FDX Excess bid financial dilemma
04-13-2008, 01:53 PM
#11
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Joined APC: Jul 2006
Position: 767 Cap
Posts: 1,306
Originally Posted by Left Coast MD11
I have a question that might affect a lot of guys too.
A DC-10 S/O is awarded MEM 757 CA on the last bid (couldn't hold a WB on last bid). Is he eligible to be excessed from the DC-10 S/O to a MD-11 or Airbus left seat OR since he held MEM 757 on the last bid, is he comitted to his training date on 757 and not eligible to be excessed?
A DC-10 S/O is awarded MEM 757 CA on the last bid (couldn't hold a WB on last bid). Is he eligible to be excessed from the DC-10 S/O to a MD-11 or Airbus left seat OR since he held MEM 757 on the last bid, is he comitted to his training date on 757 and not eligible to be excessed?
Another thought, since CDG is cancelled, all the MEM 757 guys should be entering training a lot quicker than they expected.
04-13-2008, 04:30 PM
#12
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Joined APC: Sep 2006
Position: DC-10 S/O, forever.
Posts: 116
My two cents...Since we're in uncertain times I'd hold off on the house. I bet it's not the last house on earth, there will be others coming along. Stay wth what you have or find another "F/O house"....you'll sleep alot better on those nights when you're not hub turning.
04-13-2008, 05:09 PM
#13
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Joined APC: May 2006
Posts: 2,889
Is backing out and waiting another 60 days out of the question? In this market I doubt someone is there to snatch up your dream house out from underneath you. Worst case is you wait 60 days, and buy with a bit more clear crystal ball. Best case is the price drops again or you hold off and save yourself a serious pinch. If you lose this house--there will be others. There aren't a lot of guys right now making wide-body pay that have the confidence to plunk down for a new house.
If you just gotta buy something, however, I got a nice bayfront rental house on St Andrews Bay--zoned mutli-use/commercial. Now THAT would be a great investment for someone like you!
Seriously--how bad do want to "house poor"? BLGs are trending down, and we haven't gotten much good news in a while.
If you just gotta buy something, however, I got a nice bayfront rental house on St Andrews Bay--zoned mutli-use/commercial. Now THAT would be a great investment for someone like you!
Seriously--how bad do want to "house poor"? BLGs are trending down, and we haven't gotten much good news in a while.
04-13-2008, 05:21 PM
#15
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Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,418
If the house you are buying has you so maxed out that you can't take a cut down to NB Capt pay.....assuming that's where you'd be excessed to.
OR,
you don't have enough savings for the 3 to 9 mo's of living expenses most financial adviser's recommend ($$$ that you could use to supplement the reduced income for the lean years)
then you shouldn't be buying the house in the first place.
Mortgage payments should be in the 25-29% of your take home income. More than that, or you're making payments on 2 new cars, your closer to the abyss than you should be
OR,
you don't have enough savings for the 3 to 9 mo's of living expenses most financial adviser's recommend ($$$ that you could use to supplement the reduced income for the lean years)
then you shouldn't be buying the house in the first place.
Mortgage payments should be in the 25-29% of your take home income. More than that, or you're making payments on 2 new cars, your closer to the abyss than you should be
04-13-2008, 08:55 PM
#16
"blue collar thug"!
Joined APC: Nov 2006
Position: A proponent of...
Posts: 1,614
My crystal ball says pay off all debts ASAP, and hope that after the elections, the bottom doesnt REALLY fall out. With the FED printing $$ like they do, and the Govt borrowing from the Chinese and others to fund the over spending, I think it is going to get lots worse before it gets better. Just my take though!
04-14-2008, 04:00 PM
#19
Nice lookin' tree, there!
Joined APC: Sep 2006
Position: MD-11, old man
Posts: 2,198
Originally Posted by Overnitefr8
OK guys, this announcement couldn't come at a worse time. Or maybe it is for the better. I'm supposed to sign a contract on a home tomorrow. I am about 50 - 60 from the bottom of the Airbus captains list. If I were to get excessed off the bus left seat, I probably wouldn't be able to afford the house.
What's everyone's guess? Will there be an excess on the Bus, and how far up will it go? I realize your guess is as good as mine, except for the few on here that have all the inside scoop.
What's everyone's guess? Will there be an excess on the Bus, and how far up will it go? I realize your guess is as good as mine, except for the few on here that have all the inside scoop.
fbh
04-14-2008, 05:49 PM
#20
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Joined APC: Sep 2006
Position: Retired
Posts: 3,717
I've not done the math, but it seems to me that the difference between a junior widebody captain, on reserve, vs a more senior narrowbody captain, not on reserve, (and thereby with 4 or 5 additional days off a month to fly extra if it's available) is less than $2500 a month. You do have the choice, if you're excessed off the bus, to go to any seat your seniority can hold. You should be able to make the same, if not more, in the left seat of the Boeing. Granted you'd put in more time, but if the new house is something you just can't live without, that is an option. Personally, I'd look for a house I could more easily afford on a lesser salary, and then bank the difference.
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