Happy Profit Sharing Day!!

Discuss topics relating to Westjet.

Moderators: lilfssister, North Shore, sky's the limit, sepia, Sulako, I WAS Birddog

Machiavelli
Rank 4
Rank 4
Posts: 201
Joined: Mon Apr 04, 2005 2:53 pm

Happy Profit Sharing Day!!

Post by Machiavelli »

Nicely done gang and congratulations. See you at the hangar.
:D :D
---------- ADS -----------
 
Flightlevels
Rank 7
Rank 7
Posts: 703
Joined: Sun Feb 29, 2004 7:16 pm

Post by Flightlevels »

8) wow pleasantly surprised!...nice work everyone!
---------- ADS -----------
 
gulfan
Rank 4
Rank 4
Posts: 283
Joined: Thu Jan 19, 2006 11:16 pm
Location: Calgary, Alberta

Post by gulfan »

Everyone was counting down the hours yesterday, one of the recruiters mentioned profit sharing at least 20 times in two hours.
---------- ADS -----------
 
CBGUY
Rank 1
Rank 1
Posts: 15
Joined: Sun Oct 01, 2006 5:20 am

Post by CBGUY »

What a turnout in Calgary. Finally, it's safe to try and drive out to the street. It was pretty backed up there for hours.

Well worth the wait :D
---------- ADS -----------
 
WJ700
Rank 8
Rank 8
Posts: 874
Joined: Wed Sep 15, 2004 8:48 am
Location: in front of my computer.

Post by WJ700 »

I had to laugh when the Calgary City Police had to attend to run the four way stop and get the traffic snarl out of the way of the hangar. WestJet's profit share party traffic jam was mentioned on the radio traffic reports too.
---------- ADS -----------
 
User avatar
neophyte
Rank 5
Rank 5
Posts: 303
Joined: Thu Jul 28, 2005 5:38 pm

Post by neophyte »

Congrats to all of you WJ'ers!

I got to share a half eaten cheese plate with a fellow pilot yesturday, does that count as profit sharing???

GOOD WORK :)
---------- ADS -----------
 
ei ei owe
Rank 8
Rank 8
Posts: 793
Joined: Sun Mar 06, 2005 1:39 am
Location: getting closer to home

Post by ei ei owe »

How much is a WJ welshare cheque?
---------- ADS -----------
 
Everything comes in threes....
double-j
Rank 6
Rank 6
Posts: 462
Joined: Thu Feb 19, 2004 10:04 am

Post by double-j »

ei ei owe wrote:How much is a WJ welshare cheque?
Guess you'll gotta get out of manitoba to find out :lol:
---------- ADS -----------
 
CanadaEH
Rank 8
Rank 8
Posts: 962
Joined: Fri Apr 02, 2004 3:02 pm
Location: Tuktoyuktuk

Post by CanadaEH »

How much is a WJ welshare cheque?
Your bound to get an honest answer with a question like that. :roll:
---------- ADS -----------
 
Blastor
Rank 8
Rank 8
Posts: 964
Joined: Mon Mar 01, 2004 11:20 am
Location: North America

Post by Blastor »

How much is a WJ welshare cheque?
A joke...answer yar question?

BTW I prefer a cooked burger thx
---------- ADS -----------
 
Flightlevels
Rank 7
Rank 7
Posts: 703
Joined: Sun Feb 29, 2004 7:16 pm

Post by Flightlevels »

we always knew mine was bigger than yours.
---------- ADS -----------
 
User avatar
McDoo the Irish Navigator
Rank 2
Rank 2
Posts: 93
Joined: Sat Aug 21, 2004 3:04 pm

Post by McDoo the Irish Navigator »

$5297.00
---------- ADS -----------
 
Just because you're not paranoid, doesn't mean no-one's out to get you.
Ardilla
Rank 0
Rank 0
Posts: 2
Joined: Fri Sep 30, 2005 9:58 am
Location: Canada

Post by Ardilla »

Hey McDoo, did you include the extra 20% on top of your P/S from the ESP top up? :D
---------- ADS -----------
 
User avatar
McDoo the Irish Navigator
Rank 2
Rank 2
Posts: 93
Joined: Sat Aug 21, 2004 3:04 pm

Post by McDoo the Irish Navigator »

No, I already contribute 20%.
---------- ADS -----------
 
Just because you're not paranoid, doesn't mean no-one's out to get you.
tonysoprano
Rank 10
Rank 10
Posts: 2589
Joined: Mon Jul 18, 2005 7:01 pm

Post by tonysoprano »

Didn't you guys use to pay off mortgages with this stuff? I mean that hardly pays the debt owing on pervert's row. Anyway, well done just the same. I don't get one of those cheques. Sure would be nice this time of year. :wink:
---------- ADS -----------
 
WJ700
Rank 8
Rank 8
Posts: 874
Joined: Wed Sep 15, 2004 8:48 am
Location: in front of my computer.

