Jet Blue = Good Stuff

[B6Busdriver]

This is the way it has been for years.. HOWEVER.. if you do as I asked above and go to the Majors section.. you will find our sticky threads that ask for your input on this matter as we look for ways to improve flight Info.. This matter is one of those questions..

I don't have an arguement for you.. BUt with 37 posts to your credit, you might want to take a lighter approach if you want to make a meaningful suggestion they we will really consider..

The sticky doesn't say jack. It sounds like someone ( moderator ) has his or her panties in a wad. Wow, we are not worthy to be in the majors section. Don't you have something better to do?

 

[av8tor4239]

I am against the ALPA push at JB right now.. I will vote, but my vote will be NO... Thank you!

 

[ArmadilloJackal]

That sounds a little like attacking the person and not the issue. Who cares how many posts I have. Can I still not make a valid point? I simply want to know what constitutes a major in the Flightinfo.com definition book. It seems a little arbitrary to me or whatever the moderators FEEL is a major. Having to switch forums to see current info is a usability problem for those looking to quickly browse new posts for Major airlines. I know I'll miss JB related stuff if it's in a different forum.

 

[B6Busdriver]

I am against the ALPA push at JB right now.. I will vote, but my vote will be NO... Thank you!

Do you care to share why?

 

[av8tor4239]

Do you care to share why?

As long as you do not rip my head off, and respect my opinion...

 

[cowboy55]

Im still trying to figure how proALPA guys say our 10% retirement is below average? I asked a few ALPA Coordinating Committee members and they don't even know what the average carrier gets. But they still tell me we are below average. Not the kind of people I want negotiating on my behalf.

 

[B6Busdriver]

Im still trying to figure how proALPA guys say our 10% retirement is below average? I asked a few ALPA Coordinating Committee members and they don't even know what the average carrier gets. But they still tell me we are below average. Not the kind of people I want negotiating on my behalf.

It's all in the latest OC newsletter that should have come to your house. It's also been covered in the PCRB report. We actually get 5% matching and 5% so called "guaranteed" profit sharing that is subject to board approval.

Here is the rest of the industry:

Air Tran.................Currently 10.5% increasing to 12.5% by 7/1/13
Alaska...................13.5% plus profit sharing
AA........................11% plus profit sharing plus a defined benefit
CO........................12.75% plus profit sharing
Delta.....................14% on 1/1/11 plus profit sharing
Hawaiian................15% plus profit sharing
Southwest..............9.3% plus profit sharing...................look at their pay!
United....................16% plus profit sharing
US Airways..............10% plus profit sharing.


Even if you are against a union I implore you to know your own benefits and how they compare to the rest of the industry.

 

[B6Busdriver]

As long as you do not rip my head off, and respect my opinion...

LOL. I'm tired of the emotion, let's here it! No head ripping, beatings, or tongue lashings.

 

[cowboy55]

I took all of their numbers and subtracted 2% for union dues. And the average came out to 10.673%. I would say we are just about average. Do they get profit sharing even when the company takes a loss? Not convincing enough.

 

[B6Busdriver]

I took all of their numbers and subtracted 2% for union dues. And the average came out to 10.673%. I would say we are just about average. Do they get profit sharing even when the company takes a loss? Not convincing enough.

You aren't even counting AA's B plan which would bring it well above your number. Furthermore the number I come up with is 12.5%. Add any profit sharing and the numbers go WAY up. WN payrates fund any shortfall in their retirement. Your profit sharing is NOT guaranteed. Stick your head in the sand if you like. As for dues it is 1.95% and to simply subtract that off your retirement is foolish. If you don't want a union that's fine but at least look at the facts. Figures lie and liars figure....or is the other way around?
See pages 8 and 9 of the 2008 PCRB report for all the deficiencies. In their findings the industry average is 13% vs 10% at JetBlue. It's even greater when you factor in the loss of interest with annual profit sharing payment.

I'll gladly pay 1.95% for scope, better merger protection, legal representation, health insurance on long term disability.....just to name a few. NO guarantees on what will be in a contract but at least we have an opportunity to negotiate.

 

[Splert]

I took all of their numbers and subtracted 2% for union dues. And the average came out to 10.673%. I would say we are just about average.

This year you would have a 20% contribution.

Do they get profit sharing even when the company takes a loss?

If the BOD declares it then yes.

Just to be clear profit sharing is based upon Operating Profit not Net Profit and JetBlue has had an operating profit since they unilaterally changed the profit sharing plan. PS should have been declared each year and would have been paid in addition to the PSIA 13%. Dave changed the plan because he financed this airline into the ground and he needed employees retirement funds to pay down the debt used to finance the crazy growth he needed to inflate the stock price and his options. D2 sold almost every single one of his options.


1.95% is also tax deductible.

PSIA 13% + Profit Sharing is tax deferred.

Equivalent $
(1.95% * [1 - r])
[(3% + PS) * (1 + r)]

Where 'r' is your tax rate.

At JetBlue we have to fund the gap in our below PSIA retirement with after tax dollars. It adds up FAST!!

 

[pilotyip]

How come

Dave changed the plan because he financed this airline into the ground and he needed employees retirement funds to pay down the debt used to finance the crazy growth he needed to inflate the stock price and his options. D2 sold almost every single one of his options.

So Dave should have created all the JB jobs for free?, how come all the employees did not buy up controlling interest in the stock and take control of the company? How pilots are so disdainful of people who create their jobs? I am not sure anyone has the answer, but just wondering.

 

[cowboy55]

Im so sure Splert knows why Dave makes his decisions. Your a pilot. You have no clue how Dave makes up his mind. All the pro ALPA guys make things up and lie to get your vote. Always saying, "Maurester said this" "Dave said that in my jumpseat". This pure speculation is getting old.

 

[Splert]

So Dave should have created all the JB jobs for free?, how come all the employees did not buy up controlling interest in the stock and take control of the company? How pilots are so disdainful of people who create their jobs? I am not sure anyone has the answer, but just wondering.

David held all his options.

Dave sold nearly all of his.

Our COO and CFO each hold zero shares direcly of B6.

No one should work for free and these guys changed our Profit Sharing plan to help pay down debt. Simple as that.

 

[Splert]

Im so sure Splert knows why Dave makes his decisions. Your a pilot. You have no clue how Dave makes up his mind. All the pro ALPA guys make things up and lie to get your vote. Always saying, "Maurester said this" "Dave said that in my jumpseat". This pure speculation is getting old.

Lie?

Where? Jetblue needed to pay down debt with cash and changing our benefit plans is the flexibility Jetblue loves.

Dave sold nearly all his shares. Our CFO and COO and most of our EVPs hold nearly zero shares directly. That to most observes means the leaders have very little confidence despite what they say.