Any "Latest & Greatest" about Delta?
06-13-2015, 03:24 PM
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Are you saying a majority of Delta pilots wanted to reduced profit sharing in the DALPA contract survey?
You don't need a survey to make severe concessions in exchange for on 8% hourly increase and two 3%.cost of living increases.
Maybe Mike Hanson will say we won't see the 3% and 3%. We can trust him.
You don't need a survey to make severe concessions in exchange for on 8% hourly increase and two 3%.cost of living increases.
Maybe Mike Hanson will say we won't see the 3% and 3%. We can trust him.
06-13-2015, 03:49 PM
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CS says they expect $500 million in savings.
We reduced profit sharing from 20% to 10% from $2.5 to $6Billion.
That's a savings of $350 million. The non-contracts get a 5% match on their 401K, we get a 15% contribution. Rolled together that's just under 10%, or another $35 million. Total of $385 million in savings.
Employer SSDI/OASDI and payroll taxes are a wash, as our wage rates completely replace our profit sharing payment. I suspect, but can't prove, that non-contract wage rate changes will do the same thing, just like they did in 2012.
The biggest error is in timing. Wages are paid ahead of profit sharing accrual (those are at the end of quarter).
The Barrons article used a profit sharing change up to $6.5 billion, which induced another $50 million+ of error.
FWIW.
We reduced profit sharing from 20% to 10% from $2.5 to $6Billion.
That's a savings of $350 million. The non-contracts get a 5% match on their 401K, we get a 15% contribution. Rolled together that's just under 10%, or another $35 million. Total of $385 million in savings.
Employer SSDI/OASDI and payroll taxes are a wash, as our wage rates completely replace our profit sharing payment. I suspect, but can't prove, that non-contract wage rate changes will do the same thing, just like they did in 2012.
The biggest error is in timing. Wages are paid ahead of profit sharing accrual (those are at the end of quarter).
The Barrons article used a profit sharing change up to $6.5 billion, which induced another $50 million+ of error.
FWIW.
06-13-2015, 04:47 PM
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Now at least somebody is being honest about this. Look, I am not defending this thing, but this blanket BS about it not being followed is simply unprovable as the whole. It is merely a starting point, and I am sure they tried to get as much as they could. One of the former negotiators told me once that I would have been amazed to see how low the aggregate pay increase desires were in the previous surveys. Can I prove that? Nope. I know what he told me, and that's good enough for me, because I have known him a long time and he wouldn't lie to me about that. I didn't want PS touched on THIS contract, in section 6. It obviously doesn't reflect that desire. That doesn't mean there aren't 6000 guys that didn't put down they were willing to accept a trade to hard rates. I even get the logic of it, I just happen to believe that the business "DAL" is going to be doing well for some time to come, and that PS was going to be "safe" for at least this contract. So just because it doesn't reflect your desires or my desires doesn't mean it wasn't followed or that some hard decisions weren't made in the negotiations room. So all you guys that are so unhappy with this thing, vote no. That's fine. I am probably leaning that way, but I still need more information on some things.
06-13-2015, 05:41 PM
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06-13-2015, 08:11 PM
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Okay Slow, I follow the math now. So it's not a "cost positive" deal for the company. On the other hand it's not costing them anything out of pocket either. Not real thrilled with taking a raise off the backs of the rest of the employees at Delta. You know that how it will be viewed by every other line employee.
Denny
Denny
06-13-2015, 08:57 PM
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06-14-2015, 02:09 AM
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06-14-2015, 03:42 AM
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If we pass the TA, Mgt will say nothing, but as Denny points out based on analyst estimates our raise WILL come at the expense of fellow employees' profit sharing.
06-14-2015, 04:12 AM
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July A scheds are out.
06-14-2015, 05:02 AM
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