Pit Paper

[MarkMyWords]

Fuzzy math?

Dave was making $600,000 a year and Bruce is making $425,000.

MMWs please explain to me how $425,000 is 43% less then $600,000.

[post="190332"][/post]​

Daves original contract had him making 750,000 when he started with the company. His wages were cut to 600,000 in concessions round 1.

 

[MarkMyWords]

Mark,

What's your pay cut...the 5% or the 7.5%? Gee, wish that was all our group had to take...hell, we offered 8.5 and 10% and got it rubbed in our nose.

Easy for you to say you're amazed by what we post...I guess I would to if my pay cut was only 7.5% and I could get the rest of union labor to carry the rest for me at 10% 20%, or 23%....

I think that THIS CEO needs to take the same salary as the CEO of JetBlue which is $275,000, (court hearing slide)

And if the company profits in two consecutive quarters, his salary "snaps back".

PS: Bruce was called out of retirment to help his best friend the "bonehead", however he is absolutely CLUELESS, and promoted himself on shear deception of saying agreements would be consentual and it would be without threats...AS HE TOLD THE AFA MEC...

[post="190389"][/post]​

My pay and compensation package are not up for discussion.....we are talking about the compensation package for the CEO of the company. But suffice to say, when everything falls into place, my cuts will mean a 23% reduction in my total package.....just as you've had the opportunity to negotiate for your represented working group. My group took less then a 23% cut in salary, but a considerable hit in benefits, vacation/sick time, retirement, etc. You have the same ability to lessen the 23% salary cut by off setting it with various work rule and benefit changes.

Back to the topic at hand......What are the stock options and other perks in the CEO of B6? How do they compare to a company with our current worthless stock? Base your thoughts on the TOTAL package versus just the salary aspect of it.

 

[RumorS]

My group took less then a 23% cut in salary, but a considerable hit in benefits, vacation/sick time, retirement, etc. You have the same ability to lessen the 23% salary cut by off setting it with various work rule and benefit changes.

Please Correct me if I am Wrong BUT WE TRYED THAT. Offered 8 % and a ton of workrule and benefit changes. Added up to 33 million 3 million over what the company wanted and it was REJECTED!!!!!!!!!!!! Seems Like we Don't have the ability!!!!!!!! :angry: :angry: :angry: :angry: :down: :down: :down:

 

[X-U]

Perhaps Lakefield is just following the script for the life-cycle of a 21st century CEO at US Airways: Step in as a "fresh-face" and spout off claims of being labor-friendly. Deflect criticism of previous CEO with comments like "I don't like the position we're in any more than you" or "Now is not the time to point fingers".
Attempt to persuade employees that the only way to save the company is through massive pay and benefit cuts; promise that once the cuts are made, you can implement your grand plan will make US Airways the most efficient airline in the cosmos. As the process continues and the cuts are close to implementation, make several comments that make you a lightning rod, appearing greedy and unconcerned with the welfare of the employees. Once the wages are slashed, step out with your golden parachute, express dismay that you can't continue the work that has been started, but bridges need to be built with labor to restore morale. Then, you are replaced by another "fresh face" who will spout off claims of being labor-friendly...


Prediction: Lakefield will leave within 4 months with a nice severance package.
He will state that he needs more time with his family and this was intended to be a temporary position in the first place. He will be replaced by Schear or Ashby...

 

[cavalier]

My pay and compensation package are not up for discussion.....

[post="190400"][/post]​

No, just up for grabs..

MMW the lonely heart who still believes things can be better if "only", such a hallucinatory man in the grips of the surreal reality U employees find themselves.

 

[crazyincanton]

Whose Ox Gored
One lawyer said the company's chief executive officer, Bruce Lakefield, who makes $425,000 a year, is taking no pay cut at all. Asked about that during a brief interview Thursday, Lakefield said he would gladly give up his annual salary if it would save the airline.

But, "It's a pimple," he said.


$425,000 is not a pimple. If it is, I'll take that zit! 23% more out of my pay? No way.

 

[PITbull]

My pay and compensation package are not up for discussion.....we are talking about the compensation package for the CEO of the company. But suffice to say, when everything falls into place, my cuts will mean a 23% reduction in my total package.....just as you've had the opportunity to negotiate for your represented working group. My group took less then a 23% cut in salary, but a considerable hit in benefits, vacation/sick time, retirement, etc. You have the same ability to lessen the 23% salary cut by off setting it with various work rule and benefit changes.

Back to the topic at hand......What are the stock options and other perks in the CEO of B6? How do they compare to a company with our current worthless stock? Base your thoughts on the TOTAL package versus just the salary aspect of it.

[post="190400"][/post]​

MMW,

Oh no you don't...there is no "getting back to the subject at hand" until I get this clear with you and your TOTAL decrease in compansation.

IF YOU ARE TALKING TO ME ABOUT YOUR OVERALL REDUCTION IN PACKAGE REACHING THE 23% MARK.....LET ME TELL YOU JUST FOR MY GROUP, THE TOTAL REDUCTION PACKAGE IS VERY SIMPLE CALCULATION IN PENSION, WAGES, AND BENEFITS...

Divide OUR cost target under managment's NEW growth model of $147 million PER YEAR, among 5,400 flight attendants today...

ANSWER: $27,000 per flight attendant. Translation a range between 60-80% PAY CUT. And that's not counting from 2002, like your comparison of Dave's Siegels orginal salary and Lakefields salary of 43% less.

The guy was in retirment for geezus sake. He actually got a $425,000 salary increase in his total income, FOR DOING ABSOLUTELY NOTHING BUT A FIGURE HEAD.

If you say otherwise, then you are just trying to blow some smoke up everyone.

Once again, my original post stands...you are skating much better than the labor side of the equation....AND WE TRIED TO NEGOTIATE YOUR PAY DECREASE AND THE COMPANY TOLD US TO BASICALLY GO POUND SALT.

As far as Lakefield's stock compared to JEtBlue...first off Neelman is the FOUNDER of JetBlue and invested $40 million (of his own money) into the company. His company makes money, therefore his stock has worth.

Are you saying we need to pay Lakefield comparable total compensation to Neelman in wages??? For a company HE CAN'T POSSIBLY TURN AROUND TO MAKE A NICKEL?