JetBlue Latest and Greatest
#7551
Banned
Joined APC: Apr 2011
Posts: 1,473
I’d vote for an LOA to raise 190 pay if they fixed a few other things in conjunction. PS for one since it’s a hot topic. Get rid of the redeye carve out for the ADG. 5:15 a day instead of 5. And 3% COLA moving forward. And 321 override and/or make the A220 a family rate. Just a few things off the top of my head. If the company wants it, it’s gonna cost them more than just a few extra bucks for the 190 rates.
#7552
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,887
Multiply what you make in a year by .002 and that is the 2018 payout. In other words, don’t expect any meaningful profit sharing as a jetblue employee. JetBlue profit sharing is paid in culture and calculated with convoluted blue math. There’s a “cliff” that pretty much wipes it out. As one of the great leaders of this place once said, “you have to sacrifice to work here.” It’s such a privilege, they pay you less to do it. I think under this formula, even if JetBlue made ungodly amounts of profit, employees would still see very little. At least there are industry standard pay rates to compensate...wait nevermind.
#7553
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,887
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)...
#7554
Gets Weekends Off
Joined APC: Oct 2012
Position: 190 captain and “Pro-pilot”
Posts: 2,918
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)...
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)...
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.
#7555
On Reserve
Joined APC: Jan 2019
Posts: 22
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)...
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)...
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?
#7556
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,887
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....
#7557
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,887
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.
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.
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.
#7558
Banned
Joined APC: Feb 2009
Posts: 1,445
#keepsgettingbetter
#7559
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,887
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.
#7560
Gets Weekends Off
Joined APC: Oct 2012
Position: 190 captain and “Pro-pilot”
Posts: 2,918
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
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