Equity Update

[NYer]

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 .

1. The Equity came about a part of being a Creditor in a BK that covered a specific group within the TWU. There would be legal issues if dues were used to cover the expenses of that process and lawsuit. The lawyers and advisors strongly recommended for the Equity to be self-sustaining.

2. The TWU doesn't have our payroll information therefore they would need to collect all that information and hire an outside payroll company to make the distribution plus pay all taxes due on an employer when the funds are distributed under a W-2.

 

[CremaDiLimone]

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.

i guess the whole thing is that the fund, as a whole, got a break from the feds.

 

[Vortilon]

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

Can't tell you how many times I have heard that old chestnut. A huge part of the problem, is because this union/association (plain and simple) represents too many different groups. Then when they are all negotiated together, things never turn out good for AMTs. No matter how you look at it - over each contract, AMTs have come out chumpted. The one exception would be the AMFA inspired contract of 2001. Not unlike the Flight Attendants, now even the Flight Dispatchers have left the TWU. AMTs should vote in new representation as well.

 

[Vortilon]

1. The Equity came about a part of being a Creditor in a BK that covered a specific group within the TWU. There would be legal issues if dues were used to cover the expenses of that process and lawsuit. The lawyers and advisors strongly recommended for the Equity to be self-sustaining.

2. The TWU doesn't have our payroll information therefore they would need to collect all that information and hire an outside payroll company to make the distribution plus pay all taxes due on an employer when the funds are distributed under a W-2.[/QUO


Just Wondering's question is the same one that has been bugging myself as well as many others. The TWU is paid very well to represent us in matters such as this, and should have the legal resources to put in place language that prevents lawsuits such as this from occurring. They left what appeared to be a loophole open to these greedy retirees to attempt to snake on our equity money. That's on the TWU - for screwing up the language. So, we have these fine upstanding folks at the TWU International sitting on this money for almost a year now using one lame excuse after another as to why the money can't be distributed. I'm not buying it, and neither is anybody else, and it isn't just because nobody trusts the International.

Take a look at the lack of effort from the TWU International to get the company to cough up the retiree medical match cash. Why the lack of effort? Could it be that if the International has nothing to gain, why put fourth any effort? Kinda like our current status in negotiations. Our pay went up about a year and a half ago, but then again - so did the dues the TWU collects. The International stands to gain nothing by us having our benefits restored. They got the dues cash, and that's all that matters.

 

[JustWondering]

I mean , I honestly do appreciate updates by the TWU , especially when it concerns money, but I’ve always noticed that even after the updates, whether it be about the equity money or the contract that there is always speculation for the information that was not mentioned, and THAT information always seems to be relatively important. Wouldn’t it be nice to know some exact figures or some comparable scenarios based on the shares we received initially to know what we might get now, what that third party financial company’s administrative fees are per man, instead of just the general parameters and the tax rules we have to abide by ? I’m sure the TWU could provide more information so the membership would have a clearer understanding. Bottom line : Stop blindfolding us when it comes to the money , not just this money , any money that we are entitled to due to the sacrifices we make now and that we’ve made in the past. Don’t let them make you think they don’t know either , because if you believe that , I’ve got some oceanfront property in Tulsa I want to sell ya .

 

[NYer]

Just Wondering's question is the same one that has been bugging myself as well as many others. The TWU is paid very well to represent us in matters such as this, and should have the legal resources to put in place language that prevents lawsuits such as this from occurring. They left what appeared to be a loophole open to these greedy retirees to attempt to snake on our equity money. That's on the TWU - for screwing up the language. So, we have these fine upstanding folks at the TWU International sitting on this money for almost a year now using one lame excuse after another as to why the money can't be distributed. I'm not buying it, and neither is anybody else, and it isn't just because nobody trusts the International.

Take a look at the lack of effort from the TWU International to get the company to cough up the retiree medical match cash. Why the lack of effort? Could it be that if the International has nothing to gain, why put fourth any effort? Kinda like our current status in negotiations. Our pay went up about a year and a half ago, but then again - so did the dues the TWU collects. The International stands to gain nothing by us having our benefits restored. They got the dues cash, and that's all that matters.

