fleet service will tell us what equity stake we get!

[dfw gen]

April 26, 2013

TO: All Members TWU Locals 501 – 591

RE: Equity Distribution

Dear Brothers & Sisters:
Your TWU Equity Committee met yesterday to begin discussions on how
the 4.8% equity stake will be distributed to eligible TWU members at
American Airlines. The Committee, with the assistance of financial advisors
and legal experts, will ensure the plan of distribution is equitable and
maximizes the value for TWU members.

The form of equity distribution (stock or cash) has not been determined as
of this date. We anticipate the distribution will begin around the time that
American exits bankruptcy.

The TWU Equity Committee will address the following issues:

a. Determine the distribution of the equity for each group/classification.
b. Determine eligibility periods for equity distribution.

The Committee is working to draft the TWU Equity Distribution Plan and will
communicate the details as soon as the process has been completed.

The TWU Equity Committee is scheduled to meet again on May 8 – 9 and
May 23 – 24 and will provide member updates on our progress.

Finally, the Committee intends to conduct Local visits to fully brief and
discuss its work with our TWU membership to make sure we have
membership feedback before the Plan is finalized.


Signed,

Committee Members:

Donny Tyndall, President Local 502 John Plowman, President Local 542
Sean Doyle, President Local 512 Darrin Pierce, President Local 513
Sam Cirri, President Local 514 Jim Fudge, President Local 541
Larry Pike, President Local 567 Tom Lee, President Local 568
Gary Peterson, President Local 591

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• epresident of local

 

[dfw gen]

according to my math there are 6 fleet service presidents to 3 maintenance presidents. unless you count the president of local 514 as a fleets service clerk at heart......

TULSA HAVE YOU HAD ENOUGH YET? OR ARE WE GOING TO WAIT UNTIL THERE IS NOTHING LEFT?

 

[Bob Owens]

according to my math there are 6 fleet service presidents to 3 maintenance presidents.

John Plowman represents Dispatchers, not Fleet and Sam is now Title II.
Fudge represents Sim Tech

So its 4 FSC to just 2 AMTs even though the memberships are roughly equal (FSC=8211 T-1=8174, for for 37 more members, one half of one percent more, FSC get 100% more representaives at the table than T-1) . They need to chop two heads from that committee to balance it, (although Stores would still be absent). Tyndal, because he is all thats wrong with the Labor movement and Tom Lee since he was just elected would be my suggestion.

Stores has nobody. So if you want to compare M&R, plus stores thats 8174 (T-1) +1561(T-II) +1148 (T-V) =10,883 with only three reps while T-III with only 8211, over 2600 less members, gets Four.

OK Overpin, whats the rationale behind this?

 

[enough already]

One would hope that some sort of real financial people; accountants and lawyers will be consulted. How in the world would these guys know how to FAIRLY distribute this equity?

 

[Bob Owens]

One would hope that some sort of real financial people; accountants and lawyers will be consulted. How in the world would these guys know how to FAIRLY distribute this equity?

In reality this committee, just like every other committee under the TWU/AA system has no real say. Just like the other committees related to language the ATD picked who is on it. The chairman, some appointed ATD official, will simply have them run laps until they agree to what the ATD already decided, just like the contracts. If they don't agree to what the ATD wants then the ATD will try and get the membership to blame the committee. The goal as always is for the ATD to get AA whatever they want and turn around and tell the members to blame the committee of their peers and not the International. Make no mistake, whatever the result is has already been determined by the ATD. Four to two, you can bet there is a reason for the disparity. My guess is the committee will try and put in a penalty if M&R decide to leave , Donny Tyndall will make the motion and the International will try and claim that they had nothing to do with it.

Funny how the International has no problem taking away profit sharing, but wants to hide its intentions on distribution of the equity stake on a committee it stacked with FSCs.

If anything the only group that has a basis for a larger claim would be AMTs. Our standing amongst our peers is far below industry standards, some of these groups received raises over the last four years prior to BK and even after BK still are pretty close to their peers, AMTs did not. So what does the international do? They stack the committee with non-AMTs and give disproportional representation to one of the groups that fared pretty well compared to their peers.

 

[Bob Owens]

While Plowman and Fudge are good union men its not right that Stores with over 1100 members goes without anybody from Stores.

So Fleet with 8211 gets Four, Title 1 with 37 less only gets two, Tile II with 1561 gets one, Dispatch with 171 gets one, Sim Techs with 80 gets one and Stores with 1148 gets ZERO

Fleet gets four while stores gets Zero.