Equity Update

[Steve Walegir]

Ladies and gentlemen, the TWU has just provided their "out" when you get screwed on your equity.
It's everyone's fault but theirs!

http://www.twulocal513.org/docs/Equity Distribution Update 1-06-18.pdf

Sitting in the break room I overheard some people talking about the letter Mayes put out. According to what they got out of it the possibility that the irs could take 50% from the fund was the main takeaway. Ummm 50%, is there a 50% tax bracket? If so why would anyone with money invest? Perhaps he ment to say up to 50% of the money in the fund could be subject to the capital gains tax. If that's the case can we please stop having fleet service clerk's write letters about subjects they aren't professionally trained in. If I'm wrong and a 50% tax rate does exist then I will stop writing about subjects I am not professionally trained in.

 

[WeAAsles]

Ok seriously how pathetic are some of you people? And people tell me to get a life?

I told you guys I was jumping off here weeks ago and now all I’m hearing is Forums has become “Weez Weez Weez Weez Weez”

 

[WeAAsles]

It's been a bad week for a TWU apologist.

I’m sorry that I have you blocked on Facebook and you have to use a mentally slow dimwit in Kevin to try to get my attention you piece of garbage.

Do you NEED me to unblock you to “try” and gain some validation or attention in your life?

 

[WeAAsles]

Sitting in the break room I overheard some people talking about the letter Mayes put out. According to what they got out of it the possibility that the irs could take 50% from the fund was the main takeaway. Ummm 50%, is there a 50% tax bracket? If so why would anyone with money invest? Perhaps he ment to say up to 50% of the money in the fund could be subject to the capital gains tax. If that's the case can we please stop having fleet service clerk's write letters about subjects they aren't professionally trained in. If I'm wrong and a 50% tax rate does exist then I will stop writing about subjects I am not professionally trained in.

Those last 2 letters by Mike Mays were absolutely terrible I agree 100%. Even though I get the point of the things he’s trying to say they both completely backfired. I’d have to say the Company just gained a huge Ace in their hand watching everyone knock the TWU right now.

Absolutely proved without a doubt IMO that we are all easily bought and all they have to do now is bide their time and wait and we’ll give in. They’re going to believe the loudest among us are who we really are.

Anyway you could be right on that 50% line? 50% would be subject to Tax not a 50% Tax rate. Unless they are saying they would have to hold back 50%?

That update was honestly even confusing to me I have to say. (Or maybe I should apologize about that as the official Energizer Apologizer for the TWU)

Otherwise though glad they’re waiting for clarity from the IRS before F’ing up and rushing it out to us to satisfy the pathetically desperate for money crowd. They have a duty to protect MY assets as best possible.

 

[Steve Walegir]

Those last 2 letters by Mike Mays were absolutely terrible I agree 100%. Even though I get the point of the things he’s trying to say they both completely backfired. I’d have to say the Company just gained a huge Ace in their hand watching everyone knock the TWU right now.

Absolutely proved without a doubt IMO that we are all easily bought and all they have to do now is bide their time and wait and we’ll give in. They’re going to believe the loudest among us are who we really are.

Anyway you could be right on that 50% line? 50% would be subject to Tax not a 50% Tax rate. Unless they are saying they would have to hold back 50%?

That update was honestly even confusing to me I have to say. (Or maybe I should apologize about that as the official Energizer Apologizer for the TWU)

Otherwise though glad they’re waiting for clarity from the IRS before F’ing up and rushing it out to us to satisfy the pathetically desperate for money crowd. They have a duty to protect MY assets as best possible.

We have been waiting since October for clarity, eventually someone has to call B.S.

In the future can we get an update from our tax lawyers. I'm kinda tired of this. It's like asking your pizza guy to do an engine overhaul on your car, sure maybe he could figure it out but why not take it to a professional

 

[WeAAsles]

We have been waiting since October for clarity, eventually someone has to call B.S.

In the future can we get an update from our tax lawyers. I'm kinda tired of this. It's like asking your pizza guy to do an engine overhaul on your car, sure maybe he could figure it out but why not take it to a professional

Steve I honestly think we might NEED the Company to help us distribute the trust? Bear with me I’m not sure the TWU has the information where all the people who are entitled to a cut live? Many members don’t provide the Union their personal addresses.

As far as October I think we waited almost 5 years for the Equity suit to end and now Holy Moly it’s been a whopping 3 months since that ended.

I wish (SERIOUSLY WISH) people would be as up in arms at the Company that we’re now over 2 years waiting for an industry leading JCBA.

Steve the thing with me now is I’ve just about had it. I pretty much don’t give a chit anymore. I want our Negotiators to sell us out. It’s expected anyway. I’ve got a ton of Seniority now and I might as well join that good old IGM club everyone else is in.

 

[NYer]

Sitting in the break room I overheard some people talking about the letter Mayes put out. According to what they got out of it the possibility that the irs could take 50% from the fund was the main takeaway. Ummm 50%, is there a 50% tax bracket? If so why would anyone with money invest? Perhaps he ment to say up to 50% of the money in the fund could be subject to the capital gains tax. If that's the case can we please stop having fleet service clerk's write letters about subjects they aren't professionally trained in. If I'm wrong and a 50% tax rate does exist then I will stop writing about subjects I am not professionally trained in.

The 50% number doesn't make too much sense even if that tax liability is compounded, we'd need further explanation of that.

However, in reading the letter it seems the biggest issue or liability for us would be the ability of the value being released as a 1099 or a W-2, and this may also explain the 50%.

If the tax liability is determined by the IRS to be reported via W-2, rather than a 1099, then the value will essentially be taxed twice. Huh?

