Pilots bad. Pilots greedy. Union bad.
04-08-2020, 08:10 AM
#222
Gets Weekends Off
Joined APC: Aug 2013
Posts: 2,159
Originally Posted by AirbusPTC
We can debate the pros and cons of stock buybacks until we are blue-in-the-face, but the increased levels of debt can't be good for Delta. The stock buybacks are a complete public relations disaster as well as running the debt to equity to .92 is poor corporate governance.
EB and et al. publish a couple of employee handbooks. 1. Rules of the Road and 2. The Way We Fly.
Our Delta's leaders have violated both handbooks with the amount of debt they have accumulated over the last three years. Specifically: Rules of the Road, section one, paragraph D. Also the entire section Four of: The Way We Fly.
How can managers at Delta expect employees to follow the directives in the handbooks if management DOESN'T? They put our corporation at great risk, whether this black swan event happened or not. They publicly bragged about how strong Delta was while gutting us from the inside out.
EB and et al. publish a couple of employee handbooks. 1. Rules of the Road and 2. The Way We Fly.
Our Delta's leaders have violated both handbooks with the amount of debt they have accumulated over the last three years. Specifically: Rules of the Road, section one, paragraph D. Also the entire section Four of: The Way We Fly.
How can managers at Delta expect employees to follow the directives in the handbooks if management DOESN'T? They put our corporation at great risk, whether this black swan event happened or not. They publicly bragged about how strong Delta was while gutting us from the inside out.
My 2 cents is this: stock buy backs benefit management's stock options and the institutional investors they court.. There is a small group of folks that feel it's a strategic move to help prevent a hostile take-over. But, there aren't too many Gordon Gecko's around any more. The real thing we should be telling management is this: Save up for a rainy day. and have access to cash via a substantial line of credit. It could be a pandemic, a public health crisis, or a national security event, or a global security threat. Those are all possibilities, and all require an executable plan.
Stock buy-backs don't figure into any of those plans. We can reasonably predict some sort of major crisis every 20 to 30 years. managements need to have plans ready and actionable when the balloon goes up. This profession hasn't been made whole since 9-11 and the airline pilots who staff it must sacrifice allot to get here and to stay here. Without pilots to staff the airline and to keep it staffed, you don't have an airline. Best to plan for the future. History has a way of repeating itself, even if the circumstances are not identical, the ramifications after the fact most certainly follow a predictable pattern.
04-08-2020, 09:45 AM
#227
Gets Weekends Off
Joined APC: Apr 2018
Posts: 3,191
Originally Posted by tennisguru
Well Ed finally came around a bit on the pilot's contributions to cost savings on today's town hall. At least it was a much nicer tone.
Not being snarky, just ignorant. Have we given any pilot contributions to cost savings other than Apr rebid since COVID-19 hit the fan?
04-08-2020, 09:47 AM
#228
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,567
Originally Posted by Buck Rogers
Not being snarky, just ignorant. Have we given any pilot contributions to cost savings other than Apr rebid since COVID-19 hit the fan?
04-08-2020, 09:49 AM
#229
Gets Weekends Off
Joined APC: Apr 2018
Posts: 3,191
Originally Posted by tennisguru
Not really, although we are taking effective pay cuts since ALV's are bottoming out across most fleets compared to where they would be under normal flying.
Thanks, wanted to make sure I didn’t miss something. And, tru dat on the ALV reductions!
04-08-2020, 01:09 PM
#230
Gets Weekends Off
Joined APC: May 2012
Posts: 1,128
Originally Posted by Buck Rogers
^^^^^^^^^^^^^^^^
Wow, look at that. Waldo and m311 see the same world 180 degrees apart. Hmmm... maybe it’s not black and white?
Wow, look at that. Waldo and m311 see the same world 180 degrees apart. Hmmm... maybe it’s not black and white?
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