Equity and Prefunding Refund Update

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


  1. bob@las-AA

    bob@las-AA Veteran

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    You should view that video one more time. I give you a second chance.
     
  2. bob@las-AA

    bob@las-AA Veteran

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    #1062 bob@las-AA, Dec 23, 2016
    Last edited: Dec 23, 2016
    And just what will it be, you think you have all the answers so I'm asking.
     
  3. NYer

    NYer Veteran

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    #1063 NYer, Dec 23, 2016
    Last edited: Dec 23, 2016
    It will be substantially lower than 4%, won't be surprised if it is below 1%.

    There are too many variables to offer a guesstimate that would fit everyone reading these pages.
     
  4. WeAAsles

    WeAAsles Veteran

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    #1064 WeAAsles, Dec 23, 2016
    Last edited: Dec 23, 2016

    Bob even though NYer would never show the integrity to agree with me he is right on this.

    4% of what's being currently held would amount to 3.2 Million. For a case like ours which is not a celebrity criminal proceeding there's no way a lawyer could reach that fee for a defense with billable hours.

    Besides the EBO people would only have been entitled to what the share value was when it was granted and not any Capital gains. The share price was in the low $20 range when it was given and the TWU divested those shares at around $46 per share.

    The other disbursements that will come out of the held fund will be for management of the fund and compensation back to the Locals for the cost of the roadshow to explain the equity.

    When it's all over the TWU will put out a full accounting of the costs.
     
  5. NYer

    NYer Veteran

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    Watched the video in real time and have been paying attention to this entire process since Day 1.
     
  6. WeAAsles

    WeAAsles Veteran

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    If there's 80 Million in the fund I highly doubt we're looking at anywhere near $800,000 in Legal fees either.
     
  7. bigjets

    bigjets Veteran

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    It's typical the IGM mechs who voted in the B scale, voted in 2003 to protect their retiree medical and pension, voted away everything gave themselves $40k, then turn around and sued the TWU for our equaity.

    Of course the lawyers make our better then any of us. The last parting shot from the IGM generation.
     
  8. AANOTOK

    AANOTOK Veteran

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    I love when conversations are courteous and somewhat informative/fruitful...IMO.
     
  9. WeAAsles

    WeAAsles Veteran

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    Well from what I was told by one of the "people" who was part of putting the class action suit together they had to shell out of their own pockets $5000.00 just to start the suit.

    Now if there's any consolation since it's dragged on and they also filed the appeal and the Lawyer pled his case to that court, they're out a lot more since that initial 5k?

    They have to be out quite a lot more by now because no way was the Lawyer going to take this dud of a case on a contingency basis.

    I'm sure the Lawyer told them before they filed the appeal "Ok but I'm going to need $$?"
     
    • Agree Agree x 1
  10. WeAAsles

    WeAAsles Veteran

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    My new Mustang has really mellowed me out a lot.
     
  11. bigjets

    bigjets Veteran

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    Thank you, that makes me feel better.
     
  12. bob@las-AA

    bob@las-AA Veteran

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    What's the nut on the a month.
     
  13. WeAAsles

    WeAAsles Veteran

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    Need to write that one again Bob? SMH?
     
  14. bob@las-AA

    bob@las-AA Veteran

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    What's the payment per month

    Your right it did look kind a funny.
     
  15. WeAAsles

    WeAAsles Veteran

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    Bob you're asking me very personal financial information there?

    Just kidding. I don't care. Car was 25k, I put 8K down for $260.00 per month, 6 years. Will probably pay it off on the 5th year though, trade it in and upgrade to the newest model.
     
  16. bob@las-AA

    bob@las-AA Veteran

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    Good for you, I'm guessing love it, Enjoy. Before I make a move on a up-grade car...I think i might take a back seat and stretch it out for a year or two, just to see what happens. The Volvo I want is just out of reach for me right now.
     
  17. AANOTOK

    AANOTOK Veteran

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    I see cases being decided that were submitted and argued after the Equity case. I just think the longer this takes, the possibility grows of the early outs getting something...imo


    ARGUED AND SUBMITTED TO DIARMUID F. O'SCANNLAIN, RONALD M. GOULD and MILAN D. SMITH, JR.. [10231756] [15-15229, 15-15529] (DO) [Entered: 12/13/2016 03:32 PM]
     
    • Agree Agree x 1
  18. WeAAsles

    WeAAsles Veteran

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    I'm ready to shoot another crow on this if I have to but I still say.

    "They're going to lose"
     
  19. OldGuy@AA

    OldGuy@AA Veteran

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    I concur buddy. Seems to be an easy decision so we must wonder why it is taking this long. And if they rule in favor of some payment to this guy the rest of the class action gets filed again and we go through it all over. We'll never see our money then.
     
  20. Talos

    Talos Advanced

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    I have a hard time believing they will get anything. Their lawyer didn't make any points that would turn the case their way. I was under the understanding that they had ruled against the early out peoples case with prejudice, and that the only way to change the ruling was by proving the previous judges were inept. I got that from a union rep. If they get anything it would be due to a grave error by the union leadership at that time. I just don't see it.
     

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