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Raytheon declares war on pilots?
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Voice Of Reason
Reading Is Fundamental !
- Joined
- Sep 21, 2004
- Posts
- 1,369
For the LAST TIME
The "protection" I am referring to is protection from any random dufus in the WORLD doing a google search on his name. That will NOT show up for password protected boards.
I am not bouncing this back and forth. You were wrong and owe that guy an apology for being so assuming.
luvu said:
The "protection" I am referring to is protection from any random dufus in the WORLD doing a google search on his name. That will NOT show up for password protected boards.
I am not bouncing this back and forth. You were wrong and owe that guy an apology for being so assuming.
Reported by Reuters- an excerpt
"Raytheon quarter profit rises on defense, jet sales...........That was partly offset by a charge of 4 cents per share for writing down the value of its investment in Flight Options, a fractional jet ownership company."
This represents a $22 million pre-tax write down attributed to Flight Options for just the one quarter.
Notice Raytheon puts this in the third paragraph at the very beginning of their 4th quarter and year end press release.
They never, EVER, focused the spotlight on their Flight Options losses like this before. It was always buried in the body of the report. And sure enough, all the news wires carried it in the body of their redacted news releases just like Raytheon wanted them to. The Public Relations war of "WOE is ME" contract negotiations has begun.
"Those bad, bad pilots asking poor us for industry competitive wages. Its not our fault we aren't making money in this division. Why look at our fine and publicly lauded CEO Scheeringa. If it was possible to squeeze any money out of this business, he would be doing it."
For those of you keeping track. This month represents the TWO year anniversary of Scheeringa at the helm in either the Chief Operating Officer or Acting CEO position or both.
Pay attention to this, REAL CLOSE ATTENTION. The timing of this HIGHLIGHTED and ATTENTION grabbing write down in value, immediately after pursuing and obtaining 100% ownership, immediately after returning RAS maintenance personnel and bases to Flight Options, immediately after promoting Scheeringa to full CEO, immediately after ASAP filing petition for election with the NMB are NOT coincidences.
What you are witnessing, I submit is Raytheon setting the tables for some serious hardball.
If there was ever a time for pilot solidarity, THAT time is NOW!
Vote ASAP
"Raytheon quarter profit rises on defense, jet sales...........That was partly offset by a charge of 4 cents per share for writing down the value of its investment in Flight Options, a fractional jet ownership company."
This represents a $22 million pre-tax write down attributed to Flight Options for just the one quarter.
Notice Raytheon puts this in the third paragraph at the very beginning of their 4th quarter and year end press release.
They never, EVER, focused the spotlight on their Flight Options losses like this before. It was always buried in the body of the report. And sure enough, all the news wires carried it in the body of their redacted news releases just like Raytheon wanted them to. The Public Relations war of "WOE is ME" contract negotiations has begun.
"Those bad, bad pilots asking poor us for industry competitive wages. Its not our fault we aren't making money in this division. Why look at our fine and publicly lauded CEO Scheeringa. If it was possible to squeeze any money out of this business, he would be doing it."
For those of you keeping track. This month represents the TWO year anniversary of Scheeringa at the helm in either the Chief Operating Officer or Acting CEO position or both.
Pay attention to this, REAL CLOSE ATTENTION. The timing of this HIGHLIGHTED and ATTENTION grabbing write down in value, immediately after pursuing and obtaining 100% ownership, immediately after returning RAS maintenance personnel and bases to Flight Options, immediately after promoting Scheeringa to full CEO, immediately after ASAP filing petition for election with the NMB are NOT coincidences.
What you are witnessing, I submit is Raytheon setting the tables for some serious hardball.
If there was ever a time for pilot solidarity, THAT time is NOW!
Vote ASAP
Last edited:
"other" means Flight Options
Raytheon's full release available at Raytheon.com
Segment free cash flow information
.......................Three Months Ended ..........................................Twelve Months Ended
..........................31-Dec-05 ........................................................31-Dec-05
Other..................$10 million..........................................................$52 million
(a) See Attachment F for a description of free cash flow.
Attachment F
Raytheon Company
Non-GAAP Financial Measures
Fourth Quarter 2005
Free cash flow is a "non-GAAP" financial measure under SEC regulations.
The Company defines free cash flow as operating cash flow less capital
spending and internal use software spending. Our definition may differ
from similarly titled measures used by others. The Company uses free
cash flow to facilitate management's internal comparisons to the
Company's historical operating results and to competitors' operating
results and as an element of management incentive compensation. The
Company believes disclosure of free cash flow performance provides
investors greater transparency with respect to information used by
management in its financial and operational decision making. While this
information may be useful in evaluating the Company, it should be
considered supplemental to and not as a substitute for financial
information prepared in accordance with generally accepted accounting
principles.
--------------------------------------------
This means that, while Raytheon is very publicly highlighting an accounting pre- tax loss/write down of $22 million attributable solely to the Flight Options division; the numbers behind the numbers which afford "greater transparency" but are hidden under the "other" moniker show that Flight Options actually reported $10 million in free cash flow for the same quarter and $52 million in free cash flow for the year.
