Profit share.
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You're welcome Max.
The profit share announcement of Two weeks salary, or $5000, whichever is less.....It's intentionally worded that way.
It's like saying that billions of dollars lost to fuel hedging is a good thing because it allows the Company to make stable fuel predictions.
Or my personal favorite: your salary is being reduced by 25%, and that "includes" your 13th month "bonus".
The profit share announcement of Two weeks salary, or $5000, whichever is less.....It's intentionally worded that way.
It's like saying that billions of dollars lost to fuel hedging is a good thing because it allows the Company to make stable fuel predictions.
Or my personal favorite: your salary is being reduced by 25%, and that "includes" your 13th month "bonus".
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What the hell is an "A50". Apparently, we are getting 12 of them this year, according to the HAS driver they interviewed on Bloomberg.
Wow, I can't believe this guy is driving the ship. This explains a lot. He spent billions in toulouse and can't even name the product he purchased. He can't even handle a soft-ball interview with a gentle Bloomberg reporter. Who the hell put this guy in charge?
Crap, things are worse than I thought.
Wow, I can't believe this guy is driving the ship. This explains a lot. He spent billions in toulouse and can't even name the product he purchased. He can't even handle a soft-ball interview with a gentle Bloomberg reporter. Who the hell put this guy in charge?
Crap, things are worse than I thought.
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Crap, things are worse than I thought.
Baring unforseen circumstances (WWIII?), we can never, ever recruit enough pilots now and train them to be able to man the current operation, let alone expand at a rate that allows up to hold the competition at bay.
Fk, sometimes I'm glad I'm old.
Ivan the Terrible CEO went to the same media trainer as Philip 'Smiling Assassin' Chen.
Some of the least sincere and most uncomfortable politicians do the same inane grinning just after they deliver an incomprehensible answer to a direct question. Replays and re-runs of these interviews reveal a puppet spouting the 'party line' and not answering anything. It makes the interview appear interminably long and there is no conclusion in sight so the interviewer either repeats the question multi times ( which then resembles a comedy sketch) or gets annoyed and interrupts or, as in this case, winds the whole thing up.
The trouble is, here we have a man in charge of a huge enterprise who is obviously not a Leader in any shape or form who is a 'puppet' ( and a 'muppet' but that's just who he is). If the puppetmeister can put a clown like this in charge when there simply MUST be a more inspirational Chinese Executive available, then they can do what the hell they wish. Pilots are a bloody nuisance and hold back the enterprise with their moaning and continual demands for 'this' and trivial 'that'. Who the hell do they think they are disputing with the all- powerful puppetmeister??
The pyramid gets a bit small above Ivan the Terrible CEO so the person pulling the strings must be either at the VERY top of Swires in HKG or in London - again, at the very top.
Ivan must have some qualification that makes him attractive to a Chinese takeover. God knows what it is because he hides it well and the Chinese are pretty shrewd in business - or so it goes...........
Some of the least sincere and most uncomfortable politicians do the same inane grinning just after they deliver an incomprehensible answer to a direct question. Replays and re-runs of these interviews reveal a puppet spouting the 'party line' and not answering anything. It makes the interview appear interminably long and there is no conclusion in sight so the interviewer either repeats the question multi times ( which then resembles a comedy sketch) or gets annoyed and interrupts or, as in this case, winds the whole thing up.
The trouble is, here we have a man in charge of a huge enterprise who is obviously not a Leader in any shape or form who is a 'puppet' ( and a 'muppet' but that's just who he is). If the puppetmeister can put a clown like this in charge when there simply MUST be a more inspirational Chinese Executive available, then they can do what the hell they wish. Pilots are a bloody nuisance and hold back the enterprise with their moaning and continual demands for 'this' and trivial 'that'. Who the hell do they think they are disputing with the all- powerful puppetmeister??
The pyramid gets a bit small above Ivan the Terrible CEO so the person pulling the strings must be either at the VERY top of Swires in HKG or in London - again, at the very top.
Ivan must have some qualification that makes him attractive to a Chinese takeover. God knows what it is because he hides it well and the Chinese are pretty shrewd in business - or so it goes...........
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Wow, I can't believe this guy is driving the ship.
He's just a muppet installed there to smile and wave to the press.