There was no loophole. Anyone can sue anyone else if they find a lawyer to submit that suit. In this case, it was three separate suits that were combined into one. The fact each court dismissed the case before any hearings on their arguments were made is a sign the language was clear.

There hasn't been any lame excuses. They just weren't ready for the distribution when the case was finally concluded last October. The work that was done from October to now should have been done prior to the end of the case but that didn't happen.

The trigger for the Match was never met, therfore no payout. It was arbitrated and lost not only by the TWU but also by the APFA.

 

[Vortilon]

There was no loophole. Anyone can sue anyone else if they find a lawyer to submit that suit. In this case, it was three separate suits that were combined into one. The fact each court dismissed the case before any hearings on their arguments were made is a sign the language was clear.

There hasn't been any lame excuses. They just weren't ready for the distribution when the case was finally concluded last October. The work that was done from October to now should have been done prior to the end of the case but that didn't happen.

The trigger for the Match was never met, therfore no payout. It was arbitrated and lost not only by the TWU but also by the APFA.

It's pretty clear you're a big fan of the TWU, probably on payroll. Like the TWU always says, "we need to lower our expectations".

 

[NYer]

It's pretty clear you're a big fan of the TWU, probably on payroll. Like the TWU always says, "we need to lower our expectations".

Not at all, I have my complaints as shared on this blog.

I just don't fall into the automatic everything they do is bad bucket.

 

[bob@las-AA]

Can't tell you how many times I have heard that old chestnut. A huge part of the problem, is because this union/association (plain and simple) represents too many different groups. Then when they are all negotiated together, things never turn out good for AMTs. No matter how you look at it - over each contract, AMTs have come out chumpted. The one exception would be the AMFA inspired contract of 2001. Not unlike the Flight Attendants, now even the Flight Dispatchers have left the TWU. AMTs should vote in new representation as well.

Like I said, same people running it just under a different name.

 

[Buck]

I would like to thank President Trump for creating Stock Market Policy that has obviously
doubled our equity Return On Investment.

 

[AANOTOK]

I would like to thank President Trump for creating Stock Market Policy that has obviously
doubled our equity Return On Investment.

It was $77 million before Trump took office. If it's the rumored $130 million (where ever that came from) then I guess you could thank Trump if you so desired. But I'm on board with NYer and feel it's closer to the $80 million ball park.
Again, since it's a TWU secret, I really don't know.

 

[bob@las-AA]

I mean , I honestly do appreciate updates by the TWU , especially when it concerns money, but I’ve always noticed that even after the updates, whether it be about the equity money or the contract that there is always speculation for the information that was not mentioned, and THAT information always seems to be relatively important. Wouldn’t it be nice to know some exact figures or some comparable scenarios based on the shares we received initially to know what we might get now, what that third party financial company’s administrative fees are per man, instead of just the general parameters and the tax rules we have to abide by ? I’m sure the TWU could provide more information so the membership would have a clearer understanding. Bottom line : Stop blindfolding us when it comes to the money , not just this money , any money that we are entitled to due to the sacrifices we make now and that we’ve made in the past. Don’t let them make you think they don’t know either , because if you believe that , I’ve got some oceanfront property in Tulsa I want to sell ya .

Who do you work for and in what station.

 

[Vortilon]

Like I said, same people running it just under a different name.

With an independent union, how could your statement be true?

 

[bob@las-AA]

With an independent union, how could your statement be true?

You must be joking. The day after we show the association the door, everyone who holds any office right down to shop stewards will all funnel themselves through the doors to sign them selves up for elections in the new regime. And at the end of the day what do ya have, nothing more than a name change. Keep your ideas of a card drive or anything alike to your self.

 

[Buck]

You must be joking. The day after we show the association the door, everyone who holds any office right down to shop stewards will all funnel themselves through the doors to sign them selves up for elections in the new regime. And at the end of the day what do ya have, nothing more than a name change. Keep your ideas of a card drive or anything alike to your self.

Whether you are right or wrong thanks for deciding for everyone.