How long will this take to get?

 

F. For the $150M Amount, a Payment Date will occur no later than thirty (30) days after the later of the following: 1) the SLI Date, and 2) the date ALPA provides written authorization to the Company pursuant to the requirements of the ALPA Policy which will include a list of the pilots and the dollar amounts (of the $150M Amount) to be paid to or on behalf of pilots on the list

 

And it will come in four tranches. Payment dates will be determined by the average solar cycle which is currently 11 years in length. So in 44 years you will have all your money.

 

Just heard from someone sitting in the MEC meeting that the target date is 9/20. The limiting factor is UAL payroll. Imagine that.

 

Well it depends. Now we have to figure in the furloughed guys and what their relative earnings would have been if they were never furloughed and that will be divided up into 1/3 per list. Sent to arbitrators until a binding tranche decision on how many tranches will be tranched will be made. Take your expected relative bonus minus the 5% holdback and then minus another 5% devils cut (ALPA). There will be a 5 year fence on all direct deposits so if you have that option it's going to be a while.

Once grand wizard Moak comes out of hiding if he sees his shadow there will be another 30 day extension on the extension. If he doesn't see his shadow then he will sign a release of all funds.

Now if per arbitrator ruling the furloughed guys weren't really furloughed just didn't have anywhere to fly. But they were still employed. So They need to be made whole again. You will have to forfeit most if not all of your bonus so they can have a bonus similar if not greater to yours even though you have been working and they haven't.

It's just fair

 

Because they couldnt have planned ahead knowing this was coming out tomorrow...nope.

 

MEC Update 28 August, 2015

In September 2013, the ALPA Executive Council passed a resolution requiring the continuation of the retro pay holdback, which was 5% of the first payment. This action was in accordance with Section 40.3.J.10.c. of the ALPA Administrative Manual. The Executive Council took this action because of the risks in a lawsuit and administrative charges brought by pilots against ALPA and the Company concerning one aspect of the allocation by both pre-merger MECs. The ALPA Executive Council recently discussed the holdback and concluded that circumstances had not changed to justify changing it at this time as litigation over the retro payment is still pending.

Lastly, you should know that the Company, not ALPA, maintains these holdback funds for future distribution, without accrual of interest. The Company has demanded that this holdback be maintained because it is also a defendant in the lawsuits.

 

Once the remaining cases are finally dismissed, can we turn around and sue the litigants for our lost interest on the locked up funds?

 

Yes, but only for 95% of the 5%. 5% of the 95% of the original 5% will be held back for the litigious minded.

 

Well played!