This folks is what pilots flying the line are talking about when they say this division is a cash producing cow for Raytheon. Those line pilots ain't lying no matter what the "Woe is Me" headlines would have you believe.
Vote ASAP and you will be able to negotiate even "greater transparency" when Raytheon tries to play its numbers games on you at the contract negotiating table.
Again, Vote ASAP
Raytheon's full release available at Raytheon.com
Segment free cash flow information
.......................Three Months Ended ..........................................Twelve Months Ended
..........................31-Dec-05 ........................................................31-Dec-05
Other..................$10 million..........................................................$52 million
(a) See Attachment F for a description of free cash flow.
Attachment F
Raytheon Company
Non-GAAP Financial Measures
Fourth Quarter 2005
Free cash flow is a "non-GAAP" financial measure under SEC regulations.
The Company defines free cash flow as operating cash flow less capital
spending and internal use software spending. Our definition may differ
from similarly titled measures used by others. The Company uses free
cash flow to facilitate management's internal comparisons to the
Company's historical operating results and to competitors' operating
results and as an element of management incentive compensation. The
Company believes disclosure of free cash flow performance provides
investors greater transparency with respect to information used by
management in its financial and operational decision making. While this
information may be useful in evaluating the Company, it should be
considered supplemental to and not as a substitute for financial
information prepared in accordance with generally accepted accounting
principles.
--------------------------------------------
This means that, while Raytheon is very publicly highlighting an accounting pre- tax loss/write down of $22 million attributable solely to the Flight Options division; the numbers behind the numbers which afford "greater transparency" but are hidden under the "other" moniker show that Flight Options actually reported $10 million in free cash flow for the same quarter and $52 million in free cash flow for the year.
This folks is what pilots flying the line are talking about when they say this division is a cash producing cow for Raytheon. Those line pilots ain't lying no matter what the "Woe is Me" headlines would have you believe.
Vote ASAP and you will be able to negotiate even "greater transparency" when Raytheon tries to play its numbers games on you at the contract negotiating table.
Again, Vote ASAP
Last edited:
Alae
Member
- Joined
- Mar 23, 2005
- Posts
- 8
An apology to the board
I'd like to take a moment to say I'm sorry for all the fuss over my posting.
I'm VERY appreciative of the concern voiced over the unauthorized "lifting" of material from areas of protected access - it bothers me too, when I see material posted somewhere the author clearly did not intended it to be.
Just to set the record straight; after I posted my letter on one of the fora I belong to, I was approached by an individual who asked my permission to re-post my letter on a different forum. I figured, in for a penny, in for a pound - and I had no objection. If I had thought more about it at the time, I should have posted it here myself; but then, I figured that most everyone who reads this board probably reads one of the others.
In any case, I'm sorry that it caused any unpleasantness.
Thanks for the nice comments.
Best wishes,
Mike McLeod
Who is IBT 1108? I am.
I'd like to take a moment to say I'm sorry for all the fuss over my posting.
I'm VERY appreciative of the concern voiced over the unauthorized "lifting" of material from areas of protected access - it bothers me too, when I see material posted somewhere the author clearly did not intended it to be.
Just to set the record straight; after I posted my letter on one of the fora I belong to, I was approached by an individual who asked my permission to re-post my letter on a different forum. I figured, in for a penny, in for a pound - and I had no objection. If I had thought more about it at the time, I should have posted it here myself; but then, I figured that most everyone who reads this board probably reads one of the others.
In any case, I'm sorry that it caused any unpleasantness.
Thanks for the nice comments.
Best wishes,
Mike McLeod
Who is IBT 1108? I am.
"Fora" the plural of forum- "alae" -the plural of ala f. [a wing]
No apologies necessary from you Mike. I'm just sorry your parents made you study LATIN too.
-------------------------------------------
origin of the word “love.” It is an Indo-Iranian word. According to the Oxford English Dictionary, the English word "love" is derived more immediately from Old English lufu, luvu, or lubu, which derived from luba of Old High German. The luba of Old High German derived from leubh, lubet, and libet of Sanskrit and Old Aryan, meaning “pleasing.”
Alae said:
No apologies necessary from you Mike. I'm just sorry your parents made you study LATIN too.
-------------------------------------------
origin of the word “love.” It is an Indo-Iranian word. According to the Oxford English Dictionary, the English word "love" is derived more immediately from Old English lufu, luvu, or lubu, which derived from luba of Old High German. The luba of Old High German derived from leubh, lubet, and libet of Sanskrit and Old Aryan, meaning “pleasing.”
Last edited:
Alae
Member
- Joined
- Mar 23, 2005
- Posts
- 8
For those who are interested
See this link.
https://www.crewtags.com/create/fin...style=Plain+Yellow&two=Same+Both+Sides&line5=
Regards,
Mike
See this link.
https://www.crewtags.com/create/fin...style=Plain+Yellow&two=Same+Both+Sides&line5=
Regards,
Mike
longrangekiller
Well-known member
- Joined
- Apr 11, 2004
- Posts
- 49
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