Time For SkyWest Pilots To Step Up

[Dave Benjamin]

SKYW also has the employee stock purchase program

Equates to about a guaranteed 15% return on investment on 15% of your income if you max it out, right?

So for every grand you make 150 is deferred. For that 150 you're guaranteed 172.50. I was never a math whiz but assuming you max out the contribution and the stock remained flat you'd earn an extra 2.25% of income. It's free money. The last stock buy offered about a 60%+ return for those who hung on to their shares for a few weeks. That's a 24% compensation increase before you get dinged for capital gains.

 

[SKYWRJGUY]

Oh brother. I'm always so enamored of folks like TheBest--perhaps study hall is boring and just showing friends how to type (using typical teen vernacular nonetheless). Never fails to amaze the most ignorant comments come from the people who manage to most conceal anything about their qualifications or identity. But there's one in every crowd...

 

[ArcticFlier]

Proof you are a PU$$Y.....http://yellowpages.superpages.com/profile~PS_15~A_800~X_328~P_7448~STYPE_AP~LID_hxhAyiKv7PXlvbq9WXkQ4A%3D%3D.htm
You were not there A$$HOLE.....THe best and showing the world I am over and over and over and over.............

Spell out the number. 800 328 7448 You know........... use letters. It's something you are vaguely familiar with.

How do you know I don't work for Lakeside Printers? Did you stop by?



Boy is this fun.......................



AF

 

[ArcticFlier]

Dude I got ya, live with it. THE BEST

ROTFLMMFAO..............you ain't got sh1t.

Got your phone out yet? Spell out the number. Or aren't you any good at even simple puzzles?

AF


Can you even spell?

Not an email or even a PM......................I'm so hurt..............

 

[jbDC9]

As the inventor of the term SJS, I am offended that some of you consider it a cliche. It is a real problem, and should be treated as such.

Nooo, SJS isn't a cliche, I'm laughing my ass off over that one... especially the TV skit that Bender came up with. Funny stuff, and sad but true. But the other terms I mentioned, yup, they're still overdone and worn out.

 

[labbats]

Equates to about a guaranteed 15% return on investment on 15% of your income if you max it out, right?

So for every grand you make 150 is deferred. For that 150 you're guaranteed 172.50. I was never a math whiz but assuming you max out the contribution and the stock remained flat you'd earn an extra 2.25% of income. It's free money. The last stock buy offered about a 60%+ return for those who hung on to their shares for a few weeks. That's a 24% compensation increase before you get dinged for capital gains.

Sounds perfect! I'll buy a bunch of stock, and you tell me when to sell. What could go wrong?

 

[viper548]

Sounds perfect! I'll buy a bunch of stock, and you tell me when to sell. What could go wrong?

The stock is sold to employees at a 15% discount. you can turn around and sell it the same day and take the profit. If you do that, it's pretty hard to go wrong.

 

[J32driver]

Who has the cheaper workforce?

Dave,

Your right on about the current cost of each labor group. Its my understanding that ASA is cheaper in some regards, and SkyWest is cheaper in others. Where the disparity will show up is in contract negotiations for ASA. ASA will of course try to get a pay raise in all areas. As a counter offer, SkyWest mangagement will present the current terms the Skywest pilots are operating for and say "you fly for this or we move all the airplanes over to the Skywest Certificate and furlough all of ASA".

This is the same threat Orenstein presented the Mesa pilots, Wexford offered the Chickentaco pilots, and now Hulas is offering the TransStates pilots. It works amazingly well because the only defense is to present ONE unified workforce with an ironclad "alterego" scope clause. Mesa now works for peanuts because they had to buy scope language, so does Chickentaco/Republic/Shuttle. TransStates is headed down that road. ASA and SkyWest are now just starting.

The flipside, after SkyWest locks ASA into 5 years of the current SkyWest rates... do you ever expect to get a raise when the ASA pilot group is locked into cheap rates?

As long as the 2 pilot groups are seperate and can be played against each other, you will never see any significant improvements in pay or quality of life.


THEBEST... thanks for the entertainment. Sorry you couldn't keep up with the educated conversation.

 

[kngarthur]

I have faith in the Skywest pilots. They are in a position to do more damage to pilots as a whole by accepting ASA and Comair aircraft than Mesa or CHQ has done with their contracts. I fully expect them to do whats right and refuse to fly aircraft that are given to them because other airlines labor contracts are higher than theirs.

You people are in fantasy land!!

 

[Dave Benjamin]

Sounds perfect! I'll buy a bunch of stock, and you tell me when to sell. What could go wrong?

So we can assume you're unfamiliar with how a 423 plan works.
The only way you can lose money is if you hang on to the stock and it goes down in value. Otherwise you're guranteed a 15% ROI since that's the minimum discount. Your discount is based on the lowest closing price at the very beginning or end of the 6 month period. If the stock has gone up since the beginning of the period a much higher gain may be realized.

The bottom line is that SKYW pilots that participate in the 423 and have been with the company for more than 2 years make over 8% more than the published payrates. That doesn't take into acccount gains from exercising stock options. Stock options take 4 years to vest and a pilot has to still be employed so you really can't factor that into the equation. Some folks have probably made out pretty well on those.