Equity Update

[JustWondering]

So let me get this right , the company issued stock to us , as well all the other departments, they left it up to the TWU to distribute to us , then the retirees took the TWU to court because they felt entitled to some of that stock , so the TWU 14 % of that stock from each of us and cashed it out to battle the retirees . The case was then won months ago , and the cash fund grew to between 80-130 million dollars. Now the TWU is having a hard time letting go of that money , and their excuse is the difficulty of the process of distribution , so they went to a 3rd party who charges fees to distribute to handle this. Question number 1: Why didnt the TWU have attorneys on retainer to fight the retirees ? Isn’t that what a portion of my union dues should have went to after all these years ? Question number 2 : The TWU handles a lot of money , pretty sure they have accountants working for them already. Couldn’t they have put a team of their own financial people/ accountants together to distribute the funds ? Just wondering .

 

[JFK Fleet Service]

Oh the TWU is working on it alright...working on sticking it in sideways.

 

[enough already]

So, no update, I guess...

 

[AANOTOK]

It just came out

 

[Deleted member 14439]

The check is in the mail..............

 

[AANOTOK]

Highlights
IRS Will not tax it at 35%
Still late May/Early June
Computershare will mail a check
No mention of how much

 

[JFK Fleet Service]

Getting mushroomed by the TWU...what are the odds?

 

[TWU informer]

Here is your chance everyone.
Card drives are not free, it is not fair to ask the same players to fund another drive.
Someone set up a gofundme account to fund the card drive, and I ask that each person interested in changing the path of your profession, interested in separating from fleet service, have had enough industrial unionism to donate $150 of your equity stake payoff into the organizing fund. If you aren't willing to fund the drive for your profession then please stop complaining about our demise. I will personally donate double that amount and put $300 into account once it is setup.
Thank You in advance for your contribution.

 

[AANOTOK]

Here is your chance everyone.
Card drives are not free, it is not fair to ask the same players to fund another drive.
Someone set up a gofundme account to fund the card drive, and I ask that each person interested in changing the path of your profession, interested in separating from fleet service, have had enough industrial unionism to donate $150 of your equity stake payoff into the organizing fund. If you aren't willing to fund the drive for your profession then please stop complaining about our demise. I will personally donate double that amount and put $300 into account once it is setup.
Thank You in advance for your contribution.

As I said it many years ago, I’m all for you guys getting what you want, including a new union. But Informer, you haven’t been around for a while, a least not under this alias. We have had a few forums shut down lately because of a few posters getting off track. All I ask is take your “new” card drive request to the proper forum or start a new one. This is the “Equity” thread. Let’s not turn all threads into card drive threads PLEASE!

 

[bob@las-AA]

Here is your chance everyone.
Card drives are not free, it is not fair to ask the same players to fund another drive.
Someone set up a gofundme account to fund the card drive, and I ask that each person interested in changing the path of your profession, interested in separating from fleet service, have had enough industrial unionism to donate $150 of your equity stake payoff into the organizing fund. If you aren't willing to fund the drive for your profession then please stop complaining about our demise. I will personally donate double that amount and put $300 into account once it is setup.
Thank You in advance for your contribution.

Like I said before, getting a different union changes nothing, but the name it self.

 

[gulfcoast1]

Thank you to Gary Peterson for a well-written and thorough update.

 

[JustWondering]

The update would have been better if it said the actual amount that is in the fund , instead of everyone trying to guess . Or if the update would have given an example of how much someone would receive based on their seniority.

 

[CremaDiLimone]

i didn't even know the twu was appealing the capital gains taxes..

...the new long term rates can be 5%/15%/20%. short term rates are taxed as regular income. maybe the fund money escaped getting double taxed.

i take it the check will be taxed at regular income tax rates.

most peoples' expectations for the amount are low. mine are a bit higher. they are probably correct.

i agree...why keep a running total of the fund with nice colorful pie charts and yesterday's update had no figure.

 

[1AA]

i didn't even know the twu was appealing the capital gains taxes..

...the new long term rates can be 5%/15%/20%. short term rates are taxed as regular income. maybe the fund money escaped getting double taxed.

i take it the check will be taxed at regular income tax rates.

most peoples' expectations for the amount are low. mine are a bit higher. they are probably correct.

i agree...why keep a running total of the fund with nice colorful pie charts and yesterday's update had no figure.

And states like New York and California will be double taxed with a state tax deduction. I see dissapointed net total amounts on each individuals check.

 

[NYer]

$80 or $130, it does not matter if we do not know if the 14% made any returns.

Substantially closer to $80M than $130M.

It also made substantial gains since the starting point was a little less than $21M.