Profit Share
 

So........ from PC - "I am pleased to announce that staff will get a share of the rewards this time, equivalent to 6.4 days of monthly salary plus a lump sum of HK$6,000 or half a month’s salary, whichever is lower. "

Better than nothing me thinks...Ducking for cover now:E :E :E

Arcla
Based on your calc's, us across the road will be getting 1.6 days plus $1500...
Fx

what a joke.

Bit of a joke.

Time to push for that pay rise me thinks!

FFS, it is better than nothing! Better than last year anyway.

If you want more share of the profits, call your bank and ask to buy CX shares. Not rocket science.

more than a bottle of beer..........
for those of us that remember.

This may not be the world of money to us but its alot to the cabin crew and ground staff...I say take what you can get!
Anyway it will pay for my Seven's beer bill!!!!:E

throw a few crumbs to the headless chickens....................stops them sqwarking for a bit.........................

is this a joke or what ??

:ugh:

Seriously.... this is a joke right?

a joke that makes me :yuk: so i'm off work now untill i get a pay rise :*

what tha??!!
 

Yeah well did anyone expect anything else???
Is easy to say we should be happy with what we got but i remember the days of getting a few weeks p/s when we made this kind of money. I believe most people are just dissapointed in general with the company and these things just add to their woes.
I did say in another post, i would be happy to vote out p/s for a small pay rise, so we dont have to go through this every year!! Now before you all get on your horses, this pay rise in no means gets in the way of other pay negotiations that we should be gearing up for!!
Happy for the other staff, if in fact they are happy with this!!
Would be interesting to see a comparison with the old formula!!!!

It would have been no profit share at all.

I, for some reason doubt that.

I would bet it would have been more. Maybe 2 or 3 weeks.

Joke... Has To Be
 

:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

tifters & elgringo

Unfortunately under the old scheme you would have been very disappointed. Under that scheme no profit share would have been paid because net profit had to exceed 7.5% of turnover before it would kick in. So if we take the audited results for 06-07 at face value it would have only achieved (4272 ÷ 60783) × 100 = 7.03%.

Maybe so Titan but just watch the Execs collect 3 months!:mad:

boy, talk about pessimists!
Under the previous profit share formula we would have got ZERO as the profit was less than 7.5% of turnover.
Under the profit share fomula that was in force from late 80s till late 90s we would have got ZERO as we had to have profit in excess of 10% of turnover.
Obviously the company is up to no good paying us profit share now...or am I being paranoid?

hahahahaahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh hhhhhhhhhhhhhhhhhhhahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa.... ........................

hahah.


I think its funny... it takes care of my tax bill.. BUT it gives me NO motivativon, at all, to consider saving fuel going anywhere.. My promise to CX!! I will never ever give a F... about saving fuel going anywhere.. 2T here 2T there I dont care.. step climb 0, cost index XX.. I dont care... **** your self.... hahaha.. such an easy job.. not my money.. All the ******* googs are happy now.. lets see what happens to the guys who save money.. hope the ****.ng Mickey Mouse (yeah baby - Phillipe Chen) gets to suck cock on Kim Yong Phil and that.. Congrats to the guys who left already.. May you enjoy.. I will joyin you in 1.8M from now... hhahahahah... What a !!!! company Cathay really is - they just proved it - 4B profit. F.C. you staff... do you swallow... hahahhahahha - I dont.. Im goin hahahha Sh.t.. shi..

Gratitude??
 

Given that the shareholders have no obligation whatsoever to share profit with staff, I think the phrase some of you are searching for is "thank you"...

Ungrateful tw@ts

Liam,

I think the point is that the managers will receive significant amounts based on the amounts they could cut from the budget, things like our meals allowances etc, and on the performance of the staff at the coal face.

Perhaps the staff at the coal face deserve more!

Backspace,
Management bonuses have nothing to do with the Profit Share announced yesterday. Management bonuses are performance related pay and form part of a Manager's renumeration package. If Yeager and co want a piece of that; buy a blue shirt, iron your pants, polish your shoes and get ready to kiss @rse.
As another poster said; you want profit share; put your money where your mouth is and call your broker.....
I stand by my comment... ungrateful tw@ts......

