Could not have said it better my self. The net pay we will see over the cycle of this contract is less then CPI. And don't count on getting anything from the SSP as defined in the TA. The company will have to reach activity levels of 2006 & 2007 before we see a cent from SSP.
Please look at this and PLEASE someone show me how I’m looking at this wrong.
Approximate current annual increase 1.3%
Number of years of contract cycle 7
Proposed TA increases Year 1 2 3 4 5 6 7
10% 3% 3% 3% 3% 3% 3%
Total net pay over contract cycle 18.9%
Net pay increase per year 2.7%
Sorry, I tried to paste a segment of a spread sheet but it does not play nice with the message board. None the less the number speak for themselves.