DELTA JEDC memo

clippyrip

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I just got the letter from ALPA about the Joint Equity Distribution and I'm still a little fuzzy on one thing....

If they decide not to sell the stock and give it back to us as Delta stock, they say that goes into our individual retirement accounts. If so, how do we sell it from there and turn it into cash for our retirement account? Or is it that our retirement portfolio will include those shares of Delta stock?


Personally, I would like the shares sent to my house and I will sell them when I'm good and ready. On top of that, I want the cash.
 

Sedona16

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Personally, I would like the shares sent to my house and I will sell them when I'm good and ready. On top of that, I want the cash.
Here Here. Just distribute the stock already. They blew the opportunity to sell up around 13. Also I noticed the "middle man" is already taking 2% for their what so far amounts to crappy and indecisive services. Too many people "in charge" with hands in the pot me thinks.
 
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KCPilot

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I read that memo too and was a bit confused. It almost looks like they are try to make some money off our stock before they give it to us. It still confuses me why the other employees got it back in Nov and here it is Feb and the pilots still have nothing....Please someone explain?

Like clip said, I'll sell it when I'm ready and we missed it at $13 as Sedona stated! Just give me my stock already!
 

clippyrip

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Also I noticed the "middle man" is already taking 2% for their what so far amounts to crappy and indecisive services.
Wait a minute...if they decide that the market is "not right" for sale and give the shares back to us, they still get their 2%. Which means they got 2% for doing nothing.

I can do that and I'll only charge 1%.
 

dalad

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I just got the letter from ALPA about the Joint Equity Distribution and I'm still a little fuzzy on one thing....

If they decide not to sell the stock and give it back to us as Delta stock, they say that goes into our individual retirement accounts. If so, how do we sell it from there and turn it into cash for our retirement account? Or is it that our retirement portfolio will include those shares of Delta stock?


Personally, I would like the shares sent to my house and I will sell them when I'm good and ready. On top of that, I want the cash.
Everybody needs to jump down their LEC reps throats about this. I'm sick of ALPA deciding what to do with what is mine!
 

Diesel-9

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Doubt there was anyone to sell this large number of shares to in this enviornment. This stock has a strong upside in the next two years. Most of the guys I know want the shares to hold. Have seen many targets of $18-25 a share in the next year or two with oil staying below $80.
 

RedRum

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Doubt there was anyone to sell this large number of shares to in this enviornment. This stock has a strong upside in the next two years. Most of the guys I know want the shares to hold. Have seen many targets of $18-25 a share in the next year or two with oil staying below $80.

I totally agree with you. At this point the stock will be better to hang on to and go long. Hoewever, I think there is a lot of creedence to the argument that ALPA should not be playing broker with our allotments.

ALPA still hasn't settled the FM II and FM III cases for NWA pilots. They have been promising a payout for over ayear and a half now. Strangely enough, this sounds like the same situation where ALPA feels like they have the know how to handle our finances which couldn't be further from the truth.

Tired of the middle man.
 

tblosser

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I just got the letter from ALPA about the Joint Equity Distribution and I'm still a little fuzzy on one thing....

If they decide not to sell the stock and give it back to us as Delta stock, they say that goes into our individual retirement accounts. If so, how do we sell it from there and turn it into cash for our retirement account? Or is it that our retirement portfolio will include those shares of Delta stock?


Personally, I would like the shares sent to my house and I will sell them when I'm good and ready. On top of that, I want the cash.
[FONT=&quot]If the proceeds or the shares go into your qualified plan the go in as employer contributions and you can't have the cash or the interest earned on the cash. The only way you can withdraw the money from the plan is if you have a change in job status i.e. furloughed, medical retirement etc. [/FONT]
 

FDJ2

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Also I noticed the "middle man" is already taking 2% for their what so far amounts to crappy and indecisive services.
Athena Advisory Group is not getting 2%. The 2% hold back is primarily for data eror and corrections, not Athena. Most of that 2% will eventually be distributed to the pilots, some of it will however be used to pay Athena.
 

clippyrip

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[FONT=&quot]The only way you can withdraw the money from the plan is if you have a change in job status i.e. furloughed, medical retirement etc. [/FONT]
Isn't there something about buying your primary residence as a reason to pull out as well?

