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Originally Posted by slowplay
(Post 1282877)
You quoted a guy on my "ignore" list. 80/Purple's posts don't reach me, as I'm choosing not to respond to people who can't put substance into a discussion. If they want to play with that level of immaturity they can join the Fielding Follies in Hangar Talk. Not worth my time.
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Originally Posted by slowplay
(Post 1282877)
You quoted a guy on my "ignore" list. 80/Purple's posts don't reach me, as I'm choosing not to respond to people who can't put substance into a discussion. If they want to play with that level of immaturity they can join the Fielding Follies in Hangar Talk. Not worth my time.
Management is in a tough spot with their short term mentality owners/potential investors. They didn't hit the consensus earnings per share (missed by a penny) and their costs are growing while some of their major competitors have declining costs (see LCC). They won't see the real positives from the business plan until 2014, so they're trying to paint a picture these quarter to quarter guys with ADD can understand. I'm sure our management is quite frustrated. They report a Q3 GAAP profit of over $1 billion. UAL reported a GAAP profit of $6 million. Now GAAP isn't real money (it takes into account out of period hedges and special items that may or may not impact real cash), but by almost every measure we're outperforming our large rivals (SWA, UCAL, AMR). Yet we're not getting significat differentiation in stock price performance. We trade at a low multiple, SWA trades at 14.5 earnings. We track with our group about 80%. Management wants (and it would be good for us too) differentiation and the financial flexibility that comes with that. I've been floored by our stock price changes since the earnings call. Our management team is pretty much screwed if they do, and screwed if they don't. Like you said, they miss EPS by 1 freaking penny. DAL had perhaps the smoothest merger in airline history. DAL has lead the industry in capacity discipline. DAL is aggressive in all cost factors, yet these quarter to quarter guys continue to hammer our stock. :confused: |
Originally Posted by johnso29
(Post 1282888)
I've been floored by our stock price changes since the earnings call. Our management team is pretty much screwed if they do, and screwed if they don't. Like you said, they miss EPS by 1 freaking penny. DAL had perhaps the smoothest merger in airline history. DAL has lead the industry in capacity discipline. DAL is aggressive in all cost factors, yet these quarter to quarter guys continue to hammer our stock. :confused:
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Originally Posted by slowplay
(Post 1282860)
I don't recall you providing suggestions for an alternative path with a probablility of success. Did you? I sure hope you don't suggest the CMR model...:rolleyes:
Our pay is way below where I want it to be. I haven't accepted a "reset." But we live in a tough neighborhood. The great SWAPA didn't get a pay raise this year. They're past their amendable date with no progress. A Delta A320 Captain makes $50/hr more than a UAL A320 Captain. APA was first to the concession stand and is now "fighting" for survival under a rejected agreement But the Delta pilots and their agreements which you deride have put additional money in our pocket every year since bankruptcy. And our management was in front of Wall Street on Wednesday defending against the cost increases those agreements provide. btw, the regional segment is still living with the CMR last gasp survival attempt. PCL restructured their 1113 bankruptcy demand after hearing what you CMR guys were willing to give up to try and keep a job. That increased PCL management's bankruptcy demand by 80%. Nice. And before you bull$hit a bull$hitter, you ought to know that one of my best friends was one of the CMR negotiators. I'm anxious to hear your facts on how Delta's final screwing of Comair has sent the rest of the regional industry into turmoil. |
Originally Posted by RJtrashPilot
(Post 1282893)
Could you please enlighten the rest of us on what was this last gasp survival attempt to which you refer? There was no TA, nor was there even an agreement in principle.
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Originally Posted by Boomer
(Post 1282843)
I believe you have as well. When DALPA took an offer, and the pilot group ratified it, you (collectively) told Anderson "We agree this is all we're worth when the company is making a profit."
Whatever debt Delta owed you guys from c2000 and bankruptcy (and I believe they still owed you plenty) - it was wiped clean when you passed the TA. The bar was lowered voluntarily. At this point, "We'll do better next time" is more intellectually honest than "They still owe us" The question is not whether we need to continue to raise our wages and benefits, the question is how. Right now, there is no one succeeding at raising the bar like Delta is. 35% in four years and you guys dismiss it as if it is nothing. On average Delta pilots have gained over 40% in four years that is 10+% per year. That is forum spin and completely ignores the real world that we actually live in. So while you guys preach all or nothing, you completely ignore how the all or nothing crowd has achieved...............nothing. If you had a batter that was hitting .400 and one that was batting .000 who would you take batting lessons from. Oh right, the one without a hit. |
Originally Posted by alfaromeo
(Post 1282897)
Intellectually honest is just more forum spin. In January, my pay will have gone up by $55,000 since bankruptcy. So when I hear this bankruptcy wages spin that's all I hear, spin. I know Donald Trump probably thinks $220,000 a year is chump money, but out in the real world there are only a few forum spinners that would refer to that as bankruptcy wages.
The question is not whether we need to continue to raise our wages and benefits, the question is how. Right now, there is no one succeeding at raising the bar like Delta is. 35% in four years and you guys dismiss it as if it is nothing. On average Delta pilots have gained over 40% in four years that is 10+% per year. That is forum spin and completely ignores the real world that we actually live in. So while you guys preach all or nothing, you completely ignore how the all or nothing crowd has achieved...............nothing. If you had a batter that was hitting .400 and one that was batting .000 who would you take batting lessons from. Oh right, the one without a hit. |
Originally Posted by alfaromeo
(Post 1282786)
Well, you are shooting the messenger and I pleaded with you not to shoot the messenger.
The real answer as to why we should be concerned about they think is that they own the company we work for. At some point, the owners could say no to this constructive engagement process and we could go back to the old ways. The owners (shareholders, institutional investors) by proxy and occasionally direct vote put their trust in the BOD, and the BOD in the CEO and elected company officers who negotiate with our counterparts across the table. The owners do not have a MEMRAT on our TA once management reaches a TA with us. I'm sure management is much more in tune with keeping the owners happy than we are, as their legal fiduciary responsibility is to the shareholders, as ALPA's is to the pilots. I would venture when we hit the "wall" reference negotiations we are coming up against that owner backstop of acceptability. Obviously we don't operate in a vacuum, however provided we are doing our part to push as hard as possible (and reasonable) for the pilot interests, I have full confidence that management will represent the shareholders. I find the continuous analogies of proactive engagement or end up like APA/AMR as specious. There is a continuum of responses from one end of the spectrum to the other - comparisons of polar opposites to validate your strategy are suspect as they leave no room for shades of grey or that we could have done more. What bothers me in your response, again very valid, is we seem too concerned with protecting shareholder value - which is after all managements job - and leaves me wondering if we pushed hard enough, i.e., hit the "wall" for ours. It's water under the bridge now, but we will be negotiating again over FTDT, before 2015 amendable date, and sooner if there is a transaction type JCBA - I want to be sure we are pushing as hard as possible/practical and not empathizing too much with shareholder/management issues, which they represent themselves quite well with, and with considerably more assets than we have, all the while being cogent of the points you mention. (Short version: help goose lay more eggs, make sure we get our share of extra eggs, let farmer worry about how many eggs he has to sell at market :cool:) |
Originally Posted by slowplay
(Post 1282895)
Since you were there, you can ask your BFF. Or you can ask a PCL MEC member that just got finished with their 1113C hearing.
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Originally Posted by slowplay
(Post 1282895)
Since you were there, you can ask your BFF. Or you can ask a PCL MEC member that just got finished with their 1113C hearing.
I abhor the smiley things, but in the spirit of preserving the peace since this was a light-hearted comment: :D ...and BFF...really?? |
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