Equity Update

[WeAAsles]

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

Steve you’re not getting YouTubes and Meme’s from me cause you’re not a PSY hiding behind a fake name like a gutless little wimp.

Besides I’m not Mike Mays and I’m not going to defend if he’s the right man for that job. Maybe at the end of the day he’s not the guy.

Maybe they’ll make NYer the new ATD Director? Lololololol. Teehee. Ha ha ha ha ha ha.

 

[WeAAsles]

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

 

[WeAAsles]

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

 

[AANOTOK]

Don't worry Steve, these cartoons and videos the clown posts just shows his upbringing was rough, he had no friends and he needs attention. Don't take it personal, he can't help himself. To think, this immature imbecile was on a ticket for office at one time. No votes...lmao!

 

[AANOTOK]

Keep them coming W, who better to illustrate my points than you...lmao!

 

[WeAAsles]

Keep them coming W, who better to illustrate my points than you...lmao!

Aw I’m not letting the little Mary get in the last word.

 

[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.

What is your opinion on this.
If the problem we face is due to the money that the original money made, and according to Mr Mayes it could still take months to figure out and money will need to be held back anyway, why can't they distribute the original amount now and use the remaining funds to figure out the tax issues one way or another. Maybe some, not all might actually feel a little better and feel like something is being done and the complaining could decrease 3-4%. Is it possible to do something like this? I may not have properly explained it but hopefully you get the gist of what I'm saying

 

[swamt]

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.

Let's also not forget the taxes that will hit you again at end of year for the gains which are considered "income" at tax time again. Also do not forget our brothers and sisters that live in all the state taxed states who will get hit for a third time on the gain taxes. Yes it could very well be at, near or even, maybe, higher than the 50% for taxes. Not sure where the NY'ers and New Jersey folks sit for their high end tax rates. Hey Steve, w, doesn't have a clue what he is talking about, NY'er does as you can see.

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!

DILLY! DILLY!

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

DILLY! DILLY!

 

[swamt]

Keep them coming W, who better to illustrate my points than you...lmao!

Oh he will. He can't help himself. Too much juvenile in him to stop, he can't help it. BTW, no one, I repeat, NO ONE invited him back, The weez terms that folks were using were slamming him under the bus, he took it upon himself to use that as the explanation in order to come back on here to post because he just cannot deal with it. Think about it, did anyone honestly invite him back? No they did not. Yes it was much, much better while he was gone. Plus he absolutely hates it when I am always right, he's fixin to go over the cliff yet again, just watch.

 

[Steve Walegir]

Let's also not forget the taxes that will hit you again at end of year for the gains which are considered "income" at tax time again. Also do not forget our brothers and sisters that live in all the state taxed states who will get hit for a third time on the gain taxes. Yes it could very well be at, near or even, maybe, higher than the 50% for taxes. Not sure where the NY'ers and New Jersey folks sit for their high end tax rates. Hey Steve, w, doesn't have a clue what he is talking about, NY'er does as you can see.


DILLY! DILLY!


DILLY! DILLY!

I take everything here with a grain of salt. I know NYer and Weez, have worked with both of them, not sure weez remembers. I try to ignore the name calling and am usually able to get 2% of useful information from these posts. But mainly it's just daily entertainment

 

[swamt]

And here we go again with all the industrial unions stealing from the members all the time. A very long read because they list every union and the individuals personally that were "convicted" and sentenced to prison. Now you know how the industrial unions handle the members monies from dues being paid. Let's see weez argue this one...


Embezzlement plagues union offices around U.S., records show

 

[WeAAsles]

Oh he will. He can't help himself. Too much juvenile in him to stop, he can't help it. BTW, no one, I repeat, NO ONE invited him back, The weez terms that folks were using were slamming him under the bus, he took it upon himself to use that as the explanation in order to come back on here to post because he just cannot deal with it. Think about it, did anyone honestly invite him back? No they did not. Yes it was much, much better while he was gone. Plus he absolutely hates it when I am always right, he's fixin to go over the cliff yet again, just watch.

YES you ALL did and WERE calling me back. ALL you pathetics could do was go

“Weez, weez, weez, weez”

It’s been days of you all going

“Weez, weez, weez, weez”

You’re all PATHETIC. I’m going to leave again but I guarantee all that will be said here will still be

“Weez, weez, weez, weez”

 

[NYer]

What is your opinion on this.
If the problem we face is due to the money that the original money made, and according to Mr Mayes it could still take months to figure out and money will need to be held back anyway, why can't they distribute the original amount now and use the remaining funds to figure out the tax issues one way or another. Maybe some, not all might actually feel a little better and feel like something is being done and the complaining could decrease 3-4%. Is it possible to do something like this? I may not have properly explained it but hopefully you get the gist of what I'm saying

Assuming there are no tax issues, the next obstacle is getting a mechanism to do a physical distribution.

If a 1099 would be allowed then ComputerShare would be able to handle the distribution and none of this would be an issue.

Apparently, the IRS wants to declare this payout as earnings, needing a W-2. That being the case the TWU would need to get a W-4 from each eligible Member in order to do the payout. That would a logistical nightmare with thousands of Members all over the country. They would need to get addresses, social security numbers and signatures which would be daunting and time consuming. That's why they're hoping the airline does it since they already have all that on file.

 

[CremaDiLimone]

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

the way i read the letter is that the fund grew nearly 50% after the twu sold the shares. so, the twu is on the hook for taxes for some $40 million.

these shares were not distributed to us, so, i believe these shares are subject from the first $1 of gains and also subject to interest earned after being sold and held in a trust. the shares we have already received, other shares due to us were held back to pay capital gains up to the IPO price.

it doesn't seem as though the twu was getting consul and advice about the aftermath of the expected court victory. you'd think that's a given...i assume they pay retainers to tax attorneys and tax accountants.

messy, though it appears it did not have to be this way at all.

 

[WeAAsles]

I take everything here with a grain of salt. I know NYer and Weez, have worked with both of them, not sure weez remembers. I try to ignore the name calling and am usually able to get 2% of useful information from these posts. But mainly it's just daily entertainment

I’m not sure when we worked together Steve?

And don’t tell me I know. Working with me I’m sure was a terrible experience right?

And Forums used to be way more than 2%. That's why I’m saying it’s dead. Again I’m gone for a few days and it’s nothing but

“Weez, weez, weez, weez”

Hell they can’t even STFU about 700UW and he’s “officially” been gone for almost 2 years.

Some of these posters have just become totally pathetic!!!!!