SB Overtime checks

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Jul 22, 2008 11:36 pm

These were supposed to be mailed out already. Does anyone know what the hold up is?

Jul 30, 2008 10:31 am

I spoke yesterday with lead council, this is what they said… We are now having a dispute with Citi over who is going to pay the income tax on the interest earned over the past year. Citi thinks that the plaintiffs (us) should pay it, and “our” lawyers think C ought to pay. Net result being that they service center’s line that checks will be mailed out by the EO July is now non factual information.

  It is supposed to take two weeks for the checks to be cut once the word is given to cut them. so if they settle today, it'll be mid August.    In my opinion it's BS! I don't think that C ought to be held to pay the taxes on the interest (truth be told, I'm surprised that there was interest anyway, I thought it would have been held in a non interest bearing escrow account) we're the ones earning the interest, we're the ones who should get the net benefit IMHO.   If 93,000,000 earned 3% over the last year and was taxed at 28%(effective rate) we're talking about 80,000 or less than 1%. Shoot, inflation since the June payout (which was supposed to be in February anyway) has eroded the payout more than the piddling taxes!   I got lead council's number by asking at the service desk.  
Aug 5, 2008 1:15 pm

I am new to the forum. Want to learn what the overtime dispute is.

If it is what I think it is, I may have a case to pursue.

Thank you.