TWU negotiations.........what?

[TWU informer]

And tell me what it takes to get by-laws changed or for members to "have more say" in how the local operates. It is so easy to get on these boards and #### and complain about current "situations" but what you (and many others here)fail to mention is that you are doing NOTHING to try to change things other than griping and threatening to oust the current officers. Look at the records of meeting attendance.....Stewart for example attended NONE!!! As did most of you here. You cry like a bunch of schoolgirls and expect things to happen/change but yet you fail to follow the written procedure to get them changed.

Boo freakin' hoo...........

Why attend meetings?

We vote not to build a new union hall.

It gets built anyway.

We submit a motion to change the by-laws to allow for a run-off election for the position of Local President.

Out of order, illegal.

We sign petititons to remove Shop Stewards from Office, the Local Executive Board votes to leave him in office.

I personally submitted three resolutions to the 1997 Int. Constitutional Convention. Not one made it out of Local 514 doors to be addressed by the delegates.

Jim Little, signed our labor agreement "without further ratification" and then argued in Federal Court that the TWU Consitution doesnt require the members to ratify changes or amendments to our Labor Agreement.

Try to run for Union Office? Oh sure, but not unless you have kissed the dictators asses and conform to their views and rules.

We submit a resolution to the Constitutional Convention to gain a re-call procedure of International Officers, instead the provision for re-call of Local Officers is removed.

Attend what meeting and why Bill? To listen to the Dictators tell us what they have decided next so they can save us from oursleves?

I wont be wasting my time going to any worthless TWU Meetings. I will buy my own popcorn and soda, and I will get my reports on the Dictators latest anti-worker, anti-democracy moves from the Kool-Aid Drinking Stooges who are indeed lucky to have a job brother.

 

[The Goose]

Wow, what a disappointment! I was all excited when Burchette said he was going to stick his hands deep into the company's pockets!

What a letdown!

Burchette made that comment referring to Romano's pockets.

I doubt he intended to reach for money or benefits.

 

[ch53D]

Burchette made that comment referring to Romano's pockets.

I doubt he intended to reach for money or benefits.

Goose, it looks like your coming to the dark side.

Are you ready to step up to the plate to start our own union?

 

[Chuck Schalk]

This article is another kick in the face to the employees and yet we still feel that our collaborative cooperation has some benefit to our members. The company already has their bonuses set up through 2010 and we will have to wait and see at the last minute before we vote on our contract what we wont have in our next contract. Give another hats off to management, they know how to take care of their own!


American board OKs bonus package for its top execs
By TREBOR BANSTETTER
Star-Telegram Staff Writer
Top executives at American Airlines are slated to receive another package of stock bonuses in 2010, under a compensation deal the airline's board approved this week.

The stock bonus plan, detailed in a filing with the Securities and Exchange Commission on Tuesday, is based on how the airline performs from 2007 through 2009. It pays out in 2010 based on several factors, including the performance of the airline's stock and how it compares with other major carriers'.

The bonuses, which are paid in April, have been a point of contention between the airline's management and its unions in recent years. Hundreds of employees protested the payouts at the airline's Fort Worth headquarters, at Dallas/Fort Worth Airport and at airports nationwide in April.

Union members argue that the bonuses are inappropriate while employees continue to work under reduced wages and benefits.

Airline executives have countered that their compensation is less than executive pay at some other airlines and similar-size companies, and necessary to retain top talent.

The airline's top executives and managers are eligible to collect from a similar plan next April. That plan covers the years 2004 through 2007.

American hasn't disclosed how many executives and other managers are covered by the bonus plans. Union officials have said bonuses paid this year covered about 800 people.

Shares of AMR Corp. (ticket: AMR), American's parent, rose 24 cents to $28.83 per share Tuesday.

BONUS PLAN

American Airlines' executives could collect millions worth of company stock in 2010 under a bonus deal approved Monday.




Executive Title Payout*
Gerard Arpey Chief executive $4.8 million
Tom Horton Chief financial officer $2.6 million
Dan Garton Executive vice president $2.6 million
Gary Kennedy General counsel $1.5 million
Bob Reding Senior vice president $1.5 million
*In company stock, if plan pays out at the maximum level, valued at Tuesday's closing price
Source: Securities and Exchange Commission

Trebor Banstetter, 817-390-7064
tbanstetter@star-telegram.com

 

[Ken MacTiernan]

This article is another kick in the face to the employees and yet we still feel that our collaborative cooperation has some benefit to our members. The company already has their bonuses set up through 2010 and we will have to wait and see at the last minute before we vote on our contract what we wont have in our next contract. Give another hats off to management, they know how to take care of their own!


American board OKs bonus package for its top execs
By TREBOR BANSTETTER
Star-Telegram Staff Writer
Top executives at American Airlines are slated to receive another package of stock bonuses in 2010, under a compensation deal the airline's board approved this week.

The stock bonus plan, detailed in a filing with the Securities and Exchange Commission on Tuesday, is based on how the airline performs from 2007 through 2009. It pays out in 2010 based on several factors, including the performance of the airline's stock and how it compares with other major carriers'.

