Profit Sharing
#61
#65
Changing your thought from a "pool" to a "distribution" and the picture becomes clearer. Now factor in CBA/contract clauses on distribution percentages and your math won't make it to the test. Using your numbers example would in reality look more like this. $15,000 is a "distribution" to participants (Note, the company's coffers could not qualify as a participant). Breaking it down, one (1) group (sUAL pilots) of participants contractually gets 43.5% or $6525 of the "distribution" amount($15,000). The remaining 56.5% ($8475) is divided up among the other employee groups participating in the program. So if another group, example sCAL pilots, gets 40% as someone on here alluded to, it would be coming from the adjusted amount ($8475) and therefore their share would be $3390. Therefore the the rest of the participants would be getting $5085 ($8475 - $3390).
The broader question might be whether the share of the company's profit for PS were higher and diluted to the $265M, a question only the company could answer but haven't to date.
BTW based on the actual distribution figure, if the hourly credit pay was about $5.00 more then this discussion would be purely academic..
The broader question might be whether the share of the company's profit for PS were higher and diluted to the $265M, a question only the company could answer but haven't to date.
BTW based on the actual distribution figure, if the hourly credit pay was about $5.00 more then this discussion would be purely academic..
(BTW, I mentioned the 40% thing in regards to L-CAL pilots as an example of how the OLD profit sharing calculations worked...but it was part of a much bigger explanation and calculation process under the old plan.)
I also asked on one of these threads if the 43.5% that has been mentioned is contractually in effect still for L-UAL pilots. The response I read was no it is not, unless I didn't understand the response correctly. If it is in effect, it is clear where you are coming from. If it isn't, then it would seem we are all part of the same 15% pool on equal footing with all other employees.
#66
Originally Posted by catan
Do you know who you are and where you come from?
#67
Gets Weekends Off
Joined: Nov 2010
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I don't care what it's branded. Our MEC Chair can't unilaterally sign a LOA or JCBA, so I don't know what he possibly could have given away on his own that would adversely affect us. The way many on the CAL side see this is the UAL MEC was willing to sacrifice an extension of most of the expiring provisions of the TPA in order to secure a significant financial gain for the UAL pilots. They had to know the company wasn't going to agree to that.
It all depends what side of the fence you're looking through.
It all depends what side of the fence you're looking through.
Management said they would terminate base protections but we could have furlough and ratio protections. Why would they let us have furlough and ratio
protections? They don't intend to furlough or materially change the fleet ratios. Therefore those offers for a time limited TPA are worthless.
#68
Gets Weekends Off
Joined: Nov 2010
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"J Pos"? Really? How childish. I see all this dumped on Jay, but he takes direction from the MEC and can't make those decisions without their approval. Yet, I see not one complaint about our MEC on here. I'm not saying there should be either, but trying to figure out the logic of dumping everything on a guy who basically does as the MEC instructs him to do.
Along those lines, why is your pilot group not calling out Wendy and your MEC for their complete and utter disaster in handling the T&PA extension talks? Agreements to approach it one way and then at the last minute put extra requirements in it? CAL pay rates? Extra money equal to CAL pilot profit sharing? Things that were outside the original T&PA to begin with.
You may have an issue with the process, but the process involved both sides and only had the outcome it did when unrealistic demands by the UAL pilots were presented to management. Of course they were going to say "no" going forward. But it would have been nice in unity if the UAL pilots had given up their PS to keep us on equal footing, right? Didn't think so.
Profit sharing was a negotiated benefit for the UAL to partially offset the pay losses we incurred in bankruptcy. Yes, you incurred a pay cut as well, but not like the haircut we took. You make how much more than us? Right.
#69
I also asked on one of these threads if the 43.5% that has been mentioned is contractually in effect still for L-UAL pilots. The response I read was no it is not, unless I didn't understand the response correctly. If it is in effect, it is clear where you are coming from. If it isn't, then it would seem we are all part of the same 15% pool on equal footing with all other employees.
1. Performance Incentive Program - Quarterly performance bonuses
2. Profit Sharing Program - Annual profit sharing bonuses
The Performance Incentive Program was terminated by Steve Wallach (MC before Wendy) by a Supplemental Agreement in April 2008, in exchange for a 1% pay increase on 2008 and 2009 hourly pay rates. As part of the language in that Agreement, the Profit Sharing Program remains in full force and in effect.
There is some confusion as the Supplemental Agreement incorrectly references Section 3-L (Paid Absences) rather than 3-M (Success Sharing) which pertains to profit sharing. However, the language clearly reflected the intent of the Agreement as a modifications of the Success Sharing Agreement. Not sure if that discrepancy was ever addressed.
Of course when dealing with a contract that's past its amendable date one can speculate on sections which are no longer applicable but in the absence of sunset clauses the language remain in force until a new contract is signed. So yes 43.5% remains L-UAL's pilots contractually negotiated claim of the total distribution in the Profit Sharing Program.
#70
Gets Weekends Off
Joined: Mar 2008
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Yes, extend the TPA for another period of time that the company doesn't desire to complete the JCBA. Signing an agreement with a termination date is an insult. If management was serious about getting contract, they wouldn't need TPA with a termination date. A termination date gives management leverage.
Management said they would terminate base protections but we could have furlough and ratio protections. Why would they let us have furlough and ratio
protections? They don't intend to furlough or materially change the fleet ratios. Therefore those offers for a time limited TPA are worthless.
protections? They don't intend to furlough or materially change the fleet ratios. Therefore those offers for a time limited TPA are worthless.
In my eyes, your MEC bravely (yes, that's sarcasm) was willing to leverage the CAL pilots chance for profit sharing in order to make a political stand for something they knew they weren't going to get. I didn't expect profit sharing, but the more I heard from those in a position to know about what happened behind the scenes, the more I'm glad we got it.
Our MECs still have primary responsibility to represent our respective pilot groups. Sometimes the goals and direction are exactly the same. In some areas they'll be different, with the SLI being the prime example.
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