dvalleyjim
Well-Known Member
Well, actually, I maybe a bumpkin
Peak advice.
- Thread starter gixxer squid
- Start date
No you're not a bumpkin. The information you are providing is of critcal importance given that the structure of the settlement may be the template for future settlements in other states. That's if the appellate courts in other districts and states agrees with the 9th district (CA) ruling.Now given that the settlement involves a period covering 7 years, shouldn't the setttlement be prorated over those 7years. If it could go that way rather than all dumped into 1 year it would require amended returns for those years but one would think that the overall tax rate percentage wise would be significantly lower. DJV do you know if anybody brought this matter to anybody's attention. Thank you for your time and information.
dvalleyjim
Well-Known Member
Not that complicated. I don't have a business now. I will take the money and pay the taxes in one year. No amended returns or nothing. The 4 main plaintiffs have produced all expense records, maybe they wll have to amend returns, etc. Also these guys will get million or more dollars. For the general class it's just a one time payout that will be handled as income for yr. 2016.
Thankyou and I mean it. Now if there is a similar settlement in my state( when pigs fly) I will be yelling long and loud for a prorated settlement if the settlement is based on a similar number of years. In fact I am going to get in contact with the lead attorney and bring this matter to their attention to see what can be done about minimizing the taxes. I bet that some of the settlement will represent a reimbursement for employer taxes that should have been x's liability but were paid by contractors . Words cannot express my gratitude if the settlement can be structured to reflect the years and the reimbursements.
UpstateNYUPSer(Ret)
Well-Known Member
Give them one of those stupid purple Santa hats.
STFXG
Well-Known Member
Saw those sitting on a managers desk last night. I'm sure they will be making an appearance tomorrow.
Operational needs
Virescit Vulnere Virtus
Those stupid hats that fit almost no one. Lol.
Cactus
Just telling it like it is
Probably because they're rejects from the sweatshop factory in Taiwan.
Operational needs
Virescit Vulnere Virtus
Or from the children's section.
dvalleyjim
Well-Known Member
One advantage CA had was they were the guinea pigs of the ISP. The lawyers went after the time period before this contract within the statutes of limitations. They then threatened to go after the 2008 contract till present. FedEx settled for the 238 million sum contingent on them not suing for the "guinea pig" contract. The lawyers agreed. FedEx then went to the ISP conract. The ISP contract is more in line with a franchise but I think it's vulnerable due to the low pay of the ISP drivers. Let a lawyer come to me with 22 Yrs. experice in this crap and I can find a way to sue! But it would cost them.
DVJ: This is so helpful. Since I was just about the only one at our terminal who consistantly followed this matter this is a godsend of information. I agree the ISP format and the payscale that in some cases is simply non competitive with Xpress, USPS and UPS combined with the ISP's employees right to collective bargaining some ISP's will need to try to get a much better set of terms from FXG before they find themselves caught between their employees demand for better pay and benefits and the continous downward pressure from G for a lowball deal. The better the deal is for G the more jack in the mgrs pockets.
dvalleyjim
Well-Known Member
Think about this. The ISP was developed in the Obama economy, with only 1.3% growth. If the economy were to return to 3-5 % growth under a real president and congress FedEx ground and the ISP would have severe driver shortages due to employment demand. 94 million people have dropped out of the labor force so don't cite me the 5.1% unemployment rate
Wages have been stagnant for decades no matter the party in power or who the president is or how much growth.
dvalleyjim
Well-Known Member
My quote isn't political, just facts. These people that run the country are snowing us. Republican or Democrat.
Right now the Fed is trying to get inflation up to 2% .A far cry from the 80's when we were trying to get it under 10. X is a company that still for unknown reasons believes that they can get top of the scale performance for bottom of the scale money. When the truth of the matter is this is ball busting work , the hours are a killer and nobody's willing to do it anymore for fast food wages but ISP' will be under severe pressure to find that kind of person.
