Just my 2 cents.
4a2b is a very noble position that no one thought would be implemented. There is no way we could have foreseen the retirement age change combined with the company's foolish decision to favor some of the "senior" mgt buds by cancelling a bid in order to allow them to bid back to window seats at higher rates of pay. Then, to add a bit of salt to the wound, the economy imploded.
shipping volumes dropped, and here we are with a bunch of the crew dawgs at the top of the Capt pay chart versus the top of the SO pay chart.....exacerbating the precipitous drop of revenue resulting from the global implosion of the financial market.
Keep in mind, barring the one time charges of us giving back some planes, FedEx made $$. True, not as much as we thought we were going to make when the company cancelled the bid to get their "boys" back into window seats. But we made money. Some slick goombah pointed out that there are no trigger events, shared sacrifice, financial indicators in 4a2b and that if the company implemented 4a2b a bit more money could be made.
Bottom line is the company did it because they could. Only goal words in 4a2b, no 4a2b only implemented when dividend rate cut in half or suspended, no 4a2b only implemented in survival mode when other employee groups pay cut commensurate with that of 4a2b. No trigger events for when to exit 4a2b.
After learning a bit more about arbitration in our business, IMO, the arbitrator is stalling in hopes that we settle because he doesn't want to rock the boat huge in hopes of future business from the company. That being said, I think it is unlikely that we will recoup all of our back pay. Beginning to think the best we might get is having 4a2b eliminated from the contract. Perfect world would be an expansion of 4a2b to include some of the shared sacrifice verbiage that's been bandied about here.
Which leads me to C/O. I think it would be great if C/O was capped during 4a2b, but it's not. I think it would be great if everyone protected min days off, but the 1 or 2 day C/O trips I've wound up with over the past year or so don't trigger min days off and aren't dropped.
IMO C/O makes the company financially stronger. The guys it really hurts are those sitting in the pool, but that has been the norm for FedEx throughout most of our flying history. Because the company is financially stronger, it benefits me, eventually. As we move towards negotiating our next contract, how strong is the company's likely position that they're paying too much for pilots given the market rate of pilot salaries in the US? How can you be paying us too much when even during the worst economy in decades, FedEx made money? And part of the reason we made money is C/O, guys trading up their schedules, and the change in the make up window. Pretty much every day there are 3-5 trips that would have been assigned to a reserve guy in our previous contract, and most of those trips are gone by the time the assignment window opens up. IMO, the elimination of the 48 hour window is one of the main reasons the company has reduced the reserve manning levels which allows them to spread the flying across more bodies which makes their 4a2b argument stronger.
As far as the pension goes, far as I'm concerned my pension is maxed out now at the FO level. Anything I make beyond it is gravy. Assuming there's still a pension when I retire of course. No guarantees out there that some future economic storm isn't going to result in FedEx handing the pension off to the PBGCC. IF that happens, something I believe to be highly unlikely, those guys working 75% of the month are going to be much more PO'd than I am.
Even beyond that, how hard do you want to work to complicate your taxes. No crystal ball here, but it's starting to look like I'm going to be working even less than I do now assuming I'm fortunate enough to upgrade to Capt in the next few years.