AT&T/Frontier Stock Update

Secretary Treasurer Louise Gibson, Vice President Chuck Borchert, CWA Staff Rep Tonya Moore and I held a Step 3 grievance with Frontier today related to the company's decision to force movement of ATT shares out of the 401k plan. After extensive research for this grievance, I presented my acquisition bargaining notes, bargaining proposals, slide shows, and information requests. This, along with my personal knowledge of facts, and because I was at the bargaining table I was able to show that CWA bargained to retain those shares that were ported into the Frontier 401k plan post the close of the acquisition agreement. The union bargained to retain those shares, period. The company can change investment options in the plan but cannot force the change in what was bargained by the union related to the shares without mutual agreement. The union requested the company extend the April 30th date and allow all members regardless of their age to be able to transfer the stock in its entirety. Unfortunately the company denied the grievance without further investigation even when faced with all the facts we presented today. Our National union will now investigate this case for arbitration. Our remedy is to make everyone who was forced to change the investment options whole so each employee will keep what was bargained. This issue impacts all employees under the age of 59 ½  that could not keep all of the transferred shares together. I will report any further development as information becomes available. In Solidarity Dave Weidlich Jr  President CWA 1298