EMB145FO said:
Neal,
Yes, I did attend a Road Show.
I don't have much time to counter your post line by line (although I would like to rationally debate the issues) because it is 0130 and I haven't slept in over a week, but I will say that I appreciate your very professional and well-thought-out post and your ability to think clearly through the issues, despite the fact I disagree on some points you made. Nonetheless, I am glad you attended a presentation and you obviously took a lot away from it, whichever way that you decide to vote and that is all we asked at the very beginning of the presentation. Bravo to you.
We never said profit sharing would be 8% going forward. As a matter of fact, we even used 7% for our W-2 examples and disclosed the fact that in 2006 and beyond, due to the CPA performance incentives going away, P.S. would be more like 5% to 6%.
If you'd like to give me a call, you probably can find my number or definitely email me. There are some other counter-points so I will leave you with these few parting thoughts...
Our pilots:
1. Love our killer vacation system.
2. Love our prohibition on training-on-days-off.
3. Hate the notion or thought of PBS (let alone the archaic SBS)
4. Love our current 401k plan (let alone our much improved new plan)
5. Love our trip trading system generally (much improved with the new 60-hour floor coming soon)
6.
Will love the penalty for the rolling of a reserve pilot's day off (150% add pay and day-off restored)
7.
Will love our new reserve system generally.
8.
Will love our new FBO system.
9.
Will love our Scope/Holding Company language.
There are other areas that we can compare such as Comair's sick leave accrual to ours, etc, but I'll leave that for another time as we are preparing a comparison document for XJT pilot review.
Clearly Comair has some great contractual provisions (including their rates obviously) and they fought very hard for those provisions but as we said in the presentation, to focus in one area would be myopic in nature and we must look at their rates in the context of their whole agreement just as we must look at our rates in the context of our whole agreement. Please also remember the time period and industry environment when Comair negotiated their contract, coupled by the fact that they more or less achieved ACA+1% and ARW soon after achieved Comair+1%.
Is there a possibility that things could get better and we could get a release, etc, thus providing us with significantly more leverage? Of course. Is there a possibility that things could get worse as well? Of course. Those possibilities are what a pilot must think about when weighing the risks and rewards a "yes" vote versus a "no" vote.
Drop me a line sometime.
-Neal