Dear Brothers & Sisters: The TWU Equity Distribution Committee, legal counsel and the Presidents Council met on July 16, 2013 at the ATD office in Hurst, Texas to review the draft Equity Distribution Plan. We discussed in detail the many comments and suggestions received from the TWU membership while visiting the various stations on the…
Tag: Equity- Stock Distribution
Teamsters Negotiate Equity Deals But Members Haven’t Received a Penny
This fall, TWU members will receive an equity stock distribution of considerable value from American Airlines. The Teamsters claim they have negotiated better equity deals at Global Aviation and YRCW (Yellow Freight). Let’s take a closer look. The Teamsters say their equity deals call on the companies to pay administrative costs, and that equity payments…
More on the TWU Equity Distribution – July 8, 2013
The formula for distribution of stock to American’s unsecured creditors, including all labor groups, is complex and a number of members have asked for further clarification. The TWU has negotiated for our members to receive actual stock with considerable value. This stock will be distributed directly to our members as soon as American exits bankruptcy…
An Urgent Message to All TWU 514 Members and Co-Workers at American Airlines in Tulsa
Last week, a video was released with Eric Stone being scripted with misleading information on our Equity stake. We want you to know that the Teamsters are not telling you the truth. On their website, they claim they negotiated better equity deals at Global Aviation and YRCW. They say they made sure that the company…
Equity Distribution Update, July 3, 2013
Dear Brothers & Sisters: The TWU Equity Distribution Committee met on July 2, 2013 at the ATD office in Hurst, Texas to review the draft Power Point presentation (attached) as presented by your TWU Equity Distribution Committee, legal counsel and professional advisors. We discussed, in detail, the many comments and suggestions received from the TWU…
4.8% Equity Facts
Dear Sisters and Brothers, Several members have informed me that IBT organizers are distributing propaganda that claims that the TWU International will withhold equity that is rightfully due to our members. The TWU successfully negotiated the 4.8% equity, and it will be distributed to our members fairly, and with transparency. What seems to upset the…
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…
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
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…
Equity Distribution Update May 24, 2013
Dear Brothers & Sisters: Your TWU Equity Distribution Committee met again on May 23 and 24 at the TWU Headquarters in Washington D.C. to draft the procedures and principles for distribution of shares of Equity in the New American Airlines to eligible American employees represented by the TWU. During this week’s meetings, TWU’s counsel and…