Just a great (and timely) article from @sophiaharrisCBC. I am in this boat as well. Had a flight, @WestJet canceled, offered me a replacement flight on a day when I had to work. Refused to refund me, gave me an expiring coupon instead.
cbc.ca/news/business/…
Glad to see these people in the article got their money back. Maybe @sophiaharrisCBC can do a follow up with the thousands of other customers.

It shouldn't be up to her. The @CTA_gc should be all over this.
Keeping people's money for a @Westjet canceled flight violates the tariff (read:contract) as well as the Air Passenger Protection Regulations.

When you buy an airline ticket you are entering into a contract. Written by and heavily in favor of the airline.
That is one of the reasons why we have the @CTA_gc. To rule on whether @WestJet is violating their tariff or the APPR. Unfortunately, the @CTA_gc seems to be overwhelmed with pandemic stuff.
Honestly, big picture: @WestJet is owned by Onex, which currently has more money than God. And, I swear it has cost @Westjet more money to talk to me than to pay me back. Go figure.
To quote from the APPR of the @CTA_gc website:
"Airlines are required to pay passengers compensation for flight delays or cancellations that are in their control and not related to safety."
Really?
And the hits keep coming:
"Airlines have to offer passengers this compensation in monetary form. They can also offer passengers alternative forms of compensation (e.g., vouchers or rebates), but passengers always have the right to select what they prefer."
They have given me an alternate form of compensation. I want cash. They know they are required to give me cash. @CTA_gc ?
And further, from the APPR:
"For disruptions other than those outside the airline's control, a passenger would be entitled to a refund instead of rebooking, if: the arrangements offered do not meet their travel needs;"
From Rule 90 of the @Westjet tariff (you know, your official contract): "iii. In the event of a schedule change, the Guest is entitled to a full refund to the original form of payment or accept to be booked on the next available WestJet flight"

That is "or" as in up to me.
Mark my words this will be a big business story as this unfolds over the next year.

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More from @yomeeks

6 Jul
The Pension War Room™️has another communique from Kaycee Madu! Threat level mauve! He says a bunch of things that are wrong. Like..."As Trustee, ATRF will also continue to set the investment policy for the plan."
#AbLeg #handsoffmypension
Kaycee should engage his critical thinking skills and ask himself: "what are the other legal obligations of a pension trustee?" Oh, like hiring and firing investment managers? A job the UCP has taken and given to their friends at AIMCO. #AbLeg #handsoffmypension
Apparently they can't ever be fired, regardless of performance. If Travis and @Alberta_Finance were even remotely doing their jobs I would not be in charge of performance management for AIMCO. #AbLeg #handsoffmypension
Read 10 tweets
5 Jul
The Pension™️ War Room brings you the AIMCO pay package edition! There are some really juicy interpretations of facts in the compensation disclosure.
I will point them out, you can let me know if they are on the mark. #AbLeg #handsoffmypension
It starts on page 72 of the Annual Report with Kroner (the chair of the HR Committee) pointing out that: "...with compensation down by more than 10% relative to 2019."

This might give you false hope that execs paid a real price for the VOLTS shenanigans.#AbLeg #handsoffmypension
At least that is what Kroner wants you to think. Probably not true. The fact comp is down by 10% probably has more to do with positions that were left vacant for the part of the year. (The SVP who was fired over VOLTS has not been replaced yet, for ex.) #AbLeg
Read 7 tweets
3 Jul
This is your daily pension announcement: the mailbag edition! So I will pull another question out of the pension-question bag and answer it as best I can.... #AbLeg #handsoffmypension
This week's question is..."Greg, if you had one nice thing to say about AIMCO, what would it be?"

I can say several nice, positive, affirming things about AIMCO. The one that jumps to mind is that they went to great lengths to care for their employees during the pandemic. #AbLeg
AIMCO transitioned to being nearly all working from home. They had an array of supports available to workers and certainly took great interest in everyone's physical and mental health through this period. #AbLeg #handsoffmypension
Read 5 tweets
3 Jul
The Pension War Room™️rests for no one! Just so you know, when I was the Board Chair of ATRF I had a role in hiring and negotiating the contract of the CEO. So I do have some background to Kevin's compensation.
I would have expected the Auditor General to make it more transparent. Many unknowns. But here is what we do know....
1. Kevin, as AB highest paid public employee, was paid $2.7 million for his work last year.
2. That was only $100,000 less than the year before.
#AbLeg
3. The biggest single component of his pay is the long-term incentive plan (LTIP) which is (for Kevin) based solely on 4-year total fund return.

EXCEPT IT DIDN'T INCLUDE THE FUND RETURN FROM LAST YEAR. YOU KNOW, THE REALLY SHITTY YEAR. #AbLeg #handsoffmypension
Read 8 tweets
2 Jul
The Pension War Room™️is in a rage, so we will keep the hits coming!! The LAPP annual report is out, get your copy below. Being jointly sponsored the LAPP Board should be able to choose an investment manager. #AbLeg #handsoffmypension
lapp.ca/page/whats-new…
What did LAPP members get for the $281 million paid to AIMCO last year? 5.2% investment return with a benchmark of 9.5% for a net🥁🥁value add of -4.3%. You would have been better off if you had indexed the lot and had AIMCO employees stay home. #AbLeg #handsoffmypension
BTW, AIMCO returned 1.64% for PSPP. They have not released the value lost yet, it will likely be more than LAPP.

Back to LAPP: 5-year return=7.0% (bench 7.5%) for a value add of -0.5%.

10-year return=8.3% (bench 8.3%) for a value add of 0%. Not good.
#AbLeg #handsoffmypension
Read 10 tweets
1 Jul
It might be on the eve of a national holiday, but it is here, AIMCO's Annual Report. The Pension war Room will spend the next several days sussing out the naughty bits. #AbLeg #handsoffmypension
aimco.ca
ATRF 10-year return 9.2% against a benchmark of 8.5% for a value add of 0.7%, for comparisons sake.
AIMCO 10-year return 7.7%, against a benchmark of "we are not telling you". That is some real cajones there.
#AbLeg #handsoffmypension
AIMCO 1-year return 2.5% against a benchmark OF 8.0% FOR A VALUE ADD OF -5.5%. That is the whopper.
In fact, they have only hit their target return 2 of the last 5 years. #AbLeg #handsoffmypension
Read 11 tweets

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