_| TCA |_ B E T W E E N Y O U R S E L V E S
_|\| AIR |/|_ N E T L E T T E R
> CANADA <
>_./|\._< for Air Canada retirees
number 362 date April 29th, 1999 1st Published in October 1995
. Special edition - preliminary report from the Pionairs AGM - Vancouver.
Roy McCormack sends this report -
"Total of 403 Pionairs attended the 22nd Annual General Meeting in
Vancouver, April 25, 26 & 27. It was held for the first time in one of
Vancouver's newest hotels --- The Sheraton Wall Centre.
The combination of pleasant surroundings and the gracious hospitality of
the hotel staff provided an ideal atmosphere for meeting yet again with
former career colleagues as well as the all-important opportunity for
Pionairs representing all but one of the 15 districts across the system to
have dialogue with Senior Management personnel from Air Canada
The first of two business sessions on Monday, April 26th featured an
up-date on the year's activities by President Olie Moore; a report on
Pensions and benefits by Leo Goulet, Pionairs'Pensions and Benefits
representative; and a report on the state of finances by the Treasurer.
In spite of a relative decline in the investment world during 1998, the
Pension fund grew $204 million over 1997 experienced a growth of 4.4 percent
to a total value of $4.847 billion - sufficent to accommodate the needs of
all retirees and current employees to satisfy any future eventuality.
Pension fund payments were $215 million.
The financial report for the Pionairs' fiscal year ending August 31,
1998, showed a net loss of $9500. Almost $3800 of this loss was attributed
to expenses incurred in developing the Travel Guide. The bulk of the
remainder can be attributed to the traditional practice at AGM's of
including complimentary beverages for attendees. This practice was
discontinued for AGM 1999. With the financial report covering the previous
fiscal year ending 31 AUG 98, an up-date was given of the state of finances
to April 18th 1999.
With the elimination of complimentary beverages at the AGM and the
compensation by Air Canada for all development expenses for the Travel
Guide, a conservative estimate of year-end results to August 31st 1999 is
in the order of $5,000 in the black.
The second business session on Tuesday April 27th featured a
dialogue with an Air Canada panel of Doug Lovat, Director of Employee
Pensions and Benefits, Roger Clark, Manager of Employee Benfits, plus Vicki
Benoit and Linda Kwoon of Industry Travel. Many good questions were asked
from the floor and in the few cases where answers were not sufficiently
available they were noted for follow-up and reponse.
Doug Lovat gave a concise and informative synopsis of the state of
the airline -- an encouraging picture in spite of some of the recent
problems with work stoppages and general problems in the domestic and
The meetings closed with the presentation of the new Pionairs
executive nominated and approved by vote to serve for the next two years
commencing 1 SEP 99. The new slate of officers, based in the Victoria
Saville Hambleton, President.
Bill Fisher, 1st VP.
Kay Napolitano, 2nd VP.
Norm Stoddart, Treasurer.
Barbara Hambleton, Secretary.
The Dinner Dance on Monday, featured the Music of the Dal Richards
The closing Banquet on Tuesday featured Doug Port, Senior Vice-President
of Industry and Government affairs.
Tribute was paid to Pionairs most senior member in attendance,
Mr, Jack Dyment, 94 years young, who's career with TCA/Air Canada began in
1938 and started it on the path of technical excellence and inovation.
Next year's AGM will be held in Vancouver at the Sheraton Wall
Centre Hotel, April 28, 29 and 30th,"
" ' "
. That's it for this time, please we need your input, send
comments and email addresses of any others who may be
interested to Vesta with a copy to Terry.
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