Delta Pilots Association
#2921
Gets Weekends Off
Joined APC: Feb 2008
Posts: 2,539
With the timeline you describe above, I'm sure you remember 1993, right...? That's the one where you took concessions to avoid bankruptcy and undercut other airlines?
#2922
I don't know, T, but I believe there has to be a better way. We need to find a way to get paid when management and capital gets paid. We need to find a way to reap a substantial share of the gains we help create, but protect our pilots and company on the downside of this cyclical industry.
Look at 1996-2000. After a concessionary contract the company made record profits. We benefited only slightly (first tranche of stock options and 8% profit sharing turned into a raise). We left a whole bunch of money on the table. Leo the CEO does his "contract is a contract" thing...and we generate leverage for C2K. From 2001 to 2004 the company loses billions, while our pilots in aggregate are paid billions more than their peers. Hello LOA-46 and pension freeze, then bankruptcy. That same scenario has been played out throughout deregulation, just the amplitude kept getting bigger.
Pardon me for not wanting to jump back into that cycle. There has got to be a better way.
Look at 1996-2000. After a concessionary contract the company made record profits. We benefited only slightly (first tranche of stock options and 8% profit sharing turned into a raise). We left a whole bunch of money on the table. Leo the CEO does his "contract is a contract" thing...and we generate leverage for C2K. From 2001 to 2004 the company loses billions, while our pilots in aggregate are paid billions more than their peers. Hello LOA-46 and pension freeze, then bankruptcy. That same scenario has been played out throughout deregulation, just the amplitude kept getting bigger.
Pardon me for not wanting to jump back into that cycle. There has got to be a better way.
One thing I definitely agree with Carl is that we need snapbacks on ANY concessionary contract that we will see in the future. Anything less is stupid...
#2923
T-
I agree. Snap backs are a must. If it ever comes to a concessionary period again, we must not agree until that is part of it. It can be incremental depending on some metric (time etc) but they are needed.
USAPA is in court about theirs, and Midwest had them.
Of course that is if we do not do some sort of pay scheme that allows bonuses, etc to stop when the company hits X loss. If we go with traditional pay, then yes, snap backs are not just desired, but mandatory.
I agree. Snap backs are a must. If it ever comes to a concessionary period again, we must not agree until that is part of it. It can be incremental depending on some metric (time etc) but they are needed.
USAPA is in court about theirs, and Midwest had them.
Of course that is if we do not do some sort of pay scheme that allows bonuses, etc to stop when the company hits X loss. If we go with traditional pay, then yes, snap backs are not just desired, but mandatory.
#2924
Degrading the progress made decades before you were born shows ignorance, not a desire to make gains.
Carl
#2925
Besides, talk of choking chickens belongs on another thread I think.
Carl
#2926
Gets Weekends Off
Joined APC: Jul 2008
Posts: 5,040
T-
I agree. Snap backs are a must. If it ever comes to a concessionary period again, we must not agree until that is part of it. It can be incremental depending on some metric (time etc) but they are needed.
USAPA is in court about theirs, and Midwest had them.
Of course that is if we do not do some sort of pay scheme that allows bonuses, etc to stop when the company hits X loss. If we go with traditional pay, then yes, snap backs are not just desired, but mandatory.
I agree. Snap backs are a must. If it ever comes to a concessionary period again, we must not agree until that is part of it. It can be incremental depending on some metric (time etc) but they are needed.
USAPA is in court about theirs, and Midwest had them.
Of course that is if we do not do some sort of pay scheme that allows bonuses, etc to stop when the company hits X loss. If we go with traditional pay, then yes, snap backs are not just desired, but mandatory.
#2927
Carl
#2928
Carl
#2929
Gets Weekends Off
Joined APC: Feb 2008
Posts: 2,539
#2930
Use your imagination if you have one. Picture a stock graph of Google or Apple. Long term steady upward movement, with a relatively small dip along the way up. Only a drama queen like you would call that boom and bust.
Carl
Carl
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