Delta going bankrupt .... no 911 to blame here !

[stealthycat]

http://money.cnn.com/2004/08/09/news...ex.htm?cnn=yes

Hey VC .... want to explain this away ?

http://www.publiceye.org/frontpage/911/ward.html

( fantastic article BTW )

While we were grieving, airline executives were scheming and pleading. Conveniently neglecting to 1) ask for any assistance for soon-to-be displaced airline workers or 2) mention the business interruption insurance policies the airlines carry, the airlines went to Congress with hat in hand. Led by Continental's Gordon Bethune and Delta's Leo Mullin, the airline lobbyist were at Capital Hill before the blood had dried in New York. Claiming a massive daily loss during the shutdown, airline execs presented themselves as on the brink of insolvency. Years of mismanagement and bloated executive payrolls were set aside. (When asked about business interruption insurance, US Airways spokesman David Castelveter replied "That's something I don't think we would publicly discuss with anyone.")

hmmmmmmmmmmm


And didn't Delta lay off about 15,000 people ? Were they rehired VC ?


How about this ..........


http://www.dot.gov/affairs/carrierpayments.htm

Delta - Total Compensation to Date - $635,733,978.5

Hmmmmmmmm. 3/4 of a billion dollar gift and still Delta finds themselves in a corner of bankruptcy ? maybe we should throw another 750,000 at them huh ? Of course, the CEO's are still pulling in ... what VC, 10-15 million per year each ?

sigh .......


No Great Magical Pendulum of Time can mask whats going on here VC ....... can it ?

[kevin1]

If their employees are smart they'll reject any concession package ,
the company will simply go Chapter 11 after they sign and screw them anyway . Better off looking for another job right now than propping up the executive comp package .

[Frost]

A few days after 9-11, I told several friends of mine that in 10 yrs. or less, the USA would have a Gov. run airline industry like Israel because of the increasing costs of security and reduction in airline travel.

I hope I am not right and I don't like the possibilty of Gov. intervention But I truly believe it will happen tis way eventually for good or ill.

This Delta thing is simply a sign of things to come.

[stealthycat]

VC ................ oh VC111 ............. where art thou Oh Swampmonster ??

[vc1111]

Honky.

[vc1111 jr.]

A very good question Mr. Cat

Daddy, would you care to answer Mr. Cat ? He's really got some good points on this issue ...........

[stleathycat]

It would appear that Delta was in upheaval long before the dreaded 911 attacks. Rumor has it that morale had been going down for up to 7 years, since the introduction of homosexuals in the upper ranks of management. Similarly, the hiring of many adolescent women, of questionable repute, had further eroded the underpinings of the airline companies,...like Delta.
Therefore....I take back anything I've previously said.... about anything.