maxblast72
Well-known member
- Joined
- Jun 5, 2006
- Posts
- 931
I think we should have a base pay scale and then profit sharing like Southwest and Continental. Profit sharing ties everyone's overall compensation to the overall health of the company.I was reading the letter from Jeff Miller again and started wondering. When he said that we had very profitable years up until 2007, why did we not share in that profitability? Why were we not able to get a new contract? I know the answers, I just thought it was funny that now they want to tie our future to profitability but when we were profitable, they told us to pound sand.
No concessions. Stand together or fall alone.
Although we were profitable for 8 straight years, only 2003 was a really good year. And we are forecast to lose in 2008 almost as much as we made during the previous 6 years. Here are the numbers from airtran.com investor relations page:
2002 $0.14 eps
2003 $0.74 eps
2004 $0.12 eps
2005 $0.03 eps
2006 $0.14 eps
2007 $0.58 eps
2008 $-1.37 eps (projected)
The good news today is that Raymond James upped their guidance on us and based on $92/barrel oil, project our 4th quarter loss to only be $0.08/share down from $0.31/share.
I agree no concessions, but the majority of our pay raises (after COLA) should be tied to profitability just like Bob's bonuses.