Truth in advertising to start. I'm a new hire military retiree, so I know I have a limited knowledge base. But here goes...

1st point. For many years, my father ran a paper mill that was non-union, in an industry that is nearly ALL union. They stayed had a very good profit-sharing program. As a result, they consistently performed FAR better than industry average. The employees would do nearly anything to ensure the mill keep running and making money, because they knew it meant more money in their pocket. It's hard to quantify, but I'm willing to bet that if PS is significantly reduced, the incentive among all employees to maximize profit diminishes, and profits go down. The skin you have in the game, the harder you work.

2nd point. Yes profits will fluctuate up and down. If another 2008 downturn occurs, PS may go to zero. In that same scenario, history shows that the Company will come to the table and ask/demand pay cuts to weather the storm. In the past, when we took pay rate cuts, how many years after profits returned did it take to get the pay rates back? In those negotiations, what other concessions did the Company ask for in return? With PS, the "pay increase" is immediate when profits return and it costs nothing in return.

Just some thoughts, looking forward to seeing the TA.