PROFIT SHARING HALLOWEEN STYLE

LOTS OF TRICK…
VERY LITTLE TREAT


Many employees have expressed some surprise at the average non-pilot salary suggested on the previous blog. $50,000 was too high and didn’t account for all the clerks, secretaries and part-time employees that make up a large and essential component of our operation.

A figure of $35,000 is much more realistic and fair. The attempt was to give the Company the benefit of a doubt when factoring our portion of the profit sharing. As you must be aware by now, Ed Bastian has told us that our profit sharing will be roughly 5% of our annual salary, whatever that means. I didn’t catch whether that includes our equity shares and one-time bonus that we got earlier in the year after we exited bankruptcy or just our base salary. These sums were included in our paychecks, whether we sold the stock or not. If we had something in writing, like, oh say, a contract, it might be easier to figure out.

Also as Ed is telling everyone as he travels around the system, there has been $160 million dollars set aside already this year for profit sharing. If the average salary is closer to $35,000 than $50,000 for non-pilot employees then there has only been $55 million set aside for us, the non-pilots group and $105 million for the pilots (and somebody else).
The year is 3/4‘s over so try on the mathematical equation again.

Formula: (.75 x $35,000=$26,250 x 5%=$1,312 x 42,000 non-pilots =$55 million)

As we have told you, the pilots who have a contract, have an agreement to receive 15% of all pre-tax income earned by Delta this year. The company has made approximately $700 million in pre-tax income so far this year. 15% of $700 million is $105 million.

Don’t you just love it when a math equation balances!

I don’t mean to ‘beat a dead horse’, as the expression goes but don’t you just hate it when our Company assumes that we’re too simple to check their math. They are so use to us going along with their assurances and figures they don’t even bother to give any of us any credit for having a brain and using it.

Do you really think that the pilots are settling for 5% of their annual gross pay in profit sharing? There are 6,600 pilots, the figures don’t add up to 5% for them and Delta knows it. They were hoping you weren’t paying attention and they could slip this one by you.

Don’t stand by for this kind of treatment. This management team is largely new and probably won’t be around as long as you think, certainly not as long as you and I have been or will be. They have iron-clad contracts. You have empty promises and glossy brochures to get you through the long winter. Why on earth would anyone continue to believe them? With a contract, listening to their slick rhetoric would be much more palatable. Let’s sign those A-cards and begin to receive financial security today!