Reg - I didn't mention capital loss because I didn't mention capital gains either. And yes, the stock purchase can be put into an rrsp right away but that is merely delaying the taxman and carries with it a whole can of worms if the value goes down so I left it out. As for Big Red don't assume I'm with them, I just would rather aim for the old AC payscale that the old WJ one. Pilot's wages were absolutely not the reason for AC's financial trouble, don't forget. I'm a lot happier with the new WJ base for sure, but lets not pretend that 2 years to skipper or 2 year millionaires from the EXP/profit sharing/options exist anymore either.