The table from their 10-K is for ALL employees pension plans at FDX. The last numbers I saw for the pilot's pension plan showed an over funding. In other words, extremely healthy. Maybe a FDX guy could clarify.

I really liked this from their statement however:

"We assumed a 7.75% expected long-term rate of return on our U.S. Pension Plan assets in 2014 and 8% in 2013 and 2012. The actual returns during each of the last three fiscal years have exceeded those long-term assumptions. For 2014, we lowered our expected return on plan assets assumption for long-term returns on plan assets to 7.75% as we refined our asset and liability management strategy."

Their entire corporate pension plans are 10% underfunded, and they've been steadily making over 8% for a while now. Absolutely great fund managers.

Anyway, FDX has healthy DB pensions for its pilots as well as industry leading compensation. I'd take their contract as is immediately. I'll bet they don't have purple slips either. :rolleyes:

Carl

Excellent post and (unfortunately) spot on.
As someone who went to ever Rally and Picketing event.. I will (probably) never do that again.
Why... because I saw first hand how my union didn't want to ruffle feathers and do anything that would be perceived as "illegal" or over the line.

Our hands are somewhat tied and for whatever reason, at the National Level they don't want to do anything that might lead to lawsuits and legal action.

I would have loved to have been arrested (and there were others in the crowd who said the same thing) when we were told that if we get together for a group photo during informational picketing at EWR [Continental Contract Talks] that we would be violating some sort of Port Authority Law.
Instead, we marched between the two terminals (at the employee bus stops! kid you not) and did nothing to advance our cause.

The system is against us. Didn't you guys get some court order for NOT picking up open time years ago?!
It is truly amazing that in this Free country of ours, you can be punished for not picking up volunteer flying.
Or for saying "Fly The Contract"

There has to be a reason why your management wants a new PWA so quickly. No reason to rush it from where I sit.. but then again, I'm not a Delta Pilot.

Stand Strong guys..
Motch

I don't think I've ever seen Scambo say anything like this to anyone. It'd take a real peace of work to tick him off.

Good job Trip7... :rolleyes:

What are the chances that Trip7 is the latest incarnation of Bill Lumberg?

Carl

"Last numbers I saw".... Evidence or it's just your flawed opinion.

Having a healthy pension plan is not the same as overfunded.

Don't attempt to deflect away from your original claim. You were incorrect in your statement.

Are you sure about that? I think Nov effective date for 5:15 was in the original TA. I thought the item that changed for dropping the CDOs was something about reserve notification (13 hours to 12 hours, or vice versa?). I think he's right--we stood up to the company after they and DALPA worked silently on the CDO plan and when there was outrage voiced (i.e. "Don't sign this!!!!!") they quickly realized the angst they were facing and effected the needed change. Proof that when we're unified we can get the company to come back quickly with a better offer.
------ Added-----
Read a follow on post and saw that it was LC that went from 12 to 13 hours. Why we gave the company that in return for removing CDOs we were told they (CDOs) were part of the TA (because a small group in one of the LECs had asked for it) I'll never know. Seems like it would have been easy enough to just scratch it off. But apparently a sub group wanted them and then when our union said "never mind, turns out this surprise we've been waiting to spring on 98% of our group isn't a big hit." the company answered with "What will you give up to get it taken off the TA?" [Please tell me our NC is better than that, right? I mean, I'm poking a stick and intentionally trying to get a reaction; no way we took on more LC to get something taken off that we asked for in the first place, right?*] Either way, my original point: I don't think we agreed to move the 5:15 effective date to Nov to get rid of the CDOs. If so, bad on us for being so easy to play.

*Forum Poster/DALPA dues payer purview due to the fact that I don't get to know what our NC went in with asking, nor what the company asked/offered, nor what our survey results are. Basically, I'm left in the dark so I'm allowed to imagine the worse. Don't like it? Throw me a bone. Need me the info.

This is no better than hearsay, but while at the training center several months ago, I was told that RA told members of the training team "he didn't want to touch profit sharing" and hoped it would just remain as is. Is there evidence otherwise?

He didn't speak about profit sharing at my team's meeting, but said that keeping us the best paid was an important investment he believed in.

Just made it to Queenstown, New Zealand today after 4 days on the north island.

If any of you guys and gals have thought abut coming down, here... do it! Everything about this place is beyond fantastic and beautiful. Well, except the sulfur smell in Rotorua (the geysers and amazing eating made up for it), and it can be a bit spotty in places on finding someplace to get interwebs to check back in with back home.

When I get back, I expect a TA. :D (goes running out of room)

I notice that the museum's new prize exhibit is a '60 Ford honey wagon... anybody know if it comes with "stuff?" What a photo op...........