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  "documentTitle": "Southwest Airlines (LUV)",
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  "authorName": "John Pike and Bobby Xu",
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  "notes": "Uses a before-after framing to contrast 2019 performance with 2023/current performance.",
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      "text": "Down >$9,600 Annually",
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      "text": "[2023 profit sharing was] definitely underwhelming. And it's probably going to continue that way for another year or two... We have a little bit of a revenue problem right now, right?... We also have a lot of cost creep on the expense side of the house, right? So in order to have profit sharing, you have to have profits. And so those profits have been shrinking.",
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      "text": "[2023 profit sharing was] definitely underwhelming. And it's probably going to continue that way for another year or two... We have a little bit of a revenue problem right now, right?... We also have a lot of cost creep on the expense side of the house, right? So in order to have profit sharing, you have to have profits. And so those profits have been shrinking. — Southwest Captain Damian Jennette, February 2024",
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      "text": "Source: Company filings, Department of Labor, Bloomberg as of 6/7/2024, SWAPA. Note: Emphasis is added to the quote. (1) Reflects the average decline in value of Southwest shares held by Company retirement plans per participant. Based on average shares held per participant account as of 12/31/2019 and the change in share price from 12/31/2019 to 6/7/2024.",
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      "text": "Southwest's poor financial performance has cost employees tens of thousands of dollars on average due to lower profit sharing and declines in the value of Southwest stock held by retirement plans",
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