Planetrain

EXACTLY!!!!!

Something doesn't add up.

Whaledrivr

If I was a Delta pilot, I'd be worried about the proposed scope article; giving up seats to Air France, KLM, BA. These are your jobs!!
As a 20+ year UPS pilot, I was hoping your TA would be setting the bar higher for the rest of us.
It's your 1st offer from Delta, don't be scared to vote NO.

ghilis101

Europe is the tip of the iceberg Whale. Asia is inevitably next when we give away more widebody flying in a China JV.

Scared is the perfect word. So many pilots are scared. Scared to rock the boat, scared to speak up, scared to call in sick, scared to do anything. Our pilots have been beaten into submission and they feel powerless. The ironic thing is their NO vote can make us collectively the most powerful pilot group in America. Theyre just scared. You said it perfectly.

scambo1

Except management employees equity sales are subtracted from ptix in ta15. RAs equity is $770,000,000 he is one of 2400 management employees with issued equities.

$200m is the low estimate on annual effect. That is not included in the ps conversion formula.

sailingfun

RA alone holds ¾ of a billion dollars in Delta equity?

scambo1

Yup.............

ERflyer

From Contrails 23:

Q. Why did we include management salaries and “equity compensation” in the profit sharing formula to calculate PTIX?

A. Management salaries were always factored into the PTIX calculation. It is only the equity securities piece and incentive compensation that was not included. Under either current PWA or the TA, if Mr. Anderson gets a huge raise in his salary, the impact is the same (that is, it’s treated just like compensation for any other employee). It is true that if Mr. Anderson’s salary goes up, the profit sharing is decreased . . . but that’s the case today.

In 2014, the equity securities and incentive compensation piece was $231M. Going forward, that will no longer be excluded. If you assume PTIX above $6B, that’s a change to the total profit sharing payout of $46.2M (231 * 20 percent) – or about $17.7M to the pilots. If PTIX is less than $6B, the impact is half of that. This is included in the 5.74 percent we secured below $6B PTIX.

ghilis101

ERFlyer, most executives are paid a low base salary and earn the majority of their salaries in equities and incentive compensation. Take a look at the equity payouts RA and EB get every 3 months. Its rather eye opening. Yup, and now that will be coming out of our pockets. Go to yahoo finance, type in DAL, and on the lefthand column click on insider trading (or something like that)

ghilis101

and while were on the subject:

the company NEEDED profit sharing reduced to appease wall street
the company NEEDED all our work rule efficiencies and sick language

but...

the company NEEDED to withdraw their executive compensation (equity / bonuses) from our profit sharing? whaaaat? why did we give them this for free again? And for you yes voters, why does this not bother you?

scambo1

Salary and equity are different. I posted correct info. Also rearward looking data is only useful as an estimate. I wrote $200m was the low estimate. Forward looking, RA + 2400 of his closest buddies will be included in what is subtracted from ptix....before PS is calculated. $231 was historical data.

If RA decides to liquidate along with a bunch of heavy hitters, the can keep us below $6B ptix if they want to.

Your info is correct, just not complete. My info is the rest of the story.

In short, they can keep us at 10% as opposed to 20% and raising the measuring line to $6b makes it relatively easier to do.

This is a concession - going from 20% above $2.5b to 20% above $6b. And now subtracting equity first. - that will hit everyone in the pocketbook. Two concessions in one line item...for what? An 8% raise.

DALPA's money guy said 2018 ptix was estimated to be $9-11B. Calculate 20% above 2.5B on that to see what is being given up. Based upon my last PS, I come up short about $50K/yr versus status quo.