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Originally Posted by buzzpat
(Post 1281167)
True but the new TA profit sharing adjustments, for us, don't kick in until a year from Jan 13. We're still under the old arrangement. That is, our previous percentages apply this coming January. The TA PS kicks in Jan of 2014.
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Originally Posted by Check Essential
(Post 1281152)
Not exactly true.
We might have taken a big hit on the profit sharing for this year. Depends on the level of profits. Read the fine print. We still get the 15% this year but the 20% doesn't kick in until profits reach $2.5 billion. It used to start at $1.5 billion in the previous contract. It will be interesting to see how much we gave back with that item. It will be REALLY interesting in 2013 when the 15% drops to 10%. That little detail could cancel out our entire 4,8,3,3 "raise". The raising of the trigger for 20% profit sharing came with the JCBA. Standalone Delta's trigger was 20% above $1.5 billion in PTIX, but Delta was only a $19 billion revenue as a standalone company in 2007. The increased profit sharing would have come when pretax income equaled about 8% of revenue. Adding in NWA's $13 billion in revenue changed that equation. Increasing the 20% trigger to $2.5B adjusted the profit sharing payout to the same ratio (about 8%) as we had pre-merger. So it's not like you describe it at all. |
Originally Posted by tsquare
(Post 1281111)
Yeah I was yankin your chain. I don't think the alums would let him be hired in Knoxville. If coach DD gets the ax, it will spell a few more years of mediocrity in Big Orange Country.
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Originally Posted by KC10 FATboy
(Post 1281088)
I'm not going to argue because we're friends. hahaha ... but I have seen the autopilot come off without under running the tanker. I shudder to think what would have happened had we under ran the tanker and that autopilot came off. That would not have had a good outcome.
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Originally Posted by slowplay
(Post 1281195)
Nope.
The raising of the trigger for 20% profit sharing came with the JCBA. Standalone Delta's trigger was 20% above $1.5 billion in PTIX, but Delta was only a $19 billion revenue as a standalone company in 2007. The increased profit sharing would have come when pretax income equaled about 8% of revenue. Adding in NWA's $13 billion in revenue changed that equation. Increasing the 20% trigger to $2.5B adjusted the profit sharing payout to the same ratio (about 8%) as we had pre-merger. So it's not like you describe it at all. Check's numbers are right out of the section 3 profit sharing tables. How is it not like he describes at all? |
Originally Posted by scambo1
(Post 1281211)
Slow;
Check's numbers are right out of the section 3 profit sharing tables. How is it not like he describes at all? His post is based on misinformation. Pay rates in 2013 will be 17.35% higher than they were in 2011. That's over a $300 million per year increase rolled up paid and compounded yearly. Last year's profit sharing portion for pilots was about $90 million all-in. So in 2014 should we have an equivalent year to 2011's PTIX we will have given up $30 million in profit sharing and our pay would be up over $220 million. And if some external event caused us not to make a profit, we'd still be up over $220 million. |
disregard, there is a commentary and I'm sure plenty of info in that YouTube comment section. ah the YouTube comment section... |
Originally Posted by slowplay
(Post 1281215)
Go back and read his post. His says the change was "this year." It wasn't. He said the last PWA changed the 20% target. It didn't.
His post is based on misinformation. Pay rates in 2013 will be 17.35% higher than they were in 2011. That's over a $300 million per year increase rolled up paid and compounded yearly. Last year's profit sharing portion for pilots was about $90 million all-in. So in 2014 should we have an equivalent year to 2011's PTIX we will have given up $30 million in profit sharing and our pay would be up over $220 million. And if some external event caused us not to make a profit, we'd still be up over $220 million. I'm not following your math on the pay increases though. And we're talking about 2012 profit sharing so its a bit deceptive to use the 2013 pay rates. And barring externalities 2013/2014 profits may very well blow away 2011 PTIX. Far from "equivalent". I will give you that last point however. Profit sharing is only good if there is a profit to share, and that's never guaranteed in this business. I mainly just wanted to toss out a subtle reminder that even our little 4,8,3,3 pay raises came at a significant cost. The old "what are you willing to give up for that" rears its ugly head. We gave up a large chunk of our profit sharing. And that could be a pretty big number if we have many more "blowout" quarters like the current one Anderson described in the LCA meeting. (oops, are we now allowed to say what happened in that meeting?) I think those management boys walked out of the C2012 compensation talks after we settled for 4,8,3,3 and they recaptured the profits and they used one of my favorite lines from one of my favorite movies. "Whooped 'em again didn't we Josie?" http://thecia.com.au/reviews/o/image...ey-wales-3.jpg |
Originally Posted by Check Essential
(Post 1281253)
I think those management boys walked out of the C2012 compensation talks after we settled for 4,8,3,3 and they recaptured the profits and they used one of my favorite lines from one of my favorite movies.
"Whooped 'em again didn't we Josie?" |
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