Excess BID........(S)
02-21-2009 | 11:47 AM
#21
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Sorry, not really even close. Please read the contract.
02-21-2009 | 11:55 AM
#22
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There are so many people upside down in homes right now FedEx will become a real estate company if they do this. Maybe Obama will save them too.
02-21-2009 | 11:59 AM
#23
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From: 767 FO
I have no idea how any excess bids will play out, nor do I have any inside info or gouge beyond what any of you guys do.
However, in January several pro Instructors and a corporate guy came up on their 3 year service obligation. They were told they would NOT be going to HKG if they came to the line but instead would go to the back of the 727. They were told the reason for that was in the event of a furlough or displacement the company did not want to move them.
I won't speculate on where guys might go yet, but this is a good time to get the contract out and understand what options are available. If you have questions, call the ALPA office and talk to the contract guys. If you don't get the help you need contact your rep and we'll try to get you the straight answers. Again--I'm not trying to blow you off by sending you to experts first, I just want everyone to get the most accurate and complete information. I'm learning more and more about the contract all the time, but I still won't say I am anywhere near an expert.
However, in January several pro Instructors and a corporate guy came up on their 3 year service obligation. They were told they would NOT be going to HKG if they came to the line but instead would go to the back of the 727. They were told the reason for that was in the event of a furlough or displacement the company did not want to move them.
I won't speculate on where guys might go yet, but this is a good time to get the contract out and understand what options are available. If you have questions, call the ALPA office and talk to the contract guys. If you don't get the help you need contact your rep and we'll try to get you the straight answers. Again--I'm not trying to blow you off by sending you to experts first, I just want everyone to get the most accurate and complete information. I'm learning more and more about the contract all the time, but I still won't say I am anywhere near an expert.
02-21-2009 | 12:26 PM
#24
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From: Great White North
Excess, Housing, and a move
...If you have questions, call the ALPA office and talk to the contract guys. If you don't get the help you need contact your rep and we'll try to get you the straight answers. Again--I'm not trying to blow you off by sending you to experts first, I just want everyone to get the most accurate and complete information. I'm learning more and more about the contract all the time, but I still won't say I am anywhere near an expert.
I would like the "contract guys" to put out an informational sheet (a notes, warnings, and cautions bulletin of sorts) about exactly how this works rather than 100 guys calling their office and get 99 different answers. I could at least do some planning and look at options. I've read the contract...it's fact based and "in theory"...but I know there has to be a few people who have done this move package option thing before and sold a house through the company. How did it work? What did the company do?
We know an excess bid(s) is going to happen and many houses will be involved...guys selling under-water homes 'cause they can and guys selling homes because they're displaced and have to...
02-21-2009 | 12:38 PM
#25
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From: Heavily Involved
[QUOTE=Cujo;564240]
CUJO, I agree. ALPA should put out an informational pamphlet, even a flow-chart showing what choices you have. I am sick of the "read your contract" crap. I pay $5,000 a year to get information and guidance, so guide me ALPA.
I'm curious how this works out at Purple; ...quote] We don't know either
I would like the "contract guys" to put out an informational sheet (a notes, warnings, and cautions bulletin of sorts) about exactly how this works rather than 100 guys calling their office and get 99 different answers. I could at least do some planning and look at options. I've read the contract...it's fact based and "in theory"...but I know there has to be a few people who have done this move package option thing before and sold a house through the company. How did it work? What did the company do?
We know an excess bid(s) is going to happen and many houses will be involved...guys selling under-water homes 'cause they can and guys selling homes because they're displaced and have to...
I would like the "contract guys" to put out an informational sheet (a notes, warnings, and cautions bulletin of sorts) about exactly how this works rather than 100 guys calling their office and get 99 different answers. I could at least do some planning and look at options. I've read the contract...it's fact based and "in theory"...but I know there has to be a few people who have done this move package option thing before and sold a house through the company. How did it work? What did the company do?
We know an excess bid(s) is going to happen and many houses will be involved...guys selling under-water homes 'cause they can and guys selling homes because they're displaced and have to...
02-21-2009 | 01:07 PM
#27
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From: Great White North
02-21-2009 | 03:39 PM
#29
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From: MD-11 FO
[quote=Cujo;564240]
Great idea Cujo -- I wouldn't mind selling them my house in KS -- Not as expensive as yours -- they should jump at it! 
The info packet would be great for us non-lawyers.
IF
I'm curious how this works out at Purple; ...quote] We don't know either
I would like the "contract guys" to put out an informational sheet (a notes, warnings, and cautions bulletin of sorts) about exactly how this works rather than 100 guys calling their office and get 99 different answers. I could at least do some planning and look at options. I've read the contract...it's fact based and "in theory"...but I know there has to be a few people who have done this move package option thing before and sold a house through the company. How did it work? What did the company do?
...
I would like the "contract guys" to put out an informational sheet (a notes, warnings, and cautions bulletin of sorts) about exactly how this works rather than 100 guys calling their office and get 99 different answers. I could at least do some planning and look at options. I've read the contract...it's fact based and "in theory"...but I know there has to be a few people who have done this move package option thing before and sold a house through the company. How did it work? What did the company do?
...
The info packet would be great for us non-lawyers.IF
02-21-2009 | 04:01 PM
#30
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From: 767 Cap
Based on the pertinent section of the contract
Section 6 C 11 b.
This plan shall provide two independent, professional appraisals to determine the current market value of the property, which shall become the purchase price of the home. Current market value shall be determined by averaging the 2 appraisals. If, however, the 2 appraisals differ by more than 5% of the lower appraisal, the third party relocation company shall obtain a third appraisal and market value shall then be determined by averaging the 2 closest appraisals. The appraisers shall be selected by the pilot from a list of 5 provided by the Company. The Company shall notify the pilot of the purchase amount, and the pilot shall have 45 days from notification to accept the purchase price. If the pilot accepts that price, the third party company shall purchase the residence at the values established herein and handle all paperwork related to the closing. The pilot and his family must be prepared to vacate their residence within 60 days after accepting the offer.
it looks like if you're upside down on your mortgage, the company buyout won't help you, as it's based on current market value.
Section 6 C 11 b.
This plan shall provide two independent, professional appraisals to determine the current market value of the property, which shall become the purchase price of the home. Current market value shall be determined by averaging the 2 appraisals. If, however, the 2 appraisals differ by more than 5% of the lower appraisal, the third party relocation company shall obtain a third appraisal and market value shall then be determined by averaging the 2 closest appraisals. The appraisers shall be selected by the pilot from a list of 5 provided by the Company. The Company shall notify the pilot of the purchase amount, and the pilot shall have 45 days from notification to accept the purchase price. If the pilot accepts that price, the third party company shall purchase the residence at the values established herein and handle all paperwork related to the closing. The pilot and his family must be prepared to vacate their residence within 60 days after accepting the offer.
it looks like if you're upside down on your mortgage, the company buyout won't help you, as it's based on current market value.
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