Any "Latest & Greatest" about Delta?
04-23-2014, 07:26 PM
Runs with scissors
Joined APC: Dec 2009
Position: Going to hell in a bucket, but enjoying the ride .
Posts: 7,722
Originally Posted by scambo1
Beginning?
What Timbo said is true. Half of this profit today exists because of bankruptcy paycuts and pension termination.
I'm still convinced that the reason management uses EF&A info isn't because they are so great but because their valuations are off.
What Timbo said is true. Half of this profit today exists because of bankruptcy paycuts and pension termination.
I'm still convinced that the reason management uses EF&A info isn't because they are so great but because their valuations are off.
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
Last edited by Timbo; 04-23-2014 at 07:43 PM.
04-23-2014, 08:01 PM
Gets Weekends Off
Joined APC: Dec 2009
Position: Stay THIRSTY, my friends!
Posts: 1,898
Originally Posted by Timbo
Here's some quick math to keep you up late...
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
04-23-2014, 08:29 PM
Gets Weekends Off
Joined APC: Sep 2007
Position: B737 CA
Posts: 1,518
Originally Posted by forgot to bid
Richard H. Anderson
the way our pilot agreement was already set up, we had a fair amount of flexibility in terms of being able to manage to the new rules
the way our pilot agreement was already set up, we had a fair amount of flexibility in terms of being able to manage to the new rules
04-23-2014, 08:52 PM
Gets Weekends Off
Joined APC: Jun 2008
Posts: 3,716
Originally Posted by Timbo
Here's some quick math to keep you up late...
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
04-23-2014, 09:03 PM
Super Moderator
Joined APC: Dec 2007
Position: DAL 330
Posts: 6,868
Originally Posted by Timbo
Here's some quick math to keep you up late...
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
A Billion dollars is a thousand Million dollars. When the company flushed our DB plan (with DALPA's blessing) to the PBGC, the Delta (south) DB plan was about 4 Billion 'underfunded', because Delta hadn't made -any- contributions to the plan during the Dot Com stock market boom.
With last year's 2.7 Billion, and this year's 3.7 Billion earnings forecast, the company could have put $4 Billion (4,000 Million) into our DC plans to make us nearly whole, to replace our DB plan, and still had "Record Earnings" in each year ($1.7 Billion in each year, while putting $4 Billion into our retirement plans).
Yeah, most of that money Delta is "Earning" is actually due to the PILOT contributions, through the loss of our DB plans and our pay cuts.
My 42% pay cut alone has been about $100,000 per year, for 10 years, which is $1 Million, PLUS my DB plan was worth $1.4 Million, 10 years ago. And there are at least another 1000 guys in my situation.
So put me down for a $2.4 Million contribution over the past 10 years, times 1000 others, we paid for the first $2.4 Billion of Delta's record earnings, but at least I'll get $4,000/mo. from the PBGC when I retire...so I've got that going for me.
Not even a thank you note from Richard...who, bye the way, got a 42% raise last year.
That's just the "Man" trying to keep us down!
Scoop
04-23-2014, 09:09 PM
Gets Weekends Off
Joined APC: Apr 2012
Position: 7ER Costar
Posts: 406
Originally Posted by boog123
You folks ever see a rotation that you are flying (flying now) disappear from your timecard? Max pickup value went up 20 hours, but rotation is still on calendar. Not showing up on timecard though. Did I disappear?
04-23-2014, 09:13 PM
Super Moderator
Joined APC: Dec 2007
Position: DAL 330
Posts: 6,868
Originally Posted by forgot to bid
Helane R. Becker – Cowen and Company, LLC
Okay. Thank you. And then just on the new pilot rules that went into effect in early January. Can you just talk about where the cost associated from that would be and whether or not – and how you’re able to handle that successfully?
Richard H. Anderson
We’ve been able to handle it from an operating perspective incredibly successfully, and Jill how many perfect completion factor days do we have?
Paul A. Jacobson
We’ve got 24 year-to-date.
Richard H. Anderson
We have 24 perfect completion factor days year-to-date. And we’ve been able to manage through that actually quite effectively because the way our pilot agreement was already set up, we had a fair amount of flexibility in terms of being able to manage to the new rules and we put a lot of work into our systems and our planning in advance of 117. In fact, we asked the FAA to let us start a little bit early so that we could have it for the full month of January for the purposes of planning. So you see it or not, we don’t break out separately that kind of detail in our non-fuel CASM, but you can see overall our non-fuel CASM in the quarter was excellent.
Glen W. Hauenstein
I would just also add that practically our operational control center manages that on a daily basis to mitigate the impact.
Okay. Thank you. And then just on the new pilot rules that went into effect in early January. Can you just talk about where the cost associated from that would be and whether or not – and how you’re able to handle that successfully?
Richard H. Anderson
We’ve been able to handle it from an operating perspective incredibly successfully, and Jill how many perfect completion factor days do we have?
Paul A. Jacobson
We’ve got 24 year-to-date.
