Any "Latest & Greatest" about Delta?
Can't abide NAI
Joined APC: Jun 2007
Position: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
Posts: 12,038
A word of caution about how you shop if you use Yahoo, Quicken or Zillow. The internet sites sell your query to anyone willing to pay. Your phone will ring, your e-mail will be full, etc ... Might even be worth giving them a discreet phone number to control the hassle factor from telemarketers. I gave an obviously bum number and in the comments asked that they only contact me through an e-mail I had set up specifically for that purpose.
Another word of caution, closing costs and fees. I asked for a pro forma statement, then shopped the product again. None of the really aggressive marketers exactly matched what they held out in their advertising. The market moves very quickly. Depending on your lock the deal they offer changes.
In the end the 1/8th to 1/4 point spread for a truly no closing cost loan (not adding anything to principal) is, IMHO, worth it with rates this low. There are good charting tools. If you are a trend analysis type, you'll have a good idea when to say "lock."
Since all of our mortgages end up with Fannie and Freddie, I don't think it matters who originates your loan ... just shop price.
ACL, I have two questions for you. But first, here's my premise: I propose the following letter be unanimously accepted by every elected member of the DALPA MEC and sent to Lee Moak:
---------------------------------------------------------------------
Dear Captain Moak,
This letter is to advise you of the unanimous opinion of the Delta MEC regarding your signing of the Pinnacle agreement that completely subverted the rightful role of the Delta MEC.
We are requesting a letter of apology from you on behalf of ALPA national to the pilots of Delta Air Lines and their elected representatives. This letter must also include a pledge to never again act on behalf of Delta pilots without the direct participation of the Delta MEC. We will be expecting this letter no later than 30 days from today.
Should this letter not be forthcoming within the timeframe stated above, the Delta MEC is unanimously resolved to no longer be affiliated with the Airline Pilot's Association. It is imperative for you to understand the importance the Delta MEC places on all parties within ALPA operating in strict adherence to the policies that make our union a truly bottom up organization. Your actions in the Pinnacle matter were in direct contravention of those policies in our opinion and can never be allowed again. DALPA either controls the interests of the pilots they represent, or they do not. We require a clear answer to that question.
Although your actions have produced great mistrust among many Delta pilots, we still believe there is a solution if all can be confident of this never happening again. We look forward to your letter inclusive of the items we must have in order to continue our relationship.
Regards...
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Now here are my 2 questions for you ACL:
First, would you sign off on a letter that had this as its basic premise?
Second, if Moak wrote back and said go pound sand, would you follow through in ending our affiliation with ALPA and creating a new independent union?
Carl
---------------------------------------------------------------------
Dear Captain Moak,
This letter is to advise you of the unanimous opinion of the Delta MEC regarding your signing of the Pinnacle agreement that completely subverted the rightful role of the Delta MEC.
We are requesting a letter of apology from you on behalf of ALPA national to the pilots of Delta Air Lines and their elected representatives. This letter must also include a pledge to never again act on behalf of Delta pilots without the direct participation of the Delta MEC. We will be expecting this letter no later than 30 days from today.
Should this letter not be forthcoming within the timeframe stated above, the Delta MEC is unanimously resolved to no longer be affiliated with the Airline Pilot's Association. It is imperative for you to understand the importance the Delta MEC places on all parties within ALPA operating in strict adherence to the policies that make our union a truly bottom up organization. Your actions in the Pinnacle matter were in direct contravention of those policies in our opinion and can never be allowed again. DALPA either controls the interests of the pilots they represent, or they do not. We require a clear answer to that question.
Although your actions have produced great mistrust among many Delta pilots, we still believe there is a solution if all can be confident of this never happening again. We look forward to your letter inclusive of the items we must have in order to continue our relationship.
Regards...
-------------------------------------------------------------------
Now here are my 2 questions for you ACL:
First, would you sign off on a letter that had this as its basic premise?
Second, if Moak wrote back and said go pound sand, would you follow through in ending our affiliation with ALPA and creating a new independent union?
Carl
I love the letter except the nuclear line of leaving ALPA. Why is that necessary? Why not demanding a restructuring including the ousting of Moak? Most people that I know outside of his yes men here at DALPA cannot stand the guy after they meet him, including my friends that have been at national.
Looking forward to acl and nu's answer to this question.
Carl
I just contacted Wings FCU for a mortgage yesterday in fact. The DTW office manager was very helpful, and as of today, I 've electronically sent in the application. As contrasted to a "mortgage specialist" based in Florida, who requested all my financial paperwork two weeks ago, and still needs more. By the time that "specialist" considers approving me, I should be in my new acquisition, thank you to Wings.
JetBlue | Investor relations | Press Releases
http://www.breakingtravelnews.com/ne...odeshare-deal/
If in So Cal I have a person that does no cost loans and will notify you when the rates drop and they can save you some more $$$. I've done 3 w/ her in the past year. Now @ 3.5% and there wasn't a cost to me at all (other than a sore hand after signing papers for hours.) Good luck!! PM me if you'd like contact info.
Baja.
Baja.
Trust me on this.
TEN
Gets Weekends Off
Joined APC: Jul 2008
Posts: 5,028
None of those groups saw the massive increases in pay we saw in the early 2000's. If you compare our contract wages to what other employees are paid at Delta relative to the industry today we are ahead of every group except perhaps the mechanics who would be about the same as we are. Our flight attendants as a example are paid substantially less then American and our far more productive. They are paid 20 percent less then SW's hourly rate and not far from them in productivity. Delta flight attendants were the most productive of the legacy airlines in 2011. In addition they took substantial cuts in many areas including freezing their retirement plan with no follow on retirement at all for almost 4 years. Today they get something like 6 percent into a DC type plan. All the other employees saw the same increases in health care and other costs they we took. A 300 dollar a month increase in health care premiums has a lot more impact on a employee taking home 1600 dollars a month then a pilot.
