AMR seeks more time for reorganization plan

[Hatu]

DALLAS (AP) -- American Airlines parent AMR Corp. asked a federal bankruptcy judge Thursday for six more months during which only the company can propose a reorganization plan. AMR said it needs more time partly because it is still negotiating cost-cutting proposals with its unions.

An extension would give AMR management more time to build support among creditors while delaying rivals that might offer their own takeover proposals.

http://finance.yahoo.com/news/amr-seeks-more-time-reorganization-213614023.html

 

[limit]

No surprise there ,its was expected.

 

[700UW]

Perfectly normal.

 

[WorldTraveler]

While expected, AMR has not reached agreements on its fleet issues - almost 45 days after its deadline to complete that process... and AMR's recent proposals to rework its labor related cost cut proposals means they must adapt their business plan to the realities of higher and higher priced oil.

 

[TWU informer]

Why wouldn't the court just demand that ALL proposals be laid out on the table for creditors to see?

Why give one proposal advantage over another? Sounds unfair and criminal and the exact reason why corporations are willing to take the risk to rape their employees.

 

[700UW]

Cause the law doesnt work that way.

 

[TWU informer]

Cause the law doesnt work that way.

NSS (No SShit Sherlock)
Really! Man you are a regular rocket scientist are'nt you?

 

[700UW]

Why wouldn't the court just demand that ALL proposals be laid out on the table for creditors to see?

Why give one proposal advantage over another? Sounds unfair and criminal and the exact reason why corporations are willing to take the risk to rape their employees.

NSS (No SShit Sherlock)
Really! Man you are a regular rocket scientist are'nt you?

Then dont ask a question you dont like the answer too.

And your a bitter welder, arent you?

Dont you have more things to bash Bob and the No voters about?

Lets hear you whine and cry about the T/A that failed and the money you lost.

 

[tech2101]

Question for our Bankruptcy legal experts out there.

I thought the new laws passed after the last round of airline bankruptcies was intended on stopping this kind of thing.

Save me the time of researching it and give me the cliffs note version here.

Thanks.

 

[TWU informer]

Then dont ask a question you dont like the answer too.
And your a bitter welder, arent you?

Dont you have more things to bash Bob and the No voters about?
Lets hear you whine and cry about the T/A that failed and the money you lost.

Has the Supreme Court Ruled on this answer of yours?
Or is it another Stock Clerk wannabe legal expert answer?

By the Way I have some more bashing and Legal Information for you. Maybe you should try taking your legal road show and all your expert opinions further into the IAM and stop some of this BS. Spend more time focused on the IAM corruption and leave the AA issues to us.


International Association of Machinists (IAM)

West Virginia Machinists Local Secretary-Treasurer Sentenced
Thu, 02/23/2012 - 19:55

On December 9, Stephen Koski, former secretary-treasurer for Lodge 1027 of the International Association of Machinists, was sentenced in U.S. District Court for the Northern District of West Virginia to one year of probation and ordered to pay a $500 fine for embezzling funds from the Clarksburg, W.Va.-based union. He paid full restitution of $1,517.04 at sentencing. Koski had been charged in June and pleaded guilty in August. The actions follow a probe by the U.S. Labor Department's Office of Labor-Management Standards.

Machinists Local Secretary-Treasurer in Alabama Indicted
Fri, 01/20/2012 - 18:05

On November 1, David Daugette, former secretary-treasurer of International Association of Machinists Local Lodge 2766, was indicted in U.S. District Court for the Northern District of Alabama for embezzling $6,740.03 in funds from the Madison, Ala. union. Daugette, 48, a resident of Huntsville, allegedly stole the money during 2006-08. The charge follows a probe by the U.S. Labor Department's Office of Labor-Management Standards.

Machinists Secretary-Treasurer in Central California Pleads Guilty
Tue, 09/13/2011 - 14:19

Tracy Ford wasn't guileful enough. On Friday, September 2, Ford, former secretary-treasurer for International Association of Machinists Local Lodge 1528, pleaded guilty in U.S. District Court for the Eastern District of California to embezzling nearly $175,000 from the Modesto-based union and concealing her thefts by filing false financial data to the Labor Department. Ford, who was charged in February, reportedly has agreed to pay full restitution. She is scheduled for sentencing on January 20.

Nevada Machinists Local Secretary-Treasurer Sentenced for Embezzlement
Tue, 11/16/2010 - 16:56

On November 3, Hugo Vargas, former secretary-treasurer of International Association of Machinists Lodge 845, was sentenced in U.S. District Court for the District of Nevada to 13 months in prison and three months supervised release for embezzling $106,293.59 from the Las Vegas union. He had been charged last December and pleaded guilty in August. The sentencing and guilty plea follow an investigation by the Labor Department's Office of Labor-Management Standards.

Treasurer of Iowa Machinists Local Sentenced for Theft
Thu, 07/29/2010 - 17:20

On April 30, Stanley Teasley, formerly secretary-treasurer of International Association of Machinists Local 1426, was sentenced in the Woodbury County (Iowa) Court to ten years in prison for theft of $17,525 from the Sioux City union. The sentencing follows a probe by the U.S. Labor Department's Office of Labor-Management Standards.

