Brainwashed WestJet pilots

Discuss topics relating to Westjet.

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Legacy
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Post by Legacy »

Blastor wrote: Forget the stock options and the PF. They are worthless unless you happen to be among the first 100 employees.
Just when i thought you might have a good thing to say you come out with a VERY uniformed statement such as this. Blastor, I dont know where you work but you sure are an AC fan. No matter who you work for can you at least come out with some EDUCATED and NON BIASED information. Your statements have as much credibility as saying "Westjet is no good because I do not like teal". Dude, come on and grow up. I have worked for both sides and at least i can come up with some informed facts. Your statement about stock options? The captain I just flew with has been here for about 6-7 years and exercised his options and was sent a 40K cheque. Not bad for not being in the top 100. If you do work for AC I hope 20 years from now your family isnt as miserable as you are and I hope you don't drag them down with your depression because you hate you job. from now on just make some informed statements before you go shooting your mouth off. It gets kinds boring. You are getting to be like those freaking dufresne furniture flyers i get in my mail box. you hate getting them but they are still just "there" and in the end you throw them out in the garbage. somewhat like your posts.
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leftyxl
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Post by leftyxl »

Isn't that nice blastor....you found some nice friends to play with.
Now make sure that your helmet is on good and snug before you go out to play. Here don't forget your ritalin. :roll:
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onezerotenthousand
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Post by onezerotenthousand »

nicely summed up Guard - Diner!
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AND THAT'S THE WAY THE COOKIE CRUMBLES!
Machiavelli
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Post by Machiavelli »

There are two main benefits of options vs. cash salary. They are the risk-reward already discussed. The second is that the amount of tax paid on an option is lower that what you pay for your salary in income tax. Options are equity and are thus taxed as a capital gain. Ask your accountant about the difference between a capital gain tax and federal/provincial income tax.
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leftyxl
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Post by leftyxl »

Blastor is gonna have to take off his shoes for that one!
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Hadji Ramjet
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Post by Hadji Ramjet »

No, options are not taxed as capital. The difference between the strike price and the value when exercised is taxed as income, not capital, although there is an adjustment first added in the Oct 1998 mini-budget. The difference between the value when exercised and when sold is treated as capital and is subject to capital gains tax.
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cyyz
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Post by cyyz »

But according to Toronto police financial data obtained, there were 2,718 officers whose total compensation exceeded $75,000 last year

Hydro One and OPG took up a big chunk of the list – with more than 7,000 workers in the $100,000-plus club.

More than 2,000 City of Toronto officials made the list

277 Bus drivers made over 100k

So lets compare apples to melons? AC f/o 26k, Bus driver, hydro 1 janitor, city janitor, TPD cop 100k+.


But tony was right in an airline pilots association of all licensed pilots...
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Hadji Ramjet
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Post by Hadji Ramjet »

Not really a valid comparison. All the examples you're using aside from AC are public-sector unions.
Maybe you should compare with:
- Private sector bus drivers;
- Private sector rail lines;
- Private sector utilities;
- Private sector security.
etc etc...
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linebacker35
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Post by linebacker35 »

The middle eastern carriers are benifiting from the oil because they are government owned airlines(most of them anyway), and it so happens that those very governments have more money then they know what to do with. I doubt Alberta will be giving money to westjet

RB-211 wrote:I think the price of oil will determine the future of WJ because of two reasons. 1) They fly the arguably the most fuel efficient fleet of aircraft in North America along with their already low cost base. Adding the 787(which will happen) will keep this trend going. 2) Their headquarters and main customer base is sitting on what many experts are saying are potentially the largest oil reserves in the world. Look at the success of Middle East carriers these days carriers if you are wondering why I mentioned that.

Rocket science 101 will teach you that WJ is here and will be here for some time. The question is how much bigger will they get, and how much more market share will they grab from the fire sale in Toronto and Montreal. My money is on a good chunk. Kool Aid or no Kool aid, I know where I would stick my cake.

Tony, go to work.

:smt039
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tofo
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Post by tofo »

I want to work there
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Machiavelli
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Post by Machiavelli »

Hadji,

Did you not just re-say what I said?

"The difference between the value when exercised and when sold is treated as capital and is subject to capital gains tax."

vs.

"...amount of tax paid on an option is lower that what you pay for your salary in income tax. Options are equity and are thus taxed as a capital gain."

The one thing that I should have said was "options can be equity", not "options are equity".

What am I missing?
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1900guy
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Post by 1900guy »

[/quote]Well if Brainwashed means:

1. Your employer treats you like a human being
2. You fly the newest fleet in North America
[quote]

Regarding #2 here;

I guess the EMJ, the B777 and the Dreamliner which is coming don't count eh!
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Four1oh
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Post by Four1oh »

"newest fleet" doesn't mean a couple of new planes. it means the average age of the entire fleet is the newest in north america.
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1900guy
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Post by 1900guy »

Just a 'couple' new airplanes eh! Might want to check your numbers on how many of each are coming are coming. (More in fact than the entire WestJet fleet)
I guess by your count, any startup company that buys ONE new airplane can put in the claim for the 'Newest Fleet in North America!'
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Four1oh
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Post by Four1oh »

really! and do i need to explain the difference between 'ordered' and 'delivered' next?
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WJ700
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Post by WJ700 »

[

Regarding #2 here;

I guess the EMJ, the B777 and the Dreamliner which is coming don't count eh![/quote]

AC is parking the 340 but also needs to park the older A320's and the old 767's, then it will have a new fleet, maybe the newest.
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Tiny Voices
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Post by Tiny Voices »

As nice as it is to fly new airplanes, i find point #1 to be by far more important in the measure of my job satisfaction!
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Armi
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comparison debate.

Post by Armi »

interesting conversations. i enjoyed reading them, and i should say that i learned a lot from it. :?
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Hadji Ramjet
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Post by Hadji Ramjet »

No Machiavelli, it was not the same thing. You said, "Options are equity and are thus taxed as a capital gain." That is quite incorrect. Excercising an option never triggers a capital gain. Exercising an option is not the same as selling a share. So, to be specific:
a) the difference between strike price and fair market value at the point of exercise is income; and
b) the difference between the value at exercising and selling is capital.

While the net effect to you may be the same as if both were treated as capital, if you file your T1 that way CCRA may crawl up your butt and reside there for awhile.
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Localizer
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Post by Localizer »

Its funny to read this .. talking about making life better for others and all. Its all really sweet ... but you don't mean it. Lets be a "little" honest. Everyone cares about number 1 and thats about it. If you really cared about more that yourselves you wouldn't be fighting your own (Jazz Pilots) for airplanes that bring down your salaries, and you wouldn't be fighting to keep them out of "your" airline.

There is a better flow thru agreement between WestJet and Jazz than LOU-18 would ever allow.

:roll:
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