In my understanding there's a big difference between wholly owned and contract carriers. I agree it equals fewer mainline jobs, which is not good for anybody. Most wholly owned employees understand that they're generating profit/reaping benefits of the same holding company that the mainline is. US Airways is also a wholly owned subsidiary of US Airways Group holdings, just like Piedmont and PSA are. We are all generating cash for the same company, and it's all going into one giant pot. Contract carriers are an entirely different beast.

While I agree it is not ideal to have regional airlines at all - and all the flying should be done by the mainlines - the fact is they do exist.

Finally, the vast majority of wholly owned pilots don't think they're entitled to anything. They just want to not be treated like a red headed stepchild. More often than not I think this occurs because mainline pilots don't know the difference between a wholly owned and a contract carrier, in which case it's much more productive to understand their point of view and educate them to the reality - if you do it right, they'll appreciate it and come away from the situation with a better understanding of the dynamics between the airlines.