Federal District Court Judge Vince Chhabria has issued his decision on the TWU motion to dismiss the complaint in the Equity Distribution lawsuit and on its motion for summary judgment in the case. The motion for summary judgment argued that plaintiff early-outs and stand-insteads had failed to exhaust their internal union remedies prior to filing…
Tag: Equity- Stock Distribution
Letter from Sean Doyle, RE: Update Regarding Disputed Claims
American plans to make a distribution of shares to unsecured creditors from its Disputed Claims Reserve (DCR) on July 1. The Disputed Claims reserve holds shares set aside for resolution of certain claims in the bankruptcy proceedings. When American prevails or settles claims, shares initially held aside for those claims can be distributed. However, the…
757 AIRFRAME OVERHAUL GRIEVANCE
The arbitrator’s awards regarding eligibility for participation in the distribution of equity related to the 757 overhaul outsourcing grievance held that because 757 airframe overhaul were done, or could have been done, at Tulsa, AFW and DWH, employees at those bases who worked on or in direct support of airframe overhaul were eligible to participate…
Final Days to Appeal Equity Distribution- Deadline May 9th 2014
All members eligible for equity distribution have the right to appeal their number of shares to the TWU Equity Distribution Appeals Committee. All appeals must be submitted before May 9, 2014. Click AA Equity Appeals Form to download the appeal form for employees of American Airlines. The TWU Equity Distribution Appeals Committee will make every effort to…
514 – What’s on the plate
Judge Lane Judge Lane denied the company’s motion for summary judgment on their right to terminate the retiree medical plan. We have given the summary to our attorneys for their interpretation. MORE HERE Day 120 Equity Distribution Letter from Garry Drummond – April 8th 2014 was the Day 120 Distribution of Equity Day 120, Equity…
NOTICE: 757 Equity Distribution Update
The 757 Equity Distribution has been placed in your Computershare Account. If you find that the distribution has not been placed in your account. Take a moment and fill out an Equity Appeal Form (Below) and mail it in. We have 30 days to get this done. Also we are asking that you please contact…
757 Grievance Equity Distribution
Today the TWU distributed the 757 grievance portion of our equity shares into our Computershare account. The total number of shares distributed to Eligible Members was based on straight time “All-In” rate on September 29, 2011 (Date of the outsourcing notice). Thanks, Dale Danker President TWU local 514 Other Items of interest: You Received your shares. Now What?…
Equity Calculator
UpDate: The original calculator has been revised to include approximately 189,000 additional shares which were distributed to members from the reserve in order to maintain (and not exceed)the targeted 14% reserve. Link to JP Morgan site HERE
Day 120, Equity Distribution. Note from President Danker
To All, Tomorrow as reported by the company, our “Day 120” equity shares will be placed in our computershare accounts. We will also be given a calculator by the International ATD that should let us determine what our total Equity distribution will be. It will be posted on our website and emailed to those on…
Equity – TWU DAY 120 COMMUNICATION, From Garry Drummond, Director Air Transport Division
MEMORANDUM Once the market closes today, American will begin the process of making the day 120 distribution. As you know, since the number of shares allocated to TWU is a percentage (4.8%) of the shares allocated to all unsecured creditors, and since the number of shares allocated to the unsecured creditors decrease as the stock…