Originally Posted by
Columbia
Yep-got completely played. DALs market capitalization has increased by $7 Billion since the contract ratification. Historic profits, stock options payouts, stock buy backs, dividend payments and dalpa fell for the bluff at the poker table that there was simply no more $$$ to be had. And even after the hands have been flopped on the table, dalpa still defends its playing of the hand?
If market cap is an important metric to you, Delta is at approximately $17 billion. In 1998 Delta's peak market cap was about $28 billion. So Delta is 61% of the way back...
You quoted a guy on my ignore list talking about "cola pay raises". Contract 2012 puts his super premium pay rate at $270.25 plus 15% DC on 1/1/15. The highest pay rate he ever had prior to the merger was $264.96 plus 3% MPPP. BTW, it's still not enough.
You quoted those pay raises were "fully funded by productivity concessions and profit sharing reductions". The net productivity increase was about 125 jobs across a 10,500 pilot system. The profit sharing transition to pay ranged from $0 at no profit to $42 million at $2.5 billion in profit. The C2012 pay rate/DC increases were over 20% and worth $400 million annually in 2015. Not "fully funded", "cost neutral" or "offset" by a long shot.
So the cards are on the table. You didn't read the hands right.