Frontier Negotiations Discussion
11-11-2018, 06:09 AM
#3171
Gets Weekends Off
Joined APC: Apr 2016
Posts: 550
In March of 2020, Biffle will be fully vested in his 2% stock ownership (S-1, p115).
With a 2.5B valuation, that's a $50,000,000 equity stake in Frontier. Roughly half of what fapa invest participants will get. Half.
Anyone else want to devalue what our CEO receives in compensation at our expense? The timing of this new TA is for the sole purpose of a sale, whether through an IPO or a merger.
I will be voting no. It's a reduced discount proposal, and everyone knows it but the yes voters.
With a 2.5B valuation, that's a $50,000,000 equity stake in Frontier. Roughly half of what fapa invest participants will get. Half.
Anyone else want to devalue what our CEO receives in compensation at our expense? The timing of this new TA is for the sole purpose of a sale, whether through an IPO or a merger.
I will be voting no. It's a reduced discount proposal, and everyone knows it but the yes voters.
11-11-2018, 06:30 AM
#3172
Slave
Joined APC: Oct 2016
Position: Hot tub
Posts: 1,411
Are you a moron or something? First off, $270 is not at the bottom.
Second explain how $41,000 a day translates into $500,000 a month???
Also, explain how $500,000 a month tanslates into the S1 filing of Biffle's salary of $475,000 a year??? Don't talk about stock option award number in the S1 filing, because you will only serve to prove yourself as the said moron.
Again, I ask, are you a moron?
Second explain how $41,000 a day translates into $500,000 a month???
Also, explain how $500,000 a month tanslates into the S1 filing of Biffle's salary of $475,000 a year??? Don't talk about stock option award number in the S1 filing, because you will only serve to prove yourself as the said moron.
Again, I ask, are you a moron?
11-11-2018, 07:02 AM
#3174
Gets Weekends Off
Thread Starter
Joined APC: Feb 2014
Position: Lineholder
Posts: 1,442
11-11-2018, 07:13 AM
#3175
Gets Weekends Off
Joined APC: Nov 2012
Position: 1900D CA
Posts: 3,490
Has anyone who has spoken to a rep know what the significance of March 2nd is?
I know someone said perhaps it's the day after Spirit signed, or the date of their annual raises? It just seems odd to me
I know someone said perhaps it's the day after Spirit signed, or the date of their annual raises? It just seems odd to me
11-11-2018, 08:43 AM
#3176
Gets Weekends Off
Joined APC: Apr 2017
Posts: 465
March 2nd does seem odd. I'd like to ask somebody who may understand this process better than me, what happens if we turn this down and there actually is a merger in the works?
Do we just stick with what we have until a JCBA is agreed upon and then loose a signing bonus because a the group we merge with is larger and would never agree to give a bonus to just our 1/3 of the total group. Or if because it would be merging with a publicly traded company would the public/board not like the huge gap between labor groups and see that as instability forcing a contract for us before the airlines are merged?
It seems it could potentially go either way, but I think there are several who genuinely don't fully understand how that kind of even could play out, myself included. As this is certainly something that could sway nays to ayes, thus if the situation should not be a concern please explain how and why so we have something to reference.
11-11-2018, 09:04 AM
#3178
Gets Weekends Off
Joined APC: Dec 2012
Posts: 2,184
March 2nd does seem odd. I'd like to ask somebody who may understand this process better than me, what happens if we turn this down and there actually is a merger in the works?
Do we just stick with what we have until a JCBA is agreed upon and then loose a signing bonus because a the group we merge with is larger and would never agree to give a bonus to just our 1/3 of the total group. Or if because it would be merging with a publicly traded company would the public/board not like the huge gap between labor groups and see that as instability forcing a contract for us before the airlines are merged?
It seems it could potentially go either way, but I think there are several who genuinely don't fully understand how that kind of even could play out, myself included. As this is certainly something that could sway nays to ayes, thus if the situation should not be a concern please explain how and why so we have something to reference.
Do we just stick with what we have until a JCBA is agreed upon and then loose a signing bonus because a the group we merge with is larger and would never agree to give a bonus to just our 1/3 of the total group. Or if because it would be merging with a publicly traded company would the public/board not like the huge gap between labor groups and see that as instability forcing a contract for us before the airlines are merged?
