any new rumors of furloughs at any of the fracs?

[gunfyter]

But yeah, you're right, it's all the fault of the subprime borrower.

No. its the fault of Barney Frank and the Dems who forced banks to lend to the uncreditworthy...

Saturday Night Live -- very funny
THE FORBIDDEN Saturday Night Live SKIT

SNL did a "Bailout" skit, which has created some rather awkward problems for NBC. They spiked the video and tried to shut it down on the Internet. But aha, there's still some sites that have it.

http://msunderestimated.com/SNLBailoutSkit.wmv

 

[Nolife]

Funny ass skit.

Now back to the thread title. I hear more reductions at Flex. Anyone else have a take?

 

[exagony]

where'd u hear that?

 

[Nolife]

Word around the camp fire is anywhere from 20-70 more pilots. Hope it is all rumor but seeing how much red was bled before the first round I wouldn't be surprised to see it happen.

I hope for a speedy economic recovery but like my Grandma always said, "hope in one hand and crap in the other and see which fills up first."

 

[ArtVandalay]

Word around the camp fire is anywhere from 20-70 more pilots. Hope it is all rumor but seeing how much red was bled before the first round I wouldn't be surprised to see it happen.

I hope for a speedy economic recovery but like my Grandma always said, "hope in one hand and crap in the other and see which fills up first."

What "red" are you referring to? Flex is making profit right now.

 

[Nolife]

What "red" are you referring to? Flex is making profit right now.

That is the point my friend. Word from the man in charge was that lay offs were going to be a last ditch effort and would only be implemented after bleeding red for a while; then some one in the room farted and 25 pilots went home. What gives?

 

[EatSleepFly]

disregard

 

[blueridge71]

You don't read the financial press, do you? Gutting of the Glass-Steagall act allowed banks to become investment banks (and vice-versa), who then leveraged themselves upwards of 40:1. That is, they borrowed $40 for speculative investments for every dollar they had on deposit.

JP Morgan, for example have over $97 TRILLION in derivatives exposure. Citibank more than $40 TRILLION.

But yeah, you're right, it's all the fault of the subprime borrower.

It wasn't the fact that they were investing; the problem was that they were leveraged 40:1.

Europe has managed very well thank you without a Glass - Steagall of their own.

 

[DAS at 10/250]

Blueridge71;

Love the avatar!!!!!!!!!