2010 APFA Form LM-2
- Thread starter Veritas
- Start date
floatingon9
Member
- Joined
- Mar 10, 2010
- Messages
- 39
- Reaction score
- 1
jimntx
Veteran
Some of the things that stood out to me...
1. Cash on hand increased by $900,514 during the year to end at $10,324,001. Yet,
2. Total interest earned in an entire year--$185?????????
3. Not one dime of the cash was in any sort of investment--short or long-term?????? Is it just stacked in bundles in the back closet?
4. With over 15,000 flight attendants active/inactive, there is not one single one that is in arrears on dues? I find that amazing considering how they used to harp constantly about unpaid dues and threats of legal action--usually against some single mother f/a who was already flying 120 hours/month to keep a roof over the head of her children.
5. It is some corporation/organization that doesn't have one thin dime in accounts receivable. That collection agency that was paid $6000+ last year really earned their money.
6. I noticed at least one instance of a base vice-chair being paid more than a base chair. Is that "normal?"
I question the stewardship of union assets if $10 million can only produce $185 in side income. Ahm a pore boy and my money earned more than that last year.
1. Cash on hand increased by $900,514 during the year to end at $10,324,001. Yet,
2. Total interest earned in an entire year--$185?????????
3. Not one dime of the cash was in any sort of investment--short or long-term?????? Is it just stacked in bundles in the back closet?
4. With over 15,000 flight attendants active/inactive, there is not one single one that is in arrears on dues? I find that amazing considering how they used to harp constantly about unpaid dues and threats of legal action--usually against some single mother f/a who was already flying 120 hours/month to keep a roof over the head of her children.
5. It is some corporation/organization that doesn't have one thin dime in accounts receivable. That collection agency that was paid $6000+ last year really earned their money.
6. I noticed at least one instance of a base vice-chair being paid more than a base chair. Is that "normal?"
I question the stewardship of union assets if $10 million can only produce $185 in side income. Ahm a pore boy and my money earned more than that last year.
floatingon9
Member
- Joined
- Mar 10, 2010
- Messages
- 39
- Reaction score
- 1
Not to mention, the LGA Chair is one of the highest paid chairs system wide and he is on furlough!!! He is worthless.
(Post edited by moderator to remove TWA reference.)
Despite having only $185 in interest listed, the report shows almost $908,000 of dividend income. My guess is that the cash balance is parked in some money-market-like fund, probably administered by a ponzi-scheme operator based on the nearly 10% return on the cash balance. Didn't the former Treasurer resign a few months back?
galleyguy4u2
Senior
- Joined
- Aug 9, 2003
- Messages
- 313
- Reaction score
- 2
jimntx
Veteran
Thanks, I missed the dividend income. That thang ain't that easy to read. However, I don't have a dime that is sitting in a totally unproductive place. My checking account doesn't draw much interest, but it draws interest. I move money to the checking account a day or two before it is needed from other, more productive, accounts. The union should be at least as good a steward of its (my) money.
