Company reneged on pay package
06-20-2019, 09:52 AM
#141
Gets Weekends Off
Joined APC: Feb 2014
Position: Semi-Retired...
Posts: 3,255
06-20-2019, 09:54 AM
#142
Gets Weekends Off
Joined APC: Feb 2014
Position: Semi-Retired...
Posts: 3,255
I’d encourage all to not respond publicly or in private anything management could use later
Contact your reps or P2P
06-20-2019, 10:20 AM
#143
Line Holder
Joined APC: May 2019
Posts: 75
From experience in these things though, it's pretty easy math. AAG is a 14B market cap company with 44B in revenue...but ~$1.4 B in net. I've worked for ~2.5 Billion market cap companies that the General Counsel had a budget of over $20MM a year.
Facing a contract increase that could be easily $5MM to $10MM per year, it's pretty easy to math to drop $1.5 MM on outside counsel.
If you are right though, it's even more depressing for the pilots of Envoy. That means you just got smoked by a couple of C student schmucks working 9-5 for the company.
06-20-2019, 10:51 AM
#144
Gets Weekends Off
Joined APC: Feb 2014
Position: Semi-Retired...
Posts: 3,255
You may be right, i'm not in the General Counsel's office (the guy that has to defend and budget spending on internal/external counsel).
From experience in these things though, it's pretty easy math. AAG is a 14B market cap company with 44B in revenue...but ~$1.4 B in net. I've worked for ~2.5 Billion market cap companies that the General Counsel had a budget of over $20MM a year.
Facing a contract increase that could be easily $5MM to $10MM per year, it's pretty easy to math to drop $1.5 MM on outside counsel.
If you are right though, it's even more depressing for the pilots of Envoy. That means you just got smoked by a couple of C student schmucks working 9-5 for the company.
From experience in these things though, it's pretty easy math. AAG is a 14B market cap company with 44B in revenue...but ~$1.4 B in net. I've worked for ~2.5 Billion market cap companies that the General Counsel had a budget of over $20MM a year.
Facing a contract increase that could be easily $5MM to $10MM per year, it's pretty easy to math to drop $1.5 MM on outside counsel.
If you are right though, it's even more depressing for the pilots of Envoy. That means you just got smoked by a couple of C student schmucks working 9-5 for the company.
06-20-2019, 10:59 AM
#145
Line Holder
Joined APC: May 2019
Posts: 75
AMR/AAG legal had a $31M budget and an army of lawyers on staff as far back as 2010. Can’t imagine it’s gotten any smaller from what I’ve seen they’ve taken on more at each level of the corporation and subsidiaries.... not to mention the contracted firm F&H to specifically handle labor.
06-20-2019, 11:46 AM
#146
Gets Weekends Off
Joined APC: Mar 2017
Posts: 3,789
Yep, serious business for sure. I tell guys don't underestimate how much "the will to win" plays into this as well. The internal counsel staff almost always kicks this external; juniors start at $250/hr, Sr's at $500, and Principals at $750 plus at most firms that handle this work. I've expert witnessed on a couple of these that had an exposure of only $3.5MM to the company. Bill for that was over $1.0MM.
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