term sheet a kick in pants
02-11-2024, 06:35 AM
#91
Gets Weekends Off
Joined APC: Feb 2013
Posts: 641
Simple math says 39,000 X 4 = 156,000 X 5808 (number of pilots on MSL) = 906,048,000. Our aplan increase cost 900 Million bucks. Delta and United got a 2% increase in their retirement. They got a huge increase in Pay and a small increase in retirement, we got a huge increase in retirement and a half of their increase in pay.
In my opinion as a 23 year fedex guy, if you want Delta payrates we need to take money out of retirement.
In my opinion as a 23 year fedex guy, if you want Delta payrates we need to take money out of retirement.
where is your fight, man? why are you so determined to shuffle money around instead of demanding more? do you benefit from stock buy backs?
02-11-2024, 06:53 AM
#92
Gets Weekends Off
Joined APC: Aug 2006
Posts: 688
How does that math even add up? We are all not taking the retirement in the four years of the contract. Really need to take age of retirement x longevity tables when you stop drawing it x $39K.
So if I retire at 63 with high five and 25 YOS and tables say I will live to 79 then it would be 16 years X $39K or an added value of $624K in addition to my already agreed up $130K a year. Maybe I get lucky and live to 90. So for me the extra value to me and cost to the comapny would be $1,053,000.
So there are quite a few variables which require some estimates.
So if I retire at 63 with high five and 25 YOS and tables say I will live to 79 then it would be 16 years X $39K or an added value of $624K in addition to my already agreed up $130K a year. Maybe I get lucky and live to 90. So for me the extra value to me and cost to the comapny would be $1,053,000.
So there are quite a few variables which require some estimates.
02-11-2024, 07:41 AM
#94
Line Holder
Joined APC: Dec 2017
Posts: 31
Also let’s not forget that $100K in 2045 does not have a NPV of $100K, for the same reason that $169K/yr for a soon-to-be retiree doesn’t have the same earning power it would for me retiring in 20+ years.
The “solve that problem later” crowd is delusional. Once the company jettisons the A-plan they have zero incentive to revisit those grandfathered into it, and the ever-growing group of pilots not on it won’t care either. If the company wants out of the A-plan and we’re gonna play ball - price it out right and get our value out of the proposition. Show us the math and put to rest this persistent multi-sourced rumor that it was sunset for zero credit.
We’re all about transparency, right? Make it so.
The “solve that problem later” crowd is delusional. Once the company jettisons the A-plan they have zero incentive to revisit those grandfathered into it, and the ever-growing group of pilots not on it won’t care either. If the company wants out of the A-plan and we’re gonna play ball - price it out right and get our value out of the proposition. Show us the math and put to rest this persistent multi-sourced rumor that it was sunset for zero credit.
We’re all about transparency, right? Make it so.
02-11-2024, 08:10 AM
#95
New Hire
Joined APC: Feb 2023
Posts: 7
What ALPA National and FedEx ALPA should do, in terms of their cost analysis, is determine the amount of money from the CARES ACT that was used to fund early retirements at other ALPA carriers during the pandemic, namely Delta Air Lines and United, and then add that prorated total to the ask. That additional $$ could then be parlayed into funding early retirements for FedEx pilots and also providing some form of compensation beyond retro to those who have retired from FedEx since the rejection of TA1. Does the mediator overseeing negotiations understand this disparity?
The issue for FedEx pilots is they are demographically top heavy relative to the big 4 who were able to utilize taxpayer subsidies to retire their most senior pilots. This has added to the difficulty in achieving a ratifiable agreement at FedEx.
The issue for FedEx pilots is they are demographically top heavy relative to the big 4 who were able to utilize taxpayer subsidies to retire their most senior pilots. This has added to the difficulty in achieving a ratifiable agreement at FedEx.
02-11-2024, 08:35 AM
#96
Gets Weekends Off
Joined APC: Aug 2023
Posts: 424
Also let’s not forget that $100K in 2045 does not have a NPV of $100K, for the same reason that $169K/yr for a soon-to-be retiree doesn’t have the same earning power it would for me retiring in 20+ years.
The “solve that problem later” crowd is delusional. Once the company jettisons the A-plan they have zero incentive to revisit those grandfathered into it, and the ever-growing group of pilots not on it won’t care either. If the company wants out of the A-plan and we’re gonna play ball - price it out right and get our value out of the proposition. Show us the math and put to rest this persistent multi-sourced rumor that it was sunset for zero credit.
We’re all about transparency, right? Make it so.
The “solve that problem later” crowd is delusional. Once the company jettisons the A-plan they have zero incentive to revisit those grandfathered into it, and the ever-growing group of pilots not on it won’t care either. If the company wants out of the A-plan and we’re gonna play ball - price it out right and get our value out of the proposition. Show us the math and put to rest this persistent multi-sourced rumor that it was sunset for zero credit.
We’re all about transparency, right? Make it so.
02-11-2024, 09:15 AM
#98
Gets Weekends Off
Joined APC: Aug 2019
Posts: 1,066
Simple math says 39,000 X 4 = 156,000 X 5808 (number of pilots on MSL) = 906,048,000. Our aplan increase cost 900 Million bucks. Delta and United got a 2% increase in their retirement. They got a huge increase in Pay and a small increase in retirement, we got a huge increase in retirement and a half of their increase in pay.
In my opinion as a 23 year fedex guy, if you want Delta payrates we need to take money out of retirement.
In my opinion as a 23 year fedex guy, if you want Delta payrates we need to take money out of retirement.
02-11-2024, 09:40 AM
#99
On Reserve
Joined APC: Dec 2023
Posts: 18
Thanks Bigs...I got the NOQ part. I am still just trying to understand why the "vocal no voter" (from 318's earlier comment) was placed in NOQ in the first place. That part is missing. So he ended up leaving? There has to be more to the story....just saying.
02-11-2024, 09:49 AM
#100
Line Holder
Joined APC: Dec 2017
Posts: 31
IMHO, pretty easy to read between the lines.
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