2022’s Lunar New Year, which was on Feb. 1 brought us to the Year of the Tiger. The tiger embodies courage and bravery, and with that resilience and strength — even in times of struggle, according to Professor Jonathan H.X. Lee, a scholar and researcher of Asian religions and folklore. The period marks a pivot toward refreshingly good change.
I wanted to open with that, as we all prepare to close out 2022 on a high note, because this past year was a particularly strong one for your Association. For me personally, I had the great honor of not only being elected in January by the board as chairman, but to also welcome three new grandchildren this year.
Given the recent few years of the pandemic, it’s refreshing to know that your Association has come out of that gloomy period strong and secure.
Proxy = A Lucky Dozen:
We kicked off 2022 with our latest proxy win – victory #12 – for your Association as shareowner proxy warriors. This now requires the VZ Board HR Committee to diversify its mandate beyond just concerns about senior executive bonus and compensation, to also focus on equity for the entire workforce.
It reminds us of the old proverb, what’s good for the goose, is good for the gander.
Then at the VZ Annual Meeting, our proxy to empower shareholders to Ratify (or reject) Executive Severance Packages, scored 44% of the vote. Considering the “golden goodbye” for CEO Hans Vestberg is about $38.6 million, can you blame us for seeking greater shareholder oversight over this.
We are back on the proxy warpath in 2023, but in addition to Verizon, we have added AT&T to our sights. Stay tuned for more on that.
Capitol Connections in D.C.:
We also had some good news from Washington, DC, where some congressional leaders recognized that the state of pension de-risking in America has gotten far out of hand.
According to Association Counsel Eddie Stone, in the last decade, a QUARTER TRILLION DOLLARS in retiree pension assets have been spun-off to third party insurance providers and investors, with not a lot of rules governing or protecting those precious retirement assets.
Our Verizon colleagues, along with GM retirees were among the first victims of de-risking transactions about a decade ago, so this really matters to our members. The solution will be federal legislation being supported by your Association.
Our friends at Retirees for Justice are among the national leaders campaigning and lobbying to achieve needed regulatory rule changes and better protections for tens-of-millions of impacted or soon to be concerned American retirees.
“Miracle” or “Love Canal” on 2nd Avenue:
Around early summer we were focused on spotlighting the cause and concerns surrounding the 1975 N.Y. Telephone Company Fire. It was nicknamed, The Miracle on Second Avenue by company spin doctors, but instead it was a health and safety nightmare, for those who were there.
50% of the NY City Firefighters battling the fire, succumbed to cancers and it’s no coincidence. Even today, it remains the largest indoor toxic burn pit in America, as identified by environmental scientists.
Long before investigators spotlighted the Love Canal environmental disaster in the late 1970’s, we were the canaries sent into that coal mine on Second Ave.
It’s exactly why we worked collaboratively with the FDNY in 2022, to recognize and memorialize what occurred there, for future generations to know and reflect on its significance.
And on February 27, 2023, the anniversary date of the fire, we will assemble with FDNY and Verizon leaders to unveil a bronze memorial plaque at 204 Second Avenue in Manhattan, to never forget the work and sacrifices of those who lived through that nightmare. They were simply doing their job. Stay tuned for more.
Live from New York, It’s…
For decades, our Association held its annual member meeting in the spring, generally within a week or only a few days of the VZ annual meeting.
The pandemic in 2020 caused us to detour and eventually take that member meeting online. Thank goodness for the advent of Zoom, YouTube and Facebook Live, and their capability to broadcast events directly to your computer or smartphone and even some smart tv sets.
On Wednesday, October 19, 2022, something great happened, when your Association of BellTel Retirees had over 100 Association members together for our 25th annual meeting. It was a great program, with a distinguished and diversified group of guest speakers.
That morning, as we broadcast the event, live over the internet, “technology gremlins” caused some disruptions. At our newsletter deadline, our team is preparing the event recording to go live online, for all of you to experience the event too. Please tune in.
Keep Us Strong & Impactful:
Thank you to all our members for your continuing financial support. We can’t do it without you.
For those who have already given in 2022, thank you for your generosity. For those who have yet to give or those who might be able to do more, please give what you can, within your means.
Can you spare $25, $50 or $100 to support our advocacy for retirees and equally important, is the protection of our surviving spouses. Please keep BellTel strong so it can be there as a counterbalance and strong voice for retiree economic rights.
This article was first published in the 2022 Winter Newsletter.
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