United and Continental Q3 Profits.

[Ex737Driver]

IF we make an annual profit, it works out to be roughly 4-5% of gross for 2010. At least it's something, but compared to the previous program it's a joke.

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

 

[densoo]

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

Wha? Just to clarify, do you mean our gross is going to increase $8K to $10K? That would be great. How does it work?

 

[Beaver_Liquors]

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

I thought that was for individual plans over 10K and 15k for families, which i dont think our crap plan qualifies, and i dont think it starts until next year but i could be wrong too. They are required to print it on our w2 this year, but wont be taxed till next year

 

[COpilot]

We DO have profit sharing as agreed to in the transition agreement! It's not the same program as we previously had, but we do have profit sharing!

Woo hoooo! Same percent as before?

 

[Ex737Driver]

Wha? Just to clarify, do you mean our gross is going to increase $8K to $10K? That would be great. How does it work?

Your gross will increase for taxation purposes only. The money hasalready been paid to you in health care benefits.

You would think if they are going to show this on your W2 that you would be able to deduct it next year as well. I think the amounts to be taxed though, are still subject to change. I hope the numbers listed are correct because I just looked at mine and it says CAL paid me almost $11K last year in health benefits.

All that aside, if this amount is listed on your W2 by CAL, will it be included in your final compensation when determining your profit sharing for 2010? $500 more is $500 more.

 

[COpilot]

where have you been?

Good question, I think I was in denial (pi$$ed) after C02 profit sharing expired.

 

[densoo]

Your gross will increase for taxation purposes only. The money hasalready been paid to you in health care benefits.

You would think if they are going to show this on your W2 that you would be able to deduct it next year as well. I think the amounts to be taxed though, are still subject to change. I hope the numbers listed are correct because I just looked at mine and it says CAL paid me almost $11K last year in health benefits.

All that aside, if this amount is listed on your W2 by CAL, will it be included in your final compensation when determining your profit sharing for 2010? $500 more is $500 more.

So I assume that if one doesn't get their medical through CAL then this is a moot point for them?

 

[ualdriver]

Wow, we made a net profit commensurate with what other businesses make in other industries. The combined profit also doesn't reflect that there should be a few hundred million in synergies to be gained in the future once the airlines are fully merged. Also, UAL and CAL have some wage costs that they're going to have to pony up for just about every employee group on the property- especially the pilots who have sacrificed the most. That may cost them a few 100 million annually in itself.

Now the question for the future becomes, will the airline industry put "rational" amounts of capacity back into the market in the future so that we can continue to enjoy levels of profitability that other industries normally enjoy? Or are these "big" profits just going to attract more irrational growth by the usual suspects along with airlines that are at PowerPoint presentation level right now? Again, we'll see.....never mind a terrorist attack, hull loss, $100+ oil or God knows what else....

 

[Ex737Driver]

So I assume that if one doesn't get their medical through CAL then this is a moot point for them?

GO to ALL ABOUT ME and at the top of the page, there is a tab for your compensation. 2009 is there and it should tell you what CAL "paid" you and how much it's worth.

 

[sweptback]

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

That's completely incorrect. Starting in 2011, the value of company paid medical insurance is listed on your W2, but not for purposes of taxation.

And by the way, taxing company paid health care was McCain's campaign idea, not Obama's.

 

[Ex737Driver]

That's completely incorrect. Starting in 2011, the value of company paid medical insurance is listed on your W2, but not for purposes of taxation.

And by the way, taxing company paid health care was McCain's campaign idea, not Obama's.

And since it's listed on your W2, you actually think it won't be taxed? Think again. Doesn't matter whose idea it was, Obama implemented it.

 

[sweptback]

And since it's listed on your W2, you actually think it won't be taxed? Think again. Doesn't matter whose idea it was, Obama implemented it.

http://www.factcheck.org/2010/05/health-care-law-and-w-2-forms/

 

[Hutchman]

The C02 profit sharing sunset last year, just before things turned around (imagine that).

How much profit sharing did you loose out on last year? Let me help you, ZERO. CAL reported a loss for the year.

 

[AWACoff]

How much proofit sharing did you loose oout oon last year? Let me help yoou, ZEROO. CAL repoorted a looss for the year.

There ya go, you missed a couple of extra "o's".

 

[COpilot]

And since it's listed on your W2, you actually think it won't be taxed? Think again. Doesn't matter whose idea it was, Obama implemented it.

So which is it Ex73, are you correct or is fact check right?