Layoffs

[shimmydampner]

3. Eat less meat, its by far the biggest expense in our groceries. $100

Eat MORE meat. Learn to hunt. A $1.25 well placed round could get you 100 or more pounds of free range, organic meat. Fishing is good too. Every man should be somewhat self sufficient when it comes to putting protein on the table.

[fish4life]

- change that cellphone plan (do you still need international/US coverage?)
- learn to do your own small car maintenance. if you drive old junk and don't care about resale value or warranty: oil changes are not mandatory every year
- braking is what makes you burn more fuel. avoid roads with stop signs, or with cops around stop signs
- drink only water. It's the healthiest and cheapest drink available.

Please change your oil at least once a year, changing oil is the cheapest thing you can do to keep a car running well. What I will suggest is if you normally take a car to a garage or quick lube for an oil change do one in the driveway yourself. Even if you don’t know where to start YouTube will have lots of videos that can walk you through what to do step by step. Just don’t forget to change the crush washer on the drain plug and make sure the old o ring from the old filter isn’t still on.

[dumbbell daddy]

Love avcanada. The industry is crumbling around us and we're too busy berating some 23 year old Jazz kid for calling his old man cheap.

[Victory]

Or those irresponsible millennials that bought bread and meat from the store instead of hand milling the flour from the wheat you grew last summer or the buck you speared, skinned, and butchered with a shard of obsidian.

[ayseven]

I just cannot keep my opinion to myself... spend less than you make. There is absolutely nothing else to think about.

[RippleRock]

Talk about thread drift....unreal.

[complexintentions]

Talk about thread drift....unreal.

Hmm...seems to me layoffs and job losses are more than slightly linked to financial preparedness...

I'm not even sure how to respond to that thrashing other than to say I fortunately live down the road from my parents and not in the middle East so I know intimately his cheapness.

For the record - he is not cheap to others, but cheap to himself.

I take it youre not buying any beers on layovers. Keep counting those bucks over there and may I never fly with your jaded self

If you think that was a "thrashing", no wonder you're clueless as to the difference between "frugal" and "cheap".

You don't get it, it's not about counting bucks, it's about values. You trash your dad's, which I find odd, as they've allowed him to absorb a financial loss most Canadians couldn't even conceive of. (And to not worry about a layoff, if that's "on point" enough for anyone.) I've never been shy about splashing out when the situation warrants. But that's a long ways from living a lifestyle one can't afford. From the crescendo of screaming from the masses for the governments to save them, apparently a lot of people have been doing exactly that.

At any rate, this "industry crumbling" is going to clearly show who's prepared for it, and who isn't.

I'm betting on the "cheap" folks doing better than the YOLO crowd.

This "ant" is outta here.

[flashheart]

Talk about thread drift....unreal.

I'm betting on the "cheap" folks doing better than the YOLO crowd.

While under traditional economic circumstances, you would be undoubtedly correct.

However, current cost of living in our Canadian cities after essentially selling out the middle class has created different circumstances.

The average pilot with student loans, rent, low pay, was no way in a position to create a "rainy day" fund. The math was impossible.

There is a fine line between saving and enjoying the moment and your health. I don't have the answer for everyone but there has to be a balance

[nottellin]

Talk about thread drift....unreal.

I'm betting on the "cheap" folks doing better than the YOLO crowd.

While under traditional economic circumstances, you would be undoubtedly correct.

However, current cost of living in our Canadian cities after essentially selling out the middle class has created different circumstances.

The average pilot with student loans, rent, low pay, was no way in a position to create a "rainy day" fund. The math was impossible.

There is a fine line between saving and enjoying the moment and your health. I don't have the answer for everyone but there has to be a balance

And now lots will get a reality check on what balancing actually is

[LennyLeonard]

I'm betting on the "cheap" folks doing better than the YOLO crowd.

While under traditional economic circumstances, you would be undoubtedly correct.

However, current cost of living in our Canadian cities after essentially selling out the middle class has created different circumstances.

The average pilot with student loans, rent, low pay, was no way in a position to create a "rainy day" fund. The math was impossible.

There is a fine line between saving and enjoying the moment and your health. I don't have the answer for everyone but there has to be a balance

[attachment=0]C031D0CD-6324-44AA-A72D-E ... ttachment]
And now lots will get a reality check on what balancing actually is

[mixturerich]

Or those irresponsible millennials that bought bread and meat from the store instead of hand milling the flour from the wheat you grew last summer or the buck you speared, skinned, and butchered with a shard of obsidian.

No more avocado toast, that’s for sure.

[sanjet]

Ive gone from Heineken to Blue Ribbon.

[Soar]

He lost $700k but yes he started with $2.6M.

