Nov 2009 Profit Share

[sarg]

Spring profit shares was based on 4th & 1st quarter profits of approx. $92M. Fall is 2nd & 3rd quarter profits of approx.$40M. Yield determines how much goes into the pot guaranteed minimum up to a maximum of 20%, I beleive, based on yield. Eligible earnings as a percentage of payroll equals your cut of the profit share pot.

Long story short look for about 40% of what you got in the spring. Which if memory serves should be about 1 weeks pay. It's a nice little bonus regardless of the amount.

[Clint23]

John...
What you said...agreed.
I bought a watch with my first profit sharing cheque, today they tell me it's $125 for a new titanium strap.
I'll be ecstatic if my cheque will by me the new strap.

So McDoo, you gotta agree with me..."It's all good" right?

[WetJet]

As I'm not a Westjetter, I have a question: If profit were to remain constant but the number of planes and therefore pilots goes up, are the cheques then diluted? Or if the number of pilots goes up by say 10%, would profit have to go up by 10% for the profit share cheques to remain the same?

[Flying Nutcracker]

As I'm not a Westjetter, I have a question: If profit were to remain constant but the number of planes and therefore pilots goes up, are the cheques then diluted? Or if the number of pilots goes up by say 10%, would profit have to go up by 10% for the profit share cheques to remain the same?

It's bigger than that!!! I don't think pilots are the only ones that get profit sharing... EVERYBODY does!

[Machiavelli]

To answer WetDream, yes, the more employees the more profit is necessary to generate the same return as everybody gets some. The assumption is that if there's more employees, the company is bigger and therefore more profitable. Doesn't always work this way. The reality is that the profit is cyclic thus the profit share cheques are too.

[stickontheice]

Heard a rumour that Profit Share was going to be 1.1 million this time around. Just thankful we're in the black.

[Machiavelli]

No need to go on rumour. Profit Share to be paid on November 27th is from the second and third quarters equalling $1.185 million and $5.476 million respectively. A little math and we're getting $6.661 million. Better than a stick in the eye.

[Four1oh]

Better than a stick in the eye.

But that can be arranged as well if given enough prior notice!

[CanadaEH]

November 2008 payout: $14.3M
November 2009 payout: $6.6M

Just under half. I wish I could determine the amount of eligible employees but I wouldn't know where to look.

[Rotten Apple #1]

This is what I said:

A first approximation: Adding the last two quarters of profit share contribution compared to last year's, leads to almost exactly half the $ to divide up this year. Expect your paycheck to be about half (before taxes) compared to last fall (assuming your salary's been about the same).

And the actual result, for me (before taxes):

(this fall profit share)/(last fall profit share)=0.535

or, just about half. Slightly more, in fact.



Nice work everybody.

[Jastapilot]

I win. I had a bigger check than I expected. How can complain!? HPS

[DaveP]

Nice party and a great get together today.
I hope you guys brought in a toy for the toy drive and dropped it under the tree today! We are down almost 1000 toys from where we were last year at this time!

Dave.

[KAG]

I was expecting half of what I got, I'm pleasently supprised.
Nice work all.

[5dayer]

me too,twice as much as I thought.Good job everyone

[WALL E]

Missed the party will have to get mine on monday! Good job people!

[Jastapilot]

Some of us were too busy at work to party... yet. I'm going to combine my profit share party with grey cup. Should be a good time!

[Johnny#5]

mmmm....I'm going to buy kool-aid with my cheque!

[Legacy]

mmmm....I'm going to buy kool-aid with my cheque!

Jeez I never heard that before

[RFN]

Johnny,
don't be a twit.

[Jastapilot]

mmmm....I'm going to buy kool-aid with my cheque!

JSYK... the money IS the koolaid!