With respect 12 Watt Tim: you know not of what you speak.
Do a quick search of the Financial Times and find the article about eJ panicking and backing the wrong horse on fuel hedging last year.
This changing our potential £384m profit to a puney £54m profit.
Doing nothing would have better than this.
Econ 101: Commodity prices fall in a recession.
Fuel Hedging for Airlines 101: thou shalt hedge at the bottom of the market,
not the top.
Management 101: if you don't know what you are doing leave it alone or find someone who does................
d'Oh!! Our managers have snatched defeat (£54m profit) from the jaws of victory (a record £384 profit).
I believe in incentivising everyone, but human nature is for these guys to be feathering their own short-term nests. eJ management are doing this with much handwringing and brow beating of their staff whom they pretend to value.
They have dressed up a lousey million-quid-a-week profit for us working our ar$ses off flying around 160 aircraft as something worthy of a bonus.
Funny how for them this is a success, to be rewarded; but when it comes to dealing with their staff, it is it a defeat, and staff are rewarded by relentlessly deteriorating conditions and ulimatums perennially making us out to be the enemy.
This management bonus-culture is a cancer that has crept up exponentially to become many multiples of average employee compensation. And whaddaya know?! it is vigorously defended and justified by the recipients.
Dracula and his mates are in charge of the blood bank. SLLUUURRRPPP
I am by no means a socialist, but to value your own contribution in obscene multiples of the guy/gal at the workface is to be sinking your pointy teeth into the necks of those in your care. (Very old fashioned concept to care for your employees - ref Southwest and Netjets for good current examples).
Then use lies, damn lies and statistics to justify your greed.
I do my job to the very best of my ability and get my agreed reward each month. I don't get a bonus if I manage to not crash the aircraft.
I don't think what these guys do is rocket science. Is their compensation commeasurate? Off topic, I wonder how much Staff Sergeant Olaf Sean George Schmid was paid when he died defusing a bomb in Afganistan for his country.
They know the
cost of everything and the
value of nothing. One of their greatest skills is hoodwinking us that they are worth the £............
