Downloadable - IA.TSE Local 80
Downloadable - IA.TSE Local 80
Downloadable - IA.TSE Local 80
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oth types of employment models.<br />
Major rights holders under contract<br />
include Fox Sports Net, Root Sports<br />
Net, Comcast Sports Net, among others.<br />
These companies operate on a<br />
regional basis and are commonly<br />
referred to as “RSNs” or Regional<br />
Sports Networks. There are contracts<br />
in place with 14 different crewing<br />
companies. At FOX Cable Network<br />
the Sideletter Agreement has been<br />
extended to cover the upcoming<br />
college football season, as well as<br />
professional soccer. The <strong>IA</strong><strong>TSE</strong> has<br />
gained a foothold in this industry in<br />
every corner of the U.S.<br />
The <strong>IA</strong><strong>TSE</strong> continues to organize<br />
throughout the broadcast industry.<br />
Sixteen RSNs have been targeted<br />
for organizing, and 22 Sports Cable<br />
Networks are on the radar screen. In<br />
addition, organizing efforts continue<br />
at the Golf Channel and other sports<br />
networks. Outside of sports, the<br />
Broadcast Department has also organized<br />
the technicians on The Daily<br />
Show.<br />
Throughout the sports broadcasting<br />
industry the <strong>IA</strong> has negotiated<br />
for the establishment of labor-management<br />
cooperative committees to<br />
International Representative Fran<br />
O’Hern and Director of the Broadcast<br />
Department Sandra England.<br />
deal with the myriad of issues that<br />
arise during the term of a contract.<br />
In addition, the Department has<br />
developed a program for steward<br />
training at the <strong>Local</strong> level, aiding in<br />
coordinating the efforts of the various<br />
local unions when dealing with<br />
companies that largely operate on a<br />
national level.<br />
Subscriber fees and advertising<br />
revenues continue in a state of flux<br />
as the distribution models continue<br />
to evolve. To deal with the growing<br />
number of contracts and the everchanging<br />
technology the Department<br />
has established an extensive steward<br />
training program, reaching out to all<br />
the <strong>Local</strong>s with members working in<br />
the industry to promote uniformity<br />
and a united front amongst the members.<br />
The coordination of efforts is<br />
especially important since many of<br />
the employers are operating throughout<br />
the country.<br />
Establishment of the new Broadcast<br />
Department will help promote<br />
the <strong>IA</strong><strong>TSE</strong> identity for members working<br />
in this unique field of broadcasting<br />
and distribution of product to the<br />
viewers. This is an area of prolific<br />
growth, and one of the mainstay revenue-generating<br />
areas in television<br />
production. President Loeb noted for<br />
the record, the focus and commitment<br />
of the <strong>IA</strong><strong>TSE</strong> to organize in this<br />
segment of the industry, and to bring<br />
to this workforce the benefits of being<br />
part of the <strong>IA</strong><strong>TSE</strong>.<br />
<strong>IA</strong><strong>TSE</strong> NEW GENERAL OFFICE<br />
General Secretary-Treasurer<br />
James B. Wood appeared before the<br />
Board and provided an update on<br />
the new condominium property that<br />
was purchased by the <strong>IA</strong><strong>TSE</strong> for use<br />
as its new General Office.<br />
As previously reported, the present<br />
lease for the General Office expires<br />
in January 2014. The General<br />
Executive Board approved the purchase<br />
of two floors in a 12-story condominium<br />
building in Manhattan to<br />
serve as the new location of the General<br />
Office.<br />
On June 28, 2012, President Loeb<br />
and General Secretary-Treasurer<br />
Wood attended the real estate closing<br />
on the property and executed the<br />
required documents.<br />
The property is located at 207<br />
West 25th Street, which is located<br />
on 25th Street near Seventh Avenue<br />
in New York City. The building was<br />
purchased entirely with money from<br />
the Building Fund and the General<br />
Fund. By choosing not to finance<br />
the purchase with a mortgage, the<br />
International saved hundreds of<br />
thousands of dollars in mortgage<br />
taxes and bank fees that occur with<br />
commercial mortgages. It was also<br />
felt that the return on investment of<br />
real estate would be higher over the<br />
long-term than leaving the funds in<br />
a fixed income portfolio. Finally,<br />
an analysis was also done to compare<br />
purchasing the property versus<br />
leasing new larger space in a similar<br />
building. While the lease option<br />
resulted in lower costs initially, the<br />
analysis showed that beyond 12<br />
years, the purchase option was a<br />
less expensive alternative and since<br />
the International expects to remain<br />
in operation well beyond that time<br />
horizon the purchase option was<br />
pursued. This approach had the<br />
support of both the Investment Advisors<br />
and the Auditors of the International<br />
