New profit share versus old and older profit share formulas
FYI
If we had the PS formula from the early 90s profit share this year would have been zero!
If we had used the PS formula that existed five years ago we would have got about 10days and $6,000.
So the new profit share formula is better at these lower profit levels...lower in terms of 'profit on turnover'. The amount paid out in profit share this year would have been about $850million.
Another interesting snippet...whilst our profit share last year was equal to about 2% of our salary, the DFO received a bonus equal to about 82% of his salary. For the period 2004-2007 his remuneration(salary and bonus) has increased by 5%, 16%, 10% versus the pilot group receiving ZERO each year.