We would be fools to consider any change in profit sharing (PS).


First off PS is now part of our contract, status quo, so to speak. Why should we have to put it up for consideration at all?

The company may want to decrease it - who cares?

Even if we did decide to monetize it how could we be sure we are getting a good "rate of return?"

PS is growing very quickly so lets enjoy it. If the company wants to drag out C2016 let them - our PS will help minimize the pain. If fuel continues its slide who knows how high PS can go.

Oh yeah, I forgot about the dreaded "Black Swan" (BS) event. Well we have to stop worrying about something we have no control over.

Besides if we do have a BS event everything would be on the table - it would be an all hands on deck to save the company type of deal.
And we know what that means - Labor takes it in the shorts permanently, management takes a temporary hit but that reaps a windfall for "saving the company."

So in reality, if we decide, foolishly in my opinion, to "monetize" PS in order to inoculate ourselves against a BS event we must realize that it would only help for a very limited range of BS event. Too small an event would not matter, too large an event and we get hit with a Force Majeure anway.

So maybe, just maybe, we might get a good rate on monetizing our PS. And then maybe, just maybe, we have a BS event of just the right size magnitude that our profits are permanently affected but the company does not hit the Force Majeure range.

I for one would be willing to take my changes on this.

Dont touch PS!

Scoop - My 2 cents