AA Tulsa Mechanic
Senior
- Jul 18, 2008
- 307
- 95
they are still there you just have to click on view my accountand I believe click on shares on the next screen I got 18 minus taxes of 7 and net result of 11.LOL1AA said:
2nd equity distribution
- Thread starter screwed again
- Start date
chris perry
Veteran
- Sep 17, 2008
- 544
- 118
19 shares one day 12 the next, magic trick!
MetalMover
Veteran
- Sep 16, 2013
- 3,543
- 2,410
They first posted the amount on the 8th...then on the 9th the account showed the net amount of shares after taxes.chris perry said:
But this time, there is no epays statement accompanying it. Interestingly enough as of the market close yesterday, the stock is up nearly $6 from the first distribution price.
The higher it goes the less shares we receive.
At the end of the day, we are not going to get the amount of shares we think we are getting.
BigMac
Veteran
http://twu514.org/blog/2014/01/10/aa-equity-distribution-letter-from-garry-drummond-january-10-2014/
Dear Brothers:
Some communications have been circulating among TWU members that have led some members to question whether they have received a correct allocation of shares as part of the post-bankruptcy equity distribution to date. However, the model that the communications questioning the distribution is based on incorrect information. The error in that model is that it assumes that the 4.8% of the shares to which TWU is entitled is 4.8% of all AAL shares. Actually, TWU is entitled to 4.8% of the AAL shares allocated for unsecured creditors only.
As was explained in the presentations made in June and July of 2013, there other creditors who have a right to participate in the distribution of AAL shares. The so-called old equity creditors also participate in the distribution and, as was also explained in the presentations, as the share price reaches certain price points, the old equity creditors have the right to access more of the shares included in the pool for unsecured creditors. As the share price reached those price points the number of shares allocated to unsecured creditors decreases, so the number of shares allocated to TWU (and all other unsecured creditors) decreased. But, of course, in that situation the value of the shares has increased.
Because the incorrect model that has circulated assumes that TWU is entitled to 4.8% of more shares that TWU is actually entitled to, that model predicts that members would receive more shares than they are actually entitled to. The incorrect model assumes a share price of $22.55 per share that will hold until Day 120 (it will not); the incorrect model then calculates TWUs total shares as 26.1 million and the total for M&R as 13.8 million. In reality the total TWU shares at a constant price of $22.55 would be 16.0 million which would result in 8.9 million shares for the M&R group.
We recognize that it is frustrating to be unable to know the exact number of shares that TWU will receive which makes it difficult at this time for members to confirm that the number of shares they have received to date is correct. But that is a result of the plan approved by the bankruptcy court. We will not know for sure
exactly how many shares TWU will receive until day 120, and as was explained in June and July, it is difficult to even project how many shares that will be since fluctuations in the share price will affect the total number of shares allocated to unsecured creditors.
Fraternally,
Garry Drummond Director Air Transport Division
Dear Brothers:
Some communications have been circulating among TWU members that have led some members to question whether they have received a correct allocation of shares as part of the post-bankruptcy equity distribution to date. However, the model that the communications questioning the distribution is based on incorrect information. The error in that model is that it assumes that the 4.8% of the shares to which TWU is entitled is 4.8% of all AAL shares. Actually, TWU is entitled to 4.8% of the AAL shares allocated for unsecured creditors only.
As was explained in the presentations made in June and July of 2013, there other creditors who have a right to participate in the distribution of AAL shares. The so-called old equity creditors also participate in the distribution and, as was also explained in the presentations, as the share price reaches certain price points, the old equity creditors have the right to access more of the shares included in the pool for unsecured creditors. As the share price reached those price points the number of shares allocated to unsecured creditors decreases, so the number of shares allocated to TWU (and all other unsecured creditors) decreased. But, of course, in that situation the value of the shares has increased.
Because the incorrect model that has circulated assumes that TWU is entitled to 4.8% of more shares that TWU is actually entitled to, that model predicts that members would receive more shares than they are actually entitled to. The incorrect model assumes a share price of $22.55 per share that will hold until Day 120 (it will not); the incorrect model then calculates TWUs total shares as 26.1 million and the total for M&R as 13.8 million. In reality the total TWU shares at a constant price of $22.55 would be 16.0 million which would result in 8.9 million shares for the M&R group.
We recognize that it is frustrating to be unable to know the exact number of shares that TWU will receive which makes it difficult at this time for members to confirm that the number of shares they have received to date is correct. But that is a result of the plan approved by the bankruptcy court. We will not know for sure
exactly how many shares TWU will receive until day 120, and as was explained in June and July, it is difficult to even project how many shares that will be since fluctuations in the share price will affect the total number of shares allocated to unsecured creditors.
Fraternally,
Garry Drummond Director Air Transport Division
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
So, let's beat this dead horse just a little bit more.
First round of equity shares distributed Dec.9th @ $22.55 (considered approx 52% of distribution)
Now, hypothetically, sold shares at closing @ $31.96. While stock rose $9.41, I did make money but at
the same time lost potential shares at next distribution.
Finally, the only thing that would be beneficial in this scenario would be after sell and profit, hope the stock
tanks and you regain shares that you lost while the stock was rising.
This is not even considering the new 5% the TWU is withholding from it's members....
First round of equity shares distributed Dec.9th @ $22.55 (considered approx 52% of distribution)
Now, hypothetically, sold shares at closing @ $31.96. While stock rose $9.41, I did make money but at
the same time lost potential shares at next distribution.
Finally, the only thing that would be beneficial in this scenario would be after sell and profit, hope the stock
tanks and you regain shares that you lost while the stock was rising.
This is not even considering the new 5% the TWU is withholding from it's members....
OP
screwed again
Member
- May 1, 2012
- 74
- 52
- Thread Starter
- Thread starter
- #24
That's right. Until we have all of our shares,equal to whatever value each person is to recieve, there is no money to be made. Higher it goes the less you get. Seems to me if it goes too high we will owe them shares back.
Screwed again (squared),
The value of the stock the we received is now worth about 89% of our original total. Boys and Gals, we definitley aren't getting much of anymore shares. Thanks to Jimmy Little and the TWU's great negotiating accomplishments. AAL Stock price is now $32.95 per share. We are "Doneski".
The value of the stock the we received is now worth about 89% of our original total. Boys and Gals, we definitley aren't getting much of anymore shares. Thanks to Jimmy Little and the TWU's great negotiating accomplishments. AAL Stock price is now $32.95 per share. We are "Doneski".
MetalMover
Veteran
- Sep 16, 2013
- 3,543
- 2,410
Oh, we are more than Doneski....The TWU will be taking another 5%, then another 5% if they lose the equity lawsuit.AANYER said:
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