Richard H. Anderson
We have 24 perfect completion factor days year-to-date. And we’ve been able to manage through that actually quite effectively because the way our pilot agreement was already set up, we had a fair amount of flexibility in terms of being able to manage to the new rules and we put a lot of work into our systems and our planning in advance of 117. In fact, we asked the FAA to let us start a little bit early so that we could have it for the full month of January for the purposes of planning. So you see it or not, we don’t break out separately that kind of detail in our non-fuel CASM, but you can see overall our non-fuel CASM in the quarter was excellent.
Glen W. Hauenstein
I would just also add that practically our operational control center manages that on a daily basis to mitigate the impact.
The above does not surprise me for two reasons:
1. I think the final 117 rules that went into effect have been watered down quite a bit while being developed. Hell, in some cases it actually seems a step back from the previous rules.
2. Our PWA was pretty good regarding crew rest/duty so we are not affected quite as much as some carriers that basically flew to the FARs.
On a 1-10 scale with 1 being great and 10 being crap as a domestic 737 pilot I personally rate the new rules a 4.5. I am sure some of the international guys may have a different opinion.
Also the jury is still out on the difference of opinion we have with management on the reserve acknowledgment issue. How that is adjudicated could change my opinion.
Scoop
04-23-2014, 09:20 PM
Da Hudge
Joined APC: Oct 2006
Position: Poodle Whisperer
Posts: 17,473
Originally Posted by Scoop
The above does not surprise me for two reasons:
1. I think the final 117 rules that went into effect have been watered down quite a bit while being developed. Hell, in some cases it actually seems a step back from the previous rules.
2. Our PWA was pretty good regarding crew rest/duty so we are not affected quite as much as some carriers that basically flew to the FARs.
On a 1-10 scale with 1 being great and 10 being crap as a domestic 737 pilot I personally rate the new rules a 4.5. I am sure some of the international guys may have a different opinion.
Also the jury is still out on the difference of opinion we have with management on the reserve acknowledgment issue. How that is adjudicated could change my opinion.
Scoop
1. I think the final 117 rules that went into effect have been watered down quite a bit while being developed. Hell, in some cases it actually seems a step back from the previous rules.
2. Our PWA was pretty good regarding crew rest/duty so we are not affected quite as much as some carriers that basically flew to the FARs.
On a 1-10 scale with 1 being great and 10 being crap as a domestic 737 pilot I personally rate the new rules a 4.5. I am sure some of the international guys may have a different opinion.
Also the jury is still out on the difference of opinion we have with management on the reserve acknowledgment issue. How that is adjudicated could change my opinion.
Scoop
04-23-2014, 09:25 PM
Gets Weekends Off
Joined APC: Jan 2008
Position: A somewhere
Posts: 393
Originally Posted by tsquare
Yeah, your buddy got me.... killjoy...
That information is meant to be disseminated. That's why they tell us, because they know we cannot keep our big mouths shut. The thing we are not supposed to do is put a name with a specific statement. Like... [redacted] But.... it is intended to be done face to face, not thru the interwebs via Flyboy1.
To answer orvils question, we do not sign nondisclosure statements per se, but I will not discuss things said there on the forum other than to verify when those statements have been proven true. (And many have so far) For that reason I have been accused of being "coy" (right scambo?)
but that is not the case.
It was fun while it lasted.
That information is meant to be disseminated. That's why they tell us, because they know we cannot keep our big mouths shut. The thing we are not supposed to do is put a name with a specific statement. Like... [redacted] But.... it is intended to be done face to face, not thru the interwebs via Flyboy1.
To answer orvils question, we do not sign nondisclosure statements per se, but I will not discuss things said there on the forum other than to verify when those statements have been proven true. (And many have so far) For that reason I have been accused of being "coy" (right scambo?)
but that is not the case. It was fun while it lasted.
04-23-2014, 09:57 PM
Gets Weekends Off
Joined APC: Apr 2007
Position: 320
Posts: 709
Originally Posted by Scoop
The above does not surprise me for two reasons:
1. I think the final 117 rules that went into effect have been watered down quite a bit while being developed. Hell, in some cases it actually seems a step back from the previous rules.
2. Our PWA was pretty good regarding crew rest/duty so we are not affected quite as much as some carriers that basically flew to the FARs.
On a 1-10 scale with 1 being great and 10 being crap as a domestic 737 pilot I personally rate the new rules a 4.5. I am sure some of the international guys may have a different opinion.
Also the jury is still out on the difference of opinion we have with management on the reserve acknowledgment issue. How that is adjudicated could change my opinion.
Scoop
1. I think the final 117 rules that went into effect have been watered down quite a bit while being developed. Hell, in some cases it actually seems a step back from the previous rules.
2. Our PWA was pretty good regarding crew rest/duty so we are not affected quite as much as some carriers that basically flew to the FARs.
On a 1-10 scale with 1 being great and 10 being crap as a domestic 737 pilot I personally rate the new rules a 4.5. I am sure some of the international guys may have a different opinion.
Also the jury is still out on the difference of opinion we have with management on the reserve acknowledgment issue. How that is adjudicated could change my opinion.
Scoop
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