hilltopflyer

Exactly what I mean. No way I’d vote for a 190 pay raise only.

Bluedriver

100% correct, nailed it.

Bluedriver

Very, very incorrect.

You are confusing two different concepts and actually making it sound better than it is. It's worse than you say.

The 10% is the amount of the company's profit set aside to be distributed to the employees (but they don't actually distribute it, because of the cliff, they keep 99.98% of it for the company).

The 5% Cliff is in relation to your eligible wages.

For example, this year if not for the Cliff (Cliff is a fancy term for the company stealing your 1st 5% of your eligible wages via profit sharing) you would get a profit sharing check equal to 5.2% of your wages. But, since the 5% Cliff is always the final step in the mathematical order of operations, it (very, very intentionally) has a massively disproportionate effect on the payout to the employees (did I mention it was very, very intentional?).

So instead of receiving 5.2% in profit sharing, you get *.2%.*

You can see that that simple 5% Cliff, always calculated at the end of the formula, **erased** 96.1% of your profit sharing check.

As a result, I have ZERO F's given about the company's financial metrics.

And... If we were still under the profit sharing formula from 2 years ago, before the company FORCED this worse profit sharing plan on the employees, you would be getting a check for approximately 2.8% of your eligible wages. Here again, the forced change 2 years ago from 15% profit sharing pot to only 10% APPEARS to be a reduction of profit sharing payout of only 1/3 (15% to 10%), but because the Cliff is always the final mathematical operation, that formula change *removed* approximately 92.8% of the *PAYOUT* to employees. 2.8% instead of the new improved formula you only get .2%

Again, this change was VERY, VERY INTENTIONAL.

Now tell me I'm "being to negative" again y'all... And tell me again how they'll be no deferrals in 2019... Tell me again how the company will negotiate in good faith ... And Moxy isn't BlueJet's west coast plan (this one I'm only 75% sure of)...

pilotpayne

Great until the end. I was waiting for that part

Ok I’ll disagree with moxy and say we will be bought or merged before that happens. With the complete lack of vision and investment in operation as well as cost cutting to an extreme I really think they are getting ready for a transactional event. I think moxy is to far away.

leavemealone

How do you get the 10%? To get what delta makes JBLUs PM would have to be 1000%. Under the current model a senior captain is getting what $600?

Bluedriver

You are confusing too many issues/concepts.

I would have to sit down and do some real math to answer your question, but in a nutshell we would have to have an extraordinary year for our pilots to get 14% because our formula is SOOOOO bad.

And if we actually had a year like that, DL pilots would be getting a 40% profit sharing check, so we'd STILL be way behind!

And yes, our senior captains are getting $600!

It's GREAT to he a BlueJet pilot. At least we are deferring aircraft deliveries and have no pilot retirements....

Bluedriver

Maybe, but we've been bought/sold/merged for almost 20 years!

But of course you could be right... Or the cost cutting is for Wall Street and BlueJet executive bonuses and saving money for trans-atlantic.

PasserOGas

Don't forget we are issuing debt while buying up stock.

#keepsgettingbetter

Bluedriver

That usually happens when executives THINK the stock is undervalued and going higher in the future. But, the executives also hold tremendous quantities of stock personally, so it's quite easy to see how that is a self-serving policy.

From a merger/acquisition standpoint, adding debt and making the stock more expensive could be seen as being a defensive maneuver against being acquired.

Our executives and board are well compensated for their operational "excellence". They have locked-in low pilot costs and get to keep 99% of corporate profits instead of sharing them via profit sharing. They are probably going trans-atlantic soon and will soon have Moxy to grow their network on the West coast (to probably be merged into mother-BlueJet 5+ years later). They may very well not sell this company.

pilotpayne

Yeah I know, but I think if you start moving some pieces around the transactional event seems more and more likely. Again it’s a guess