What's the word on the equity?

[mike33]

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).

Not at all. It was an example of ideology. There is nothing for the US side to get yet because this all happens before the actual transition. The stock value was created because the two companies created it. Doesn't matter how you slice the pie. Each piece of the pie still tastes the same!

The deal, valued at $11 billion at the time of its unveiling, would give 28 percent of the new airline’s stock to US Airways shareholders.​

The remaining 72 percent would be distributed among unsecured creditors, labor groups, current holders of AMR stock and other stakeholders.​

 

[OldGuy@AA]

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.

Part of the equity is from the medical over charge from years past and you will get that portion. I don't know much else about fleet so I don't what else theirs is based on but you will get some shares. Good luck to you as well. As Spock would say.... Live long and prosper.

 

[Tex-Mech]

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.

I am kind of curious why you would believe that you would get equity in the new American for concessions 10 years earlier that you got stock options for? Also, who told you this?

 

[Jager]

I never believed the TWU accounting of votes on any of the contracts.. The EO probably generated a few yes votes from the ole timers looking to get out... But that contract should have overwhelmingly been voted down by the guys staying on deck.. The fraud that goes on inside the TWU is criminal.. I'm so glad I'm out of that crap.. Hope you guys get the equity pay out soon and is not tied up with TWU BS.... Just glad my pension check shows up on the first of the month..

 

[OldGuy@AA]

I never believed the TWU accounting of votes on any of the contracts.. The EO probably generated a few yes votes from the ole timers looking to get out... But that contract should have overwhelmingly been voted down by the guys staying on deck.. The fraud that goes on inside the TWU is criminal.. I'm so glad I'm out of that crap.. Hope you guys get the equity pay out soon and is not tied up with TWU BS.... Just glad my pension check shows up on the first of the month..

Jager I lift my glass to you and I am happy you are free from all the drama here. I hope you see those pension checks for many years to come.

 

[Tex-Mech]

So I see that Jim Little is trying to overrule the committee and pass out millions to the early outs. Once again the international is trying to flex their muscles and show who is boss.http://www.local591....on 07182013.pdf At least one local president has said screw that. http://www.local591.com/docs/Equity%20Response%20Letter.pdf

 

[CIO]

Do you suppose, Just maybe the Equity committee has not represented ALL the members fairly and has opened the TWU up to a lawsuit? Possibly some of the committee members understood this better then others and the International is giving the committee a possible out?

In Solidarity
CIO

 

[comatose]

Do you suppose, Just maybe the Equity committee has not represented ANY of the members fairly and has opened the TWU up to a lawsuit? Possibly some of the committee members understood this better then others and the International is giving the committee a possible out?

In Solidarity
CIO

Why would they represent any one fairly?
If they did, it would be by accident which is their favorite flavor of incompetence.

 

[Vortilon]

Do you suppose, Just maybe the Equity committee has not represented ALL the members fairly and has opened the TWU up to a lawsuit? Possibly some of the committee members understood this better then others and the International is giving the committee a possible out?

In Solidarity
CIO

Isn't that just like a TWU groupie - wanting to spend our money for us. If its not giving up pay and benefits to keep a few more jobs in Tulsa for a few more months, now its "hey wouldn't be nice to share the equity with the retirees". Tell you what, lets take a vote. Or maybe you can just donate your share - if you feel so strongly about it. I'm done with the TWU and all the forced "non tax deductible charitable contributions" forced upon us to make the TWU International look like some sort of benevolent organization. Of course, all of it at the dues payers expense. Meanwhile the toads in the international are living large.

 

[Tex-Mech]

Do you suppose, Just maybe the Equity committee has not represented ALL the members fairly and has opened the TWU up to a lawsuit? Possibly some of the committee members understood this better then others and the International is giving the committee a possible out?

In Solidarity
CIO

Why doesn't he just come out and make the decision like the international has done with the MOU, the TWU/IAM agreement, recruiting the Teamsters, and the list goes on? Sounds like to me that the committee made a decision that the international didn't want, so now they will turn up the heat. It's the old vote to you get it right theory, even though the internationals version of right is flat out wrong.

 

[TWU informer]

James C. Little sucks and need to be voted out....LOL

 

[Bob Owens]

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.

You were told wrong. The $40k you got was financed with concessions that we will have to live with going forward, the Equity is also linked to the concessions going fwd, it was not based on the value of what was given up in the past, it was based on the value of the concessions going forward. Since you were Title 4 you were not really voluntarily separated, your job was eliminated, check again, I believe they were including those whose title groups were eliminated.

 

[Bob Owens]

So I see that Jim Little is trying to overrule the committee and pass out millions to the early outs. Once again the international is trying to flex their muscles and show who is boss.http://www.local591....on 07182013.pdf At least one local president has said screw that. http://www.local591.com/docs/Equity%20Response%20Letter.pdf

"and were TWU members through some of the darkest times". Thanks to him those times are still ahead of us. Just goes to show how out of touch Little is. Half pay, No Holidays, 5 sick days, no system protection, by far the worst contract in the industry, even worse than some of the non-union deals out there.

 

[Bob Owens]

The EO package had nothing to do with "your" equity share value.. It was a program to reduce manpower so the young employees still maintained employment and were not laid off.. The EO's had worked under the concessionary contract for approximately 10 years or so.. The equity share pay out should be available to the EO's on a percentage basis.. Current employees should receive 100% "piece of the pie" and EO's should be reduced by the percentage of years removed from payroll.. Fair and Equitable..

The EO was about getting the deal to pass. PERIOD. Anything is is propaganda. To get the old guys to screw those whose stayed. Ream even admitted that all he was looking for was 50% plus 1. He lowballed with $40k and it worked. Had it been rejected again they likely would have matched the $75k UAL offered their guys. Didn't care that he would be left with a workforce that was against the deal, now its clear why, he wasn't going to have to deal with that. The fact is that since the deal passed AA has hired hundreds of new mechanics and would have hired more if they could find them. Attrition is a constant, with or without an EO and when the average age is over 50 the rates are even higher. Nobody's job was saved by that contract, that contract gave the company the right to increase the amount they outsource by over 200%, and despite having several years to find places to send the work they still don't outsource all the new contract allows. In fact the company admitted that if they did try and outsource the work that they would pay a premium for those services and would not realize the savings their competitors saw.

 

[enough already]

The definition of crawfishin', by Jim Little:
http://www.twubkfacts.org/home/tabid/1494/ctl/detail/mid/3063/itemid/903/aa-equity-distribution-.aspx