Survey accuracy
07-18-2023 | 08:56 AM
#141
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
Bluedriver, you really should take a breath and think deeper about what we're trying to say. Profit sharing based on net income is really weak. It's not an "accounting gimmick". It's GAAP accounting 101. And, it's how hundreds of growth companies structure their finances.
Don't end up scratching your head in confusion 10 years later when the company prints cash, triples in size, the stock goes parabolic, and not once reports a positive net income.
Don't end up scratching your head in confusion 10 years later when the company prints cash, triples in size, the stock goes parabolic, and not once reports a positive net income.
07-18-2023 | 10:18 AM
#142
On Reserve
Joined: Feb 2011
Posts: 180
Likes: 1
Play nice boys. You're both too smart to let the internet get to you. It's a good conversation, and some of us need to hear different opinions about the details you guys are talking about.
07-18-2023 | 10:50 AM
#143
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
Don't disagree, but I certainly don't need to hear from him why we can't have back what we already had and how the plan wouldn't pay anything ("because we're a growth company"), yet in actuality it paid quite a lot over several years.
07-18-2023 | 12:05 PM
#144
Line Holder
Joined: Oct 2022
Posts: 81
Likes: 0
From: Switch it up
I never said that. I said there are better ways to calc profit sharing that are less susceptible to accounting shenanigans than net income. All airline profit sharing language is weak, imo. We could/should do better with this contract.
07-18-2023 | 12:29 PM
#145
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
A question while you're looking for that quote.
Is English your primary language? You regularly start arguing points that others haven't made, only to argue with yourself, about something you brought into the conversation.
07-18-2023 | 02:37 PM
#146
Line Holder
Joined: Oct 2022
Posts: 81
Likes: 0
From: Switch it up
Can you quote me ever saying "net income" please? I'll wait.
A question while you're looking for that quote.
Is English your primary language? You regularly start arguing points that others haven't made, only to argue with yourself, about something you brought into the conversation.
A question while you're looking for that quote.
Is English your primary language? You regularly start arguing points that others haven't made, only to argue with yourself, about something you brought into the conversation.
Don't confuse your lack of accounting 101 knowledge for my deficiency in English. Lulz.
07-18-2023 | 04:05 PM
#148
On Reserve
Joined: Jan 2019
Posts: 90
Likes: 0
From: A320 First Officer
Ok, my bad. Based on how you were using the term "profit" I assumed you referring to the GAAP definition of Net Income (which is typically synonymous). That also happens to be how UA/DL/B6 calculate profit sharing. Well, more accurately they use the term "pre-tax profit" which they define as Net Income before taxes so they can deduct the profit sharing payment. But, it's based on Net Income.
Don't confuse your lack of accounting 101 knowledge for my deficiency in English. Lulz.
Don't confuse your lack of accounting 101 knowledge for my deficiency in English. Lulz.
Well seeing that in the US and I assume most places “net income” is post tax, what you meant was “gross income” so good job f’ing that up as well.
07-18-2023 | 04:55 PM
#149
Line Holder
Joined: Oct 2022
Posts: 81
Likes: 0
From: Switch it up
The language in the contract(s) is “Pre-Tax Profit” which is a made up term, but they define it as pre-tax (and other adjustments to) Net Income.
Thread
Thread Starter
Forum
Replies
Last Post
