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…
Tag: Equity- Stock Distribution
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…
Letter from TWU President James C. Little Re: TWU- Equity stake, Dated 5-20-2013
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…
AA/TWU Equity Distribution Update May 9, 2013
Your TWU Equity Distribution Committee met this week at the International Union’s offices in Washington D.C. to continue discussions on the 4.8% equity stake distribution for all eligible TWU members at American Airlines. The Committee, with the assistance of financial advisors and legal experts, has been working to ensure the plan of distribution is equitable…
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…
TWU Follow Up Questions and Answers
Does the current MOU eliminate the former “me too” language for comparison of wages, benefits and working conditions for non-union hourly and the non-union salaried and management employees of the Company for all “me too” purposes? The “me too” was only with AA. If AA remained stand alone the “me too” would stay in effect through its defined…
Question: IBT Letter Response on 4.8% Equity – 2-11-2013
QUESTION: The IBT has said, in a letter dated February 6, 2012, that “Under the Settlement Agreement that ended American Airlines’ concessionary negotiations with the TWU, American mechanics and related employees are to receive 4.8 percent of the total equity in American….that is allotted to a certain class of unsecured creditors.” They further state that…
Letter to members from ATD Deputy Director R. Gless – September 27, 2012
Please see attached letter from ATD Deputy Director R. Gless concerning LBO Agreement, The IBT and AMFA and the 4.8% Equity: HERE