TWU gets 4.8% equity

[Vortilon]

Anybody else wonder why the TWU has been so silent on what their intentions are with the 4.8% equity stake? I see what the APFA plan is with their equity stake - a fair distribution to the membership. I would say the TWU elite (sic) are formulating a plan to keep it away from the membership; in fact, another effort to preserve more dues payers in exchange the equity stake. Stay tuned.

As I predicted, the TWU has come up with a plan for the retiree medical money. How convenient, imagine that - all you need to do is sign over your refund check to the TWU. The TWU is so blatant about screwing the membership, that it's comical. Funny thing is that somehow they manage to fool just enough of the weak minded types - the blind followers of the TWU collective philosophy.

 

[swamt]

Anybody else wonder why the TWU has been so silent on what their intentions are with the 4.8% equity stake? I see what the APFA plan is with their equity stake - a fair distribution to the membership. I would say the TWU elite (sic) are formulating a plan to keep it away from the membership; in fact, another effort to preserve more dues payers in exchange the equity stake. Stay tuned.

As I predicted, the TWU has come up with a plan for the retiree medical money. How convenient, imagine that - all you need to do is sign over your refund check to the TWU. The TWU is so blatant about screwing the membership, that it's comical. Funny thing is that somehow they manage to fool just enough of the weak minded types - the blind followers of the TWU collective philosophy.

I told you guys this from day one. The equity stake is for the TWU International. Yes, they could elect to spread it amongst the membership, but I foresee the TWU International spreading it amongst themselves. And your right the TWU has not made public what they will do with the equity stake as the other unions have.

 

[Realityck]

VORTILON - As I predicted, the TWU has come up with a plan for the retiree medical money. How convenient, imagine that - all you need to do is sign over your refund check to the TWU. The TWU is so blatant about screwing the membership, that it's comical. Funny thing is that somehow they manage to fool just enough of the weak minded types - the blind followers of the TWU collective philosophy.

You apparently didn't read the contract language regarding retiree medical, nor do you understand the Bankruptcy Court's decision to review the retiree medical issue in it's 1114 Proceedings. There is no distribution of contributions until those hearings are concluded and the Judge makes his ruling. Take a nap, we'll wake you up when it's time to rant & rave again.

 

[Bob Owens]

You apparently didn't read the contract language regarding retiree medical, nor do you understand the Bankruptcy Court's decision to review the retiree medical issue in it's 1114 Proceedings. There is no distribution of contributions until those hearings are concluded and the Judge makes his ruling. Take a nap, we'll wake you up when it's time to rant & rave again.

You apparantly dont understand the concept of a company match. The company matched each individuals contribution dollar for dollar, similar to a 401K, Some put in $6000, some put in over $40,000. If we are not retired then we have nothing to do with the 1114 process, and our money should not be used as a bargaining chip for other people.

 

[1AA]

You apparantly dont understand the concept of a company match. The company matched each individuals contribution dollar for dollar, similar to a 401K, Some put in $6000, some put in over $40,000. If we are not retired then we have nothing to do with the 1114 process, and our money should not be used as a bargaining chip for other people.

Thank you Bob for the explanation.
Very much appreciated.

 

[swamt]

So nice to see everybody's favorite ass clown "HS Tool" trying to show his brilliance on this BB. Poor chump doesn't realize that nobody gives a crap about what some TWU suckboy thinks.


Vortilon - The thing about standing in a circle with your circle jerk AMFA groupies is that no one disagrees. Amazing isn't it?

That's because everything the AMFA supporters are telling everyone is truth and factual, therefore no need to disagree. All the BS the teamsters supporters have been splewing is all lies and misinformation that has on all occations been proven wrong and brought to light. Can't help but notice that they also run and hide once they have been proven wrong.

 

[swamt]

That's because everything the AMFA supporters are telling everyone is truth and factual, therefore no need to disagree. All the BS the teamsters supporters have been splewing is all lies and misinformation that has on all occations been proven wrong and brought to light. Can't help but notice that they also run and hide once they have been proven wrong.

BTW: Just like Anomaly, Rice, Overspeed and yourself, Realityck, Please keep posting for the teamsters and TWU, you all are doing a great job for AMFA the more lies and misinformation you spread the more cards AMFA picks up.

 

[Realityck]

OWENS: You apparantly dont understand the concept of a company match. The company matched each individuals contribution dollar for dollar, similar to a 401K, Some put in $6000, some put in over $40,000. If we are not retired then we have nothing to do with the 1114 process, and our money should not be used as a bargaining chip for other people.


I hate to disillusion you as I do know the concept of a company match and you got the first part right Bob, the dollar for dollar match. You also said similar to a 401K, and you were right again.

Where you go off track is saying we have nothing to do with the 1114 process since we’re not retirees. We don’t, but the Retiree Medical Plan involves retirees remember? And that is what the Judge and the 1114 Committee have the authority to review, should the Judge decide to do so.

Your comment about using “our money” as a bargaining chip for other people doesn’t make any sense.

Our Contract Says: “Employer contributions and investment earnings attributable thereto in the Retiree Prefunded Benefits Program Account will be used for the exclusive benefit of participating employees and retirees in the event of Trust termination. That includes the use of the assets for the purpose of continuing retiree health coverage under an alternative program as may be agreed to by the parties”.

It’s obvious you’re very concerned for the retirees and your comment “our money should not be used as a bargaining chip for other people” is certainly an indication of that. But nowhere does the contract language I’ve quoted direct that “our money” has to be used for others.

 

[TWU informer]

OWENS: You apparantly dont understand the concept of a company match. The company matched each individuals contribution dollar for dollar, similar to a 401K, Some put in $6000, some put in over $40,000. If we are not retired then we have nothing to do with the 1114 process, and our money should not be used as a bargaining chip for other people.


