Pinnacle Mangement Bankruptcy Proposal
05-09-2012 | 09:31 PM
#71
Gets Weekends Off
Joined: Jun 2008
Posts: 711
Likes: 0
Anyway, whoever mentioned that cheap air travel is being subsidized by airline employees is absolutely correct. I'm truly sick of the airline industry in the US. Time to leave...
05-10-2012 | 05:46 AM
#72
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
uhmm well my entire plan was based on surviving until upgrade then paying down my loans. I since purchased a modest care nissan altima and have payments. with the size of my loans and any social life, i have to work about 85 hours a month.
stop with the holier then though. i'm wicked tight with my budget, its just that i have a huge loan payment. I have enough in savings to last a while but it is a steady trend toward personal bankruptcy
stop with the holier then though. i'm wicked tight with my budget, its just that i have a huge loan payment. I have enough in savings to last a while but it is a steady trend toward personal bankruptcy
05-10-2012 | 06:28 AM
#74
Day puke
Joined: Feb 2006
Posts: 3,865
Likes: 0
From: Out.
Yep, if you took this job within the last few years, with what was known about the industry, how can you complain? My complaint with this bankruptcy is that some idiots signed unrealistic and unsustainable turbo prop contracts. Props make sense for puddle jumping, and they make money when management writes a decent contract.
My other complaint is with an individual who Voluntarily picks up open time because he needs the money while guys are being furloughed. IMHO said individual is a back stabber. That is my real beef.
What is your backup plan? You do have a backup plan right?
Specific plans, no. Many options? Absolutely. I doubt I will remain in the 121 world unless I can get on with a carrier which does NOT subcontract. More than likely, I will return to 135 flying for several reasons: no commuting, many options for better schedules, pay that is as good or better, and the ability to get a new job without having to go back to year one FO pay or schedules. Unfortunately for the folks who were hired with 500 hours of CFI time, finding 135 or corporate jobs will be much more of a challenge.
I could understand if it was a student in school trying to decide about whether they should go on with their training, but you are well past that now.
My other complaint is with an individual who Voluntarily picks up open time because he needs the money while guys are being furloughed. IMHO said individual is a back stabber. That is my real beef.
What is your backup plan? You do have a backup plan right?
Specific plans, no. Many options? Absolutely. I doubt I will remain in the 121 world unless I can get on with a carrier which does NOT subcontract. More than likely, I will return to 135 flying for several reasons: no commuting, many options for better schedules, pay that is as good or better, and the ability to get a new job without having to go back to year one FO pay or schedules. Unfortunately for the folks who were hired with 500 hours of CFI time, finding 135 or corporate jobs will be much more of a challenge.
I could understand if it was a student in school trying to decide about whether they should go on with their training, but you are well past that now.
05-10-2012 | 06:50 AM
#77
Line Holder
Joined: Oct 2010
Posts: 1,499
Likes: 0
I don't think anyone has the rights to tell anyone how to live their life. I don't like the idea of buying things because I "plan" on upgrading or expecting a bigger pay check. My wife and I bought a house a couple years ago that's based on my 75 hrs of pay and her part time job. I don't have to worry about using our savings, everything above 75 hrs is put towards savings or entertainment.
05-10-2012 | 06:51 AM
#78
Line Holder
Joined: Oct 2010
Posts: 1,499
Likes: 0
and how did you pay for your flight training?
My decisions resulted in not a single late loan payment, in fact i'm ahead six months. I have a fair amount in savings a strong resume (along with 5000 other guys), and no other real debt. So I made bad decisions? All i'm saying is that my average lifestyle with my student debt is not sustainable without going negative every month. now if i share living expenses that all changes. That is what i will likely do if i am capped at 75 hours.
based on all the information i had at the time i started, i would be about 2nd to 3rd year at mainline by now making 90-110k a year because that was what 2nd to 3rd year at mainline paid when i started and the mandatory retirement would have been a couple years deep by then. everything changed.
but by your logic you are saying that one should base their living costs on 75hrs per month on regional FO pay. Thats unrealistic. You couldn't take out a penny in loans.
this is a dumb conversation. lets move on.
My decisions resulted in not a single late loan payment, in fact i'm ahead six months. I have a fair amount in savings a strong resume (along with 5000 other guys), and no other real debt. So I made bad decisions? All i'm saying is that my average lifestyle with my student debt is not sustainable without going negative every month. now if i share living expenses that all changes. That is what i will likely do if i am capped at 75 hours.
based on all the information i had at the time i started, i would be about 2nd to 3rd year at mainline by now making 90-110k a year because that was what 2nd to 3rd year at mainline paid when i started and the mandatory retirement would have been a couple years deep by then. everything changed.
but by your logic you are saying that one should base their living costs on 75hrs per month on regional FO pay. Thats unrealistic. You couldn't take out a penny in loans.
this is a dumb conversation. lets move on.
05-10-2012 | 07:03 AM
#79
On Reserve
Joined: Jul 2008
Posts: 147
Likes: 0
05-10-2012 | 07:58 AM
#80
Doing One Pilot's Job
Joined: Sep 2005
Posts: 7,883
Likes: 118
Threads like this are why I pushed very hard in my graduation exit interview that Purdue make a personal finance class mandatory for AvTech/Flight majors.
A library card and "Total Money Makeover" would do folks a lot of good...
A library card and "Total Money Makeover" would do folks a lot of good...
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