Overall Delta's non pilot employee costs are at best industry average. If you count in the fact Delta was able to outsource many of those jobs the costs are probably well below industry average. We are industry leading. If you tried to use a argument about pilot costs verses other employee costs at Delta before the NMB you would look very foolish.
Overall Delta's non pilot employee costs are at best industry average. If you count in the fact Delta was able to outsource many of those jobs the costs are probably well below industry average. We are industry leading. If you tried to use a argument about pilot costs verses other employee costs at Delta before the NMB you would look very foolish.
There is a guy a Delta buddy of.mine recommended last summer and.it worked out well. No closing costs, no appraisal, flat 4%, 30 yr, (goal was to drop the payments and then pay extra). I think I spent 8 min on the phone and I went with him. That was in ATL btw. I was happy.
I think the bank.had offered 4.4% and $3500 closing and $400 appraisal and so on.
I think the bank.had offered 4.4% and $3500 closing and $400 appraisal and so on.
TEN
Gets Weekends Off
Joined APC: Jul 2008
Posts: 5,028
Someone was asking about a quote that alluded to the PWA being cost neutral. One of the quotes is from the 2012 Q3 CEO Discussion and goes as follows:
Quote 1
25JUL13
Richard Anderson [opening statement]
With the benefits achieved with our new pilot agreement, we have the flexibility we need to both accelerate our fleet restructuring and improve pilot productivity as we vary our capacity by season. The agreement enables us to up-gauge our domestic fleet by acquiring 717s and two-class regional jets which will replace more than 200 50-seat aircraft over the next few years.
Paul Jacobson [opening statement]
The retirement of the 50-seat regional jets is one of the single biggest opportunity costs we have. The up-gauging strategy will improve our efficiency by lowering our unit costs while simultaneously improving our product while maintaining our capacity discipline. Secondly, we are aligning our head count with our reduced capacity and recently had over 2,000 employees elect to participate in our voluntary early retirement program. These employees will retire by the end of the year with limited backfill, which will continue to result in improved productivity.
Ed Bastian [answering a question from UBS on CASM ex-fuel]
And I’d say the other thing, Kevin, there that we did not necessarily forecast or see coming as clearly is the opportunity we had with our pilots to do the contract early. It’s going to pay significant dividends over time as it will have a big cost return to it, not just in terms of improved productivity, but the ability to fairly substantially restructure the domestic fleet. But that those costs came in right away so that’s in our September guidance as well, and that was another big piece.
Quote 2
24OCT13
Operator
We’ll take our next question from Mary Jane Credeur with Bloomberg News.
Mary Jane Credeur - Bloomberg News
Hi, folks. Can you talk a little bit about how you’re going to afford that new pilot contract?
Richard Anderson
Hi, Mary Jane, this is Richard. Sorry for not saying hello. When you look at the overall value that we’re going to create as a result of unlocking the ability to refleet plus the productivity that has been built into that agreement, we’re confident that it will be an important part of our ability to get to unit cost over the next couple of years to improve our margins and our return on invested capital.
Glen Hauenstein
And, Mary Jane, this is Ed. One additional thing, we also reduced the profit sharing going forward and that’s an important part of helping to fund that cost growth.
Mary Jane Credeur - Bloomberg News
Sure. Okay. Thank you.
Operator
We’ll take our next question from...
Quote 1
25JUL13
Richard Anderson [opening statement]
With the benefits achieved with our new pilot agreement, we have the flexibility we need to both accelerate our fleet restructuring and improve pilot productivity as we vary our capacity by season. The agreement enables us to up-gauge our domestic fleet by acquiring 717s and two-class regional jets which will replace more than 200 50-seat aircraft over the next few years.
Paul Jacobson [opening statement]
The retirement of the 50-seat regional jets is one of the single biggest opportunity costs we have. The up-gauging strategy will improve our efficiency by lowering our unit costs while simultaneously improving our product while maintaining our capacity discipline. Secondly, we are aligning our head count with our reduced capacity and recently had over 2,000 employees elect to participate in our voluntary early retirement program. These employees will retire by the end of the year with limited backfill, which will continue to result in improved productivity.
Ed Bastian [answering a question from UBS on CASM ex-fuel]
And I’d say the other thing, Kevin, there that we did not necessarily forecast or see coming as clearly is the opportunity we had with our pilots to do the contract early. It’s going to pay significant dividends over time as it will have a big cost return to it, not just in terms of improved productivity, but the ability to fairly substantially restructure the domestic fleet. But that those costs came in right away so that’s in our September guidance as well, and that was another big piece.
24OCT13
Operator
We’ll take our next question from Mary Jane Credeur with Bloomberg News.
Mary Jane Credeur - Bloomberg News
Hi, folks. Can you talk a little bit about how you’re going to afford that new pilot contract?
Richard Anderson
Hi, Mary Jane, this is Richard. Sorry for not saying hello. When you look at the overall value that we’re going to create as a result of unlocking the ability to refleet plus the productivity that has been built into that agreement, we’re confident that it will be an important part of our ability to get to unit cost over the next couple of years to improve our margins and our return on invested capital.
Glen Hauenstein
And, Mary Jane, this is Ed. One additional thing, we also reduced the profit sharing going forward and that’s an important part of helping to fund that cost growth.
Mary Jane Credeur - Bloomberg News
Sure. Okay. Thank you.
Operator
We’ll take our next question from...
Gets Weekends Off
Joined APC: Jan 2012
Position: MD musical chairs
Posts: 239
Thanks everyone for the credit union info!
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