Originally Posted by
Jeff Lebowski
The same tired excuses you hear from the mouths of the CEO’s of every publicly traded company anymore. It’s why Boeing is a hollowed out shell of what it used to be. Same with Ford and GM and GE and the list goes on and on. It’s why American workers are so justifiably furious. We have a stake in this economy. We live in it and try to raise our kids in it and hope one day we can retire with enough to live on. We see our wages stagnating but the stock market just keeps roaring along and the buybacks continue and the swindle continues.
**** Gary and his force majeur clause and his string of broken promises. I want him to have to sit down in front of the board and explain that he failed. I want all those gladhanders on the board to know that we know exactly what they’re trying to do. This goes to the heart of the swindle that’s been playing out right under our noses for the past thirty or forty years.
Why we’re not picketing over this is a freaking mystery to me.
If you think that the clause is a non starter then vote NO. If you think that the company is bluffing then vote No. if you think that 10% is unreasonable then vote no. I’m with ya, but do you really want to go picket because the company is ASKING you for 1/10th of your very good salary when the US airline industry is collectively losing around 10B/Quarter?
SWA is the most financially prudent airline in history, which is why many of us came here. There is so much uncertainty right now that I would’ve been surprised if they didn’t come asking for concessions. The reason investors go for our convertible bonds or purchase our shares during tough times is because of our fiscal responsibility. Gary is walking a tight rope with a board and shareholders to answer to. I, for one, believe that every month is getting better and next year will look different. Bastian is predicting that Delta will be cash burn zero by spring. If they are, then we will be also. I believe that VSP, EXTO, ETO, and natural attrition will leave us thin staffed by next summer. They want all pilots on hand in order to attack weaker airlines. Why furlough pilots in Jan when you are likely to need them 6 months later? It doesn’t make mathematical sense.
I understand that the company needs to be cautious and I respect the wording from the union. Deferments over concessions. History at other airlines has shown that the culture changes for the worse any time a concession is given or taken in a bankruptcy. A lot of efficiencies noticed due to motivated employees begin to disappear. So motivate us, treat us like investors in LUV. If they want us to invest 10% in our airline, then give us a chance to earn a rate of return on that investment with some form of stock/warrant/option. Some NO concessions folks may not entertain this, and I get that. But it’s all the language for me.