Equity and Prefunding Refund Update

Discussion in 'American Airlines' started by AANOTOK, May 20, 2014.


  1. AANOTOK

    AANOTOK Veteran

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    Any updates...Bob, Weasle, NYer, Realitychck, Overspeed, Zom etc...I do understand this isn't solely about the the TWU or AMFA, but it is something that affects all work groups.
     
    By the way mods, feel free to lock the other two topics that pertain to these two articles.
     
  2. screwed again

    screwed again Member

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    I estimate we will get ALL that is owed to us the 2nd Thursday of never!
     
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  3. WeAAsles

    WeAAsles Veteran

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    AANOTOK: On the prefunding match there is no update. Still waiting for the company and their lawyers to decide what their next move is going to be after they lost the case to modify the benefits at will.

    On the Retiree equity suit. There were 3 lawsuits. 2 lawsuits were rolled into one and one was dismissed. The one that was dismissed included the Local Presidents in the suit. So there is now only one suit and I was told that the case is scheduled to be heard in late August.

    Here's a link to the Judge and his calendar but it only goes as far as July 1 right now.

    http://www.cand.uscourts.gov/who
     
  4. 99Roadstar

    99Roadstar Member

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    I know TWU is keeping track of the accrued interest, and will also show us the formula on how that will be distributed!!!!!!
     
  5. 1AA

    1AA Veteran

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    Yes the interest is accruing since our last and only payout so far. I believe it was January of 2013? We should get that interest, We got the companies interest up to that point and yet the companies portion is still collecting interest. The TWU should be fighting on our behalf for that continually accruing interest that belongs to us. Any input Mr. Overspeed?????????????????
     
  6. dvlhog212

    dvlhog212 Veteran

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    ROTFLMAO, OMG "The twu fighting"? Now that's some funny stuff. We are not getting anything guys. AMFA NOW!!!
     
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  7. WeAAsles

    WeAAsles Veteran

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    The prefunding is part of a trust fund being managed by JP Morgan. It is separate from any company finances and continues to accrue interest on the amount held. When and or if the trust is dissolved all monies contained within will be distributed to the members. It would not be an issue of the TWU having to keep a track of that interest as the fund would be audited before distribution just as the first portion was. That was why there was an up to 120 day stipulation put into the distribution. Time is needed to conduct audits for thousands of people.

    Remember TWU members are not the only one's who have monies in that trust either.
     
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  8. dvlhog212

    dvlhog212 Veteran

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    Huh? What does the prefunding have to do with the 120 day window of the equity distribution? Are you intentionally trying to confuse the 2 ? They are completely separate issues.
     
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  9. WeAAsles

    WeAAsles Veteran

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    No. They are not the same. When you got your portion of the PREFUNDING the funds had a window of "up to" 120 days to be returned to you. The same will apply to the match as well. Again for the purpose of those funds being audited so you get every penny due to you.

    It did not take 120 days for most but they do have that time limit.
     
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  10. dvlhog212

    dvlhog212 Veteran

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    This was brought up again at yesterdays 567 union meeting. Typical of the twu leadership that had no answers. Anyone out there hear any news?
     
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  11. Overspeed

    Overspeed Veteran

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    Only thing I was told by 591 is that GP removed himself from the Equity Committee so he has as much info for us as he gets from the Int'l he claims.
     
    Call ATD?
     
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  12. TWU informer

    TWU informer Veteran

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    Why dont we have detailed understanding and information without calling to ask? What about communication and transparency for ALL of us, instead of the few who will call?
     
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  13. WeAAsles

    WeAAsles Veteran

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    Still no update on what the company's next move is going to be in regards to the retiree medical. There could be negotiations going on behind the scenes between the two parties?

    On the equity as before I was told it was to be heard sometime at the end of August? Here is a link to the Judges calendar but for now it only goes up to August 1st.

    http://www.cand.uscourts.gov/who
     
  14. DallasConehead

    Top Poster Of Month

    Yea. no one knows anything, its the level of service we get these days..
     
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  15. Realityck

    Realityck Veteran

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    Well if you have an inside track with the Judge, why don’t you just call him up this weekend and ask him when he’s going to finalize his decision?  After that, you can call your new AA (ex-USAir) management friends and ask them when they’re going knock off their BS and give the Active AA members what they’re due. We can’t wait to hear what you find out. 
     
  16. TWU informer

    TWU informer Veteran

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    Really?
    So what do we pay 2 hours pay per month for?
    Political Yard signs, Popcorn and Sodas, and Political Rangling to prevent us from choosing our representation of choice?
     
    If we are going to represent ourselves now, then we can just go non-union too.
     
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  17. Realityck

    Realityck Veteran

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    No one has the answer yet, or was my sarcastic comment to DallasConehead above your pay grade?
     
  18. WeAAsles

    WeAAsles Veteran

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    Maybe some people out there would prefer that those of us who follow these issues and at least try to find out as much as we can, no longer answer when they ask the questions?

    Some people appreciate information especially when the person giving it to them isn't obligated to do so.
     
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  19. Vortilon

    Vortilon Veteran

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    RealityChimp, everybody is laughing with you....  Said no one ever.
     
  20. DallasConehead

    Top Poster Of Month

     
    F You D Head!!!  My statement was rhetorical, in case you didn't notice. Whats total BS is we have to come here to get answers from no name bloggers and nothing official from any entity that is actually in a position to have knowledge.  THAT is the level of service we get. If you have some official posting that is fresh other then GPs APFA posting, by all means put it out there. Now,, GO RUN OFF AND DEFEND YOUR iNTERNATIONAL ARSE HOLES TO SOME ONE ELSE.
     
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