Equity and Prefunding Refund Update

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


  1. Kato86

    Kato86 Newbie

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    Free yourselves from this pipe dream gentleman. Like the equity shares the TWU stole, we will never see this money
     
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  2. bob@las-AA

    bob@las-AA Veteran

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    Your a jack hole, the union didn't steal anything, it's in court on a final appeal. Educate yourself.
     
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  3. AANOTOK

    AANOTOK Veteran

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    Oral Arguments

     
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  4. Talos

    Talos Advanced

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    Thanks for posting that video. I think the Demetris case for equity is doomed. I don't know how long the judges will take to render a decision but hope the case is done with soon.
     
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  5. AANOTOK

    AANOTOK Veteran

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    I have to admit, once she got warmed up, the TWU Attorney did an outstanding job.
    I agree, I don't think the Panel heard anything that would have them over turn the lower courts decision. I also think it was a mistake to throw in it being a "political move" by the Plaintiffs Attorney.
     
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  6. WeAAsles

    WeAAsles Veteran

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    I can't believe we now have video proof that the horrible TWU monsters are actually fighting to get us our money.

    I'm sure the rock throwers will be here soon to gripe and grouse.
     
  7. WeAAsles

    WeAAsles Veteran

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    She did seem to start off slow and somewhat unsure but after awhile she warmed up quite well.

    The Attorney for the plaintiffs was lying in the beginning part although it doesn't matter I'm sure because the court will have all of that information. And I agree. There was zero proof of any Political motivation and his ending plea came across as emotional which shouldn't have any bearing on the court.

    The EBO people again are going to find out that they were financially bamboozled by this Lawyer into taking on a case that never was. And why the original court denied their claim "with prejudice"

    BTW AANOTOK don't know who gave you or where you found the video but thanks. I shared it on FB.
     
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  8. AANOTOK

    AANOTOK Veteran

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    No problem W, Facebook addition is fine. I just happened to watch the live stream, then noticed it was carried live on youtube. Of course then they have a record of it. I also saw where the TWU has since sent out the video to the members.

    By the way, what Facebook did you post it on?
     
  9. WeAAsles

    WeAAsles Veteran

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    I posted it on my page and two separate group pages. Had a little bit of conversation on it but unfortunately and honestly I'm not sure many understand a lot of that Legal mumbo jumbo?

    Frankly the Attorney for the plaintiffs was losing me in the first part of his presentation. I understood our Lawyer very well though.
     
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  10. bob@las-AA

    bob@las-AA Veteran

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    Ultimately, this is how I think the defendants, "the membership", will win this case. The plaintiffs sued claiming misrepresentation by the TWU, and that the TWU excluded the defendants from the equity because of flexing of the TWU's political muscles. The defendants reject any such claim by the plaintiffs and stated that the TWU had determined, in the process of qualifying members for eligibility, the equity was for the future sacrifices of those who stayed after bankruptcy and not for those who made a sacrifice in the past. Those who made a choice to exit the company were compensated, giving the equity to them would allow then to double dip.
     
  11. NYer

    NYer Veteran

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    The argument for the plaintiffs is not viable because the award of the Equity from the Creditors and the Judge Lane was for the "prospective" losses incurred due to the CBA coming out of bankruptcy.

    The TWU did not make the decision on the "prospective" piece of the award of the Equity. Therefore they cannot be held responsible as alleged by the lawsuit.
     
  12. DallasConehead

    DallasConehead Veteran

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    Anybody have a guesstimate on what this equity is worth to each member?
     
  13. AANOTOK

    AANOTOK Veteran

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    Not sure as a mechanic, and I have no idea as a clerk, but I have been told by a union rep that for fleet
    it was "approximately" $4,000. But I honestly don't know where he gets that fiqure.
    Edit: That of course is if we win the case and get the full amount (less 4% for Attorneys)
     
  14. bob@las-AA

    bob@las-AA Veteran

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    The MX group would get a higher amount because of the 757 maintenance outsourcing, but the attorney fees would be 33% if we win. And for some union nit-wit to tell you our payout would be about $4k should get a slap in the puss.
     
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  15. AANOTOK

    AANOTOK Veteran

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    I always held the belief it would be about $1200. Not sure where you get 33% attorney fees. Per the Judge, they are capped at 4% I do believe. If I may ask Bob, what is your educated guess or as Conehead said guesstimate?
     
  16. Glenn Quagmire

    Glenn Quagmire Veteran

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    This is not a personal injury case. 33%?
     
  17. bob@las-AA

    bob@las-AA Veteran

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    If the Judge said 4%, then that's a relief, but to guess......., all the equity was given to in shares according to our individual years of service. Since the shares were sold and converted to cash. It's hard to say, but I will work on a formula for that, just for entertainment purposes only. But for a clerk with 25 years your $1200 sounds right.
     
  18. bigjets

    bigjets Veteran

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    Thx for posting video, I find the TWU lawyer impressive, I will say I'm biased against the other lawyer.

    Here's something unpopular, the TWU was in a tough spot in 2003 and 2012, what union official wants to be responsible for massive amounts of job loss by being inflexible to the company that has all the power and the laws on their side. Think IAM with Eastern, AMFA at NWA.
     
  19. NYer

    NYer Veteran

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    The attorney fees will not be anywhere near 4%.
     
  20. AANOTOK

    AANOTOK Veteran

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    And then I'm assuming from your comment, they will be well below the 4%, especially since the TWU put out the memo stating they were capped at 4%...and while your at it, how about a guesstimate on distribution amount.
     

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