Wrong again. History has proven time and time again that when airline employees forgo real pay increases for "non-traditional compensation" they get screwed. This is and always will be a thin margined buisiness and the bosse will never "share the good times. Their version of sharing is "A couplw of million for me and a six pack of beer for everyone else". Hell we dont have to look that far, how much have we gotten so far from our "profit sharing plan " of 2003? ZERO. How much are we likely to see over the term of the 2003 agreement/ ZERO, so now we should settle for more of the same?
Kinda hard for the greedy execs to deny you your due if you owned half or more of the company. Your failure (and your union's failure) to demand at least half the equity in April, 2003 sure ain't Arpey's fault. It's not management's job to negotiate for you. The 19% was a nice start, but that should have been rejected. ESOPs are bad ideas, but at UAL, the pilots and mechanics got 55% of the company when they agreed to large concessions. You losers (in the aggregate) settled for a mere 19% in exchange for your huge concessions. And that 19% was shared with the FAs (which didn't happen at UAL). And then you whine when it turns out that the execs negotiated a disproportionate reward for the turnaround. You're pissed at the execs for your failure to secure competent union representation. That's rich.
On the profit sharing, I agree with you. Even though AA is likely to make $500 million in the 3rd quarter alone, fuel is likely to decimate the 4th quarter, meaning the employees will probably get 15% of 400 million or so, or about $60 million. Nothing to get excited about.
If we want to profit from the companies good fortune we can take our raise , dump it in the 401K and put more into company stock.
Yep, that will work real well if you get a huge raise, which isn't likely to happen.
Our best bet right now is to make sure we have OT by not working ourselves out of OT, its a lot more reliable than any of the plans of shared gain the Little and Arpey team could dream up. Certainly better than chasing a carrot on a string. With some stations up to 500 hours its doubtful that any "shared gain"plan will come close to the extra $30k they can see with OT.
I thought it was "wrong" to accept OT when your fellow union brothers were furloughed. Here's what Princess said about that the other day:
Greedy people couldn't turn down overtime while our fellow union brothers and sisters are on the street from the layoffs,and you expect people to vote no on this contract extension? Ha!Ha!Ha!Ha! Who are you kidding? This thing will be voted in with no problem and AA will be laughing all the way to the bank as usual. As far as changing unions, It's too late for that. The Evil TWU should have kicked out years ago, but the same people who will vote in this contract extension have kept the TWU in power.
I think Ken MacTiernan has recently posted that it's just plane wrong to accept any OT while your brothers are on the street. Which is it? Anyway - I agree with you. Work extra hours to make up what you lost. Doesn't do much for your quality of life, but it does pay the bills.
The fact is the company is having trouble with the pilots and they want their lapdog TWU out of the way, so all of a sudden Jim Little decides we need "immediate relief" (funny how for the last four years we were fine according to Little) just months before things start to heat up with the pilots and FA's who are going for full restoration. Little will try to jam a two year extension through with threats to the bases.
😀 😀 FA Mikey hit it on the head. AA's not having any "trouble" with the pilots. They're the ones whose huge pensions are vulnerable - and they know it. Lots of huffing and puffing by the Big Clocks pilots but it ain't gonna get them their 31% raise plus their huge signing bonus. FAs? They've got no real leverage. Even if the pilots and FAs DID have any real leverage, it's not like that matters; AA doesn't have an extra $1.62 billion a year to restore everyone's pay. AA's still constrained by that pesky profit and loss equation.
I dont care what figure they throw on the table, I want my Holidays, Vacation, sick time, DT, PL, OMA and everything else they took plus adjusting our pay back up to where it was including COLA. Anything other than that is a NO for me.
Don't forget your pony.
You want it all back. Plus a raise. Understandable considering the $120k give or take the concessions have cost you. Might as well aim high. In fact, might as well demand something like UPS pay plus 5% or so. No need to lowball your opening demand.
Best of luck. With your loser union and its loser negotiators, you'll need it.