The bonuses, which are paid in April, have been a point of contention between the airline's management and its unions in recent years. Hundreds of employees protested the payouts at the airline's Fort Worth headquarters, at Dallas/Fort Worth Airport and at airports nationwide in April.

Union members argue that the bonuses are inappropriate while employees continue to work under reduced wages and benefits.

Airline executives have countered that their compensation is less than executive pay at some other airlines and similar-size companies, and necessary to retain top talent.

The airline's top executives and managers are eligible to collect from a similar plan next April. That plan covers the years 2004 through 2007.

American hasn't disclosed how many executives and other managers are covered by the bonus plans. Union officials have said bonuses paid this year covered about 800 people.

Shares of AMR Corp. (ticket: AMR), American's parent, rose 24 cents to $28.83 per share Tuesday.

BONUS PLAN

American Airlines' executives could collect millions worth of company stock in 2010 under a bonus deal approved Monday.
Executive Title Payout*
Gerard Arpey Chief executive $4.8 million
Tom Horton Chief financial officer $2.6 million
Dan Garton Executive vice president $2.6 million
Gary Kennedy General counsel $1.5 million
Bob Reding Senior vice president $1.5 million
*In company stock, if plan pays out at the maximum level, valued at Tuesday's closing price
Source: Securities and Exchange Commission

Trebor Banstetter, 817-390-7064
tbanstetter@star-telegram.com

Makes you wonder when the people who don't care will wake up and actually give a s#!).

I also wonder when/what type of response the union will make regarding this new developement.

 

[The Goose]

Goose, it looks like your coming to the dark side.

Are you ready to step up to the plate to start our own union?

I'd hardly call it the 'Dark Side'. Illuminated would be a better term.

If I had enough years left before I plan to retire, I'd gladly jump in and assist, but like amfa, it's doubtful there'd be any affiliation possible with more powerful organizations - in that lies the power, not simply paying dues to any outfit caring to call itself a 'Union', or 'Association', or 'Group of Pissed Off Crazy Bastards', as the case may be, and hoping for the best outcome.

I can appreciate Stewart's desire to remove obviously corrupt representation by getting the amfa ball rolling, but I can't, for the life of me, understand why he felt the only available choice, considering the no-raid AFL-CIO agreements, was such a good idea. With no affiliation and no power or influence, going toe-to-toe with a major airline (NWA) had a predictable outcome. If I could assure myself of not assisting in the creation of another group of amateur hacks similar to the one (amfa) that caused the NWA mechs such grief by their total disregard for all signs of the company preparing for battle, I'd be there, with others, in a heartbeat - maybe faster.

You'd asked this of me some time ago, and I had to think a while to respond.

 

[The Goose]

Makes you wonder when the people who don't care will wake up and actually give a s#!).

I also wonder when/what type of response the union will make regarding this new developement.

Ken:

When Luis made the comment that all aspects of the 'Working Together' tripe would be examined and the parts that don't benefit the membership would be canned, I took that to mean it is history.

I think a full-page ad, similar to what American put in the papers detailing what the company has done and our reasons for backing out of the 'experiment' would be in order. Also, as I keep saying, a blurb about where the executive bonus money comes from would go a long way toward getting some favor to our side from the shareholders who would have every right to be rather pissed off. The big institutional investors seem to have been forewarned about the coming drop in stock prices as fewer are listed in their 13-D SEC forms as of 30 June, 2007 and got out around the $41 per share mark.

 

[eolesen]

The big institutional investors seem to have been forewarned about the coming drop in stock prices as fewer are listed in their 13-D SEC forms as of 30 June, 2007 and got out around the $41 per share mark.

Perhaps the institutional traders are simply smart enough to know when to fold 'em, and to recognize the real value of the stock vs. the price it is trading at. That's how they earn their money...

When AMR hits a point where those same traders think it has bottomed out, they'll be right back in.

 

[Boomer]

Does anyone have an copy of the TWU profitsharing formula they could post to the board?

The way I see it, we've already reached the $500,000,000.00 trigger for profit sharing:

A) FORT WORTH, Texas - AMR Corporation, the parent company of American Airlines, Inc., today reported a net profit of $81 million for the first quarter of 2007, or $0.30 per diluted share.

B) FORT WORTH, Texas – AMR Corporation, the parent company of American Airlines, Inc., today reported a net profit of $317 million for the second quarter of 2007, or $1.08 per diluted share.

C) NEW YORK, July 5 (Reuters) - AMR Corp. (AMR.N: Quote, Profile, Research) said on Thursday that unit American Airlines is expected to record a gain of about $140 million from the sale of shares in ARINC to an affiliate of Carlyle Group.

The totals for the first two quarters and the sale of the American Airlines interest in ARINC come to $538,000,000.00. Just think, we still have two more quarters to go.

 

[AMFAMAN]

Does anyone have an copy of the TWU profitsharing formula they could post to the board?

