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Thread: Flow is a good backup. Profit sharing is better.

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    Flow is a good backup. Profit sharing is better.


    0 Not allowed! Not allowed!
    Here is another reason to come to SWA.


    “ By Gary Kelly

    It’s been a year of unprecedented challenges. And, of course, among the biggest challenges is the Boeing 737 MAX groundings. I’m pleased to share with you that we have reached a confidential agreement with Boeing to compensate Southwest for a portion of projected financial damages related to the MAX groundings. While the details of our settlement with Boeing are confidential, I am pleased to share that our Board of Directors has authorized a discretionary, incremental profitsharing award for Employees—estimated at $125 million. This profitsharing award is based on the projected financial damages for annual 2019 due to the MAX groundings, just as if you had earned profitsharing on those projected profits this year. Your efforts have been nothing short of heroic, and on behalf of the Board of Directors, we are grateful for your extraordinary efforts throughout the year and are pleased to share proceeds with you from our recent agreement with Boeing.

    This incremental profitsharing award is in addition to our expected annual 2019 profitsharing accrual and will be funded as part of our profitsharing distribution in 2020, in accordance with our normal ProfitSharing Plan policies and Board of Director approval. We will follow up with the official 2019 profitsharing award early next year, to include details on the final profitsharing dollar amount and percentage every eligible Employee will receive.

    Thank you again for your hard work over a challenging year! “


    Additionally, I’d be off from Dec 19th to Jan 12th without using any vacation if not for a 2day I picked up Dec 21st & 22nd.

  2. #2
    Super Moderator Cujo665's Avatar
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    Quote Originally Posted by RobertRoss View Post
    Here is another reason to come to SWA.


    “ By Gary Kelly

    It’s been a year of unprecedented challenges. And, of course, among the biggest challenges is the Boeing 737 MAX groundings. I’m pleased to share with you that we have reached a confidential agreement with Boeing to compensate Southwest for a portion of projected financial damages related to the MAX groundings. While the details of our settlement with Boeing are confidential, I am pleased to share that our Board of Directors has authorized a discretionary, incremental profitsharing award for Employees—estimated at $125 million. This profitsharing award is based on the projected financial damages for annual 2019 due to the MAX groundings, just as if you had earned profitsharing on those projected profits this year. Your efforts have been nothing short of heroic, and on behalf of the Board of Directors, we are grateful for your extraordinary efforts throughout the year and are pleased to share proceeds with you from our recent agreement with Boeing.

    This incremental profitsharing award is in addition to our expected annual 2019 profitsharing accrual and will be funded as part of our profitsharing distribution in 2020, in accordance with our normal ProfitSharing Plan policies and Board of Director approval. We will follow up with the official 2019 profitsharing award early next year, to include details on the final profitsharing dollar amount and percentage every eligible Employee will receive.

    Thank you again for your hard work over a challenging year! “


    Additionally, I’d be off from Dec 19th to Jan 12th without using any vacation if not for a 2day I picked up Dec 21st & 22nd.
    That’s a good company and fair management. Fairly rare in this industry. Nice to see and I hope it catches on.

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    True profit-sharing is only for management at AA. Not so at Delta, United or Southwest. S.O.P.

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