Profit share !!

[tamalai]

Can you believe it ??? 5.87 Billion Dollars profit and what do they Pay??

1 lousy week:{ :{ :{

[spannersatcx]

Who?

I understand CX are making an announcement sometime next week!

[shortly]

Good stir Tam, results announced 9th March. Hard to get anyone to talk early, I haven't been able to at least. The Chinese mafia are whispering 19 days and $6000. This would ensure most A and B scale locals would get a full month.

[Plastique]

I heard 3 weeks + $8k

[cadence]

All that money and you guys want to ditch the 49ers....

Goes to show the company could afford a proper settlement but they´re just too bloody minded.

[Old China Driver]

Best to bear in mind the obvious. CX have neither the desire nor the intent to reward their employees beyond the bare minimum. Back in the late 80's, we regularly recieved between 2 and 3 MONTHS! Since then, management have decided to reward themselves, and the employees take a rather distant second place. The profit sharing scheme has been undermined by petty jealousies, and the management in charge of it have assured that REGARDLESS of the ACTUAL profit, you will share in very little of it. Recall just two years ago, when they paid us 3 weeks in August, and another 3 the following March. Do they mean to tell us that with this latest record profit, we shouldn't be recieving something at least close to that amount? The sad thing is this: the mere existance of the profit sharing scheme is a distraction that allows management to avoid the real issues of payscales and pension provisions. We would all be better off if they cancelled the schems altogether. A small drip of opium every year or so is dulling the senses, as meanwhile the years of your career ebb away. OCD

[Omark44]

An old hand once told me that a typical management ploy was, "Show them a halfpenny, then give them sixpence, they all run off quite happy!"
In the CX case this would indicate that 6-8K plus 15 to 21 days is the halfpenny, deliberately leaked and the actual will be a bit, (but not a whole lot), more? Does that sound familiar?

[cpdude]

Hey cadence,

You want more for them after 3.5 years of financial support and a free legal bill for being fired poorly from a job? This job only gives 3 months notice of release of employment. Isn't that enough compensation? You and the other skateboarders have to wake up!

As a matter of fact, I think they owe us some money back!:*

[6feetunder]

Another brilliant post from cpdud. Many of the 49ers have lost homes, careers and families.

With what would you like them to pay YOU with?

[cpdude]

6 foot wonder,

Lets not exaggerate here. Some have lost homes/families but do you really think they are alone in losing a job? Mills, plants, factories and stores get shut down every day and people are forced to find other employment. Do others in society get compensation for 3.5 years or life as some would like to see it? Grow up, life has no guarantees. get over it and move on. Harsh words but it's a harsh world too!

As for paying back? It was a loan wasn't it? Do you have to pay back your loans?

[BusyB]

cpdude,

your consideration, understanding and thoughtfulness are only exceeded by your personal charm and charisma.

[Cpt. Underpants]

Makes you wonder about our recruitment department, doesn't it? I can't wait to fly with this "skater boy" - if he had the cajones to identify himself, that is. Major LMF here, I think.

[cpdude]

BusyB

Thankyou!;)

[tamalai]

I hate to say this chaps but this was started as a bit of a wind up !!! 'cos it's been a bit quiet of late, the idea was never for people to GET WOUND UP and start slagging each other off !!!

Also the thread was "Profit Share" and not "Threat Share":ouch:



;) have a nice day !!!

[shortly]

I know it's a hard cross to bear but some of us have to do it.

[cpdude]

here it comes...4 weeks and 5-10,000HKD.:D

[404 Titan]

Cathay Pacific announces 2004 Annual Results

Results 2004 2003 Change
Turnover HK$ million 39,065 29,578 +32.1%
Attributable profit HK$ million 4,417 1,303 +239.0%
Earnings per share HK cents 131.4 39.0 +236.9%
Dividend per share HK cents 65.0 48.0 +35.4%


Cathay Pacific Airways today reported its second best full-year results on record with an attributable profit of HK$4,417 million in 2004, compared to HK$1,303 million in 2003. Turnover increased by 32.1% from last year to a record HK$39,065 million.

Cathay Pacific carried a record 13,664,000 passengers and 972,416 tonnes of cargo as the airline increased both flights and capacity, further strengthening Hong Kong as a global aviation hub. The airline extended its Chinese Mainland network with the introduction of a daily service to Beijing and in early 2005 the launch of new passenger service to Xiamen and freighter service to Shanghai.

Improved world and Hong Kong economies were the main drivers for growth. 2004 would have been the airline’s best year on record had there not been a sharp rise in the price of fuel. Fuel accounted for 23.9% of the airline’s total operating cost, up from 19.8% in 2003.

Demand from both business and leisure travellers remained strong throughout the year. Passenger capacity increased by 24.9% over 2003. This increase, combined with higher load factors and yields, which rose 5.8% to HK45.8 cents for every passenger kilometre, contributed to a passenger revenue record of HK$26,407 million.

The airline set a new cargo revenue record of HK$10,549 million, which resulted from the continued growth in demand from Europe, Japan and the United States for goods manufactured in Mainland China. Cargo yield decreased slightly by 1.1% to HK1.76 cents. Access to the Mainland cargo market was further strengthened with the launch in January 2005 of a daily freighter service to Shanghai.

Cathay Pacific’s acquisition of a 10% stake in Air China at its initial public offering established a strategic partnership with the Mainland flag carrier and a platform for co-operation on a number of commercial and operational fronts, including strengthening network connections between Hong Kong and Beijing.

Cathay Pacific Chairman David Turnbull said: "Persistently high fuel prices along with greater regional and long haul competition will place further pressure on us to improve productivity and reduce unit costs. The aviation business often sees sharp ups and downs, yet we remain focused on maintaining profitable growth and are optimistic over our future. We are expanding our network and fleet and will continue to deliver superior service and value to our customers."

[7FF]

15/30 and HK$6,000 when we made in excess of 4,400 million.
Better than nothing I suppose.
:{

[cpdude]

2002 we made 3,900mil HK and paid out 20 days plus $6000HK...go figure!:confused:

[404 Titan]

Silberfuchs

HK$0.65 per share. Last year it was HK$0.48 per share.

[Snake Hips]

Dear Colleague

As you know, the fixed formula for the calculation of employee profit share has determined a basic award of 15 days of basic salary. However, in light of one of the best results in the airline's history, the board have decided to approve an additoinal ex gratia payment of 1.5 months. Go enjoy...

DMT

Ooops just woke up.....

[tamalai]

If he plays being young and unworldly
for shekels of silver and gold
take the money, my son, praising Allah !!!
the kid was ordained to be sold !!!


and sold we have been ...............................:{

[Plastique]

Pretty miserable profit share.
I suppose they are punishing our 'ungrateful' attitude.

:ugh:

[Snake Hips]

This particular manager is getting 15 days and $6k...