Elwood64151 From United States of America, joined Feb 2002, 2477 posts, RR: 6 Posted (10 years 2 months 3 weeks 4 days 8 hours ago) and read 1743 times:
Yesterday as I was going through my mail, I came across an envelope from Vanguard Airlines.
Astonishingly, there was a check inside worth roughly half of my owed pay from the last pay period!
Also, there was a letter that stated how the company (which is still liquidating, fer chissakes!) came up with the cash. Basically, it stated that the reorganization/liquidation plan that was approved in November and that there was a "pro rata allocation" of available cash that allowed them to pay 55% of employee's last paycheck claims, based upon what the company has from schedules, not from claims made against the bankruptcy.
Also, there is included a list of employee names who have stakes or distributions in the 401(K) plan for which they do not have a current address and cannot find one.
If you know someone who worked for Vanguard at the time of its bankruptcy and shut-down, please have them contact Vivian Stewart at email@example.com.
My check was dated Jan 9, so there could litterally be dozens of people who have yet to receive anything, plus the people on that list I mentioned. Please let your friends who are ex-NJ employees know about this and the e-mail address.
Fred - MCI Ops/Ramp
[Edited 2004-01-24 21:42:43]
Those who fail to learn history are doomed to repeat it in summer school.