What a bunch of spoilt bloody brats.

Liam,

I agree management bonuses aren't related to profit share. You and I can see that but ask someone on a service desk or a ground engineer or any other "at the coal face" and see what the concensus is.

The managers are payed what they get paid period. What people find hard to accept is the amount of bonuses that managers get paid. This is not a Cathay problem it is a global problem that all large companies are having trouble justifying to not only staff but shareholders and the general public.

Most of you are spoiled brats. It is our train set. The pilots are very lucky to be employed by The Cathay Pacific Group and be receiving any profit share.

We decided to give profit share and many are still ungrateful. Most that receive profit share don’t contribute to our profit but we are in the process of changing that formula (see last post on Profit Share). We are pushing this at Board Level.

Some of us believe profit share should be abolished. We pay the employees a salary to do their job. We intimidate them to go beyond their job. Why do we pay employees a profit share?

Profit share should be abolished and Bonuses given to Department Heads based on their performance. We in Flight Operations, Employee Services and Personal Departments are doing a wonderful job reducing Pay and Benefits and FOP for increasing intimidation.

Like last year we received close to 10 months in Bonuses and again we would like to thank the entire employee group for going above and beyond to make The Cathay Pacific Group very profitable this year. This year we will receive at least 10 months or slightly more.

If any are up on the 9th floor, please drop by the DFO’s office and he would gladly show you his pay receipt, but make sure it is after April. If requested we can post a copy to the AOA for members and display it in the crew room for non-members.

Thank you to all pilots that go out of their way to make The Cathay Pacific Group very profitable. We hope you enjoy your profit share this year.

Keep up the great work for this financial year. To Our Bonuses.

The Management

regretCX

If only you would just resign then maybe we would have seen 6.5 days.:ooh: :}

wow, I can't believe regretcx didn't figure out that the "Little green button with the variable length string was to enable people to take their pet gerbil/or hamster out for walkies..........................

it certainly had no other use.........................

I concerns me to read my 'peers' talking like spoilt fools.

regretCX: What planet are you from? From your title to your child-like, dummy-spitting tantrums, don't you think you should do yourself a favour and LEAVE. If life is that bad - go away.

Yes CX management evidently leave a bit to be desired but you need to come down here, join a regional/Jetstar/Virgin Blue and see what crap that can be. Pilots here would be very happy to get profit share. I firmly believe in a fair day's work for fair day's pay and if I don't believe that's what I'm getting, I personally will take my skills elsewhere (which I may be about to do). Maybe I'll take the job you'll vacate at CX. Airlines are getting desparate for pilots these days.

Your rants are an embarrassment and I for one would like to say you and your ilk (who are noisy but thankfully in a minority) do nothing to improve the image of Professional aviators. Some of us have worked out rear-ends off with industrial unions and associations trying to achieve better T&C for our members but fools like you make it disillusioning.

Idea for you regretCX: Instead of being an anonymous loudmouth wasting cyberspace, how about putting all your testosterone into action, marching up to the top floor of your company, seeing the CEO and repeating the stuff you have sprayed on PPRUNE and get everybody better T&C and better profit share. That way you will do something constructive rather than just mouthing-off. When will you do that? Today?

I will revisit the site tomorrow and eagerly await the results of your endeavours. Have a nice day and enjoy spending your profit share.

In addition to 25% of the CX bonus, we've also been given HKD2000 plus 10% of a months salary.


Cheers Kenny
Fx

regretCX

You seem to be under the misconception that your job is a right. No job is a right F/O Rrrrregret. It’s a privilege, even the one that you so despise here. You are obviously one of those people that think the world owes them a living? I’ve got news for you. It owes you nothing and the sooner you realise that the better because quite frankly you come across as a spoiled brat who doesn’t know how to deal with someone saying no to your constant whingeing.:ugh:

DirectAnywhere

I hear ya buddy. Thank god people like F/O regret are in the minority here.

