Any "Latest & Greatest" about Delta?
06-20-2011 | 02:32 PM
Gets Weekends Off
Joined: Apr 2007
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From: Flying the SEC
What a moron! He takes a 40% pay-cut along with loss of pension and, indicates he'll settle the upcoming contract for 25% raise, AND does not mind a sellout of the junior guys in the process. In the end, he's still down well over 20% from where his wages were pre-bankruptcy, NOT including inflation OR loss of pension! Where DO guys like this come from? What ever happened to "leaving the profession BETTER than when you arrived??? Is it any wonder we're in the mess we're in?
Disgusted,
Chuck
Disgusted,
Chuck
That's why the hope that people will leave before 65 are pipe dreams. The current over 60 guys either have the frozen DB from the North or the Note and Claim money and the PBGC. They are in a better position than the next wave, the deadzoners. They will hang on to the bitter end because they have to. (Admittedly a broad brush, I'm sure there are people in that group who were more prudent and saved).
06-20-2011 | 02:33 PM
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Joined: Dec 2009
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From: 7ERB
He's not the only one. I've heard that from at least two other A's I've flown with. Both emphasized that the destruction of the DB plan completely disassociated their futures with that of the company. They wanted to extract as much money as possible from them in the next 5-10 years and the company could liquidate after that.
ACL, hope you're right about the 10%...
ACL, hope you're right about the 10%...
TEN
06-20-2011 | 02:38 PM
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From: B757/767
And good job on the AE. I'd love it if you actually could!
06-20-2011 | 02:41 PM
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From: B757/767
Nope, this demographic will sell 100 seat scope for a hefty raise without batting an eye. As one guy put it, "I've go 5 years to maximize my money to make up for what was stolen. After that this place go to ****, I'll be gone."
From a strictly self interest point of you I get it. The loss of the DB and the rise of the DC has created a split in the collective self interest in this industry. Until the Deadzoners are gone, scope sales will have to be monitored closely. Younger guys that are fully invested in the DC plan have more of a long term profitability interest in the company. Not saying those guys are wrong, just different self interests.
From a strictly self interest point of you I get it. The loss of the DB and the rise of the DC has created a split in the collective self interest in this industry. Until the Deadzoners are gone, scope sales will have to be monitored closely. Younger guys that are fully invested in the DC plan have more of a long term profitability interest in the company. Not saying those guys are wrong, just different self interests.
06-20-2011 | 02:44 PM
Gets Weekends Off
Joined: Jul 2010
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From: 7er
Altruism left with the pension. It's because he's down 40% and lost his DB that he will sell us out to maximize the final years to be able to retire at his planned lifestyle. I think most of these guys saw that 2.5 mil in DB and thought they were safe and didn't save much on their own. Add the crappy market in the last few years and you see guys staring at the abyss of retirement without enough in savings, kids in college, houses, boats, etc, etc etc.
That's why the hope that people will leave before 65 are pipe dreams. The current over 60 guys either have the frozen DB from the North or the Note and Claim money and the PBGC. They are in a better position than the next wave, the deadzoners. They will hang on to the bitter end because they have to. (Admittedly a broad brush, I'm sure there are people in that group who were more prudent and saved).
That's why the hope that people will leave before 65 are pipe dreams. The current over 60 guys either have the frozen DB from the North or the Note and Claim money and the PBGC. They are in a better position than the next wave, the deadzoners. They will hang on to the bitter end because they have to. (Admittedly a broad brush, I'm sure there are people in that group who were more prudent and saved).
06-20-2011 | 02:49 PM
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Joined: Nov 2010
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From: Boardroom Chair
PUBLIC SERVICE ANNOUNCEMENT FOR EMPLOYEES REBASING FROM MINNEAPOLIS
In Atlanta Georgia, in June, when the weather is 96 degrees, you do not need studded snow tires on your Subaru, or Saab, to get to any facilities around the Delta General Offices.
Last edited by Jabberwock; 06-20-2011 at 03:30 PM.
06-20-2011 | 02:59 PM
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That is so selfish and insulting to the rest of the pilot group (what the LCA said). How do people forget how they started out? That really upset me to read, I'm glad you said something about it
06-20-2011 | 04:05 PM
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From: 717
Did you ask him how much money he lost in the lawsuit to take the junior NWA pilots DC fund?
06-20-2011 | 04:08 PM
At home on the maddog!
Joined: Mar 2009
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From: Retired (mandatory age 65)
What a moron! He takes a 40% pay-cut along with loss of pension and, indicates he'll settle the upcoming contract for 25% raise, AND does not mind a sellout of the junior guys in the process. In the end, he's still down well over 20% from where his wages were pre-bankruptcy, NOT including inflation OR loss of pension! Where DO guys like this come from? What ever happened to "leaving the profession BETTER than when you arrived??? Is it any wonder we're in the mess we're in?
Disgusted,
Chuck
Disgusted,
Chuck
06-20-2011 | 04:14 PM
At home on the maddog!
Joined: Mar 2009
Posts: 2,874
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From: Retired (mandatory age 65)
We have a 401k and another defined contribution plan... both through Fidelity. We also have a brokerage link through both of those plans that allows us to invest in any mutual fund, individual stocks, and options.
The Delta "south" guys have a PBGC benefit from the termination of the pension. It's a very small fraction of what the pension was supposed to have been. Plus, from what I understand, the PBGC is insolvent. Personally, I'm not counting on anything from that.
The Delta "north" guys have frozen pensions. From what I understand, most were frozen at pretty low benefit levels. But there are a few really senior guys that will get all or most of their pension.
The Delta "south" guys have a PBGC benefit from the termination of the pension. It's a very small fraction of what the pension was supposed to have been. Plus, from what I understand, the PBGC is insolvent. Personally, I'm not counting on anything from that.
The Delta "north" guys have frozen pensions. From what I understand, most were frozen at pretty low benefit levels. But there are a few really senior guys that will get all or most of their pension.
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