CUPE and now CALDA
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Re: CUPE and now CALDA
GUess you should stick to flying planes and not dealing with accounting.Diadem wrote: ↑Tue Aug 14, 2018 11:34 am If the pilots have to stop negotiating every time the company posts a loss, then management will start moving money around to create a loss any time an employee group wants to change their contract. "FAs want a raise? Sorry, we decided to pay off a loan on a Max early, and the company took a loss. Too bad, wait until things get better." It's one quarter, WestJet will survive.
Paying off a loan early is a balance sheet item and has zero effect on the profit and loss, unless there were to be a penalty for early payment (worse off), or the more likely scenario.... less interest paid on the loan (better off). It's simply a cash flow issue and would only be done if the return to the company (ie savings) is better to pay off the loan earlier than carrying it for a longer period. (Might be other constraints such as leverage, etc, but you get the point)
If the company posts a loss the market will dig into the underlying financials and figure out the root cause. Analysts tear the statements apart line by line and figure out what's going to stick in future periods (ie, fuel costs) and what's one time impacts (ie lost revenues due to uncertainty)
Re: CUPE and now CALDA
It would be really nice if we could see the costs of a certain senior executive's departure and the Swoop startup costs which came from WestJet's bank account since up until June 20th Swoop had no revenue.
Re: CUPE and now CALDA
Swoop startup was treated as a project which will be capitalized over a period of time (likely 5 years), not in just one quarter, as dictated by IFRS rules. Gregg’s departure will involve a lot of the payment in immediate vesting of already allocated shares (RSUs, PSUs, etc), any cash payment will be in the quarterly report if it was paid in that quarter, as per IFRS accounting rules and reporting requirements, it is unlikely that it would have made a significant difference to the results.
Public companies in Canada that are required to report to IFRS rules have little leeway in what is financially reported and when, it is dictated for them.
Re: CUPE and now CALDA
All of employee severance costs are included in the quarterly earnings report. Greg’s severance was reported in Q1.aerobod wrote: ↑Tue Aug 14, 2018 8:06 pmSwoop startup was treated as a project which will be capitalized over a period of time (likely 5 years), not in just one quarter, as dictated by IFRS rules. Gregg’s departure will involve a lot of the payment in immediate vesting of already allocated shares (RSUs, PSUs, etc), any cash payment will be in the quarterly report if it was paid in that quarter, as per IFRS accounting rules and reporting requirements, it is unlikely that it would have made a significant difference to the results.
Public companies in Canada that are required to report to IFRS rules have little leeway in what is financially reported and when, it is dictated for them.
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Re: CUPE and now CALDA
Is this just for the mainline Westjet dispatchers or for the Encore/Swoop groups as well? Do they even have separate dispatchers for the Encore/Swoop flights firstly?
Nothing cleans a dirty plane like 100LL!
Re: CUPE and now CALDA
WestJet dispatch does Swoop. Encore has their own.
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Re: CUPE and now CALDA
Huh. Lookee here.WeedPro2000 wrote: ↑Sat Aug 11, 2018 9:11 am Unions for the win!
https://www.cbc.ca/news/business/tim-ho ... -1.4781644
How’s an arbitrated agreement sounding now?
WeedPro2000
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Re: CUPE and now CALDA
If Patting yourself on the back is what you need to stroke your ego, feel free.
When your done, its time to grow up.
When your done, its time to grow up.
The Tenth Man wrote: ↑Fri Dec 28, 2018 5:10 pmHuh. Lookee here.WeedPro2000 wrote: ↑Sat Aug 11, 2018 9:11 am Unions for the win!
https://www.cbc.ca/news/business/tim-ho ... -1.4781644
How’s an arbitrated agreement sounding now?
WeedPro2000