Originally Posted by
TED74
I'm no accountant, so someone with or pretending to have expertise please back me up. Does Delta not have built-in cost savings approaching, with the massive replacement of top-end wage-earners (retirees) by low-end wage-earners (new hires)? The percentage of the pilot group pulling in 12-year+ pay has to be on the verge of plummeting, does it not?
The buy backs mean Delta has too much money. You never want to be in a situation where the company's assets exceed the market value of a public company. The best route would have been to return the $6billion to the employee group in terms of back pay restoration for the bankruptcy concessions. Most shareholders are institutions that jumped on the bandwagon lately, and received a 300% gain, meanwhile employees still are down 50% on their investment in the company(concessions) during the lost decade. Also, why can't they buy surfaces for Endeavor pilots, Jesus!