I do find it ironic that the same advisers who were OK with the distribution method on the CAL side are now saying to ALPA National that there could be a problem to the method used. Wasn't this what the 5% hold back was supposed to be out??
Mr. Moak excepts (actually, it's ACCEPTS) that certain criticism comes with the job. That's good to know because they are supposed to be fighting for us to get us our money as fast as possible...especially since it is well past-due. Now it just sits in the company coffers earning interest. Which brings up another point...
Nowhere did Jay indicate that ALPA National has the money and they are holding on to it. In the original blastmail on Friday he clearly stated that ALPA National has refused to all the COMPANY to distribute the money. That's pretty clear who has the money: UCH, Inc. Though, I just flew with a captain who was ranting that the company gave us $400 million for signing-bonuses and that ALPA National has been holding onto the money this entire time. I even asked where he got this information. He said when we agreed to the dollar figure the company handed over the money and reported it as a special charge in Q3. Clearly he didn't understand the difference between putting the money aside, taking a charge and actually paying it out.