Originally Posted by
SawF16
The potential downside to waiting to monetize is the possibility of reduced profits in the next 3+ years. Not saying it's a sure thing, but I personally don't count on the industry making the margins they are much longer than that. If we miss-time it we get zero in exchange for profit sharing (although, yes, we get to keep it until the next upswing). If the CO isn't making 6 billion in profit, they aren't going to buy back the 6 billion profit sharing bracket, at least not at full price like they did in the TA.
If you're talking "buy low, sell high" we're kind of there. We got the PS when it had such low probability of paying out the mgt negotiator who traded it to us was probably laughing at us. I don't have a problem with monetizing a measurable amount now and negotiating to get it back in the next downturn.
And now that they want to make a significant cut to that PS, you cant see them laughing at us again? The company believes its going to top $6B for a long time, otherwise they wouldn't be setting the 20% threshold at $6B. PS is a ZERO risk item for the company. I'll say it again. PS is a ZERO risk item for the company.
I am also for monetizing PS into our pay rates, but only as BASELINE. If the company sells us the PS monetization as a pay raise, its not really a pay raise is it? Monetize the PS into our pay rates, and THEN establish our pay raise on top of that baseline. In other words, if you want 6 to 10 percent taken out of our PS, add 6 to 10 percent to our pay rates and make that our starting off point, then add the DOS pay increase of at least 10 to 15 percent, then 5 percent each January. THAT still doesn't get us to 2004 adjusted rates, but then its a real pay raise at least.
As for concessions, the company overreached with sick, PS, scope, LCA-FO, etc, and it crossed the line. They want productivity gains and they'll do it any way they can. If it means us having to be away from home more to do it, then its not acceptable to many of us. I like letting my QOL work in my favor, it allows me to have more free time, which I can then use to pick up premium flying ONLY IF I WANT TO. And that's what makes this job great. I don't want to be forced to come to work to fly 85 hard hours a month, and most of us prefer the flexibility to do as we wish.