ASA Annoucement on Tuesday!

[Twinpilot]

55-60 furloughs and 64 displacements.

56 furloughs to be announced Monday. Displacement numbers still undecided.

 

[Texx]

Maybe a LGA base, maybe DTW?

How about we park our butts in your living room in Newnan?

hahahaha

How you been?

 

[JumpersAway]

How do the banks actually "make more long term" by sitting on property they can't sell? What about all the maintenance, property tax, dwindling resale costs? The banks don't want this crap-they sure as hell don't want to repo some craphole in East Point or College Park which can sell for $35K when they were forced (by the Feds) to write $95K in loans on the dump.

-How the heck do you make money on that? Please enlighten me!

Simple- the banks artificially meter the number of houses on the market. The longer they wait, the more things stabilize, and the more they will eventually get out of the houses as the housing market balances out. Maintenance- they're torn up anyway. Regarding the taxes- isn't that a reason so many of the governments are broke- loss of tax money from sources such as property tax, income tax, and sales tax?

Spin it any way you want, but when someone with perfect credit can't get a decent loan for any reasonable amount of money, something is wrong. Especially with the amount of government subsidy they've taken. That's alright- I've found that the smaller, community banks are easier to deal with, and more interested in resuming business.

 

[ace6453]

Well, apparently they called some guys this morning. Effective 9/1.

 

[crj567]

Simple- the banks artificially meter the number of houses on the market. The longer they wait, the more things stabilize, and the more they will eventually get out of the houses as the housing market balances out. Maintenance- they're torn up anyway. Regarding the taxes- isn't that a reason so many of the governments are broke- loss of tax money from sources such as property tax, income tax, and sales tax?

Spin it any way you want, but when someone with perfect credit can't get a decent loan for any reasonable amount of money, something is wrong. Especially with the amount of government subsidy they've taken. That's alright- I've found that the smaller, community banks are easier to deal with, and more interested in resuming business.

There you go!

That is the key! We absolutely agree on that one! Don't even fool with the large banks-they truly are a huge mess. Just stick with the little banks and you will have no trouble. The monster banks are all scumbags-they got into silly stuff over their heads, and many really do deserve to go out of business.

I just believe that the government should stay out of lending practices altogether. If you are gonna say that a bank has to write "x-percent" of loans to members of some minority groups who have crappy credit (they even came up with a harmless-sounding term, "subprime,") who are not even able to document their employment, you are getting on a pretty slippery slope. If the government had just styed out of their business to begin with, we would never have seen anything like the mess we are in!

 

[Speedtape]

Simple- the banks artificially meter the number of houses on the market. The longer they wait, the more things stabilize, and the more they will eventually get out of the houses as the housing market balances out. Maintenance- they're torn up anyway. Regarding the taxes- isn't that a reason so many of the governments are broke- loss of tax money from sources such as property tax, income tax, and sales tax?

Spin it any way you want, but when someone with perfect credit can't get a decent loan for any reasonable amount of money, something is wrong. Especially with the amount of government subsidy they've taken. That's alright- I've found that the smaller, community banks are easier to deal with, and more interested in resuming business.

As someone pointed out earlier, the whole reason we are in this mess is because Barney and Friends forced banks to loan money on mortages to people who couldn't qualify for "You work, You drive" financing. Over several years, it drove real estate prices up, because it created demand. Then, as predictable, most of those "credit risk" borrowers started defaulting on their A.R.M.'s when the the rates increased. In addition, the scammers on Wall Street were selling bad paper to insure these loans. They made their money and ran. When the bottom fell out, large banks were holding worthless paper. Pop-goes-the Weasel. Then the Government bailed out selected financial institutions with your money, which kept the banks from caving and having total financial collapse.

Now, we all pay for it! Even if you have good credit, you will be scrutinized. The consumer will pay for all of the bad lending practices, bad legislation, scam artists, and increased charges that banks have levied. If you owe any money, you are an indentured servant.

The really bad news is, we haven't seen the worst of it, yet!

 

[Cpt Oveur]

Chief Pilots are in progress of calling the 56 pilots not protect by the furlough clause, effective 9/1/2009.

 

[jetracer5]

Chief Pilots are in progress of calling the 56 pilots not protect by the furlough clause, effective 9/1/2009.

Tell me this is not true? Not good at all. I think I am going to take a year leave and start finding a new line of work because this industry has hit rock bottom.

 

[79%N1]

Tell me this is not true? Not good at all. I think I am going to take a year leave and start finding a new line of work because this industry has hit rock bottom.

I wish I could join you, I really do! There is no prospect for upward mobility in the airlines and/or making any kind of decent career wages. The problem now is, there are no jobs out there in this economy and some people can't really go back to school to change professions. People like that are stuck, clinging and hoping things improve in this industry.

Good luck to all................

 

[TOOL CRIB]

Thanks to all the people who picked up open time so they can make payments on their boat. Really appreciate it. Captains included.