TWU Equity Distribution Informational Meeting – Hand Out
- Thread starter AAmechanic
- Start date
Tomorrow more information will be known. The APA, APFA, and the TWU took different paths as to distribution, with the TWU being the most restrictive.
APA
A pilot who is active on the AA seniority list and who meets all other eligibility requirements on either the Initial Eligibility Determination Date or the Final Eligibility Determination Date will be eligible for the equity distribution as an active AA pilot. The initial eligibility determination date is Jan. 1, 2013. A pilot who is in a status qualified for the distribution as of the Initial Eligibility Determination Date will remain qualified regardless of subsequent changes in status.
APFA
"The Claim will be allocated among eligible Flight Attendants on the basis of W-2 gross earnings (i.e. earnings before any deductions) from January 1, 2009 through August 31, 2012. Each individual Flight Attendant’s share of the Claim will be equal to her/his earnings over this time period divided by the earnings of all eligible Flight Attendants during the same period. APFA believes that this method of distribution is the fairest and most practical, and is consistent with what other unions have done in bankruptcy," the union said in a hotline message to members.
TWU
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).
Yep, the retirees get the stiff one, once more.
And it will only get worse for the retirees if you guys vote the teamsters in. Just look at what they are currently (as well as in the past) doing to their union member retirees. Look at what the first thing is to go at all teamster represented carriers that went into BK. You guys will lose your pensions if you vote for the teamsters. It could be ASAP or it may be next year or in about 3 years, but, there is no doubt, the pensions are history if you guys bring in the teamsters. I really hope you guys are not that blinded and see thru the teamsters "propaganda" just to get more and more dues paying members to put into the inflated salaries of the teamsters completely way over staffed officers within and thru-out the teamsters organization. If you guys end up bringing in the teamsters you will get everything you deserve, and I don't want to hear any of you cry about it later...
AANOTOK
Veteran
- Oct 10, 2009
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swamt - with all due respect, can you please continue your union pumping/bashing somewhere else. Our equity distribution is our battle and has absolutely nothing to do with you. I'm a little tired of you taking every single AA and it's employees related items and turning it in to a union issue. Please stop doing that. Heck, you don't even work for AA, so let us worry about this ourselves. Again, you work for Southwest, this topic is about AA and it's equity distribution. Please go!
AA-MRO.COM
Senior
- Mar 12, 2012
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When the Teamsters take over at AA will the teamster (x twuu ) represented employees get a stake in the company ? Does anyone have an answer to this question will the RAID committee have an answer seems the twu is going to say no and the teamsters are going to say yes who knows the legitimate answer to this and anything to back it up.
bob@las-AA
Veteran
[font="Arial""]But this is a public forum! “swamt” is expressing his or her free opinion that is welcome on all publicly run boards.[/font]
[font="Arial""][font="Arial""]You might get some valuable insight on past experience.[/font][font="Arial""] [/font][/font]
[font="Arial""][font="Arial""] [/font][/font]
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
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Right, bob@las, right....Teamster bad, TWU bad, AMFA good (none of which I dispute) but no bob@las, I have learned all I need to from swamt. I would like to read a thread and debate/enjoy it without the mentioned above agenda. But bob@las, thanks for your input, it is free and public!
enough already
Veteran
- Jan 8, 2003
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So apparently ANYONE who is/has taken the early out, no matter when they're leaving, will NOT participate in the Equity Disrtibution. This according to the presentation I'm listening to.
Yep, the fat lady has sung and has left the building.. God bless America..
Heard from a mechanic that left a few weeks ago that there will be a fight, which is standard procedure with the TWU.
Chuck Schalk
Veteran
- Nov 17, 2006
- 1,042
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the equity that TWU will distribute is said to derive from four component sources: 1)
the 1113 concessions on scope and pensions, 2) the value for American’s reduced demand to another organization (“me
too” agreements), 3) settlement of the International grievance on health insurance premiums, and 4) settlement of the
International grievance on the outsourcing of 757 overhauls. All this 4.8% equity stake is being spun by the above language to be in lieu of everything we gave up............what a sham! our pension alone was alone $240,000 dollars over 10 years and the rest is on top of that. Now the TWU will fall back on this as we agreed to it and don't complain about it!! As a group we really are suckers to corporate unionism and corporate greed.
the 1113 concessions on scope and pensions, 2) the value for American’s reduced demand to another organization (“me
too” agreements), 3) settlement of the International grievance on health insurance premiums, and 4) settlement of the
International grievance on the outsourcing of 757 overhauls. All this 4.8% equity stake is being spun by the above language to be in lieu of everything we gave up............what a sham! our pension alone was alone $240,000 dollars over 10 years and the rest is on top of that. Now the TWU will fall back on this as we agreed to it and don't complain about it!! As a group we really are suckers to corporate unionism and corporate greed.
You hit the nail on the head Chuck. Not only that, the TWU is charging the membership a 5% handling fee. The TWU's response would be "well, the Teamsters would probably charge 10%". I couldn't argue with that. A lose lose proposition with either the TWU or the IBT.
No need to fight, this is America..plenty of lawyers need money too.
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