The way I see it, we've already reached the $500,000,000.00 trigger for profit sharing:

A) FORT WORTH, Texas - AMR Corporation, the parent company of American Airlines, Inc., today reported a net profit of $81 million for the first quarter of 2007, or $0.30 per diluted share.

B) FORT WORTH, Texas – AMR Corporation, the parent company of American Airlines, Inc., today reported a net profit of $317 million for the second quarter of 2007, or $1.08 per diluted share.

C) NEW YORK, July 5 (Reuters) - AMR Corp. (AMR.N: Quote, Profile, Research) said on Thursday that unit American Airlines is expected to record a gain of about $140 million from the sale of shares in ARINC to an affiliate of Carlyle Group.

The totals for the first two quarters and the sale of the American Airlines interest in ARINC come to $538,000,000.00. Just think, we still have two more quarters to go.

Found the following:

http://web.archive.org/web/20031028142043/...nt033103amt.pdf

 

[Bob Owens]

Found the following:

http://web.archive.org/web/20031028142043/...nt033103amt.pdf

"Nothing in this letter of agreement is intended to limit the company's rights under applicable laws to modify, annul or terminate the plan".

Didnt the company install a cap on profit sharing? I thought the plan only only paid out 15% between $500 million and $1billion, after that nothing more.

 

[eolesen]

Didnt the company install a cap on profit sharing? I thought the plan only only paid out 15% between $500 million and $1billion, after that nothing more.

No cap as far as I recall. That would sort of defeat the purpose -- there'd be no incentive to try and beat $1B in profit.

 

[Bob Owens]

No cap as far as I recall. That would sort of defeat the purpose -- there'd be no incentive to try and beat $1B in profit.

Well there really isnt much of an incentive there anyway. Work harder and if they make $500,000,000 in profits they will start to put 15% of the excess into a fund to be divied up between 80,000 employees or work as little as possible and get real cash through OT.

Even if AA made $1 billion in profits, 5% of their total revenue, only $75 million (less than what they have paid in bonuses) would go toward profit sharing.Divide that by 80,000 employess and it comes out to less than $950 each, or around 20 hrs or OT. Night shift at JFK is at 300 hrs with 5 months left.

 

[The Goose]

Well there really isnt much of an incentive there anyway. Work harder and if they make $500,000,000 in profits they will start to put 15% of the excess into a fund to be divied up between 80,000 employees or work as little as possible and get real cash through OT.

Even if AA made $1 billion in profits, 5% of their total revenue, only $75 million (less than what they have paid in bonuses) would go toward profit sharing.Divide that by 80,000 employess and it comes out to less than $950 each, or around 20 hrs or OT. Night shift at JFK is at 300 hrs with 5 months left.

What amazes me is how people want to whine about the bonuses. Pay attention ...

AMR set up this 'plan' in August 2005 with a filing (S-3 form) with the SEC for an indeterminent amount of stock - the filing fees cost the corporation $150-$200k.

This new stock was handed to the elite who promptly sold it, depressing the shareholder value; i. e., the shareholders paid for the bonuses, not the company. Consider - the stock was at $41 per share at one time, then retreated to $24/25 per after the darlings got their 'due'. By my calculator, that's $16.00 per share the shareholders ate, not the corporation.

Some major shareholders were warned and pulled out of their stock positions, as there are fewer 13-D forms (statements of beneficial ownership, non officer) filed at the end of the last quarter (30 June) than the previous quarter (ended 30 March). FMR is the largest, I believe, and their holding are down about 700k shares, but still own a buttload in their fund. Vanguard's in there too as are 1 or 2 others.

This is no doubt a ploy to sell variable compensation to the TWU membership - "we want some of that!" Trouble is, anything we get will have to come from the company, rather than out of the shareholders' pockets.

 

[Hopeful]

What amazes me is how people want to whine about the bonuses. Pay attention ...

AMR set up this 'plan' in August 2005 with a filing (S-3 form) with the SEC for an indeterminent amount of stock - the filing fees cost the corporation $150-$200k.

This new stock was handed to the elite who promptly sold it, depressing the shareholder value; i. e., the shareholders paid for the bonuses, not the company. Consider - the stock was at $41 per share at one time, then retreated to $24/25 per after the darlings got their 'due'. By my calculator, that's $16.00 per share the shareholders ate, not the corporation.

Some major shareholders were warned and pulled out of their stock positions, as there are fewer 13-D forms (statements of beneficial ownership, non officer) filed at the end of the last quarter (30 June) than the previous quarter (ended 30 March). FMR is the largest, I believe, and their holding are down about 700k shares, but still own a buttload in their fund. Vanguard's in there too as are 1 or 2 others.

This is no doubt a ploy to sell variable compensation to the TWU membership - "we want some of that!" Trouble is, anything we get will have to come from the company, rather than out of the shareholders' pockets.

Let the executives have their stock options. I don't want any stock. Just give me what was taken from us and start negotiating from that point. Let the executives continue to receive whatever they negotiate.