Gracious Exit for Grinstein

[Noserider76]

General.
Is there any pay out for new hires. I have heard some very conflicting answers on this.

The claim and note payouts are to recover a little of what we lost in the concessionary deal and will only be paid to those on property at the signing, including those on furlough.

 

[Shrek]

Not for former GoJet pilots..........

NEVER FORGET

 

[Tomct]

Yeah...he may have done all these things, but can anyone name another CEO that just gave away money to their people (within the airlines majors) lately? Granted things have not been perfect, but atleast he gave something...what did Mullen give? NOTHING! He just TOOK! I think that it was a class move!
:beer:

 

[General Lee]

General.
Is there any pay out for new hires. I have heard some very conflicting answers on this.

I doubt it, since the different factors in determining the actual sum each person gets is based on a few things, including years of service. The claims have already been sold too from what I have heard. But, you will get that 9% match each month for your Direct Contribution fund, and a 2% match for your 401K. Congrats on being a DL newhire.

Bye Bye--General Lee

 

[General Lee]

ACL65PILOT wrote:

I have to say that I am not surprised. He is one of the few men in the top leadership of any airline that delivers what he promises. He has kept good to his word. Bravo

Have you lost your sanity? Considering that worthless piece of crap was a major player in getting Delta to bankruptcy, it was the least he could do.

Not really. He did hire Leo Mullin, which contributed, but in reality he had his head in the sand like all of the other board members. I doubt he gave Michelle Burns or Leo any advice while things were going down hill. He probably figured this out, and that is why he is giving his $10 million away, which is a large sum for anyone, except Bill Gates or a Saudi Shiek.


Bye Bye--General Lee

 

[Desert1]

Yeah...he may have done all these things, but can anyone name another CEO that just gave away money to their people (within the airlines majors) lately? Granted things have not been perfect, but atleast he gave something...what did Mullen give? NOTHING! He just TOOK! I think that it was a class move!
:beer:

I agree.

He did the right thing...let's give credit where credit is due. There was nothing to stop him from doing like the other 'holes and sailing off into the sunset with the employees hard earned money.

Previous action aside, if we fail to recognize this act as an example for other CEOs to follow, we will send the message that no act on their part will ever make any difference. Doomed if they do; doomed if they don't...the absence of incentive or motivation to do otherwise will ensure they never correct their corrupt ways...

It's a step in the right direction that must be acknowledged by the rank and file if we are to heal as an industry.

JMHO

D1

 

[flyboyike]

It's amazing to see a display of decency, genuine or not.

 

[Green]

In reference to not seeing millions. I have figured that with my 30 year career here at DAL, with the 9% B-fund (it will be 15% in the next CBA), their 2% in my 401K and my 12% max match, I should retire with about 10 million in the bank. Of course this is based on historical trends. Fact is that I will do well. It may not be in the traditional pension, but it is still a lot better than a LLC (SWA aside). DAL will be a great place to work after exit and people will be taping their selves to the main gate to get noticed. All and all I am glad with my decision.

What were your assumptions when reaching the 10million number? Just curious because it sounds a bit high to me. One BIG gottcha with those 401k calculators is that most assume a yearly 3% raise and of course your contribution is a percentage of your salary. Doesn't sound like much but if Airline pilots had been getting a 3% yearly raise of the last 35 years we'd probably be making over a million per year now. Not very realistic in my opinion......Good luck...

You are also assuming zero paycuts and no further Ch11's....Hopefully you're right.