Any "Latest & Greatest" about Delta?
04-24-2014 | 04:50 AM
Gets Weekends Off
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From: Decoupled
91 percent of the pilots elected to sell via the claim. Those pilots never received any shares. If you got shares then you were part of the 9 percent who elected to receive stock. The claim was sold for just under 1.2 billion dollars. That was if I recall 5 percent of the company. It was the equivalent to about 21 a share.
The second distribution was not released to the membership until the stock award had sunk from 12 to 4.26. The second stock award was given to all employees. The non-contract employees had control of their awards immediately. DALPA decided that they could do better and took control of the block of stock. They didn't do better. They cost us a lot of money as the stock market cratered.
Hind sight is 20/20. But, I would have sold mine immediately at 12 and invested elsewhere. Instead, DALPA cost me $8 per share. That still ****es me off.
What is different about the two distributions. The first had everything to do with us and I guess it was appropriate for DALPA to try to get us a block sale. The second distribution was company wide and really had nothing to do with DALPA. (I will concede that no one would have gotten this if DALPA hadn't negotiated it.) It should been distributed to us to control when it was distributed to the rest of the Company. It was a bad decision on the part of DALPA.
04-24-2014 | 04:53 AM
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From: Decoupled
The second block was company wide, issued after IPO. The stock was trading at $12. We got control of our shares at $4.26.
We are talking about two different events.
04-24-2014 | 04:56 AM
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Timbo's claim was less because he was younger. There was an age component to the silos. Timbo and I were punished because we were younger.
There were guys in my training class that received three times more than I did because they were older. We were punished because a time value of money assumption was integrated into the silos.
It was age discrimination and it did not factor exposure to market risk into the equation.
This is part of the angst of the deadzoner. Lots of time vested in the retirement plan and a smaller payout due to age.
There were guys in my training class that received three times more than I did because they were older. We were punished because a time value of money assumption was integrated into the silos.
It was age discrimination and it did not factor exposure to market risk into the equation.
This is part of the angst of the deadzoner. Lots of time vested in the retirement plan and a smaller payout due to age.
04-24-2014 | 04:57 AM
Runs with scissors
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From: Going to hell in a bucket, but enjoying the ride .
OK, now that we've got that all sorted out...
Can we go back to talking about where the $444 Million this quarter actually came from?
Pat yourselves on the back boys, most of that came from YOUR C2K pay rates and retirement money!
Can we go back to talking about where the $444 Million this quarter actually came from?
Pat yourselves on the back boys, most of that came from YOUR C2K pay rates and retirement money!
04-24-2014 | 05:01 AM
Line Holder
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From: C560XL/XLS/XLS+
You're correct there was a age component. I was also hired young and took a big hit however I believe the earnings number used was 8 percent per year to make the age adjustment. I have done much better then 8 percent. I have had several so called experts run my numbers. At age 60 I should have about 80 cents on the dollar compared to the original retirement plan and it's all in my name. Some pilots who invested better then me are claiming they will be better off. I just gave the money to financial engines.
04-24-2014 | 05:02 AM
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You are correct, I forgot about the other award. It was however a much smaller amount.
04-24-2014 | 05:04 AM
Runs with scissors
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From: Going to hell in a bucket, but enjoying the ride .
More record earnings, here's a quick quote from American's quarterly report, suddenly Richard doesn't look like such a genius any more, if these guys are spitting out the same numbers prior to their full integration.
Oh, and despite all the dire claims from AA's management, that their Pilots had to flush their retirement plan or else they'd liquidate, um...seems they survived after all, and they kept their retirements:
Eps 0.65 vs est 0.48
Today we announced our first quarter 2014 financial results. Like last quarter, we’ll compare year-over-year results for American Airlines and US Airways on a combined basis, which is a non-GAAP (Generally Accepted Accounting Principle) formulation using AMR Corporation and US Airways Group. We’ll continue to report our results on a non-GAAP basis until 2015 when we have a true apples-to-apples comparison of our performance on a year-over-year basis. On to the numbers!
For the first quarter, I’m pleased to report a record first quarter net profit of $402 million excluding net special credits. In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did. This is up significantly from a combined non-GAAP net profit of $62 million excluding net special charges for the same period of 2013.
Oh, and despite all the dire claims from AA's management, that their Pilots had to flush their retirement plan or else they'd liquidate, um...seems they survived after all, and they kept their retirements:
Eps 0.65 vs est 0.48
Today we announced our first quarter 2014 financial results. Like last quarter, we’ll compare year-over-year results for American Airlines and US Airways on a combined basis, which is a non-GAAP (Generally Accepted Accounting Principle) formulation using AMR Corporation and US Airways Group. We’ll continue to report our results on a non-GAAP basis until 2015 when we have a true apples-to-apples comparison of our performance on a year-over-year basis. On to the numbers!
For the first quarter, I’m pleased to report a record first quarter net profit of $402 million excluding net special credits. In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did. This is up significantly from a combined non-GAAP net profit of $62 million excluding net special charges for the same period of 2013.
04-24-2014 | 05:07 AM
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Also, our DB plan had already been "frozen". My final numbers on that was a lump sum of a little north of $580k, and a monthly annuity of around $5200. My PBGC at 65 will be more. My MPPP and other investments are now more than that $580k lump sum. So yes, I am actually now better off.
04-24-2014 | 05:10 AM
Gets Weekends Off
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More record earnings, here's a quick quote from American's quarterly report, suddenly Richard doesn't look like such a genius any more, if these guys are spitting out the same numbers prior to their full integration.
Oh, and despite all the dire claims from AA's management, that their Pilots had to flush their retirement plan or else they'd liquidate, um...seems they survived after all, and they kept their retirements:
Eps 0.65 vs est 0.48
Today we announced our first quarter 2014 financial results. Like last quarter, we’ll compare year-over-year results for American Airlines and US Airways on a combined basis, which is a non-GAAP (Generally Accepted Accounting Principle) formulation using AMR Corporation and US Airways Group. We’ll continue to report our results on a non-GAAP basis until 2015 when we have a true apples-to-apples comparison of our performance on a year-over-year basis. On to the numbers!
For the first quarter, I’m pleased to report a record first quarter net profit of $402 million excluding net special credits. In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did. This is up significantly from a combined non-GAAP net profit of $62 million excluding net special charges for the same period of 2013.
Oh, and despite all the dire claims from AA's management, that their Pilots had to flush their retirement plan or else they'd liquidate, um...seems they survived after all, and they kept their retirements:
Eps 0.65 vs est 0.48
Today we announced our first quarter 2014 financial results. Like last quarter, we’ll compare year-over-year results for American Airlines and US Airways on a combined basis, which is a non-GAAP (Generally Accepted Accounting Principle) formulation using AMR Corporation and US Airways Group. We’ll continue to report our results on a non-GAAP basis until 2015 when we have a true apples-to-apples comparison of our performance on a year-over-year basis. On to the numbers!
For the first quarter, I’m pleased to report a record first quarter net profit of $402 million excluding net special credits. In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did. This is up significantly from a combined non-GAAP net profit of $62 million excluding net special charges for the same period of 2013.
04-24-2014 | 05:12 AM
Runs with scissors
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From: Going to hell in a bucket, but enjoying the ride .
American's DB plan was well funded. There was no legal basis at all for its termination. It was not even considered in distress. Other then a few verbal statements no attempt was made to terminate the plan since it would not meet any legal test. Our plan was in a very different financial situation.
Do you remember why American Airlines, one of the Founding members of ALPA, left ALPA?
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