What's the word on the equity?

[mike33]

If the equity controversy is because the retires were paid something to leave and that was their only stake, then how different is it that those who stayed should get equity in a new stock being created by a 70/30 combination of a company they never worked for? Is the 30% fair to divide coming from US stock ? If yes then retirees that left should be entitled ! ( just saying)

 

[AANOTOK]

There are much more variables than that. Easy to take sides when 1. it doesn't involve you and 2. you do not know all the facts...(just saying, too)

 

[mike33]

Then it should be 30% less and yes I don't know all the facts . But I know 30% is coming from US or it may be a little less but the facts are in the stock filing.

 

[AABNA]

Another small chunk comes from health benefit cuts that were negotiated by the union and American Airlines in 2003 but totaled great savings than expected in later years.
And as a retiree I don't get any of this?

 

[Vortilon]

Then it should be 30% less and yes I don't know all the facts . But I know 30% is coming from US or it may be a little less but the facts are in the stock filing.

Last time I checked, none of the equity value is coming from the US Air side. The formula used, is based on the value of AA only.

 

[AANOTOK]

Well, that makes the case even stronger...I and others will eventually work for the merged company that is providing the 72%-28%. The EO folks will have been long gone (with money) when this takes place. Sounds like to me that your beef isn't our EO folks or the equity they failed to receive, it should be with either the AA/US merger or US for you not getting anything from this combination (i.e Equity).

 

[OldGuy@AA]

Another small chunk comes from health benefit cuts that were negotiated by the union and American Airlines in 2003 but totaled great savings than expected in later years.
And as a retiree I don't get any of this?

Yes you should and will get a share of this. What you have no right to is the amount of shares we will get for change in scope that you will not have to live with. Also the loss of pension accrual which you also don't have to endure. Those of us who could not leave will not accrue any more pension benefits. Retired people don't accrue them anyway. These two items make up the majority of the equity stake. Don't demand things that you have no right to. Isn't it bad enough that the early outers swung the vote to force the rest of us into this mess?

 

[OldGuy@AA]

Hey Oldguy... It's spousal abuse syndrome....... It doesn't stop till you get the f#%k out...

No actually it's extortion.

 

[AABNA]

Yes you should and will get a share of this. What you have no right to is the amount of shares we will get for change in scope that you will not have to live with. Also the loss of pension accrual which you also don't have to endure. Those of us who could not leave will not accrue any more pension benefits. Retired people don't accrue them anyway. These two items make up the majority of the equity stake. Don't demand things that you have no right to. Isn't it bad enough that the early outers swung the vote to force the rest of us into this mess?

 

[AANOTOK]

Yes you should and will get a share of this.

I do not believe he or anyone else that voluntarily retired or took the EO will receive anything from the Equity distribution unless you were part of this group.

" The principal change is that Title II Cabin Cleaners/Utility Persons, whose classifications were eliminated during the eligibility period and had no ability to exercise their seniority to another position in the company, will be eligible to participate in the equity distribution".

 

[Jager]

In the M&R and Stores work groups, 1,564 workers elected the “early out”/retirement option. Do you really think these guys swung the vote? Seriously doubt it... I for one voted no and took the EO as option 2..

 

[screwed again]

That is how I read it as well AANOTOK. Unless of course there is something in the details.

 

[OldGuy@AA]

In the M&R and Stores work groups, 1,564 workers elected the “early out”/retirement option. Do you really think these guys swung the vote? Seriously doubt it... I for one voted no and took the EO as option 2..

The first "Last best offer" (M&R) was voted down by over 700 votes. The second 'Last best offer"( M&R) vote passed by 48 total votes. Since over 1000 M&R took the early out and taking into consideration that some did vote no, yes I think they swung the vote. Nobody but the TWU international will deny the second L.B.O. was worse than the first. The early out was a bone thrown at a certain demographic and it was intended to sway just enough yes votes to carry the contract. They figured it out perfectly when you realize that it passed by 48 votes. The TWU never misses an opportunity to sell out the majority by catering to a minority.

 

[iluvaa]

hell yes they swung the vote jager it passed by less then 100. All the early outers in Tulsa were pushing hard for a yes vote so they could get there's

 

[AABNA]

Oldguy, we were told before we left by the TWU before we left in Oct 2012 that the equity stake was from the 2003 concessions and we should get our share. I for one was only 54, had 26 years with AA in title 4 and have been laid off and transferred to four different cities before being recalled back. I voted "no" but took the EO because I would loose on my home plus I would have lost 5 years senority in fleet. Just couldn't do it anymore. Good luck to you and everybody else.