And he's terrible at it.
Not that the idiots doing the actual driving are any better than him...
Since we've been demoted to $5K morons, guess who the million dollar morons are now?
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Max/Raven,
I understand that, however my point is that $5k is not 3 months pay for anyone, at all, so is an untruth. While we clearly know that these clowns aren't afraid of an untruth or 3, it's unlikely to be good publicity when it's so easily shown to be false. $5k is however two weeks for some staff, so they can genuinely hand on heart say they paid two weeks profit share this year (or $5k, whichever is less.....)
I understand that, however my point is that $5k is not 3 months pay for anyone, at all, so is an untruth. While we clearly know that these clowns aren't afraid of an untruth or 3, it's unlikely to be good publicity when it's so easily shown to be false. $5k is however two weeks for some staff, so they can genuinely hand on heart say they paid two weeks profit share this year (or $5k, whichever is less.....)
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OK, lets get real folks!
Management read these posts so nothing here is secret. They see what we think of their under-hand, self serving methods of profit share calculation. What happens?? nothing!! They don't care. They just take the money and continue collecting what we have earned for them then move on to bottling Coke or selling Volvos or the like. While this system of inept management continues nothing will improve. Personally I won't go out of my way to help profitability. Not because I don't care, I actually do, but purely because management steal any productivity/efficency gains I make and reward themselves solely and not those (me you/us) that actually provided the gains.
Presently, because of this regime, my mission statement after every brief is 'this shall be the most expensive sector possible after safety considerations, any questions?'
Management read these posts so nothing here is secret. They see what we think of their under-hand, self serving methods of profit share calculation. What happens?? nothing!! They don't care. They just take the money and continue collecting what we have earned for them then move on to bottling Coke or selling Volvos or the like. While this system of inept management continues nothing will improve. Personally I won't go out of my way to help profitability. Not because I don't care, I actually do, but purely because management steal any productivity/efficency gains I make and reward themselves solely and not those (me you/us) that actually provided the gains.
Presently, because of this regime, my mission statement after every brief is 'this shall be the most expensive sector possible after safety considerations, any questions?'
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#4345
"I am writing here to let the world know again how cheap cx is.
under company policy, we could have meal voucher if there's a 45 min delay or more. But every time there's delay, we always got informed it's gonna be FOUTY minutes which means no voucher! Fine if we are ready to go after 40 minutes. However every time we still have to wait after we have departed from the office. all cx doing is to save a hkd25 refreshment voucher for each crew!
Another situation is after we have left cx city, we just got informed 50min delay just before we stepped on the aircraft. It was just a 5 minutes bus ride. Don't they know before we left cx city. Again all cx doing is to save a hkd25 refreshment voucher for each crew!
there's something in this world called RETRIBUTION!"
"I am writing here to let the world know again how cheap cx is.
under company policy, we could have meal voucher if there's a 45 min delay or more. But every time there's delay, we always got informed it's gonna be FOUTY minutes which means no voucher! Fine if we are ready to go after 40 minutes. However every time we still have to wait after we have departed from the office. all cx doing is to save a hkd25 refreshment voucher for each crew!
Another situation is after we have left cx city, we just got informed 50min delay just before we stepped on the aircraft. It was just a 5 minutes bus ride. Don't they know before we left cx city. Again all cx doing is to save a hkd25 refreshment voucher for each crew!
there's something in this world called RETRIBUTION!"
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How is it that a lack of generous profit share generates several pages of posts, yet a blatant new intimidation policy is put into effect without barely a whimper from the pilot body.
It's no wonder they treat us the way they do! They know the majority are completely enslaved to this job. Sad but true!
It's no wonder they treat us the way they do! They know the majority are completely enslaved to this job. Sad but true!
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He will give you 3-20 days off,
Rinse and repeat. If you hit stage 1, rinse and repeat
Call in sick 1 day at a time......See the doctor, follow the ANO, and voila, nothing happens, because you followed the rules. Simple.
The point here is they've done whatever they want, and they'll keep doing whatever they want until we PARK airplanes. Simple!
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It is better to enter then exit stage 1 than to avoid stage 1, as without entering stage 1 your history does not disappear.
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More than 100,000 American Airlines employees will begin sharing in the company's profits in 2017, executives announced in a letter to employees Wednesday.
