SOUTHWEST swings to third quarter

[JS]

Just when I think that I can not possibly be any more astounded at how well WN employees are treated by their management, I get more astounded. My company, AMR, would not hesitate to use that paper loss as an excuse to cancel profit sharing--by the way, could someone at WN explain to me what that word, profit, means? And, once you've done that explain the concept of sharing to me--particularly when it is coupled with that word, profit. That is not a phrase with which I am familiar.

Do you get a kick out of bashing your employer? You shouldn't bite the hand that feeds you.

 

[ramper_in_las]

Do you get a kick out of bashing your employer? You shouldn't bite the hand that feeds you.

I am sorry to tell you he has every right to be upset at his company. AA execs continue to get their yearly bonuses while the blue collar guy is asked to take a pay cut. I would be upset too!!!

 

[Borescope]

Interestingly, because it WAS a "paper loss", Gary has already said we'd be receiving profit sharing on the $69 million operating profit number.

This is an example of keeping a contract with your Employees. Personally, I'm amazed, and gratified.

It has nothing to do with your contract. If the company loses money for the YEAR, you won't get profit sharing. WN has made enough money in the first 2 quarters to offset any losses that is may incur in the second half. No one wants to see employees lose jobs, which is what we have seen with all the loses at the "other" airlines in the past few years. But, you can bet that most "other" airline employees had a sly smile on their face when WN reported the loss.

 

[swflyer]

It has nothing to do with your contract. If the company loses money for the YEAR, you won't get profit sharing. WN has made enough money in the first 2 quarters to offset any losses that is may incur in the second half. No one wants to see employees lose jobs, which is what we have seen with all the loses at the "other" airlines in the past few years. But, you can bet that most "other" airline employees had a sly smile on their face when WN reported the loss.

Too literal, Borescope.

I was referring to Southwest taking care of it's People, and living up to it's published Mission Statement, even in this quarter.

 

[Borescope]

Too literal, Borescope.

I was referring to Southwest taking care of it's People, and living up to it's published Mission Statement, even in this quarter.

Which is exactly what I said. You are receiving profit sharing for the first two quarters and hopefully WN will make profit in the fourth quarter to add to your check. WN isn't going to pay you profit sharing for money it lost in the third quarter. Hence the word "Profit" sharing.

I know a few of the other airlines that have profit sharing for their employees, they will "take care of their people" when they report profits also. It's nice to feel special, but others are in the same boat.

 

[diverboy]

"We did make a profit of $69 million running the airline this quarter, after taxes
and including cash hedging gains for fuel consumed this quarter. So, there will
be ProfitSharing this quarter!," according to the company...

 

[jimntx]

WN isn't going to pay you profit sharing for money it lost in the third quarter.

Bore, you can say it like a mantra all day long, but it doesn't make it so. It was simply an accounting thing. They made a profit from their operations. The loss is due to an "on paper" writedown of asset values--namely the fuel hedges.

If you are going to insist on this being called a loss, then next time UA (that is who you fly for, isn't it) reports another loss in its seemingly endless string of losses, you can't be going around posting that "well, if you take away this special item, and discount that special item, we really made a profit." Can't have it both ways.

I just got a form letter from my CEO at AMR announcing that we made a $45 million profit last quarter. He then goes on to say that the sale of American Beacon netted $430 million. So, without that cash coming in, we would have lost a bunch. But, that's a one off thing. We won't have American Beacon to sell this quarter. So, I'm not really counting this last quarter as a "profit" either.

WN didn't have ANY cash going out the door in their "loss" just an asset writedown.

 

[Borescope]

WN didn't have ANY cash going out the door in their "loss" just an asset writedown.

Jim,
Got it and as I have stated before on other threads, I don't now, nor have I ever worked for UAL.

 

[swflyer]

Jim,
Got it and as I have stated before on other threads, I don't now, nor have I ever worked for UAL.

Apology accepted <_<