2014 profit sharing
 

Any good educated guesses on our 2014 profit sharing? Not trying to bring up a sore point with UAL guys bent out of shape from last year, just curious if any of you sharp numbers guys have a good educated guess.

Now that WE all have a profit sharing plan in the UPA we will ALL share in our share of the profits - if any. Of course, this is different from 2012, when only sUAL had contractual language for profit sharing which was included in that contract because of the "haircut" all the sUAL pilots
took with respect with out concessionary wages. Nuff said....

Speaking of profit sharing, how's dat arbitration going for the penalty phase?

Between the paltry sum I expect to receive for 2013 and amount I figure that we'll receive from the grievance award, I may be able to cover one months mortgage.

Someone opined that the profits for 13 closely matched those for 12. If this is factual, expect to receive a tad less.

This place produces a profit? Any sharing will be given to Jeffey and his minions. We get the gruel. Please sir can I have some more?http://meroveeschild.files.wordpress.../01/oliver.jpg

Blah blah blah blah

Well...the combined net income exluding specials for the 1st thru 3rd Qtrs is 786M. That is 33% higher than 2012's full year 589M, and we still have the 4th QTR to go. However, we did lose money in the 4th last year....but are projected to squeak out a profit this QTR. SO...roughly a 33% higher PS payout in 2014 than in 2013.

Keep in mind I'm a pilot, not the CFO...but I did stay at a Holiday Inn Express last night.

Sled



3-H Profit Sharing

3-H-1 Pilots shall participate in the Company profit sharing plan.

3-H-2 For profit-sharing based on the years 2012 and 2013, the Company profit sharing plan shall be funded with fifteen percent (15%) of pre-tax profit.

3-H-3 For profit-sharing based on the years 2014 and beyond, the Company profit sharing plan shall be funded with ten percent (10%) of pre-tax profit up to a pre-tax margin of six and nine-tenths percent (6.9%) plus twenty percent (20%) of pre-tax profit in excess of a pre-tax
margin of six and nine-tenths percent (6.9%).

3-H-4 Special and unusual items shall be excluded from pre-tax profit when making the calculations in Sections 3-H-2 and 3-H-3.

Nice analysis thanks!!!

Sled,

I thought the percentage formula was going to be different for 2013, hence my comment about us receiving slightly less. Do you know if that's accurate?

Moom,

Nice snark there for Krudawg. Perhaps we can elevate the discourse as we move into the next ugly phase of this merger?

A Dec31st 2013 pay advice vs a Jan2nd 2014 will increase the 2013 PS payout numbers a little.