One side is mistaken
06-26-2015 | 09:34 AM
#161
Gets Weekends Off
Joined: Feb 2008
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How about just do it using 2014's PS % of 17%. Probably a good average to use over 4 years.
If you actually just score it out it's a 10.6% raise over 3 years. The rates go 8633, but the total difference between life with and without the TA is 10.6%.
Just use $150/hour 12 year pilot at 90 hours a month and use the current 17% PS and 15% 401K vs the TA's adjusted PS for 2016 and 401K change for 2017 and apply the PS for both in the year that they were earned. Also use all of 2015 so that means with TA2015 you use 150 for the first half, raise the rate 8% for the second half of the year and use the full 17% PS for 2015.
I see a total of $871,884 in value without the TA and $964,447 with, a 10.6% increase.
If you actually just score it out it's a 10.6% raise over 3 years. The rates go 8633, but the total difference between life with and without the TA is 10.6%.
Just use $150/hour 12 year pilot at 90 hours a month and use the current 17% PS and 15% 401K vs the TA's adjusted PS for 2016 and 401K change for 2017 and apply the PS for both in the year that they were earned. Also use all of 2015 so that means with TA2015 you use 150 for the first half, raise the rate 8% for the second half of the year and use the full 17% PS for 2015.
I see a total of $871,884 in value without the TA and $964,447 with, a 10.6% increase.
Even if you call profit sharing a wash (5.74% vs 6% pay), it's still an 8/3/3 3 year deal, with the 8% paid 6 months early. Without the extra vacation pay, training pay, reroute pay, end of month transition pay and DC, that' still a compounded 14.58%.
I'm coming for my slushie!
06-26-2015 | 10:00 AM
#162
Sick of whiners
Joined: Jun 2015
Posts: 507
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From: 767 VEOP
Next years profit sharing gets a double discount (if the TA passes)
First discount when the wider 10% band kicks in.
Second discount- The value restricted stock that is "given" to upper echelon employees (2,400 of them according to one poster) is subtracted from the pool
from Negotiators Notepad yesterday--
. . . Profit sharing is determined by PTIX, a contract-defined term which consists of the Company’s consolidated pre-tax income but excluding all asset write downs related to long term assets, gains or losses with respect to special, unusual, or nonrecurring items; and expense accrued with respect to any employee profit sharing plan, program or similar arrangement. . . "
Are there any accounting wizards that can come up with exactly how much profit sharing gets "dinged" by this new definition? With 2,400 mgt types getting restricted stock, this could be a large debit to the way the PS total pool amount is calculated.
06-26-2015 | 10:11 AM
#163
Gets Weekends Off
Joined: Feb 2008
Posts: 2,539
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Sadly, I don't think it will be.
Next years profit sharing gets a double discount (if the TA passes)
First discount when the wider 10% band kicks in.
Second discount- The value restricted stock that is "given" to upper echelon employees (2,400 of them according to one poster) is subtracted from the pool
from Negotiators Notepad yesterday--
. . . Profit sharing is determined by PTIX, a contract-defined term which consists of the Company’s consolidated pre-tax income but excluding all asset write downs related to long term assets, gains or losses with respect to special, unusual, or nonrecurring items; and expense accrued with respect to any employee profit sharing plan, program or similar arrangement. . . "
Are there any accounting wizards that can come up with exactly how much profit sharing gets "dinged" by this new definition? With 2,400 mgt types getting restricted stock, this could be a large debit to the way the PS total pool amount is calculated.
Next years profit sharing gets a double discount (if the TA passes)
First discount when the wider 10% band kicks in.
Second discount- The value restricted stock that is "given" to upper echelon employees (2,400 of them according to one poster) is subtracted from the pool
from Negotiators Notepad yesterday--
. . . Profit sharing is determined by PTIX, a contract-defined term which consists of the Company’s consolidated pre-tax income but excluding all asset write downs related to long term assets, gains or losses with respect to special, unusual, or nonrecurring items; and expense accrued with respect to any employee profit sharing plan, program or similar arrangement. . . "
Are there any accounting wizards that can come up with exactly how much profit sharing gets "dinged" by this new definition? With 2,400 mgt types getting restricted stock, this could be a large debit to the way the PS total pool amount is calculated.
6% is actually a premium for profit sharing at any PTIX level above $6B. From $0 to $6B the pay rate change actually pays more.
06-26-2015 | 10:20 AM
#164
veut gagner ŕ la loterie
Joined: Apr 2008
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From: Light Chop
06-26-2015 | 10:36 AM
#165
veut gagner ŕ la loterie
Joined: Apr 2008
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From: Light Chop
C'mon, man! That right there is some SEC math.
Even if you call profit sharing a wash (5.74% vs 6% pay), it's still an 8/3/3 3 year deal, with the 8% paid 6 months early. Without the extra vacation pay, training pay, reroute pay, end of month transition pay and DC, that' still a compounded 14.58%.
I'm coming for my slushie!
Even if you call profit sharing a wash (5.74% vs 6% pay), it's still an 8/3/3 3 year deal, with the 8% paid 6 months early. Without the extra vacation pay, training pay, reroute pay, end of month transition pay and DC, that' still a compounded 14.58%.
I'm coming for my slushie!
I actually got 4/5/4/3, 16.5%. More than you.
Still, I just did a straight year over year on spreadsheet. Still a raise. But it came out to 10.6% difference.
2015 162k Flt pay 189.5k after ps and 217.971k with 401k. Repeat 4 times. $871884 total.
Then with 8633 i took a rate of 150 for first half of 2015 then raised it 171.72, 176.87 and 182.18. Added 17% for 2015 ps then subtracted 5.74 for remainder and 401k up in 17 to 16%. Total $964,447. A 10.6% increase in value.
I've can't write more. Ground is getting ****y with me.
06-26-2015 | 10:52 AM
#166
Sick of whiners
Joined: Jun 2015
Posts: 507
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From: 767 VEOP
06-26-2015 | 11:24 AM
#167
Sick of whiners
Joined: Jun 2015
Posts: 507
Likes: 0
From: 767 VEOP
Our slice of the total company PS pie was ~38% last year.
The total pie was approx $1.1B (big pie) so our share would have been ~$418M
So based on the revised PITX definition alone, if our profit sharing slice would decrease by $17M, isn't that just over -4% ? ( $17/$418)
What am I missing? Where does the road show number of only 0.74% come from?
(I like math checking, but the blame here could be entirely MY math)
06-26-2015 | 11:33 AM
#168
Gets Weekends Off
Joined: Feb 2008
Posts: 2,539
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Check my math here, those numbers still don't add up quite right...
Our slice of the total company PS pie was ~38% last year.
The total pie was approx $1.1B (big pie) so our share would have been ~$418M
So based on the revised PITX definition alone, if our profit sharing slice would decrease by $17M, isn't that just over -4% ? ( $17/$418)
What am I missing? Where does the road show number of only 0.74% come from?
(I like math checking, but the blame here could be entirely MY math)
Our slice of the total company PS pie was ~38% last year.
The total pie was approx $1.1B (big pie) so our share would have been ~$418M
So based on the revised PITX definition alone, if our profit sharing slice would decrease by $17M, isn't that just over -4% ? ( $17/$418)
What am I missing? Where does the road show number of only 0.74% come from?
(I like math checking, but the blame here could be entirely MY math)
06-26-2015 | 03:04 PM
#170
Sick of whiners
Joined: Jun 2015
Posts: 507
Likes: 0
From: 767 VEOP
Totally clear now. Thanks!
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