Originally Posted by
captnate702
I'm fine with a war chest as well, but at what point is it enough? $30m? $50m?
The fact that the war chest has grown to $10m so quickly is pretty remarkable considering our latest LM-2 Annual Report showed $6.084m in cash on hand as of 12/31/21. Again not opposed to funding the union, but the additional assessment was sold to us as a temporary assessment to build a war chest for arbitrations, etc. $10m is a lot of money for attorney's fees...
I came in after the temporary assessment so I can't say why they were levied initially.
But saying that, attorneys are expensive. Good and experienced attorneys in RLA are very expensive. I'd rather have too much saved up instead of not enough. And that's only one potential expense we may have to pay out for.
In case you are wondering, ALPA has $8,000 per member in assets on their last LM-2 form. That would put us at $8 mil for our pilot group at the same ratio, but we have none of the added resources of locals having extra assets to work with or extra redundancy by working for multiple airlines.