Member Info for M1k3y

Not sure you have anything to lose at this stage JP. At this rate , us claimants could end up litigating against the AG themselves !!! What a mess.

Bird & Bird ranked tier 4 Signature LLP Ranxed Tier 4 Rosenblatt Solicitors ranked tier 7 http://www.legal500.com/firms/2986/5002

I have to say, I find the information contained in the letter from the AG, to be woefully inadequate in it's explanation.

JP, who exactly did you speak to at the AG last month who said everything was on course for an autumn payout ? Clearly the information they gave to you was Hmmmmm.............questionable it seems ?

Thanks JP Have had AG letter but nothing from Signature as yet. Seems to me that the AG are not running things very effectively ? Isn't this the 4th set of layers since they started ? If signature are attacking the AG, then this has to mean that they will be threatening to litigate against the AG for payment of the work they have done to date, including the verification work, so far ? The letter from the AG< does little to explain why they have taken these steps or who the new lawyers are . Interestingly, as far as I know, us members / claimants have not been given any opportunity to have a say in what is happening, changes of lawyers etc etc

Hi Glendo It was JP who spoke to the AG . I haven't heard any more from them but hope things are going ahead as JP has been told.

Thanks JP . Haven't heard anything from the AG since June , so good to hear they have told you things are progressing. Disappointing to read the article though.

The Guardian More Ryanair cancellations likely as pilots reject cash to work on days off https://www.theguardian.com/business/2017/sep/20/more-ryanair-cancellations-likely-as-pilots-reject-offer-to-work-on-days-off

Does anyone know anything about this ? https://www.thetimes.co.uk/article/rbs-shareholders-mull-conflict-of-interest-action-2gptr5qvs

The Independent Renewable jet fuel company Velocys sees shares jump 40% after British Airways deal http://www.independent.co.uk/news/business/news/velocys-renewable-jet-fuel-company-shares-jump-40-british-airways-deal-a7955831.html

I am sure that BA employees and indeed Aer Lingus employees would love to be able to benefit from an incentive plan providing them with 100% to 200% of basic salary. Difficult to justify Walsh's obscene income IMO. The SP in 2005 when Walsh became CEO was circa 5.75 . 12 years later and it is only just hovering above the same level. I might add, that we are still waiting to hear the result of the investigation into the 'system failure' that occurred in May.

Thank you Talygarn Tom it is a shame that the same principles don't apply to IAG's and BA's Management and Directors. You may wish to look at Walsh's remuneration http://www.iairgroup.com/phoenix.zhtml?c=240949&p=irol-govremuneration "Chief Executive Officer of IAG Fixed remuneration is basic salary (2017 level of €1,049,000), plus taxable benefits (2016 actual of €30,000) plus pension related benefits (2016 actual of €263,000). The annual incentive amount is zero at the minimum remuneration level, €1,049,000 at the on-target level (100 per cent of salary), and €2,098,000 at maximum (200 per cent of salary). The long-term incentive amount is zero at the minimum remuneration level, €1,049,000 at the on-target level (half of the face value award of 200 per cent of salary) and €2,098,000 at maximum (200 per cent of salary). All amounts are actually paid in sterling, and are shown here in euro at the €:£ exchange rate of 1.2347.

The Telegraph http://www.telegraph.co.uk/business/2017/09/19/british-airways-plans-move-employees-onto-new-pension-scheme/

Introduction of a new Club World product may help (I hear it is quite nice) but the reduction of the first class seats from 14 to 8 is bound to have an impact I would have thought ?

Given that BA have the majority on the Board of Trustees, do they not shoulder some responsibility for the poor performance of the pension fund ? In addition, why is the finger being pointed at people living longer and bonds delivering poor returns ? Surely it is down to the extremely bad investment decisions that have been made year after year after year by the people who are managing the pension funds ? Why aren't they being held accountable ?

I have to say, even though I am invested, I think the way this company treats it's employees is , frankly , appalling. Sadly, it is typical of a lot of major companies in the UK these days.

The Guardian British Airways risks strike action over plans to curb pension benefits https://www.theguardian.com/business/2017/sep/07/british-airways-naps-pension-retirement

I have no doubt they will make huge profits, which is why I am invested. I find it interesting they are announcing closure of NAPS which has the smaller number of employees in it, as opposed to BARP which has the greater. Is this yet another example of divide and conquer within IAG ? I don't think that BA can devolve itself of responsibility for the poor performance of the Pension scheme, given the pension holidays they have taken and that they hold the majority among the pension trustees. You have to wonder if they ever intended for the scheme to continue , or if their long term strategy was to always close it and create a new, less favourable pension scheme ?

I doubt this will help the SP, at least nit until it has been resolved. I suspect further strike action, which will be protracted but end with NAPS being closed and a new scheme being introduced. I note that it is being reported that BA only wish to close NAPS and not BARP, which, if true , is interesting.

http://www.telegraph.co.uk/business/2017/09/07/unions-hit-thousands-plunged-retirement-uncertainty-british/