It seems it could potentially go either way, but I think there are several who genuinely don't fully understand how that kind of even could play out, myself included. As this is certainly something that could sway nays to ayes, thus if the situation should not be a concern please explain how and why so we have something to reference.
Last edited by fcoolaiddrinker; 11-11-2018 at 09:49 AM.
11-11-2018, 09:28 AM
#3179
On Reserve
Joined APC: May 2011
Posts: 17
What doea it take to get a no to a yes? No pbs? An extra $20/HR? Profit sharing? Better LTD? More vacation/personal days/hrs? Everything?
The truth of the matter is that in a negotiation there is give and take. One could simply sum everything up as one number....$150 million a year, or any number that equals the cost of total pilot compensation. From that number the NC has to put a value on everything negotiated and the pilot priorities and come up with a contract offer. Part of the difficulties with the process is clearly not everyone benifits equally from the same parts of the contract. As a Jr person and a commuter, who actually likes dats off, I have never benefited from the current vacation policey like some. I do get screwed by the DH all the time though. I don't have kids so I do not get screwed by the current healthcare though. But being jr I get the crap 10hr three days and the 5hr duty limit will be nice.
The point being is some think any amount of pay with pbs is a bad deal. I flew under pbs at OO and didn't have a problem for the most part and was told that system was not even a good system. However I did Ushually get everything I wanted and the pilot to pilot trade was much better than our current one. I am sure there were some folks at OO that hated it.
The big question. Is how long are you willing to wait to get more money? If the company came back in a few months with an additional 5 million is that enough? What if it was to go towards better healthcare or 1% more in retirement or an additional $15/HR in all rates? But, what if it took a year to get all three? We would be flying with our current rates losing money compared to the proposed AIP (not complete yet) and would almost certainly never make up that money over the course of the contract.
The bottom line is not everyone is going to be 100% happy, not even management. That is the essence of a compromise. As someone posted before if the cobtract is approved with 51% its a management win. With 100% a pilot win. 75% we both win.
Now flame away and let your rage reign! ( not rain but that is a whole other thread)
The truth of the matter is that in a negotiation there is give and take. One could simply sum everything up as one number....$150 million a year, or any number that equals the cost of total pilot compensation. From that number the NC has to put a value on everything negotiated and the pilot priorities and come up with a contract offer. Part of the difficulties with the process is clearly not everyone benifits equally from the same parts of the contract. As a Jr person and a commuter, who actually likes dats off, I have never benefited from the current vacation policey like some. I do get screwed by the DH all the time though. I don't have kids so I do not get screwed by the current healthcare though. But being jr I get the crap 10hr three days and the 5hr duty limit will be nice.
The point being is some think any amount of pay with pbs is a bad deal. I flew under pbs at OO and didn't have a problem for the most part and was told that system was not even a good system. However I did Ushually get everything I wanted and the pilot to pilot trade was much better than our current one. I am sure there were some folks at OO that hated it.
The big question. Is how long are you willing to wait to get more money? If the company came back in a few months with an additional 5 million is that enough? What if it was to go towards better healthcare or 1% more in retirement or an additional $15/HR in all rates? But, what if it took a year to get all three? We would be flying with our current rates losing money compared to the proposed AIP (not complete yet) and would almost certainly never make up that money over the course of the contract.
The bottom line is not everyone is going to be 100% happy, not even management. That is the essence of a compromise. As someone posted before if the cobtract is approved with 51% its a management win. With 100% a pilot win. 75% we both win.
Now flame away and let your rage reign! ( not rain but that is a whole other thread)
11-11-2018, 09:44 AM
#3180
Gets Weekends Off
Joined APC: Apr 2016
Posts: 306
To me there’s no offer till I see a good offer. Funny how there’s no vacation cancellations in arguably one of the busiest travel seasons. Maybe October might be a little busier.
“Good will” may not have any value, but “BAD will” sure does!!!
WINTER IS COMING!
1000% READY TO STRIKE!!!
“Good will” may not have any value, but “BAD will” sure does!!!
WINTER IS COMING!
1000% READY TO STRIKE!!!
Thread
Thread Starter
Forum
Replies
Last Post
