AS 421 SMF-SEA on 12/2 was overbooked by 34 passengers when I checked in. Alaska was offering a free R/T coach ticket good anywhere AS flies; non-Sacramento pax were also given a night at the Doubletree Hotel near Arden Fair Mall.
The friendly check-in agent told me that "Alaska reservations does this to us EVERY YEAR". (Hmmm....I'll have to remember this!) And SMF-SEA was so overbooked for the next couple of days that some pax would roll over all the way to 12/5, collecting free tickets for each bump.
I didn't take the deal as I needed to be in SEA for a meeting the next morning and there were no other flights (on any carrier) available leaving SMF that night that I could be protected on.