Frank, I'm merely pointing out that compounded earnings are meaningless to me right now regarding Bob's earlier thread about Line Premium of $2 built into the structural increases. I knew we don't lose the pension, but we wouldn't gain the additional earnings that Bob pointed out if it does go to the PBGC either. That's why I prefer the Line premium as a stand alone wage. Right now.....who cares about the pension when I'm only 46 and 9 years away from even being eligible to collect, at a reduced rate.
Here's the difference..... using 2008 as an example
union's previous proposal....... $2.55 Line pay x 2080 hours = $5304
$27.20 x 3% = .82 = 28.02 x 2080 = 58281.60
Total Line + Base = $63,585.60
union's current proposal ..... .55 Line pay x 2080 =$1144
$27.20 x 6% = $1.63 = 28.83 x 2080 =59966.40
Total Line + Base = $61,110.40
A difference of $2,475.20 per year.
The 6% structural increase is subject to agreement with the company which they rejected. The $2.55 Line premium was agreed to by the company in previous company proposals. We had that....not any longer thanks to the union.
The $2.55 line premium was the companys proposal, meant to cause division, after the TA was rejected the full committee, where the majority had already voted to accept the TA, threw in a lot of stuff to, in my opinion, ensure that the guys who were assigned to the sub-committee (the guys who voted NO) could not get an agreement. (I voted against forming the sub-committee and was nominated and put on the committee by the same people who voted YES to the TA). I'm convinced that some of these guys would even vote to accept less than what we turned down just so they can say they were right. The base guys pushed for a $2 base premium as a way of saying that the $2.55 line premium will not fly in Tulsa. The impression I got is the objection stems from the majority in Tulsa who dont feel the guys who work the gates in Tulsa should make that much more than guys that work the hangars, and they have the votes to get what they want, whether we like it or not. So we figured go back to 2001 book on the line premiums and push for chart rate increases a cost of living based premium which has a better chance of selling in the bases. While this lowers the post TA table position its still more than our pre TA table position (which creates a barrier with the NMB) and the total is higher than the rejected TA.