......It can buy me a boat....it can buy me a truck to Pull it....it can buy me a yeti 110 iced down with some silver bullets....well I know what they say money can't buy everything.....maybe so....but it can buy me a boat!

Weren't these numbers already known when the company proposed "pay raise in exchange for" six weeks ago?

LOL that's what I thought too when I first say the %pay raise on here.

Most economists, Citibank, Schwab and several others have a recession beginning in 2016 at >65%.

If you want more than one article, Google.

The Global Recession of 2016 - Barron's

Yes and I saw several articles/financial planning products touting the "recession of 2014". These guys get paid to talk (write) about the economy, not to deliver a specific set of goods. Just saying.....

It might be better then to push contract negotiations to start in 2018 then if we are going to go into recession this year or next and wait to come out of it. I wonder if there is a way to get a 2 year extension?

We have never seen a better negotiating environment in the history of our industry, and you're willing to sell our leverage for 13%. Fear is incredibly powerful.

Scott

Just to be a devils advocate, what makes you fear being able to make further improvements in section six two years from now?

I think based on what I am hearing from both commodites people and those in the know in petroleum we are headed down pretty soon.

I have good friends whose business is hiring and firing in Petroleum business from the Texas coast to the Alabama coast. They are laying off about 2000 per month. In the petroleum drilling and tooling industry they aren't selling any pipe, machinery, or custom bits. This is an excellent indicator as to the future because those guys order about six months out so they can keep on track with drilling and exploration.

Just heard today that the Natural gas industry will be hit hard soon. Look for that to make news in the next few weeks.

Interesting facts....
Average American credit card debt running about 15K.
Average Household income running about 51K.
Average bank account balance is $4400.00
Average Mortage debt is 148K
Average student loan debt is 31K
26% of Americans have zero savings
36 % have nothing set aside for retirement

Oil prices will stay down. Russia won't like that at all. I do see the arab states agreeing to keep pressure on Russia with influence and price fixing going on in OPEC oil. Overall economy is soft. Very small interest rate raise on horizon. The good news: consumers and airlines can afford to buy petroleum products, fuels, and lubricants.

Why wait? We have leverage now.

Again. We have never in my 21 years had the company come to us. We have leverage. They want. We have. Why would we sell that for 13% in an arbitraliry (and contrived) timeframe?

The answer is fear.

Scott