Profit Sharing Proposal

[18yrsandstillonnights]

So, if for example the company were to post a pre-tax profit of $300 million with our planned revenue levels, a profit-sharing pool of approximately $30 million would be created. The proposed profit-sharing plan is contingent on avoiding a Chapter 11 filing.

And based upon this $30 million dollar figure I'm sure that it would be divided equally among all 24,000 of the employee group right?? That would mean $1,250.00 per person right?? So that Pilots and rampers and others would all receive the SAME amount ?!?!?!? I'm not gonna hold my breath on that one !
Oh yes, I'm sure I can trust CCY on this one....... <_<

 

[PITbull]

So it seems to me that the union response should be something to the effect of:

"We agree to the concessions as negotiated providing we stay out of C11. If C11 is entered at any point all contracts will snap back to the contracts prior to the entry of C11. If for any reason the profit sharing is eliminated all contracts will snap back to the contracts prior to the concessionary contracts." Further, all contracts will snap back to previous contracts in the event any upper level manager is retained after the company shows 2 quarters of successive losses. Further, all contracts will snap back to previous contracts when ANY executive is paid ANY amount higher than ANY executive who is employed by JetBlue. ETC......

Why is it we allow them to set the requirements?

mr

Mreweplanes,

You bet! Great idea.

All wages/vacation/pension will "snap back" once we enter Ch. 11. All deals are OFF. Thanks for the idea!.

 

[PhillyFlyGuy]

Mreweplanes,

You bet! Great idea.

All wages/vacation/pension will "snap back" once we enter Ch. 11. All deals are OFF. Thanks for the idea!.

That is a GREAT idea. Please pass it along ASAP PITbull :cop: Thanks

 

[ringmaruf]

Mreweplanes,

You bet! Great idea.

All wages/vacation/pension will "snap back" once we enter Ch. 11. All deals are OFF. Thanks for the idea!.

That's actually not a bad idea.

I think it would also encourage the ATSB and GECAS and whoever to be more lenient in the event US needs help with a covenant somewhere along the line, because they would know things would just get worse with a Chapter 11.

 

[youngblood]

Mwereplanes,

It wouldn't be a bad idea if only I could believe that the company would agree to something like that. In other words, I'll believe it when I see it. We are talking about a company that is currently in negogiations with most labor groups and not moving on what they want even when presented with cost saving ideas. A company that says we want the concessions we are asking for and we'll add the proposals you bring to us.

Unfortunately, I think all Boner is doing is dangling the carrot to get the concessions, then he has every plan of yanking the carpet from beneath us if we agree. Besides, how many contractual agreements have they already broken? What makes you think that wouldn't be another one?

 

[bobcat]

PROFIT? Yea right? When hell freezes over and if by some remote chance there would be a profit, management would find some way out of distributing it to employees. Also how much of a profit would the company have to make to really make the employees sit up and smile at the share that they would get?

This offer is nowheresville!!!!!!!

 

[E-TRONS]

Scam-Scam-Scaaaaam :down: !!!

 

[MCORORES]

IMO I think it is good step by management. Will it influence my vote if the current company wish list comes to a vote????? Not a snowballs chance in well you now were.

 

[oldiebutgoody]

In as much as management is saying that another chapter 11 is pretty much imminent, isn't this a silly offer? I agree that the ONLY way I would EVEN consider this as any kind of realistic idea would be if, as a poster said earlier, there is some kind of snapback provision, and an 1113 letter to protect that in the event of another chapter 11. There could always be some kind of provision to return the wage scale back to the "new" one once the profit sharing was restored, and the first payment made.

 

[colorado_cowboy]

What about those employees who aren’t going to be around if the company gets the concessions their asking for? What about the 20,000 who already have been kicked to curb like yesterdays garbage while Dave Siegal, Stephan Wolf, and Rakeesh Gangwal made millions?

There’s certain few who come onto this board practically begging for all the labor groups to climb on board the concession wagon. What guarantees do you have that the cuts the company wants aren’t going to put you out onto the streets?

If Dr Bronner finds it necessary to sweeten to pot for the employees to be bent over and loaded like a shot gun again maybe there’s more going on here than meets the eye. Has anyone thought about that or is everyone to worried about losing their job to think that far in advance?

 

[totobird]

Okay so let's say the company makes a 300 million dollar profit and divides 30 million among 24,000 employees and I get $1250 before taxes and about $800 after taxes.
That hardly comes close to the $1,000 per month cut they are asking for or more than $12,000 per year.

$12,000 minus $800 still puts me $11,200 in the hole.

WHAT A DEAL.........SIGN ME UP !!!!!!!!!!!!!!!!

 

[Schatzee]

Just curious? After 39 weeks of unemployment and the only job you can find pays $9.00/hr how far does that leave you "in The hole"?

Only point is each must weigh their personal decision against the worst possible scenario as well as the best before deciding on a path that works for them.

[post="166607"][/post]​

Excuse me but I would just like to say that you can't imagine how many of these employees would jump "in the hole" if it would make the previous and current executives of this company pay for the decisions they have made to put US where it finds itself today.

They are a group of thieves! Stealing money that has been earned by good, honest, hard-working individuals. It is sickening that they are allowed to get away with it.

Thank you for allowing me to vent. :huh:

 

[WorldTraveler]

No one answered the question about what the percentage is based on and I will bet it's calculated on your base salary. Many profit sharing plans are; ask those questions but if that is the case the pilots and management clearly will collect the majority of the profit sharing payouts.

 

[SpinDoc]

Why is it we allow them to set the requirements?

Because, they (managment and investors)
are responsible for running the company
and know what is needed to fix the problem.
Do you believe for a minute that any company
in this country would let the inmates run
the asylum?

 

[hp_fa]

Why is it we allow them to set the requirements?

Because, they (managment and investors)
are responsible for running the company
and know what is needed to fix the problem.
Do you believe for a minute that any company
in this country would let the inmates run
the asylum?

[post="166800"][/post]​

Do you believe that the workers are stupid enough to trust the management and executives again ?