Originally Posted by
Ferd149
J,
NOPE........I'm not arguing we need to make any concessions.
But, profit sharing has to go! As I said, re-wicker it into other areas i.e. work rules for example that aren't taxable.
Look, we paid down debt (a good thing) but that is money that isn't available for profit sharing. We paid a dividend (an OK thing if you have your stock) but it's money not available for profit sharing. We are buying back stock.........see where I'm going?
As I said, we allowed management to get us into a compensation package they can manipulate and we have to get out from under it. Now is the time!
Ferd
PS Good to see you on here, haven't seen ya since Duke's in HNL
Debt paydown and dividends are not deducted from the profit sharing calculations. It's not actually "profit sharing", it's a bonus payment based upon PTIX excluding one-time items.
Originally Posted by
Ferd149
I will say this about profit sharing. I'm the only guy on here who thinks it's a bad thing..............so what does that tell ya
I'd trade the rest of the 0-2.5B 10% and even 2.5-3.125B 20% portion (keeping the 20% above that) for 6.5% added to our pay rates in a New York minute.
I'm with you Ferd, pay rates compound into every other section of the contract and in future rates, PS is a fixed number forever.
I do like the "unlimited upside 20%" as a high side protection, but I prefer more of my compensation protected.
"4833" was/is definitely a misnomer... More accurate is 10.76/3/3 with a 4% bonus on half of 2012 earnings. (Standing by for incoming
)
Originally Posted by
Carl Spackler
I'm with Uncle Ferd here.
Carl
I agree with Carl too....