Originally Posted by sailingfun

I would not put 19/5/5 out of the zone of reasonableness. The problem is the NMB probably considers managements package more reasonable. In total dollars they are not that far apart. End game would be about 175 million in year 3. We are going to have to tack a year onto duration however as management is not going to want to start this over in a year nor will the NMB.
I suspect when all is said and done will will fall somewhere around 17-18%/4/3/3. The question is will it be now or in 5 years.