New Video from MEC
03-24-2019, 04:57 PM
#31
Gets Weekends Off
Joined APC: Apr 2014
Position: Widget Jet
Posts: 765
I never said I’m for restoration of the pension. I made that clear in my surveys. Pensions don’t work. When the company falls of hard times they stop funding them and get behind. Then the company falls on harder times and they’re the first thing gone. Even though Buck thinks otherwise, I was here to watch them go away. Pensions are dead... I do expect better work rules, pay and ancillary improvements to name a few. Like I said earlier when Buck lost his stuff, I’m not willing to play JV. The company is killing it. There’s no reason we can’t get something finished quick and fair. You know Buck... those sacrifices WE made.
03-24-2019, 06:21 PM
#35
Gets Weekends Off
Joined APC: Oct 2009
Posts: 3,108
Originally Posted by DWC CAP10 USAF
The entire purpose of any company is to take the money from the shareholders and generate a profit on their investment.....they kind of have to pay the shareholders their profits. It's how an actual business works.
I ran my own business before joining Delta, and if I had to choose between paying my investors back or trying to make my employees the heightest paid wokers in the industry, I think you can guess which one I actually did.
You can't just say "they should be able to pay"....prove it!
Here are the numbers I came up with, my bar napkin very basic assumptions keeping everything in today's dollars to KISS:
- I used the retirement numbers per year from APC
- I used the heightest current pay rate (A-350 at $354 per hour and 1,000 hours of pay for the year. This equals $354,000, so 60% FAE would be $212,400.
- I assumed each pilot works all the way to 65, then lives for 25 years. So the "worst" year for the company in terms of amount paid out per year would be year 25: its the last year before the first round of guys die, and its the first round of payments to the guys just starting out....that year alone the company would have to pay $2.5B just in pensions, or 1/2 of the profit we made this year.
During the first 25 years, the company would pay out $37.5B in retirement payments, and that's just to the folks on the list right now for the next 25 years....no retro for those already retired.
If the company has to make those payments, then what aren't we getting....we aren't getting new planes paid for in cash...we aren't getting a new SEA, or a new LGA.
Or we would get those things by taking on huge amounts of debt...in which case, we become just like the financial sh!tshow that is AAL or UAL currently.
If the company stays strong, they stay in business, and if they stay in business, then we all continue to get paychecks...I like that!
I don't want to come across as being non-sympathetic to what happend to everyone....even though I've only been with the company two years, I have read up on my history best I could....mergers, bankrupcy, 9/11, age 60-65, furloughs, concessions to try to prevent bankrupcy....I get it, the guys that got hired at the "wrong" time got the short end of the stick at every down turn....some very sh!tty times indeed!
But you can't walk into the board room and say "Make all deadzoners whole" when no one can define who a deadzoner is, and what dollar amounts makes that person whole in their eyes.
Show me how the company keeps it current strong financial footing while making needed upgrades and buying new airplanes AND using 50% of profits to pay pensions....I just don't see the math working out.
I ran my own business before joining Delta, and if I had to choose between paying my investors back or trying to make my employees the heightest paid wokers in the industry, I think you can guess which one I actually did.
You can't just say "they should be able to pay"....prove it!
Here are the numbers I came up with, my bar napkin very basic assumptions keeping everything in today's dollars to KISS:
- I used the retirement numbers per year from APC
- I used the heightest current pay rate (A-350 at $354 per hour and 1,000 hours of pay for the year. This equals $354,000, so 60% FAE would be $212,400.
- I assumed each pilot works all the way to 65, then lives for 25 years. So the "worst" year for the company in terms of amount paid out per year would be year 25: its the last year before the first round of guys die, and its the first round of payments to the guys just starting out....that year alone the company would have to pay $2.5B just in pensions, or 1/2 of the profit we made this year.
During the first 25 years, the company would pay out $37.5B in retirement payments, and that's just to the folks on the list right now for the next 25 years....no retro for those already retired.
If the company has to make those payments, then what aren't we getting....we aren't getting new planes paid for in cash...we aren't getting a new SEA, or a new LGA.
Or we would get those things by taking on huge amounts of debt...in which case, we become just like the financial sh!tshow that is AAL or UAL currently.
If the company stays strong, they stay in business, and if they stay in business, then we all continue to get paychecks...I like that!
I don't want to come across as being non-sympathetic to what happend to everyone....even though I've only been with the company two years, I have read up on my history best I could....mergers, bankrupcy, 9/11, age 60-65, furloughs, concessions to try to prevent bankrupcy....I get it, the guys that got hired at the "wrong" time got the short end of the stick at every down turn....some very sh!tty times indeed!
But you can't walk into the board room and say "Make all deadzoners whole" when no one can define who a deadzoner is, and what dollar amounts makes that person whole in their eyes.
Show me how the company keeps it current strong financial footing while making needed upgrades and buying new airplanes AND using 50% of profits to pay pensions....I just don't see the math working out.
By your numbers we saved management $37 billion when they stole our pensions.
But, but, but, but.....
Don’t have a heart attack Mr. Businessman. We want a fraction of that and I believe we will get it.
03-25-2019, 01:01 AM
#37
Gets Weekends Off
Joined APC: Oct 2009
Posts: 3,108
The Retirement and Insurance working group has done some incredible work in preparation for C2019. Reaching out to other pilot groups and financial industry experts. When the opener is released to the pilot group on April 5th, I believe all our pilots will be very pleased.
Retirement is sorely lacking for all the Delta pilots and we will make major gains in C2019.
Retirement is sorely lacking for all the Delta pilots and we will make major gains in C2019.
03-25-2019, 02:10 AM
#38
Banned
Joined APC: May 2018
Posts: 314
Originally Posted by Varsity
It would be nice if you guys could take back scope..
That plus a Skywest FA insisiting that the guy next to me was going to be removed from the airplane if he drank another bottle of his personal alcohol.
Andfddd he was shooting a 5 hour energy drink 😂
03-25-2019, 02:10 AM
#39
Gets Weekends Off
Joined APC: Sep 2014
Posts: 837
Originally Posted by gzsg
The Retirement and Insurance working group has done some incredible work in preparation for C2019. Reaching out to other pilot groups and financial industry experts. When the opener is released to the pilot group on April 5th, I believe all our pilots will be very pleased.
Retirement is sorely lacking for all the Delta pilots and we will make major gains in C2019.
Retirement is sorely lacking for all the Delta pilots and we will make major gains in C2019.
03-25-2019, 03:09 AM
#40
Gets Weekends Off
Joined APC: Apr 2016
Position: Looking left
Posts: 3,251
Originally Posted by gzsg
You know what I love about your post?
By your numbers we saved management $37 billion when they stole our pensions.
But, but, but, but.....
Don’t have a heart attack Mr. Businessman. We want a fraction of that and I believe we will get it.
By your numbers we saved management $37 billion when they stole our pensions.
But, but, but, but.....
Don’t have a heart attack Mr. Businessman. We want a fraction of that and I believe we will get it.
You have a mole on the R&I Committee telling you whats in the opener, or just your gut feel?
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