I don't want to get furloughed but the furlough clause might just come in handy..... I'll get my Delta stock cash in hand, Captain a brand new jet, look at young(er) flight attendants all while my longevity keeps on ticking at Big D. Just looking at the bright side if it comes to pass....
 

tblosser

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Isn't there something about buying your primary residence as a reason to pull out as well?

I don't want to get furloughed but the furlough clause might just come in handy..... I'll get my Delta stock cash in hand, Captain a brand new jet, look at young(er) flight attendants all while my longevity keeps on ticking at Big D. Just looking at the bright side if it comes to pass....
Could be...I didn't ask.
 

DTW320

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You can take it out any time you want. You'll pay tax on it plus a 10% penalty. But you CAN take it out. The 10% penalty is even tax deductible.
 

tblosser

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You can take it out any time you want. You'll pay tax on it plus a 10% penalty. But you CAN take it out. The 10% penalty is even tax deductible.

Not according to Fidelity. The only money you can take out is what you, not the employer, put in and what you have earned on that money. It was set up this way by Delta. The NW plan may be different.
 

DYLIN

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I don't want to get furloughed but the furlough clause might just come in handy..... I'll get my Delta stock cash in hand, Captain a brand new jet, look at young(er) flight attendants all while my longevity keeps on ticking at Big D. Just looking at the bright side if it comes to pass....
You'll have to answer some things for me, please:

Captain a brand new jet

Where, Compass? If Delta furloughed 1000 pilots, only 160 of them would hold Compass captain, and 120 of those would be awarded 11-12 days off. The average days off at Compass is between 12.0 and 12.5, I say again, the average of all 320 pilots there is within that range.

look at young(er) flight attendants

Again: where, Compass?

Not trying to pick a fight here but it seems a reality check is in order.
 

DTW320

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Not according to Fidelity. The only money you can take out is what you, not the employer, put in and what you have earned on that money. It was set up this way by Delta. The NW plan may be different.
No, you are correct. It depends on the plan (employer) when it comes to withdrawing employer contributions, which this equity share will be. I was speaking more generically about money in your 401k in general. Generally speaking (don't know the DAL specifics) you can withdraw the money that you contributed, plus earnings. If a DAL pilot really wants to get their hands on the $ from this equity distribution (after it actually happens of course...whenever that may be) they could simply take out an equivalent amount from the 401k, assuming they had at least that much in there from their own contributions. They would pay tax plus 10% penalty but would have effectively taken out the value of their equity distribution.
 

Truckdriver

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No, you are correct. It depends on the plan (employer) when it comes to withdrawing employer contributions, which this equity share will be. I was speaking more generically about money in your 401k in general. Generally speaking (don't know the DAL specifics) you can withdraw the money that you contributed, plus earnings. If a DAL pilot really wants to get their hands on the $ from this equity distribution (after it actually happens of course...whenever that may be) they could simply take out an equivalent amount from the 401k, assuming they had at least that much in there from their own contributions. They would pay tax plus 10% penalty but would have effectively taken out the value of their equity distribution.
I don't think you pay a penalty on your own contributions, just the interest that those contributions may have earned. Of course you have to pay taxes on all of it, but I think the 10% only applies to the growth of your contributions. Could be wrong though. At Delta you can't touch the employer contributions until you retire, quit, or get fired.
 

Scope out RJ's

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You'll have to answer some things for me, please:

Captain a brand new jet

Where, Compass? If Delta furloughed 1000 pilots, only 160 of them would hold Compass captain, and 120 of those would be awarded 11-12 days off. The average days off at Compass is between 12.0 and 12.5, I say again, the average of all 320 pilots there is within that range.

look at young(er) flight attendants

Again: where, Compass?

Not trying to pick a fight here but it seems a reality check is in order.
Actually, its a mentality check. clippyrip is a moron, hence:

This message is hidden because clippyrip is on your *********************************** list.
Unfortunately when you quote the idiot, I can see what he's saying.
By the way, he's a PFE (permanent flight engineer).
 

hockeypilot44

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Actually, its a mentality check. clippyrip is a moron, hence:


Unfortunately when you quote the idiot, I can see what he's saying.
By the way, he's a PFE (permanent flight engineer).

I know clippyrip. He's not a PFE. He just chooses to be a flight engineer to be based in ANC.
 

clippyrip

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Scope out RJ's This message is hidden because Scope out RJ's is on your ignore list.

Sweeter than yoohoo.

I'm not sure what you said but I'm betting it was highly intelligent and very positive.
 
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