The hole in the Swiss cheese just got bigger - who ever would have thought that possible. Keep leaving the company guys - you a doing well. Maybe we will see a few more planes go into heavy maintainance soon due to lack of crew.. Gnsk gnsk gnsk gnsk..

Keep smiling :}
Y

In a post on this topic which has been deleted, the regretful one may have unwittingly identified himself. He gave a clear indication of his resignation date! Very foolish.

regretCX...I'll ignore yet another of your childish comments about me 'festering underneath my rock' (?) and return to the point.

Dummies like me have spent much of our careers on Unions representing pilots, of which you may apparently be one. I grates to admit it but management often retort that some pilots are a pain in the a*se and you little fellow appear to be one.

Its not that I object to you having an opinion, albeit a expressed in a childish, foulmouthed petulant tirade. It's that I object to you and your ilk who whing and whine and complain to all and sundry including pathetic little anonymoyus outbursts but don't do anything.

Some of us get involved in Associations, some (very few) have even joined management and tried to fix things from within. So what for you? What will you do to improve the lot for the Professional Aviator?

As promised I checked-in to see if you would have the balls to go see your boss, CEO or whoever he is and complain about your profit share?

Did you?

Will you?

If you don't have the ability to be proactive and do something to change the lot for yourself and your colleagues then shut up.

Good post Mr. Vator.

Perhaps we are being to hard on the little fellah. (regretCX) I think we should take steps to try and understand why he such a bitter and twisted individual. What I suggest is that in order that all of us can fully grasp the realities of the dead-end life he leads, I suggest that Regret post a little summary of his ERAS reports here for our perusal.

At the very least it should be good for a laugh.

N22XXXE, and if that someone identified him/her self - then what? Are you trying to imply that the hat police or any other CX police dudes are out for yet another hunt - whhoooooo.. watch out, watch out - management by fear is coming our way.. Just yet another prime example of how sick the system makes people. In aviation - that's excately what we dont want to see.
But what do CX know about that - its so perfect.. :ok:

Its all nothing but a laugh.. :D

Anyways happy laughing - and flying - just dont make mistakes.. :=
Y

P-share
 

interestingly we used to get a couple of months when turnover was about 1/3 of what it is now..i guess with all the firings,cost cutting,productivity over the years it now cost 400% more to actually operate an airline....yeah i know...fuel bills.
still the only way to really get a tax-free boost is to pay yourself a huge increase in dividends...yes we have to 'look after the shareholders'....a'hem ..and who might they be??:ugh: :ugh:

regretCX

As my kids would say, "You got issues ...". Loosen up.

regretCX...shut-up and make the bunk!:}

I can sympathise with regretCX because he seems way more honest and human than some of the sycophants around here that condemn him, hey, I can even see a little bit of myself in him. ;)
My advice: before things get from bad to worse plan an escape and act on it, you will be depressed for quite a while about what happened to your hopes and dreams. However, you already sense that you are not THE problem but part of A problem, you will only fully realise what you have regained when you settle in a proper new job.

Don’t look back and let those that give you nasty comments now continue a career on their knees. After all, they haven’t just cheated you out of a life, but themselves too.

Some of the responses here tell more about the place that Cathay really is than regretCX’s angry outbursts. Little or no social cohesion and when you walk around CX City you mostly encounter rather tense souls intent to portray the smiling and confident professional aviator, just to get through, somewhat artificial really... :hmm:

How is Africa FCUX?:=

You don't like Arctic Char? :8

Of course now that you've all been down to the Plaza to drown your sorrows on those beer stained picnic benches, thought the whinging masses would enjoy the following to get the moaning started again:

HAECO Profit Share - 8 weeks pay
HAESL Profit Share - 10 weeks pay

And while you are drinking your morning hangover java think about this:

Of the $15 you just paid for your mansized-skinny-mocca-chocca latte, only 1%, that's 15 cents if you haven't got a calculator with big buttons, will go to the farmer in Africa that actually spent a year of graft and sweat growing the beans. Suggest you spend part of your $6,000 and 6.4 days pay on Fairtrade coffee and get a life! :ugh: