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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

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