Tennessee Machinists Local Office Manager Sentenced for Theft
Tue, 07/06/2010 - 12:58

On April 1, Linda Tickle, former office manager of International Association of Machinists Locals 56 and 1458 in Chattanooga, was sentenced in U.S. District Court for the Eastern District of Tennessee to five months imprisonment and three years probation for embezzling $40,048.72 in union funds. She also will have to make full restitution and pay a $200 special assessment. Tickle had pleaded guilty in March to two counts of embezzlement. The original two-count indictment of last August indicated the total theft to be $30,173.27. The actions follow an investigation by the U.S. Labor Department's Office of Labor-Management Standards.

Former St. Louis-Area Machinists Benefit Manager Sentenced
Mon, 11/09/2009 - 13:58

In the case of Harry Keil, there was more than met the eye. Keil, formerly the pension, health and welfare fund manager for International Association of Machinists and Aerospace Workers District 9, had been indicted this January on two counts of embezzling about $54,000 from a pair of union benefit plans. But his true take, as he had admitted at his plea hearing, was much higher. Keil was sentenced on Thursday, October 29 in U.S. District Court for the Eastern District of Missouri to 27 months in prison and was ordered to make restitution of about $341,000 to the insurance fund covering the Bridgeton, Mo.-based labor organization's losses.


NOT A LEGAL EXPERT HERE BUT THAT LOOKS RATHER PROBLEMATIC

 

[Buck]

Pretty impressive research. Can't wait for the rebuttal .....

 

[WorldTraveler]

Question for our Bankruptcy legal experts out there.

I thought the new laws passed after the last round of airline bankruptcies was intended on stopping this kind of thing.

Save me the time of researching it and give me the cliffs note version here.

Thanks.

in a nutshell, it decreases the amount of time the process can continue but AMR is still well inside the limits. Although it feels like the BK filing was a decade ago, it has only been a little over 3 months.

 

[cf6mech]

in a nutshell, it decreases the amount of time the process can continue but AMR is still well inside the limits. Although it feels like the BK filing was a decade ago, it has only been a little over 3 months.

The BK started for some of us in 2003.....but not for Top TWU officials and Exects......so Im good with a decade.

 

[700UW]

And your post has what to do with American Airlines asking the court to extend the exclusivity window?

Local lodge officials, not the whole union.

Enron
WorldComm
Adelphia Cable
Bernie Madoff
Tyco
Olmypus
ImClone

Corportate Scandals

Top Ten Business Scandals

TWU Corruption

TWU UFLP filed
Allegation Cases Filed
Duty of Fair Representation 60
Other Allegations 13
Actions of Picketers 4
Coercive Statements 3
Harassment 2
Discipline (including charges/fines) 2
Failure to Sign Agreement 2
Threatening Statements 2
Lawsuits 1
Violence/Assaults 1
Hiring Halls 1
Bad Faith/Surface Bargaining (Initial Contract) 1
Denial of Access 1
Refusal to Furnish Information 1
Union Security Related (including Beck) 1

December 4th, 2003 On December 4, 2003, in the United States District Court for the Eastern District of Pennsylvania, Percella Roper, former bookkeeper for Transport Workers (TWU) Local 234, was sentenced to six months home confinement and five years probation for embezzlement and aiding and abetting. She was ordered to pay restitution in the amount of $98,132 which will come from her union pension, including a $20,000 payment to be received by the court within five days of the sentencing. On June 10, 2003, Roper was indicted on one count of embezzlement and one count of aiding and abetting in the embezzlement. She pled guilty on September 4, 2003. The sentence follows an investigation by the OLMS Philadelphia District Office.

September 4th, 2003 On September 4, 2003, in the United States District Court for the Eastern District of Pennsylvania, Percella Roper, former bookkeeper of Transport Workers Local 234 pled guilty to an information charging her with one count of embezzlement and aiding and abetting in the embezzlement of $98,132.00 in union funds. The information stated that Roper (1) deposited $50,058 in union funds into a savings account that she kept at the TWU Credit Union, (2) converted $2,458 in union funds to pay union dues for herself and other union clerical employees, (3) assisted a TWU Local 234 officer in the embezzlement of $26,935 from Local 234 picnics, and (4) assisted the same officer in the embezzlement of $18,681 in cash receipts for sales of union clothing. Charges were filed on June 10, 2003, in the United States District Court for the Eastern District of Pennsylvania following a joint investigation by the FBI and the OLMS Philadelphia District Office.

June 10th, 2003 On June 10, 2003, in the United States District Court for the Eastern District of Pennsylvania, Percella Roper, former bookkeeper for Transport Workers Union (TWU) Local 234, was charged with embezzling $98,132 in union funds. The information alleges that Roper (1) deposited $50,058 of union funds into a savings account that she kept at the TWU Credit Union, (2) converted $2,458 of union funds to pay union dues for herself and other union clerical employees, (3) assisted a TWU Local 234 officer in the embezzlement of $26,935 from Local 234 picnics, and (4) assisted the same officer in the embezzlement of $18,681 in cash receipts for sales of union clothing. The charges were brought following a joint investigation by the FBI and the OLMS Philadelphia District Office.

 

[cf6mech]

.