More about AIMCo and Pensions in General

Last week, I wrote about AIMCo in the news with their alleged $4B loss. We discussed how it affects our pension and the fact that actions taken by LAPP Administration, despite advice to the contrary from AIMCo, are what protected our Plan. Those are the nuts-and-bolts facts, but today, I’d like to talk a bit…

COVID-19 Update April 27, 2020 Layoff notices

We all know how tough it has been for our front line workers both on the road and in the garage.  We at ATU were able to dodge the bullet of the first round of layoffs from the City almost 2 months ago.  Since then we have been working on prolonging service for as long…

What’s with the AIMCO news regarding our pension?

Many are asking questions about the news, in the Globe and Mail and other media outlets, that AIMCo has suffered a disproportionate loss. Many LAPP members are wondering, rightly, if their pensions are safe. The news was that AIMCo lost a bundle ($4B) on a questionable investment strategy. Here’s AIMCo’s response: “AIMCo is invested across…

COVID-19 Update April 21, 2020

January 07, the Chinese Government announced that they had identified a new Corona Virus, now named COVID-19. They’ve tracked the first known case of it down to December 02, 2019. A murderous, tiny bit that has Humanity on house-arrest. The economy is in tatters, healthcare stressed to the limit, people barred from a simple hug…

COVID-19 Update April 16, 2020

Crazy Day We’ve just come away from a video meeting with members of Executives from across the country. The picture is bleak for many, many locals. Tens of thousands of members have been laid off across the continent. 22 members have died from COVID. It’s uncertain how many members are tested positive. Here in Edmonton,…

COVID-19 Update April 15, 2020

Sisters & Brothers, most of you will already know that a tragedy occurred today. A little after 11 o’clock this morning, a bus driven by an ATU Brother contacted a pedestrian. The pedestrian, a 69-year-old woman, died at the scene. We are deeply saddened – for everybody. Our heartfelt sympathy goes out to the family…