Making Less now in 2010 than I did after 9-11

[SpinDoc]

US Airways is not setting aside anything for you, in fact IM not sure US Airways will even be around to give you a pay check much longer.

I wish I was exaggerating!

You may not be far wrong grasshopper. Prior to my exit from this glorious airline in January, I attended a management seminar in Tempe and the company treasurer gave his state of the treasury speech. He said the 2010 budget is based on oil staying at or below $75 per barrel.
If oil stays about that level for a sustained period of time, there will be additional service cutbacks and aircraft deferrals, and possibly salary and benefit cuts. The margins are razor thin and if the economy does not get considerably better in the next 6 months, US Airways will be out of business.

 

[BoeingBoy]

The lazy being these people?

I think you understood the post backwards - CSA007 was saying that Congress would have to reduce social security benefits so it would be able to fund other spending spending programs. There's potentially truth to that statement. When the SSA has to start cashing in the IOU's in the SS trust fund to pay baby boomers what's been promised in SS benefits, Congress will either have to come up with the extra money to start paying those IOU's back, face increasing deficits, or find a way not to pay for those IOU's by reducing SS spending. I guess there is a 4th option - just print more money and hit everyone with an "inflation tax".

Jim

 

[ChockJockey]

I think you understood the post backwards

Yeah that's kind of my trademark move.

 

[cubfan]

You may not be far wrong grasshopper. Prior to my exit from this glorious airline in January, I attended a management seminar in Tempe and the company treasurer gave his state of the treasury speech. He said the 2010 budget is based on oil staying at or below $75 per barrel.
If oil stays about that level for a sustained period of time, there will be additional service cutbacks and aircraft deferrals, and possibly salary and benefit cuts. The margins are razor thin and if the economy does not get considerably better in the next 6 months, US Airways will be out of business.

We all know that the airline industry is razor thin, especially us, but he actually said we will be out of business in 6mo? If that were true, wouldn't they be making moves now as opposed to just waiting for something to happen. I don't know. Oil prices as predicted by the experts should stay around 80-90.00 per barrel.

 

[BoeingBoy]

Cause hes worth to much. That's you Boeing!

Could be depending on where the line gets drawn. On the other hand, I'm the perfect example of what's coming - two workers paying into the system for every SS beneficiary. My two kids (well, not "kids" anymore) will be paying in to cover every dime I get out and that's not a future I especially want them to face. And before someone points it out, I know that they'll pay for the average benefit, not necessarily what I personally get.

Jim

 

[Ralph]

The topic is "Making less now in 2010 than I did after 9-11." It is in regard to the ability to make a living while working at US Airways (and, ok, working in the airline industry, period these days). The topic is NOT your personal opinion of President Obama, Congress, or housing mortgages.

If you have a favorite rant about those topics, we have a forum tailor-made for you. It is called the Water Cooler. Take your political/social rants there, please.

Off-topic posts have been deleted. Time off can be awarded. If you are unfamiliar with the board rules, please read them. They are posted at the top of the US Airways forum. Thank you.

 

[USCREW]

The main lesson--particularly for the young people--is that no pension plan (if your company still has one) and no Social Security was ever intended to be your sole source of financial support in retirement. Start now, pay yourself first. Put aside at least one hour's pay per week. You know you spend more than that at Starbucks.

I saw a financial guru on tv recently telling a young woman in her 20's to work the first hour each day for herself. In other words put aside 1 hour's pay per day. As she was a salaried employee, he estimated her hourly pay at something like $20 or $25. He pointed out that if she saved that money at a standard rate of return, at 65, she would have a quarter of a million dollars put aside for her retirement!

P.S. The OP's story scared me and I have an income not dependent upon the airline for which I work.

Me too. Since I work full-time elsewhere, I put 100% of my US Air check into savings, minus medical, dental and 401K.

 

[4merresrat]

If the above post doesn't scare the hell out of many of you something is wrong. If your able to go back to school DO IT! ! ! ! If you have the ability to get a job by chance somewhere else TAKE IT! ! ! ! Many people out there look no further than their next check. YOU CAN'T AFFORD TO RETIRE HERE! ! ! ! The very people junior people talk about will be in the EXACT same boat. Save up on that 401K folks...LOL Your gonna need it.

Agreed. It is scary. And sad. The bitterness and anger. Your life is what you make it. You can sit around and complain or go out and change it.

 

[Ralph]

One last time, the topic is not the current administration, your political beliefs, or the state of the Social Security Trust Fund. If we have exhausted the topic, the thread will be closed. Posts have been deleted. Time off has been given. Additional time off is available for the asking.

 

[ggiby]

Just want to say Thank you to all the people at the Top, that make it possible for me to still hold a part time job, that allows me to work 3 1/2 hours a day, and make my $70 gross pay per day. I know that I only have 32 years seniority, and I don't deserve Full Time, with that many years. That equals 18K gross pay before taxes per year for driving to work 235 times per year. While on UI after 9-11, I brought home $80 a day for staying home and not working. Just wondered if I qualify for Food Stamps, any Public assistance, Help paying my winter heat bills, ETC. ???? Never went that route before. If I retire, and start collecting that Government pension I get a whole $550 a month. Thanks again for that. A good friend of mine just retired with the Sheriffs Dept. after only 20 years, and he is getting a 42,000 per year pension, thanks to the generous tax payers. Should of been a COP. LOL

I make less per hour than I did almost at the start of my job in 1985 ( I started in 1982)

 

[ggiby]

I make less per hour than I did almost at the start of my job in 1985 ( I started in 1982)

I am happy to have a job as well and have loved my job since 1982....