Here's how the conversation went:
Me: "So, you would agree that the cut in profit sharing is a concession, right?"
PTP guy: "Oh no! It's not a concession at all."
Me: (With a bewildered look on my face) "It's not? Ok. I'm listening. Explain."
PTP guy: "Well, what't we've done is monetized the profit sharing loss between the 10% and the 20% and captured the profit sharing for you. Guaranteed money."
Me: "Really? So, it's guaranteed money?"
PTP guy: "Yes."
Me: "How so?"
PTP guy: "We calculated it. The loss in profit sharing is about 5.74% per pilot. But, we are going to give that to. Guaranteed money instead of the uncertainty of profit sharing."
Me: "So, are you going to give it to us in stock, or something?
PTP guy: "No. It's in cash."
Me: "In cash?"
PTP guy: "Yes."
Me: "So, are you going to give it to us in like a check at the end of the year, or something?"
PTP guy: "Um no."
Me: "Ok. Well how?"
PTP guy: Well, it's reflected in your pay rates?"
Me: "Our pay rates?"
PTP guy: "Yes. The January 2016 pay rates."
Me: "Oah. Ok. So, we get a 6% raise in January. Are you saying now we get almost a 12% raise to compensate for our profit sharing now?"
PTP guy: "No."
Me: "Um. So what are you saying?"
PTP guy: "The 5.74% is incorporated into the raise."
Me: "The 6% raise?"
PTP Guy: 'Yes."
Me: "So, it's really like a (POINT) .26% raise?"
PTP guy: "I'm not sure I would look at it like that."
Me: "Um. Ok."
5 minutes of my life wasted.
