NWA profit sharing...and AA?

Hopeful

Veteran
Dec 21, 2002
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Oh,,I forgot, we have a contract!






bizjournals.com
Northwest to share profits with employees
Friday December 22, 11:12 am ET

Northwest Airlines is headed out of the red and plans to share profits with eligible employees.

The carrier said Thursday said it would post a profit of between $230 million and $270 million before taxes and bankruptcy reorganization charges this year. The Business Journal reported in November that the company has forecasted a "modest profit" for fiscal 2006.

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Documents filed with the Securities and Exchange Commission show the airline creating a pre-tax profit-sharing pool of $23 million to $27 million for qualifying workers. CEO Douglas Steenland sent a letter to employees about the plan on Wednesday.

Roman Blahoski, a spokesman for Northwest, said all contracted, salaried and management positions that are not already part of an incentive-compensation program are eligible.

Under the plan, for example, an employee earning $40,000 a year would receive a profit-sharing award of about $700 while an employee making $60,000 would receive about $1,000, Blahoski said.

The profit share is expected to be paid to employees on March 31 after completion of full-year financial results.

Published December 22, 2006 by the Minneapolis/St Paul Business Journal
 
"Northwest to share profits with employees."

AA has recalculated things, and since they now show a loss, they are going to share it with us. We owe THEM money. :(
 
In the interest of accuracy, most folks will *not* get $700 (certainly not most in ground ops). Using my 45k income, my benefit comes to roughly $330 [ $563 total x .78 for 401k cut x .75 for normal tax cut-that's assuming it's not taxed at the 45% supplemental rate, BTW.].

I would much rather have my 5700 in annual wages back. and my union brothers and sisters staffing outstations...And free insurance...and double time and a half...and full pay for sick days...and line pay...and shift differential...etc, etc, etc...
 

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