Quote:
Originally Posted by gzsg
Ferd
I hear what you are saying, but we are in ALPA not the long shoreman's union.
I agree to eliminating profit sharing if we get 40% 1/1/15. 2004 rates plus some inflation.
Here is the problem with opening the profit sharing box, we will be cost neutral. Give up some/all profit sharing and get another pathetic 4/8/3/3. Basically nothing to management because we funded it with our profit sharing and the balance is inflation.
We need to leave profit sharing alone and get a minimum of 20% 1/1/15.
Look at the annual increases of our executives. Do they make concessions to get gains?
Time for DALPA to lead instead of follow.
Jerry
Quote:
Originally Posted by gzsg
Ferd
One more thing to ponder.
Many of our pilots are stuck in the past, never realizing the industry has changed forever. Billions in fees. No fare wars.
We drop SFO-NRT. UAL drops SEA-NRT.
It is the oligopoly of management's dreams.
Our economy is lackluster and picking up steam every day.
None of us can imagine the profits Delta will make. We will soon announce an additional $250 million in free cash flow in the second quarter.
Our profits will easily hit $5 billion in 2015.
Ferd we get 20% of the profit over $2.5 billion. Do you really want to give that up? This money is a small token of our billions in life changing concessions. Let's leave it alone and make the historic gains our MEC has committed to without concessions.
Jerry
Jerry,
No
I'M NOT TALKING ABOUT GIVING ANYTHING UP! You'll have to show me your math for the 40% but here is what I'm thinking.....assuming it's possible tax wise. We take the current profit sharing and ADD IT TO what the company contributes to our 401K. Then you go for your 20% raise. If that is impossible tax wise put some of it towards more vacation $$/ day or more training $$/ day.
Now, I realize there are guys who need the cash vs putting towards retirement $$ (which would be tax differed) but that is another conversation.
I'm not naive enough to think profit sharing will truly go away as it's way to ingrained in most guys minds (plus they need the cash). But, I've disagreed with it since I've been here.
Anyway, agree to disagree? I don't make it to Dukes much anymore, but the beers are on me.
Ferd
PS Wouldn't be cool if we were longshoremen?
02-20-2023
Today