Post by WJ700 »

tonysoprano wrote:Didn't you guys use to pay off mortgages with this stuff? I mean that hardly pays the debt owing on pervert's row. Anyway, well done just the same. I don't get one of those cheques. Sure would be nice this time of year. :wink:
I think in the hayday it was never over 10G's for a skipper. Most of the cheques just get signed over to the staff at Woody's Taphouse anyway.

I thought AC had a performance based payment plan in place similar to Profit Sharing?
---------- ADS -----------
 
Four1oh
Rank 10
Rank 10
Posts: 2448
Joined: Thu Apr 06, 2006 9:24 pm

Post by Four1oh »

I think tony's confused with the stock options...
---------- ADS -----------
 
tonysoprano
Rank 10
Rank 10
Posts: 2589
Joined: Mon Jul 18, 2005 7:01 pm

Post by tonysoprano »

I thought AC had a performance based payment plan in place similar to Profit Sharing?
Yep we do. They bribe us with about $75 a month to be on time. :wink:

I think tony's confused with the stock options...
See that's why I couldn't work for WJ. The pay structure would confuse me too much. :lol:
---------- ADS -----------
 
Machiavelli
Rank 4
Rank 4
Posts: 201
Joined: Mon Apr 04, 2005 2:53 pm

Post by Machiavelli »

Yeah tony you're confused again (re: dreamer vs dreamliner).

It would be nice to pay off a mortgage with a cheque of 10-15 thousand when the profit sharing cheques were that big but I doubt many mortgages were that small. The options that guys used to get were worth hundreds of thousands and thus the mortgages going to zero, big houses, sailboats and BMW's or a bigger truck. This is Alberta after all.

Our compensation is less complicated than your ACPA agreement, believe me.

Options are risky and many were unhappy with the old situation and so our new agreement modernized the approach. We only got a one-time 6% raiseto our salary over the three year term. The big change is the options we used to get can now be converted into salary (cash) at four levels at your discretion once a year. An example would be for 2006, let's say you're a first-year skipper and you decide that you want the high salary (cash) and go for only 25% option compensation. You could also have chosen 50%, 75% or 100%. Therefore, you would get an option value as determined by the Black-Scholes accounting method of about $10,000 instead of the usual $40,000 (25%). That $30,000 difference is then paid to you as salary, in other words your hourly rate goes up from $77.78 to $109.96. You would go from about $75,000/year to about $105,000. The downside is that you lose 75% of your option and there are many philosophies to consider with that. If you believe that the share price is going to provide average return over the four year life of the option and you're going to do minimal overtime then a full option grant is for you. If you don't mind paying the taxman, your gonna work OT and you want the cash now, a low option is for you. The list goes on...

Clear as mud?
---------- ADS -----------
 
WJ700
Rank 8
Rank 8
Posts: 874
Joined: Wed Sep 15, 2004 8:48 am
Location: in front of my computer.

Post by WJ700 »

See that's why I couldn't work for WJ. The pay structure would confuse me too much. :lol:[/quote]


It's confusing. However my head hurts when I look at the ACPA contract to figure out formula pay. The good part is that either system is trying to produce the same thing... dollar signs and days off.
---------- ADS -----------
 
tonysoprano
Rank 10
Rank 10
Posts: 2589
Joined: Mon Jul 18, 2005 7:01 pm

Post by tonysoprano »

The ACPA contract. Let's not go there. It's an inch and a half thick of lawyer-friendly, pilot-confusing language. It's a great sleep inducing tool for those nights when you can't fall asleep. But without one, we'd be just another monkey in the jungle.

Mach.
Thanks for the effort dude. Yep, clear as mud now. The best we can do at AC is own stock, at our option, but trust me, it won't make you rich.
---------- ADS -----------
 
Four1oh
Rank 10
Rank 10
Posts: 2448
Joined: Thu Apr 06, 2006 9:24 pm

Post by Four1oh »

dang, what's our agreement? 10 pages, large type? :p
---------- ADS -----------
 
grammar boy
Rank 3
Rank 3
Posts: 143
Joined: Mon Jul 04, 2005 7:53 pm

Post by grammar boy »

Dang, how hot is your avatar, like a 12 out of 10? ;p
---------- ADS -----------
 
"Listen brain, I don't like you and you don't like me, so let's just get through this one thing and I can go back to killing you with beer"
WJ700
Rank 8
Rank 8
Posts: 874
Joined: Wed Sep 15, 2004 8:48 am
Location: in front of my computer.

Post by WJ700 »

Four1oh wrote:dang, what's our agreement? 10 pages, large type? :p

And look, it cause about 40 pages of problems and never ending meetings to solve the issues.

ACPA has to hire ex-crewsked people to figures theirs out. It would be nice to find the agreement Utopia.
---------- ADS -----------
 
tonysoprano
Rank 10
Rank 10
Posts: 2589
Joined: Mon Jul 18, 2005 7:01 pm

Post by tonysoprano »

Actually the support hotline is a good thing. They usually answer any question fairly quickly. And they're not lawyers!!
---------- ADS -----------
 
Post Reply

Return to “WestJet”