Originally Posted by
Check Essential
The question we should be asking ourselves is why we are even asking the question.
Its astounding to me that in this environment of enormous profits, management and DALPA have been able to steer the terms of debate toward a mindset where we are talking about what concessions we might have to give.
We don't owe this corporation one nickel. They owe us. We bailed them out.
Let's not forget, a significant portion of the current "profits" are what used to be our pension.
We've already funded our own contract. The "very big check" is pennies on the dollar.
Spot on CE.
Also, if management were to give us say, a 25% raise, that would be an increase to the COST side of the equation.
However, a 25% Profit Sharing payout is NOT on the cost side of the equation, PS comes from PROFIT, which is determined after subtracting COSTS.
Richard has to answer (stupid) questions at those investor conferences we all listen to (or should) and one of the questions they always ask is, "What do you project your operational cost increases will be, going forward?"
Well, Profit Sharing is NOT part of a "cost increase" at all. It is a distribution of profits, after costs are subtracted from income.
It's just like paying out a dividend to the investors, only in this case WE were the investors, when we sacrificed 42% of our PAY (which it would take an 18% pay rate increase just to recover today) and our DB funding going forward.
Remember, the DL South DB plan was over $4 Billion UNDERFUNDED when they flushed it down the toilet.
The first $4Billlion of any Delta Profit can be directly attributed to the company NOT funding our DB PLAN!
Then add in the over $1Billion per year just for the south guy's pay cuts! FOR 10 YEARS! That's another $10 BILLION they still OWE US!
