Just a short note to let you know of any Bankruptcy news…which we are sorry to report is zilch. As far we can tell, the 1114 Retiree Committee has not held any meetings for a while. We assume they are awaiting the next ruling from the bankruptcy judge, Judge Lane. The next scheduled 1113 hearing…
Category: Bankruptcy
TWU Acted to Oust Tom Horton — IBT No-Show at Bankruptcy Court
You may have seen some electioneering from the Teamsters lately regarding Tom Horton’s compensation and the bankruptcy court. Let’s be perfectly clear about what is really going on here: Not only is the TWU not supportive of excessive bonuses and compensation for Tom Horton – we worked with the other unions at American…
AA Bankruptcy and Individual Claims
A question was sent by Bobby Gless, TWU-ATD to Paul Kizel of Lowenstein Sandler LLP addressing Individual Claims. Brothers & Sisters, Some members filed individual claims for grievances (or other claims). Some of those individual claims are on the docket for next week and AA is looking to deny those claims. These should…
Halt the $20 million severance package to AMR CEO Tom Horton
The American Airlines bankruptcy has resulted in major layoffs, steep pay-cuts, drastic work-rule changes and severe reductions in medical benefits to current employees and retirees. Yet, Tom Horton, American’s CEO Tom is set to receive a $20 million+ severance package. Bankruptcy reforms were put into place to prevent such excess following the Enron scandal and…
TWU Equity Distribution Informational Meeting – Hand Out
Introduction: As part of the resolution of the American Airlines bankruptcy, TWU negotiated a 4.8% share of the total claims recovered by general unsecured creditors. The post-bankruptcy Plan of Reorganization provides that unsecured creditors will receive their recovery in the form of new American Airlines Group (AAG) common stock. So TWU will receive 4.8% of…
TAA Program Benefits and The Health Coverage Tax Credit (HCTC) Program
Below I have posted what the TAA information that is available on the Dept. of Labors Website, and what the IRS has as a tax credit. TAA Program Benefits and Services under the 2011 Amendments (Current Law) On October 21, 2011, President Obama signed the Trade Adjustment Assistance (TAA) Extension Act of 2011, which changes…
Meeting Notice
TWU Equity Distribution Plan Presentation Where: TWU 514 Union Hall, 11945 East Pine Street, Tulsa Ok. When: Thursday, June 13, 2013 Times: 7:15 AM | 11:45 AM | 3:45 PM Meeting Notice- TWU Equity Distribution in PDF
As American Airlines merger date nears, questions abound (Dallas Morning News- 6-3-2013)
SOURCE, Dallas Morning News Tom Fox/Staff Photographer Wil the new American Airlines design remain as it is on fresly painted planes? An American exec says yes, but Doug Parker, who will be CEO of the combined company, doesn’t seem 100 percent. By TERRY MAXON Staff Writer tmaxon@dallasnews.com Published: 03 June 2013 11:20 PM Updated: 03 June 2013…
Equity Distribution Update, May 30, 2013
Dear Brothers & Sisters: The AA Presidents Council met on May 29 & 30, 2013 at the ATD office in Hurst, Texas to review the Power Point presentation and the preliminary plan document as presented by your TWU Equity Distribution Committee and legal counsel. We approved the Equity Distribution Plan and revised the presentation that…
AA Bankruptcy Court Update May 30, 2013
The Bankruptcy Court today held a hearing on the Debtors’ motion seeking entry of an order approving the memoranda of understanding (the “MOU”s) among certain of the Debtors, US Airways, Inc. and any successor (“US Airways”) and the unions representing the Debtors’ and US Airways’ pilots and certain of the Debtors, US Airways and the…