MikeF16

While not a foreign carrier, JB set a company record for the amount of packages they carried for UPS last quarter. Source was a company memo to pilots that guys in my crash pad shared.

Carl Spackler

How would you know about any of this? You're brand new and have experienced nothing yet. Every single Section 6 I've been involved with since 1979 had retro pay back to the amendable date. That's historically accurate. Denigrate what you know nothing about as you wish, but you look foolish doing so.

Carl

Carl Spackler

What relevance would that have without knowing what their respective openers were? Without the panic of Delta management to take back employee profit sharing to some degree, Delta management could be deciding to drag their feet as well...in spite of folks like you offering to accept anything to make fear of the unknown go away.

By trying to denigrate what's going on at UPS/FDX/SWA, your undeserved arrogance just makes Delta pilots look arrogant and disconnected. You're doing us no favors ace.

Carl

hockeypilot44

I will say that it seems the days of full retro pay are over. The new thing is for management to delay a new contract as long as possible, then offer a signing bonus which is usually fractions of what retro pay would be. It seems management is getting better at exploiting the railway labor act and self help is almost impossible without breaking or bending some laws. ALPA is not willing to do that thus our leverage is almost non-existant.

Carl Spackler

You and scambo haven't posted anything on retro pay, but I did recently on another thread.

Carl

Carl Spackler

When have Delta pilots set a precedent of rejecting a TA?

Carl

shiznit

Weird, look at the line "Funded status of the plans".. Normally the parentheses around a number denote a negative (i.e. underfunded). FDX must use different nomenclature.



They also plan on making a 580,000,000 contribution in 2015.

Except from page 53 of the most recent FDX 10K.

Carl Spackler

No, it's not. It's the price we paid for fear and a non-existent time crunch. We didn't need a deal on FAR 117...management desperately needed it. That was huge leverage for us to simply walk away when management demanded to extract a price for our dysfunction. Walking away is what any professional negotiator would have done. Instead, we ran scared and accepted punishment from management even though we had the leverage.

Sad and truly embarrassing what amateurs we send in to negotiate on our behalf sometimes.

Carl

Elliot

Carl Spackler

The table from their 10-K is for ALL employees pension plans at FDX. The last numbers I saw for the pilot's pension plan showed an over funding. In other words, extremely healthy. Maybe a FDX guy could clarify.

I really liked this from their statement however:

"We assumed a 7.75% expected long-term rate of return on our U.S. Pension Plan assets in 2014 and 8% in 2013 and 2012. The actual returns during each of the last three fiscal years have exceeded those long-term assumptions. For 2014, we lowered our expected return on plan assets assumption for long-term returns on plan assets to 7.75% as we refined our asset and liability management strategy."

Their entire corporate pension plans are 10% underfunded, and they've been steadily making over 8% for a while now. Absolutely great fund managers.

Anyway, FDX has healthy DB pensions for its pilots as well as industry leading compensation. I'd take their contract as is immediately. I'll bet they don't have purple slips either.

Carl