Originally Posted by
dalad
One thing left put of this "draconian" pay cut scenario is the fact that we now get profit sharing while we didn't with C2k. My highest earning year 2004, I made $235,556. In 2005 it was $198,863. 2007 was $366,264, which included the silos and note but also the 401k fillup. 2008-$207365. 2009-$199,141. 2010 $224,374. 2012-$226,078. 2013-$299,524. YTD as of 7/31/2014-$198372. Hardly draconian pay cuts. I also received over 4000 shares of DAL stock post merger which are now worth over $145,000. The PBGC annuity I am going to receive at age 65 is going to be over $6400 per month, which is more than my frozen DB annuity of about $5500 per month. Sorry but I don't feel like I've been screwed since I also have well ober $1M in retirement savings helped by the 415c fillup.
The paycuts were draconian in their percentages. Additionally, we fund our retirement plans (with assistance from the company). This also diminishes buying power.
In my small piece of the world, I took major hits in take home pay from DAL. Now (777fo), I am above where I was then (765FO), in take home pay. However, there were a number of intervening years (8) where it was my outside (of DAL) activities that kept life good.
Your point, in the court of public opinion, is well made though.
I guess its not fashionable to value ones craft as much now as we did 10 plus years ago.