Details on Delta TA
#2932
Gets Weekends Off
Joined APC: Nov 2009
Position: C560XL/XLS/XLS+
Posts: 1,278
Once you reach the 415C limit, the company pays you an additional 15% as straight pay making my effective rate for the last 4-5 months $253 an hour for this year. The early profit sharing was worth 15K for me. I am at 275k now.
#2933
Gets Weekends Off
Joined APC: Nov 2013
Position: Taxi Driver
Posts: 413
Jet fuel down .80 cents from Feb 2013. Adding $3.2 billion annually to Delta's bottom line. Plus well over $1 billion in bag fees and another $1 billion plus in ticket change fees. All this over and above being part of an oligopoly with powerful pricing power.
How about both sides set aside the past and focus on major gains in every section of our PWA? (Sorry Captain Moak)
Even Charlie Brown can get lucky in this environment.
Jerry
How about both sides set aside the past and focus on major gains in every section of our PWA? (Sorry Captain Moak)
Even Charlie Brown can get lucky in this environment.
Jerry
#2934
Gets Weekends Off
Joined APC: Jan 2006
Posts: 1,597
You are correct that Delta management is incentivized to keep the share price going higher. That is their job. You are incorrect in saying that by doing things to increase the share price such as dividends or share buybacks (or as you call it the "shareholder value bonfire"), they are transferring money away from Delta's future. Your future as an employee will be much better off with a higher stock price. If Delta's stock price crashes, management will be under more pressure from shareholders and the board of the directors to cut costs to increase profitability. That means less pay, longer hours, and worse work rules for you.
I still don't understand why Delta profit sharing isn't paid out in Delta stock. That would be the best way to align the interests of management, employees, and share holders.
If you're concerned about that "shareholder value bonfire", why don't you go out and buy some Delta stock?? Every analyst in the world has it rated a buy. It's been on a tear for the past 3 years. And now the price of oil has just crashed more than 20% in the past 3 months.
#2935
Straight QOL, homie
Joined APC: Feb 2012
Position: Record-Shattering Profit Facilitator
Posts: 4,202
Delta has taken our cooperation for granted. They think we will work for whatever they offer plus a few "attaboys."
We need the credible threat of labor discord if we are serious about maximizing our career earnings.
My future earnings potential and manhood each get exponentially smaller every time RA says "labor risk is off the table." And let's be honest...I can't afford a reduction in either.
Where is MD to put the pressure on management? Where is the leadership? Where is the fire in his belly we were promised when he was elected? So far, we've seen nothing from him that sets him apart from Moak or O'Malley; nothing but tepid letters and empty words.
We need the credible threat of labor discord if we are serious about maximizing our career earnings.
My future earnings potential and manhood each get exponentially smaller every time RA says "labor risk is off the table." And let's be honest...I can't afford a reduction in either.
Where is MD to put the pressure on management? Where is the leadership? Where is the fire in his belly we were promised when he was elected? So far, we've seen nothing from him that sets him apart from Moak or O'Malley; nothing but tepid letters and empty words.
#2936
You are correct sir, but you've forgotten a very important point. Management is paid primarily in stock and options. While what you state would indeed be in the long term best interests of our airline, it would not be in the best interest of maximum short term stock price. By "throwing billions into the shareholder value bonfire", they are actually transferring money for Delta's future...to their own pockets. That's our dilemma.
Carl
Last edited by Carl Spackler; 10-19-2014 at 03:33 PM.
#2937
Understood that the 15% comes as taxable pay once the limit is reached. Isn't that just a question of where the same total amount of money went? In order to reach the limit, money that would otherwise have shown up in your checking account instead showed up in your DPSP--on a dollar-for-dollar basis. In other words, the total amount of income that qualifies for 15% company contribution is unchanged, and 15% of that amount is 15%, regardless of in what form it's paid.
Yes/no? I'm new, and I'd LOVE to be wrong about this. Are you saying perhaps that the 15% earns its own 15% when it's paid directly? (Not my understanding of how it works, but again, happy to learn if I'm wrong!)
#2938
Look at Honda or Toyota, two brands known for long term quality. Either could destroy/monetize their own long term quality tomorrow, transfer a ton of money to their investors and it would be a year or two before word got out, their brand got tarnished by the customers and by then they could be long gone. Ditto for any company of course.
Carl
#2939
You're not being paid an extra 15%. Just instead of going into your 401k and not taxable, it goes in with the rest of your normal paycheck and is taxable.
#2940
If you're concerned about that "shareholder value bonfire", why don't you go out and buy some Delta stock?? Every analyst in the world has it rated a buy. It's been on a tear for the past 3 years. And now the price of oil has just crashed more than 20% in the past 3 months.
Carl
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