The TWU would be on the hook for the capital gains to be paid prior to distribution. After that has been done the remaining funds would be subject to distribution as earnings to the Member (a W-2). As a W-2 the "employer" (in this case AA, if they distribute) would also be subject to FICA and other taxes which they wouldn't want to pay and would also come from the remaining balance of the Equity. In essence, we'd end up paying for the Capital Gains, our own income taxes and the "employer" taxes as well.

Add all that up and it could be near the 50% they quote in the letter.

 

[Steve Walegir]

The 50% number doesn't make too much sense even if that tax liability is compounded, we'd need further explanation of that.

However, in reading the letter it seems the biggest issue or liability for us would be the ability of the value being released as a 1099 or a W-2, and this may also explain the 50%.

If the tax liability is determined by the IRS to be reported via W-2, rather than a 1099, then the value will essentially be taxed twice. Huh?

The TWU would be on the hook for the capital gains to be paid prior to distribution. After that has been done the remaining funds would be subject to distribution as earnings to the Member (a W-2). As a W-2 the "employer" (in this case AA, if they distribute) would also be subject to FICA and other taxes which they wouldn't want to pay and would also come from the remaining balance of the Equity. In essence, we'd end up paying for the Capital Gains, our own income taxes and the "employer" taxes as well.

Add all that up and it could be near the 50% they quote in the letter.

You should give lessons in letter writing. That was a good explanation, something Mr Mayes was seriously lacking. NY you might actually have a future in this union, you should consider running for office (lol relax everyone I know who he is). One thing I'll add is as I now personally see it there is no way AA will help distribute the funds. I'm sure there was a large portion at hdq that didn't want to help due to the protests but now after the first letter Mike Mayes put out about the $1000 I'm sure those who were on the fence have fallen off.

 

[WeAAsles]

You should give lessons in letter writing. That was a good explanation, something Mr Mayes was seriously lacking. NY you might actually have a future in this union, you should consider running for office (lol relax everyone I know who he is). One thing I'll add is as I now personally see it there is no way AA will help distribute the funds. I'm sure there was a large portion at hdq that didn't want to help due to the protests but now after the first letter Mike Mayes put out about the $1000 I'm sure those who were on the fence have fallen off.

Do you really think the Members overall in general are intelligent enough to understand any of that? Let’s be real here and say it, no they’re not.

And as far as the Company helping. Who knows what type of Shakespeare might be going on behind the scenes?

If you don’t think there’s a lot of acting going on then I got a bridge you might want to look at.

 

[AOAMT86]

This is money owed to the membership by the company from the bankruptcy proceedings and the company is not willing to help in the distribution just as they are not willing to settle our contract. Everyone just keep pissing and moaning but the planes keep rolling. Do I have to define insanity

 

[AANOTOK]

Those last 2 letters by Mike Mays were absolutely terrible I agree 100%. Even though I get the point of the things he’s trying to say they both completely backfired. I’d have to say the Company just gained a huge Ace in their hand watching everyone knock the TWU right now.

Absolutely proved without a doubt IMO that we are all easily bought and all they have to do now is bide their time and wait and we’ll give in. They’re going to believe the loudest among us are who we really are.

Anyway you could be right on that 50% line? 50% would be subject to Tax not a 50% Tax rate. Unless they are saying they would have to hold back 50%?

That update was honestly even confusing to me I have to say. (Or maybe I should apologize about that as the official Energizer Apologizer for the TWU)

Otherwise though glad they’re waiting for clarity from the IRS before F’ing up and rushing it out to us to satisfy the pathetically desperate for money crowd. They have a duty to protect MY assets as best possible.

You are an idiot. You use that same old crap "everyone needs the money" when your moron union is thrown back in your face. They said 50% and what you also failed to mention is the cost that would come from your equity if AA doesn't agree to distribute it. Did AA ever agree to do that. Or after all the bad mouthing Mike and others have done about the company did they assume AA would do it with open arms. They had many years to get that worked out and finalized...yep W. you truly are an apologist, and a bad one at that. You look and sound like a fool, and NYer makes you look pathetic. Your union is better served when you are silent!

 

[Steve Walegir]

Do you really think the Members overall in general are intelligent enough to understand any of that? Let’s be real here and say it, no they’re not.

And as far as the Company helping. Who knows what type of Shakespeare might be going on behind the scenes?

If you don’t think there’s a lot of acting going on then I got a bridge you might want to look at.

At the risk of getting a YouTube video for this you might be right about actors. I'm seeing Mike Mayes playing the part of Gov. Lepetomane in blazing saddles. We gotta do something to save our phoney bologna jobs immediately hurump hurump

I'm sure he didn't get a hurump from 1 or 2 local presidents who will remain nameless

 

[WeAAsles]

You are an idiot. You use that same old crap "everyone needs the money" when your moron union is thrown back in your face. They said 50% and what you also failed to mention is the cost that would come from your equity if AA doesn't agree to distribute it. Did AA ever agree to do that. Or after all the bad mouthing Mike and others have done about the company did they assume AA would do it with open arms. They had many years to get that worked out and finalized...yep W. you truly are an apologist, and a bad one at that. You look and sound like a fool, and NYer makes you look pathetic. Your union is better served when you are silent!

On this topic $$Money$$ again I was 100% sure you (Unknown Troll) would chime in. Again I really am trying to leave Airline Forums but you pathetics seem to really NEED DESPERATELY my attention.

But since you were mentally compelled to respond to me. I’m not the one pissing and moaning for cash. That’s you buddy, always been you.

Now go ahead and get the last word you other piece of Garbage. Maybe one day you’ll be able to get me out of your head?

 

[AANOTOK]

...and the fact remains, you're a poor pathetic piece of garbage idiot...now go away again, clown!

 

[AANOTOK]

Don't you get tired of being schooled by NYer? I'm embarrassed for you!