Originally Posted by
FlyGuy2002
you guys do realize in business its the owners of a business who are entitled to profits first right? employees can always complain but the thats how business works. The board of directors represents the owners (shareholders) and have a fiduciary obligation to get them a return on their investment. the only fiduciary obligation they have to us is to pay us what the agreed upon pay rate is. From pilots down to contractors. Also, insiders and top 5% shareholders only account for .3% of the outstanding shares. Institutional investors, mutual funds, state pensions funds, etc, own over 97% outstanding shares.
Just how it works, when there are profits to be either spent or reinvested, it goes to owners before employees...
We don't want to participate in the profits of the company MORE than the execs. We we want is what is industry standard. Before my day, company-provided health care benefits did not exist. It started being offered to lure employees. Now it is standard. Imagine if Spirit were the only airline not offering health care benefits. You would be demanding it, right?
We just want a standard plan where a percentage of profits is doled out to pilots. I think 15% is customary.