Any "Latest & Greatest" about Delta?
02-09-2015 | 10:24 AM
Banned
Joined: Jan 2013
Posts: 65
Likes: 0
From: NYC A320 FO
BAG HOLDER: An investor who is on the wrong side of a stock for an extended period of time, with the consistent belief that he or she is in fact correctly predicting its direction, despite strong evidence to the contrary. Typically, this person loses most or all of his or her money in the process. -Urban Dictionary
The concession we have collectively agreed to make (and seem content to continue to make) with regard to Profit Sharing is that it can go from "Shock & Awe" to Blink and Yawn. Buy Low. Sell High.
The concession we have collectively agreed to make (and seem content to continue to make) with regard to Profit Sharing is that it can go from "Shock & Awe" to Blink and Yawn. Buy Low. Sell High.
02-09-2015 | 10:28 AM
Banned
Joined: Jan 2013
Posts: 65
Likes: 0
From: NYC A320 FO
02-09-2015 | 10:34 AM
Gets Weekends Off
Joined: Jun 2007
Posts: 1,207
Likes: 0
From: CA
1. Its in the corporate by laws not their contract. They get it whether they like it or not. Current management holds it over their heads. To paraphrase one of my several "A" friends there: We demand a pay raise, management counters by implying profit sharing makes up for less in pay rates.
2. Its capped to IRS limits. I'll never make enough for this to matter but for many of them 9.8% (this year) puts a number of their A's into the cap and they get cutoff.
02-09-2015 | 10:36 AM
Gets Weekends Off
Joined: Feb 2014
Posts: 463
Likes: 0
02-09-2015 | 10:40 AM
Banned
Joined: Jan 2013
Posts: 65
Likes: 0
From: NYC A320 FO
02-09-2015 | 10:53 AM
veut gagner à la loterie
Joined: Apr 2008
Posts: 23,286
Likes: 0
From: Light Chop
Now, let's talk about "At Risk" pay, vs. a "Pay Raise".
I don't want to trade one for the other, because it is self correcting. If we get a big pay raise, that will come out of the profits, i.e. the overall profit will be lower, due to 'costs' going up.
So we in effect are already trading one for the other, why should we pay for a pay raise, twice??
When it comes to, "Do you want a pay raise or profit sharing?" my answer is, I want BOTH.
When Delta was going into bankruptcy, and again on the way out, they asked us to give BOTH, our DB plan AND TWO PAY CUTS. Not one or the other, BOTH.
As is being pointed out by our LEC guys, Profit Sharing is "At Risk", so you cannot count on that as a substitute for a pay raise, it's not. It's 'at risk' pay. We need to return our regular pay to at least 2004 levels, add in some inflation, and KEEP profit sharing untouched, since we never know how much it will be.
I don't want to trade one for the other, because it is self correcting. If we get a big pay raise, that will come out of the profits, i.e. the overall profit will be lower, due to 'costs' going up.
So we in effect are already trading one for the other, why should we pay for a pay raise, twice??
When it comes to, "Do you want a pay raise or profit sharing?" my answer is, I want BOTH.
When Delta was going into bankruptcy, and again on the way out, they asked us to give BOTH, our DB plan AND TWO PAY CUTS. Not one or the other, BOTH.
As is being pointed out by our LEC guys, Profit Sharing is "At Risk", so you cannot count on that as a substitute for a pay raise, it's not. It's 'at risk' pay. We need to return our regular pay to at least 2004 levels, add in some inflation, and KEEP profit sharing untouched, since we never know how much it will be.
So right now to me GM is less that current plus profit sharing and is more at risk in a downturn.
02-09-2015 | 10:54 AM
Gets Weekends Off
Joined: Jun 2007
Posts: 1,207
Likes: 0
From: CA
My source for "1." is a lifelong friend and "A" at Southwest
and for "2" a post to the SWAPA message boards (lengthy and I didn't have permission to copy) comparing Delta PS to Southwest PS.
02-09-2015 | 11:08 AM
Back on TDY
Joined: Apr 2008
Posts: 12,487
Likes: 0
From: 747-400 Captain
Don't sweat it shoelu. IAV84DAL has been banned a bunch for being a troll and using multiple screen names. He's here for one purpose only and that is to aid management into making pilots believe that profit sharing isn't worth fighting to keep. Management will have a nearly impossible task taking it away, so their tactic now is to get us to relinquish it voluntarily. IAV84DAL is here to facilitate that effort on behalf of management. When he spoke about your plan, he was just pulling it out of his backside. You corrected him, but it won't matter. He's here on behalf of a specific agenda.
Carl
Carl
02-09-2015 | 11:17 AM
Banned
Joined: Jan 2013
Posts: 65
Likes: 0
From: NYC A320 FO
5. The Company will maintain a tax-deferred "415-Excess Plan," Under the 415-Excess Plan, the Company will allow up to fifty million dollars ($50 million) in Employee contributions to be placed in a tax-deferred rabbi trust, with investment elections.
02-09-2015 | 11:19 AM
Banned
Joined: Jan 2013
Posts: 65
Likes: 0
From: NYC A320 FO
Don't sweat it shoelu. IAV84DAL has been banned a bunch for being a troll and using multiple screen names. He's here for one purpose only and that is to aid management into making pilots believe that profit sharing isn't worth fighting to keep. Management will have a nearly impossible task taking it away, so their tactic now is to get us to relinquish it voluntarily. IAV84DAL is here to facilitate that effort on behalf of management. When he spoke about your plan, he was just pulling it out of his backside. You corrected him, but it won't matter. He's here on behalf of a specific agenda.
Carl
Carl
Thread
Thread Starter
Forum
Replies
Last Post
