Originally Posted by
Probe
Except the RHA is not controlled by us, it is controlled by a board made up of a few company and ALPA turds, and we don't have a say. Sounds like another A plan type fiasco to me.
understood.
I sent an email to my financial planner to inquire about the VEBA and our contributions to see how that fits into the plan.
I agree, I don't like plans whereby the money isn't totally controlled by the individual plan owner.
If anyone who knows the history of the Continental Pilots Retirement "freeze" and one guy, Jacques Lapointe controlled the investments, then you know the risks of having a single point of failure. I don't know really what our ALPA people can do, or not do except monitor and advise. I am also not sure as to what the qualificaitons are of our ALPA people to even handle this. Maybe need a capital investment firm???
The real issues for me are:
1. Delta pilots said no on the raise. They want more.
2. How do we and others insure the moneys not controlled by the individual plan owners are safe-guarded against either bafoonery, or thievery.
Kind of interesting how Larry Kellner kept Lapointe to work for him at his new Emerald Creek Group. This guy amazes me how he killed our A fund and he not only kept his job, but his boss Kellner keeps him around.