U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 02-14-2019, 08:30 PM
 
1,633 posts, read 665,201 times
Reputation: 1413

Advertisements

This will be an especially huge shot in the arm for commerce in Coweta and Fayette Counties, where the vast majority of Delta's employees live and shop.

https://www.bizjournals.com/atlanta/..._news_headline

Quote:
Delta Air Lines is paying 80,000 of its employees roughly $1.3 billion in annual profit sharing, including $456 million to Atlanta employees.

It is the airline's second-largest profit sharing pool since it started five years ago, after payout of $1.5 billion in 2016. Employees will receive a bonus equal to 14 percent of their annual pay.

Announcing the results of its profit share total on Valentine's Day has become an annual tradition for Delta, and 2019 is the fifth-consecutive year Delta's profit sharing exceeded $1 billion.

The profit sharing total is formulated from Delta's 2018 pre-tax income of $5.2 billion, which was a $137 million decrease relative to 2017 as the company overcame approximately 90 percent of the $2 billion increase in fuel expense.

Despite higher fuel costs, Delta Air Lines Inc. (NYSE: DAL) reported revenue gains in nearly every sector in the fourth quarter of 2018 and expects the trend to continue in 2019.

“As we move into 2019, we expect to drive double-digit earnings growth through higher revenues, maintaining a cost trajectory below inflation and the modest benefit from lower fuel costs," Delta CEO Ed Bastian said in a press release.

Over the past five years, Delta has paid out more than $6 billion in employee profit-sharing.

In response to Delta paying $456 million to Atlanta employees, Emory University economist Jeff Rosensweig said the overall economic impact in Atlanta will be greater than $1 billion because of the "multiplier effect."


Rosensweig explained the concept:

“In the ‘multiplier effect,’ the increased income earned by people selling goods and services purchased by Delta employees with their profit sharing payouts is, in turn, spent partly on local products,” Rosensweig said. “Then, the people who sell those products will start a third round of spending, and so on.”

Rosensweig said profit sharing guarantees a large portion of it will go back to the communities where Delta employees live and work. The payout in Atlanta will create roughly 4,000 full and part-time jobs outside of Delta, according to a news release

 
Old 02-14-2019, 09:11 PM
 
51 posts, read 27,872 times
Reputation: 62
Yes there will be lots of new cars and trucks in the company parking lot on Camp Creek after this weekend.
 
Old 02-15-2019, 07:56 AM
 
Location: Kirkwood
22,877 posts, read 16,867,529 times
Reputation: 5178
And they were complaining about losing a jet fuel subsidy?
 
Old 02-15-2019, 08:03 AM
 
1,633 posts, read 665,201 times
Reputation: 1413
Quote:
Originally Posted by cqholt View Post
And they were complaining about losing a jet fuel subsidy?
Who is "they?"

Delta never complained about it.
 
Old 02-15-2019, 08:30 AM
 
Location: Kirkwood
22,877 posts, read 16,867,529 times
Reputation: 5178
Quote:
Originally Posted by citidata18 View Post
Who is "they?"

Delta never complained about it.
I don't agree with our conservative legislators punishing Delta because they ended an NRA discount, but from the looks of their profits it had little effect.
 
Old 02-15-2019, 08:31 AM
 
1,633 posts, read 665,201 times
Reputation: 1413
Quote:
Originally Posted by cqholt View Post
I don't agree with our conservative legislators punishing Delta because they ended an NRA discount, but from the looks of their profits it had little effect.
Right.

So I'm not sure what you meant by "And they were complaining about losing a jet fuel subsidy?" Delta certainly wasn't.
 
Old 02-15-2019, 08:45 AM
 
Location: Kirkwood
22,877 posts, read 16,867,529 times
Reputation: 5178
Quote:
Originally Posted by kagete View Post
Yes there will be lots of new cars and trucks in the company parking lot on Camp Creek after this weekend.
Let's hope the employees use that windfall to pay off debt, save for kid's post-secondary education, or investment for retirement Spending it on a new car is the worst use of this money, at least spending it at a strip club supports independent, small business owners.
 
Old 02-15-2019, 10:44 AM
 
Location: Johns Creek area
9,807 posts, read 8,964,480 times
Reputation: 5326
Quote:
Originally Posted by cqholt View Post
Let's hope the employees use that windfall to pay off debt, save for kid's post-secondary education, or investment for retirement .
Amen! From what I've noticed, when many folks get a bonus they spend it on something not particularly important and don't save it for those things you mentioned.
 
Old 02-17-2019, 09:49 AM
 
1,447 posts, read 2,549,149 times
Reputation: 882
I'm so glad Delta's industry leading and most expensive baggage fees and $200 change fee could be put to such good use. Every time a rep charges me those fees I let them know I'm very happy to contribute to their profit sharing bonus...go out to a nice dinner on me.

They clamped down in the downturn so they could survive. Customers supported them and got them out the mess. Now they do nothing to say thank you except pocket all of the profits vs giving back to the customer. What a great company! And now the CEO is on record as saying he'd like no flights booked with SkyMiles in the future. How do SkyMiles help his bonus?
 
Old 02-17-2019, 09:54 AM
 
15,106 posts, read 27,082,679 times
Reputation: 18484
WIth that much in profits, Delta could make a huge PR win by reducing some baggage fees or something for the customer base.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top