Originally Posted by
PurpleToolBox
I wouldn't be the first person to accuse you of doing the company's bidding. And I won't be the last.
The 202
X crap. You're setting expectations that it is going to be a long time after our amendable date. It's going to be a long time because people like you keep telling us so.
Just curious if you worked anywhere else with a union?
I see you consistently disregard or refute without evidence what others' have said the way things are at other companies. You say you always ask a buddy from your '98 class... blah blah blah ... stupid.
Our contract has great things in it. It also have things that are the industry's worst. It's both. You're trying to make it a one or the other. And doing so you undermine those who are shedding light on the parts that need fixed.
Keep setting those expectations. Keep up your bs about you flying your line yada yada yada. Keep posting those "why wouldn't I vote yes on the TA" posts on JetFlyers. I have the screenshots. It is appalling the way you acted and pushed for the TA. You singlehandedly could be responsible for the 7% that pushed it over the edge. And you flying with new hires corrupting their heads is scary. I hope they see through your bs.
You got what you wanted. More PBS and the end to involuntarily being converted during the VTO process. Worse you made jokes about PBS. Are you happy?
You gave up the best position this crew force has been in since the history of FedEx pilots. We will never get that back. And we will never get rid of the SLG.
Also, your $3.5Million spreadsheet left out the yearly interest generated from $3.5M during your hypothetical 4% drawdown. Why not ask the junior folks if they prefer 18% COC instead of a DP/B-fund? I know several who would. But we will never know. That boat has sailed and if the "pension stabilization plan" is voted in, all of our eggs will be in the stock market.
1st job at an RLA company. Previous employment under NRLA, when I was HS\College age. Family in Teamsters, as well as SIEU. NRLA much more labor friendly.
CBA 202X. How big of an idiot are you? Current CBA becomes amendable late in 2021. While FedEx Could Open it early, that's not the FedEx Mgt I've come to "know". FedEx Could also give Mid-CBA pay raises, as has occurred in the Pax world over the past few years. But again, that's just not the FedEx I "know".
So, absolute best case it's 2022. If past history is indicative of future performance, then I'd expect Maybe a CBA for peak 2023. But more than likely 2024. Our 5 year 99 CBA was replaced in 2006 after roughly 26 months of negotiation and CBA 2015 voted in after a similar duration from our 2 year 2011 CBA.
As to the VB plan...it's invested in Stocks, just as our current A plan is. But it's STILL a Defined Benefit Plan. Which means that each and every month a Check will be coming to everyone in Retirement. A check whose value is calculated based upon a Benefit Formula. A check that, worst case, is supported by the PBGC. (Something that's a Huge cut in benefits, btw) A check that Comes for Lifetime.
Ask absolutely Any Investment advisor if they would recommend Transitioning from a Defined Benefit plan to a Defined Contribution Plan...even an 18% COC plan as you're suggesting, they'll tell you it's better to have a mix such as we have.
Don't think I'm right? Then Ask yourself why Management, out of the goodness of their hearts, made an unsolicited offer of a 16.5% COC up to 360k offer in exchange for eliminating the A plan.
Something which resulted in a Letter by former R&I folks being written, discussed on this very forum, as being adamantly opposed to even discussing switching from a DB\DC mix to a straight DC mix.