I hate to disillusion you as I do know the concept of a company match and you got the first part right Bob, the dollar for dollar match. You also said similar to a 401K, and you were right again.

Where you go off track is saying we have nothing to do with the 1114 process since we’re not retirees. We don’t, but the Retiree Medical Plan involves retirees remember? And that is what the Judge and the 1114 Committee have the authority to review, should the Judge decide to do so.

Your comment about using “our money” as a bargaining chip for other people doesn’t make any sense.

Our Contract Says: “Employer contributions and investment earnings attributable thereto in the Retiree Prefunded Benefits Program Account will be used for the exclusive benefit of participating employees and retirees in the event of Trust termination. That includes the use of the assets for the purpose of continuing retiree health coverage under an alternative program as may be agreed to by the parties”.

It’s obvious you’re very concerned for the retirees and your comment “our money should not be used as a bargaining chip for other people” is certainly an indication of that. But nowhere does the contract language I’ve quoted direct that “our money” has to be used for others.

The Trust will maintain a separate account to hold reserves equal to the
Participants' prefunding contributions, Employer prefunding contributions, and
investment earnings attributable thereto reserved for retiree welfare benefits due
to Participants under the terms of the Plan and to pay administrative expenses
associated with such Program. In the event of termination of the Plan and/or
Trust, the balance of the reserves will be distributed as provided in Article
41(n)(8). In no event will these reserves be used for payment of any expenses
associated with the active employees medical benefits program or for any other
purpose except those identified with respect to retiree welfare benefits in Article
41(n), the Trust Agreement, and the Plan.
The Trust will maintain a separate account to hold reserves equal to the
Participants' prefunding contributions, Employer prefunding contributions, and
investment earnings attributable thereto reserved for retiree welfare benefits due
to Participants under the terms of the Plan and to pay administrative expenses
associated with such Program. In the event of termination of the Plan and/or
Trust, the balance of the reserves will be distributed as provided in Article
41(n)(8). In no event will these reserves be used for payment of any expenses
associated with the active employees medical benefits program or for any other
purpose except those identified with respect to retiree welfare benefits in Article
41(n), the Trust Agreement, and the Plan.


Article 41

In the event of Trust termination, retirees participating in the Retiree
Prefunded Benefits Program will receive any balance of their own contributions to
the Program and investment earnings attributable thereto which have not been
drawn down during the ten year draw down period described in Article 41(n)(7).
Conditioned on Internal Revenue Service approval, active employees'
contributions to the Prefunded Retiree Benefits Program and investment
earnings attributable thereto will be distributed to active employees. Should the
Internal Revenue Service disallow the distribution of active employees'
contributions, the parties agree to establish a mutually satisfactory alternative
regarding the disposition of active employees' contributions in the event of Trust
termination. Employer contributions and investment earnings attributable thereto
in the Retiree Prefunded Benefits Program Account will be used for the exclusive
benefit of participating employees and retirees in the event of Trust termination.
That includes the use of the assets for the purpose of continuing retiree health
coverage under an alternative program as may be agreed to by the parties.



M&R Q&A FROM TWU WEBSITE

3. How long will prefunding monies (company matching contributions) take to be refunded to our members?

This will depend on the outcome of the 1114 process.

 

[Vortilon]

VORTILON - As I predicted, the TWU has come up with a plan for the retiree medical money. How convenient, imagine that - all you need to do is sign over your refund check to the TWU. The TWU is so blatant about screwing the membership, that it's comical. Funny thing is that somehow they manage to fool just enough of the weak minded types - the blind followers of the TWU collective philosophy.

You apparently didn't read the contract language regarding retiree medical, nor do you understand the Bankruptcy Court's decision to review the retiree medical issue in it's 1114 Proceedings. There is no distribution of contributions until those hearings are concluded and the Judge makes his ruling. Take a nap, we'll wake you up when it's time to rant & rave again.

Hey Gramps, I'm going by what I heard at the recent union meeting. Since you are not privy to that info, you wouldn't know. So, next time you stick your foot in your mouth, why not take your dentures out first?

 

[Realityck]

Vortilon:

Hey Gramps, I'm going by what I heard at the recent union meeting. Since you are not privy to that info, you wouldn't know. So, next time you stick your foot in your mouth, why not take your dentures out first?


I don't know what you heard at the Local? meeting or who it was that you claim told it to you junior.

 

[Vortilon]

Vortilon:

Hey Gramps, I'm going by what I heard at the recent union meeting. Since you are not privy to that info, you wouldn't know. So, next time you stick your foot in your mouth, why not take your dentures out first?


I don't know what you heard at the Local? meeting or who it was that you claim told it to you junior.

That's right jackass, so mind your own business. You don't have a dog in this fight anyway, so piss off.

 

[TWU informer]

I heard the same thing about the TWU and AA filing some motion or request to give the TWU the employer contributions and start some TWU insurance plan for the retired.

I have no details, but there are plenty of rumors about the TWU taking our trust fund dollars to start selling more insurance.

The reason this has a valid sound to it is because every other company provided insurance plan that the TWU has lost, they soon start selling the insurance plan.

Better hide your wallet, those concession pushers are coming for it again.

 

[AANOTOK]

Exactly what I was told by my a union rep as well. You will never see the company match as it will be used to help retiree's once the Judge allows AA to take away their Reitree medical.

 

[TWU informer]

Exactly what I was told my a union rep as well. You will never see the company match as it will be used to help retiree's once the Judge allows AA to take away their Reitree medical.

And the cards in Tulsa will flow again and the TWU will be history before the end of the year.