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The TWU’s Equity Stake Screw-Up

Remember all those grand claims that we’d be getting $30,000 to $50,000 from the 4.8 percent equity stake? Not even close! In the best case scenario, we’ll be getting no more than $16,500. And guess who’s going to walk away with 5 percent of our equity – our Totally Worthless Union. That’s millions of dollars that they are pocketing!

Click here to read the flier about TWU’s equity stake screw-up.

After all the big promises TWU made to us, it turns out the equity stake is fraught with complex conditions and limitations. The 5 percent that TWU is taking for itself for “administrative fees” is outrageous. By contrast, when the Teamsters negotiated equity for its members at Global Aviation, they made sure the company paid for the cost of the equity distribution instead of taking it out of the workers’ pockets.

Even the best-case-scenario $16,500 doesn’t come close to covering our loss of pay, frozen pension and other losses that took place during concessionary bargaining and bankruptcy. And TWU’s distribution scheme for the equity stake is ridiculous. A number of grievances are included in the equity distribution which will affect the amount we get, but it’s not clear who’s included in those grievances. There’s also seniority and base rate of pay that will impact that value, and we have no idea how this money will be taxed.

This equity stake was supposed to be the one good thing we got for all the concessions we took. That silver lining is turning out to be paper thin. The TWU has failed us yet again.

Check out the flier and share it with your coworkers.

With the TEAMSTERS We Will WIN!

For more information, visit the AA Mechanics for Teamsters website or call the hotline at 877-589-4951.