and was approved by the<br />
General Executive Board.<br />
The International purchased the<br />
entire fourth and fifth floor of the<br />
building with each floor being approximately<br />
12,000 sq. ft. and the intention<br />
is to use the entire fourth floor<br />
and half of the fifth floor to house<br />
the General Office. The remainder<br />
of the fifth floor has three tenants,<br />
which provide almost $16,000 per<br />
month of income which more than<br />
covers the $12,000 per month condominium<br />
fee. The remaining income<br />
will go towards reducing the amount<br />
of property taxes paid by the International<br />
as well as utilities. The International<br />
will take the leased space back<br />
in future years as and when growth<br />
requires it.<br />
The architectural firm that designed<br />
the <strong>IA</strong><strong>TSE</strong> National Benefit<br />
Funds office was engaged by the International<br />
to design the new office.<br />
Input was solicited from all staff and<br />
Representatives working in the General<br />
Office and a Design Committee<br />
was appointed to provide specific input<br />
on color and material selections.<br />
Input was also sought from both the<br />
West Coast and Canadian Offices in<br />
terms of what features they might<br />
think would be important in a new<br />
General Office.<br />
The present space is a maze of<br />
older offices and it is expected that<br />
demolition will begin by the end of<br />
July and construction soon after Labor<br />
Day. The plan is to move into<br />
the new office sometime in February<br />
2013 so that the move does not<br />
interfere with Convention preparations.<br />
General Secretary-Treasurer<br />
Wood then gave a presentation to the<br />
General Executive Board and the attendees<br />
of the floor plans and architectural<br />
drawings of the new office.<br />
<strong>IA</strong><strong>TSE</strong> NEW GENERAL OFFICE<br />
BUILDING CORP - DIRECTORS<br />
The <strong>IA</strong><strong>TSE</strong> has established the<br />
<strong>IA</strong><strong>TSE</strong> General Office Building Corp.<br />
to purchase the new headquarters<br />
located in New York City. The<br />
<strong>IA</strong><strong>TSE</strong> shall be the sole shareholder<br />
of the Corporation. The General Executive<br />
Board, acting on behalf of the<br />
<strong>IA</strong><strong>TSE</strong> as shareholder, named Matthew<br />
D. Loeb, James B. Wood and<br />
Daniel DiTolla as Directors, and<br />
designated Matthew D. Loeb as<br />
President and James B. Wood as<br />
Secretary-Treasurer of the new Corporation.<br />
The new <strong>IA</strong><strong>TSE</strong> General Office<br />
will be located at 207 W. 25th Street,<br />
New York, NY 10001 and planned<br />
occupation will be in February 2013.<br />
<strong>IA</strong><strong>TSE</strong> NATIONAL<br />
BENEFIT FUNDS<br />
In their capacity as Trustees of<br />
the <strong>IA</strong><strong>TSE</strong> National Benefit Funds,<br />
General Secretary-Treasurer James B.<br />
Wood, International Vice Presidents<br />
Brian J. Lawlor, Michael F. Miller, Jr.,<br />
Daniel DiTolla, William E. Gearns,<br />
Jr., Education and Training Director<br />
Patricia White, and Special Representative<br />
Ronald G. Kutak appeared before<br />
the Board to present a report on<br />
the Funds.<br />
In what has become an oftenreported<br />
statistic, the <strong>IA</strong><strong>TSE</strong> National<br />
Benefit Funds continue to see<br />
growth in employer contributions.<br />
For the first five months of 2012, the<br />
Funds saw a 16.9% increase in receipts<br />
as compared to the same period<br />
in 2011. Total assets of the Funds<br />
reached $790 million as of the end<br />
of 2011.<br />
The <strong>IA</strong><strong>TSE</strong> National Health & Welfare<br />
Fund continues to see growth in<br />
the number of covered lives under<br />
its various coverage options; Plans A,<br />
C1, C2, and C3. The Fund’s unique<br />
option, the Medical Reimbursement<br />
Program, has approximately 4,500<br />
enrollees who have other primary<br />
coverage and are afforded the ability<br />
to utilize this option to provide<br />
them with reimbursement medical/<br />
dental related expenses. The Fund<br />
provides benefits through all of its<br />
five options to approximately 17,500<br />
working men and women. When<br />
spouses, domestic partners and dependents<br />
are included, the Fund is<br />
providing coverage to over 28,000<br />
lives nationally.<br />
The <strong>IA</strong><strong>TSE</strong> National Pension Fund<br />
remains, as it has consistently, to be<br />
in the Green Zone, as defined by the<br />
Pension Protection Act of 2006.<br />
Restructuring of the Benefits<br />
Department continues with personnel<br />
dedicated to the Participant<br />
Services division continuing to be<br />
added. This area focuses on telephone<br />
inquiries, email inquiries,<br />
facsimiles and written correspondence.<br />
The hours of this division<br />
will be expanded from the current<br />
9:00 a.m. to 5:00 p.m. EST, to 8:00<br />
a.m. to 5:00 p.m. in order to help<br />
46 Official Bulletin Third Quarter 2012 47