Details on Delta TA
07-04-2015 | 10:28 AM
Gets Weekends Off
Joined: Jun 2015
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Looking for the Bulletin. In the meantime, if you reverse the calculation by taking $1.1B as 16.58% of payroll you get a PTIX number around $6.5B for a $1.1B payout. There is more to the PTIX add back, $4.5B GAAP + capex + onetime expenses etc.
What was the date on CA 15-02?
What was the date on CA 15-02?
Check the 2014 earnings before tax:$1.07B
http://www.nasdaq.com/symbol/dal/financials?query=income-statement
Add in the one times and you get $4.5B. Check the 2014 DAL annual shareholder report for a more in depth accounting.
It doesn't include profit sharing payout, doesn't include management incentive exclusion. PTIX definition change under TA would "exclude" the management incentive exclusion i.e. PTIX+PS payout only.
I think the date was around 2/13/2015.
As to the $1.1B payout backward math not reconciling, I don't know the figures management is accounting for in that. Is it purely PS to eligible employees or is that INCLUSIVE of other non eligible employee PS payouts?
07-04-2015 | 10:45 AM
Racketeer
Joined: Mar 2015
Posts: 13,327
Likes: 818
From: N60.4858 W149.9327
$4.5B figure includes GAAP and onetime expenses. Figure comes off income statement and matches CA 15-02.
Check the 2014 earnings before tax:$1.7B
Delta Air Lines, Inc. (DAL) Income Statement - NASDAQ.com
Add in the one times and you get $4.5B. Check the 2014 DAL annual shareholder report for a more in depth accounting.
It doesn't include profit sharing payout, doesn't include management incentive exclusion. PTIX definition change under TA would "exclude" the management incentive exclusion i.e. PTIX+PS payout only.
I think the date was around 2/13/2015.
Check the 2014 earnings before tax:$1.7B
Delta Air Lines, Inc. (DAL) Income Statement - NASDAQ.com
Add in the one times and you get $4.5B. Check the 2014 DAL annual shareholder report for a more in depth accounting.
It doesn't include profit sharing payout, doesn't include management incentive exclusion. PTIX definition change under TA would "exclude" the management incentive exclusion i.e. PTIX+PS payout only.
I think the date was around 2/13/2015.
10-K and 10-K amendment to further review yet.
I have been ordered to get off the computer and enjoy the 4th with the fam, sorry this will have to wait for me, I'm out. The boss wins this one. I'll check back tomorrow.
07-04-2015 | 11:16 AM
Gets Weekends Off
Joined: Jun 2015
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I will research further. I still can't find a published PTIX number. The 10-K has the GAAP numbers but it was amended in April. I can't find accurate add backs. What is the true PTIX # for 2014? And where? What is the wage pool share? And where? I was going with PTIX $6B in the chart and pilots at 37.5%.
10-K and 10-K amendment to further review yet.
I have been ordered to get off the computer and enjoy the 4th with the fam, sorry this will have to wait for me, I'm out. The boss wins this one. I'll check back tomorrow.
10-K and 10-K amendment to further review yet.
I have been ordered to get off the computer and enjoy the 4th with the fam, sorry this will have to wait for me, I'm out. The boss wins this one. I'll check back tomorrow.
They need to defend the PS% with projections in a cohesive multivarite model. I don't think it's as simple as your spreadsheet PS assumptions or as simple as 5.74%. Some of these TA comparisons have been made in a vacuum to associated effects.
Last edited by Planetrain; 07-04-2015 at 11:38 AM.
07-04-2015 | 11:19 AM
Gets Weekends Off
Joined: Oct 2014
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From: Downward-Facing Dog Pose
Everyone would be far better served examining the pay portion of this TA assuming a worst case scenario (declining profits) rather than a best case scenario.
The 800 lb gorilla sitting in the corner, glaring at everyone.
.
The 800 lb gorilla sitting in the corner, glaring at everyone.
.
07-04-2015 | 12:43 PM
The Brown Dot +1
Joined: Jun 2009
Posts: 7,775
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From: 777B
I'm willing to accept all their maths on this. All of the maths. All of them.
And take 1.0B and put it into pay rates alone with no other changes. At whatever percentage increase that winds up being. I would vote yes for that without even seeing the pay tables.
We'd avoid the concessions and get an extra Billion over 3 years, and the company would save 100 Million Dollars over the TA even including the concessions.
Win-Win.
#reasonable
And take 1.0B and put it into pay rates alone with no other changes. At whatever percentage increase that winds up being. I would vote yes for that without even seeing the pay tables.
We'd avoid the concessions and get an extra Billion over 3 years, and the company would save 100 Million Dollars over the TA even including the concessions.
Win-Win.
#reasonable
In fact, if the union would present that to the company as a cost saving measure, I am sure it would be well received.
07-04-2015 | 12:44 PM
The Brown Dot +1
Joined: Jun 2009
Posts: 7,775
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From: 777B
I don't want to get hit by a meteor.
Under our TAs healthcare plan, is there a paid sick leave option for either fear of global economic meltdown or fear of getting hit by meteors?
Will Sedgwick be denying it? Will the new company AME be releasing that info to the FAA?
07-04-2015 | 01:01 PM
La Familia Delta
Joined: Oct 2006
Posts: 2,467
Likes: 0
From: B-717 FO / C-17 AC
If the world implodes next week, youre taking a pay cut anyway "to save the company" like you did 2x before. Hows that for the gorllia/elephant in the room. The argument that our pay rates are more protected than our PS hasn't held water ever, but one thing is for sure, when you give away work rules you never get them back. stop the bleeding. please please please stop the bleeding.
07-04-2015 | 03:40 PM
veut gagner à la loterie
Joined: Apr 2008
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From: Light Chop
07-04-2015 | 03:41 PM
veut gagner à la loterie
Joined: Apr 2008
Posts: 23,286
Likes: 0
From: Light Chop
Newk could kick that gorillas ass.
Show em Newk. Show em how it's done.
If that doesn't work, simple logic will.
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