I think some may be too busy to click the link. Lets post the article here.
Note: Delfamine sure ate pretty good over the years.
riday, April 17, 2009
Is Your ex-AMFA Leadership worth $500,000?
According to the 2008 LM-2 that AMFA filed with the Department of Labor, AMFA paid Director Olivio V. Delle-Femine $560,394. Wow!
This brings to mind a couple of questions.
What did Mr. Delle-Femine do to deserve five-times the average salary of an employed Mechanic?
At a recent Local 14 meeting it was explained that part of this compensation included an annuity to cover his retirement. What?! Over a half-million dollars for a retirement! At a time when mechanics are losing their pensions in bankruptcy, how the AMFA can justify spending this kind of money on a pension plan for an individual? The AMFA's membership is in steep decline, Northwest Airlines is gone, United Airlines is gone, and yet they feel the need to spend the hard earned dues money for a retired Director of the Association.
The annual dues for membership in the AMFA at Alaska are around $700. Coincidentally, if you took the dues paid by the members at Alaska Airlines for one year, it still wouldn't be enough to pay for the annuity. Since the AMFA's membership is declining, how can they justify this kind of expenditure?
Where in the AMFA constitution does it spell out this perk? How did this happen? But here is a bigger question…
Why aren't you guys pissed about this? The association is under attack and the leadership is spending money like it is going out of style.
Under the heading of Assets and Liabilities, the AMFA lists net assets of $734,022 at the beginning of the reporting period and a total of -$479,433 in net assets at the end of the reporting period. For those of you without a calculator, that's a loss of $1,213,455.
Again I ask, when you are losing this kind of money, how can you justify spending these exorbitant amounts?
The only explanation that I can come up with is that the AMFA leadership is out of touch with its membership.
This is another reason we need change. Change for the better. Change for a real future.