My point is his cheap ass couldn’t enjoy it and now it is gone. He doesn’t seem too worried. He still has lots.

My other point is the AC pilot that this retirement package targets has lots of money - already. But time is a resource that is limited no matter who you are. Even if the math tilts towards staying, what is the cost in terms of health & time?

I'm sorry but where do you get off calling someone cheap ass because they prefer to keep their money in their own pocket instead of putting into the hands of others? What makes you assume your dad doesn't enjoy his hard-earned money, or his life while he was accumulating it? That's presumptuous bordering on arrogance.

When I was working in the ME I got this all the time because I didn't drive a "pilot car", ie high-end Range Rover/BMW/Merc. Was perfectly happy with my used QX4, and I hardly lived like a monk - but I put the vast majority of my salary in my bank account, not into "glamorous meals" and "nice cars on vacation". I'm pretty glad about that now - no worries financially, WHATEVER the stock or job market does.

It sounds like you have more regrets than your dad does. With the better part of $2 million left his wealth is hardly "gone".

You've as much said that one is "crazy" to want to keep working if they don't absolutely have to, but again - who are you to say how someone chooses to spend their time OR money? Some people actually enjoy their flying job. Still. Risks and all. Not everyone chooses to live in fear that the dreaded coronavirus is an End Of Days event. It's true that people with a lot of wealth can still be very poor in spirit, but not everyone with money is miserable just because they don't share your spending habits.

Perhaps if a few more people had sacrificed like your dad, we wouldn't have entitled idiots planning to not pay their rent next month because they are broke and out of the game with a single month's loss of salary, and millions of people clamouring for the government to "save them". But hey, when you're busy livin' your best life on Insta, can't worry about the future, right?

Not like anyone's been warning people forever about not saving and taking on debt...

Couldn't agree more. Because your father had the foresight to save rather then buy that new car as you put it, he had 2.6mil, instead of less than 1mil depending on how "well" he lived his life, as flashheart put it.

You're missing the most important point. His 2.6mil didn't go anywhere, he didn't lose 700k (in theory). The market is speculatively pricing it at that. His shares, his units didn't go anywhere, he still has them, and when this all rebounds, he'll have much, much more in due time. Are you familiar with "narrative economics"?

By the way, I just back tested what you said. 2.6mil from Dec 2019 - Feb 2020 (let's say when this all went down) would of returned a total balance of $2 513 723.00. Not sure how your father lost 700k in a few months. This is assuming a portfolio of 80% stocks, offset by bonds. A 100% Canadian biased portfolio would of done a bit worse, shrinking to $2 447 833, from the initial $2 600 000 in Dec 2019. Did he have is entire nest egg invested in only one equity? I highly doubt that. You should be patting your dad on the back and congratulating him on saving what he did. Hopefully decades and decades from now you could potentially be inheriting a truly massive lump sum indeed.

The reason I felt compelled to post is because in these times of hysteria, you have to be very, very careful of what you say (read: fake news). You're only adding fuel to the fire and not helping the situation - it's irresponsible. Your opinion is just that, your opinion, which you're completely entitled to it - subjective as it is. Let's stick to facts and get through this...

[Hangry]

Isn’t this thread about layoffs at AC?

[RippleRock]

Apparently it's about "anything related, or remotely related", including Jim Bob's uncles fathers sisters brother that lost a few bucks in the market and now has to eat KD & ketchup. We're working on food ideas for him.

[Fanblade]

Apparently it's about "anything related, or remotely related", including Jim Bob's uncles fathers sisters brother that lost a few bucks in the market and now has to eat KD & ketchup. We're working on food ideas for him.

Wait until the 7th. That will bring this thread back into focus. In order for AC to lay-off it means all open position have to be removed. We also have the 737 fully staffed at 50 with limited reductions on the 320 because of the grounding. Plus up to 600 furloughs.

Just start adding up what the next bid on the 7th will look like. Up to 1/3 of the positions from the last bid removed?

Fortunately for us AC was so far behind on training. Fortunately for us there are 1000 retirements in the next 7 years.

But I don’t think the gravity is really sinking in yet. Wait until the 7th. Then it will.

[rudder]

Even with significant govt financial assistance available, US carriers are starting to diagram dramatically reduced route maps/schedules and smaller employee footprints effective 01 October when the no layoff provision expires.

AC is likely in the same boat.

[L39Guy]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

[altiplano]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

We were uncharted territory on the length and effect of the 737max grounding and they weren't going to provide any relief on the flight and duty time file. I'm not so sure they defer it for this either.

[RRJetPilot]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

Why the hell would the government delay the rule when It would mean fewer jobs at the airlines. The government is desperate to keep as many off EI as possible. Take a look at the new 75% wage subsidy. I would be very surprised to see anything on that...