Nice summary, There is one thing to note. They compared 4Q10 Capacity with 4Q08 and 07. They did not compare it with 09. The reason is they believe Wallstreet wants the line held on capacity increases. Capacity for 4Q10 will be up quite a bit from 09 hence the reason for hiring pilots earlier then needed for the summer schedule.

 

I miss the Marriott Marquee in ATL. The Hilton ... ugh.

 

DC8, thanks for the good summary.

 

So, does anyone care to explain how the profit sharing works? I read through the PWA but it doesn't really explain how DALPA divides its % of the $. Looking for a ballpark # for a 3 year FO. Also, is a check issued or can you elect some or all of the $ into the retirement account pretax? I'm reading Mar-Apr 2011 for the $?

Hopefully record profits will continue through 2012 negotiations and beyond.

 

Haven't stayed at the Hilton yet. Sad to see the MM go. Have a PIREP on the stay?

 

We moved from the Marriott? Another reason to avoid ATL.

 

I stayed at the new ATL hotel last week. Right across the street from the old hotel. Rooms were every bit as nice along with nice workout room. No complaints.

 

From PWA Section 3. I.

Basis of award: Individual employee’s annual compensation in the year in which the PTIX (pre-tax income) was earned as a percentage of total annual compensation for that year for all eligible employees.

Type of payment: Cash (meaning it goes in just like a paycheck)

Pensionable: Yes (meaning you get DC contributions on top of the profit sharing on the same basis as you receive for other wages)

 

Basically, you take 15% of the company's pre-tax profit (20% of the amount over $2.5 Billion) and put it in a pool. You then take your W-2 earnings and divide it by the total W-2 earnings of the entire work force and you get your share of the pool. For example a person that makes $50,000 that year would get half as much profit sharing as a person that makes $100,000. There is no decision to be made by the MEC it is all a math calculation.

Historically, total pilot earnings are about one third of the pool. If total profit was $1 billion, then the pool would be $150 million. The pilots' share would be estimated to be around $50 million. With 11,000 or so pilots eligible for profit sharing, each pilots share would AVERAGE out to $4,500. Again, an MD-88 first officer would get less than a 747 captain, assuming they both worked a full year.

 

10 minutes to check in at 6am. We were the only ones in line.

The architecture of the MM blows away the Hilton.

I've had my air conditioning set to 60 degrees, but it's still 75 degrees in the room.

One more block away from the Peachtree Mall.