AAmechanic
Member
- May 16, 2011
- 21
- 4
TWU Equity Distribution Informational Meeting – Hand Out Link: http://twu514.org/fi...ion-HandOut.pdf
TWU Equity Distribution Informational Meeting – Hand Out
- Thread starter AAmechanic
- Start date
Well there it is:
TWU will reserve 5% of the shares issued to cover things
like
inaccuracies that come to
light, app
eals, administrative,
and legal expenses.
Any amounts not spent
(except for minimal amounts)
will be distributed
consistent with the
methodology for distribution of the shares.
Everybody was speculating on weather or not the TWU would attempt to justify putting their greedy little fingers on some of the money. Yet again with lame justification. About as effective as the International sending their stooges around DFW today in an attempt to figure out why the AMTs are unhappy with the representation they received. It damn near turned into a riot.
TWU will reserve 5% of the shares issued to cover things
like
inaccuracies that come to
light, app
eals, administrative,
and legal expenses.
Any amounts not spent
(except for minimal amounts)
will be distributed
consistent with the
methodology for distribution of the shares.
Everybody was speculating on weather or not the TWU would attempt to justify putting their greedy little fingers on some of the money. Yet again with lame justification. About as effective as the International sending their stooges around DFW today in an attempt to figure out why the AMTs are unhappy with the representation they received. It damn near turned into a riot.
enough already
Veteran
- Jan 8, 2003
- 659
- 249
It would be nice to know what the secret formula is....
TWU informer
Veteran
- Nov 4, 2003
- 7,550
- 3,731
What a crock, we pay two hours pay per month is dues to be represented, and now they want us to pay again? Talk about evil greedy asses.....unreal
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
I'm still not sure how it is getting distributed. I know it will be 40-50% in stock the day after the emerge from BK and then the rest within 120 days later. But what is it based on, W-2 earnings, from 2011, Part time, full time status....pay rates??? Can anyone explain it in a nutshell?
Looks like the early outs got a stiff one...
For your sake (if you are leaving) I hope you're right; unfortunately, I have heard otherwise. In other words, if you are already in the que to depart the company - in essence - you are already gone. Gonna have to get a ruling on that - heard it from a guy who is leaving in a few months as well.
enough already
Veteran
- Jan 8, 2003
- 659
- 249
Kind of hard to argue with being on the payroll until:
"As a general rule, to be eligible to participate in the distribution, a TWU represented employee would have to have been on payroll on both the bankruptcy filing date and the end of the eligibility period (7/26/13). But there are exceptions depending on specific circumstances."
"As a general rule, to be eligible to participate in the distribution, a TWU represented employee would have to have been on payroll on both the bankruptcy filing date and the end of the eligibility period (7/26/13). But there are exceptions depending on specific circumstances."
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
Let me make this a little simpler. What does "Straight time "all-in" rates of pay mean"?
Thanks!
Senor Pelon
Member
- Aug 21, 2002
- 73
- 12
So let me see if I understnd this: I retired effective 1 April 2013. Just retired, did not take a buyout. Does that mean I do not qualify to receive any shares?
enough already
Veteran
- Jan 8, 2003
- 659
- 249
"As a general rule, to be eligible to participate in the distribution, a TWU represented employee would have to have been on payroll on both the bankruptcy filing date and the end of the eligibility period (7/26/13). But there are exceptions depending on specific circumstances."
Senor Pelon
Member
- Aug 21, 2002
- 73
- 12
Does anyone know the "specific circumstances"?
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