Employees below certain management-level positions will receive a cut of 5 percent of pre-tax profits starting with the airline's 2016 annual earnings, according to the letter.
American Airlines earned a record profit of $7.6 billion in 2015, the company announced earlier this year.
Earlier this year, Southwest Airlines announced more than 47,400 workers would receive a record $620 million in profit-sharing, or an average of $13,080 per worker, in contributions to employee retirement accounts for the company's 2015 performance. Chicago-based United said its workers earned a record $698 million in profit-sharing for 2015.
Cathay employees shared 1.7 percent of the profit...
Employees below certain management-level positions will receive a cut of 5 percent of pre-tax profits starting with the airline's 2016 annual earnings, according to the letter.
American Airlines earned a record profit of $7.6 billion in 2015, the company announced earlier this year.
Earlier this year, Southwest Airlines announced more than 47,400 workers would receive a record $620 million in profit-sharing, or an average of $13,080 per worker, in contributions to employee retirement accounts for the company's 2015 performance. Chicago-based United said its workers earned a record $698 million in profit-sharing for 2015.
Cathay employees shared 1.7 percent of the profit...
Last edited by Oval3Holer; 25th Mar 2016 at 03:35. Reason: To add the Cathay profit sharing percentage
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History will look back on the 1990s and early 2000s as a time when the principal officers of public American corporations transferred from shareholders to themselves approximately $1 trillion - or 10 percent of the market value of public exchanges. This must be the largest peacetime movement of wealth ever recorded, and it was accomplished through stealth that amounted to theft and in a spirit of regulatory permissiveness that certainly rises near to the level of criminal neglect." In addition, there is the extra 5 percent of profitability that the Corporate Library metric tells us is lost through bad practice, plus the opportunity cost of boards focusing on short term personal aggrandisement at the expense of sustainable profitable growth. As the one member of the SEC, who opposed the Committee's recent decision to limit the ability of shareholders to put forward resolutions, said: "Corporate governance in the United States is not well served by inattentive boards that are effectively unaccountable to shareholders."
Inevitably one of the headline manifestations of this lack of accountability has been the grossness of the rewards, which some of these principal officers have arrogated to themselves, for failure as well as success. There are attempts to justify these excesses by analogy with the earnings of stars of sport, stage and screen or by claiming that they are market determined. The analogy with the stars is manifestly spurious. The stars earn what their individual talent commands in the hotly contested market for entertainment. The profits of a corporation are earned collectively and represent the sum of the efforts of everyone in an enterprise. The issue therefore is how they should be distributed in a form that would be generally perceived to be fair and in accordance with the concept of natural justice.
A corporation's pay structure should meet the test of equity, rewarding those working for it, from top to bottom, in relation to their contribution to its performance. Ignoring equity in rewards sows the seeds of social division and dissension with its longer term consequences. What seems to have set the bounds to the multiple by which the earnings of the principal officers of companies exceed those of the average employee in most countries is a sense of social cohesion. The multiple varies by country and through time, but it represents a social constraint or discipline, which carries with it economic advantages not to be ignored.
- Bob Monks: Corpocracy
Inevitably one of the headline manifestations of this lack of accountability has been the grossness of the rewards, which some of these principal officers have arrogated to themselves, for failure as well as success. There are attempts to justify these excesses by analogy with the earnings of stars of sport, stage and screen or by claiming that they are market determined. The analogy with the stars is manifestly spurious. The stars earn what their individual talent commands in the hotly contested market for entertainment. The profits of a corporation are earned collectively and represent the sum of the efforts of everyone in an enterprise. The issue therefore is how they should be distributed in a form that would be generally perceived to be fair and in accordance with the concept of natural justice.
A corporation's pay structure should meet the test of equity, rewarding those working for it, from top to bottom, in relation to their contribution to its performance. Ignoring equity in rewards sows the seeds of social division and dissension with its longer term consequences. What seems to have set the bounds to the multiple by which the earnings of the principal officers of companies exceed those of the average employee in most countries is a sense of social cohesion. The multiple varies by country and through time, but it represents a social constraint or discipline, which carries with it economic advantages not to be ignored.
- Bob Monks: Corpocracy
