted in Uncategorized on December 17, 2009| 2 Comments »
I will be providing regular feedback during the dispute between IMPACT representing the ATCs and the Irish Aviation Authority (IAA).
Feel free at anytime to drop me an email or post a comment on any post I make.
Needless to say that I am very aggrieved that it has come to this:
The IAA have unilaterally taken it upon themselves to effectively rob ATCs and other employees of their hard fought conditions of employment, entitlements and salaries, whilst a valid agreement is in place without any attempt to negotiate with staff , or explain why they are doing this.
To blame the current economic conditions is at best delusional, to deliberately un-fund liabilities or increase them when cash flows were low was at best foolish. Why should the employees have to pay for gross miss-management? Why should these temporary funding issues have a 60+ year life-cycle?
Why can’t the IAA wait until the agreement is next negotiated to attempt to change our employment conditions, why is it so urgent now, when in essence the short term savings are negligible, but they have a massive long term effect on the employees without generating one cent of savings for the industry it serves or the community? It can be argued that this has a significant negative flow on the community at large.
Why is the IAA doing this? The 64M$$$ question.
2010 Irish ATC dispute - get the facts 