I wouldn’t get my hopes up just yet. Yeah, $200M is a big stack of coin but to cover all non-salaried employees spread across all op-cos, $200M won’t go far IMO...but I could be wrong.
Same goes for the pension, guess we’ll see....and don’t get it twisted, I’m very grateful for any and everything they want to give us, I’m just sayin’...
Red, you make a good point. A disappointing point, but absolutely true.
One consolation, this is only what they've chosen to do the
first year. Another would be
the extent of this "early" raise.
From what I've read, that $200M in increased compensation spending comes
solely from moving the wage increase from October to April. Nothing more, in terms of an
added increase. Also, only 2/3 applies to hourly, remaining 1/3 goes to salaried incentives (bonus). This makes sense because, as you point out, that is a
fairly small number. More on the numbers later.
The pension number is a VERY BIG number in anyone's book. That is another one we'll dive into later. Does it mean what some think it means? I think you have to pay close attention to the wording. Stay tuned.
We have the public numbers on what the Board of Directors approved, but we don't yet know
exactly how leadership will apply them. We can speculate, if anyone wants to. Some of it gets tricky, since we (I) don't have access to enough hard numbers, or exactly how they will be applied.
Plenty to look at, over time... Still digesting it. Not going to waste too much time right now,
if at all. So, if anyone else wants to take a stab at it, please feel free...
I have more questions than answers...
At the moment, I'm not crazy about the few answers I do have. But, then again, I could be wrong.