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Bush kills Airnet, celebrates Ramadan...
- Thread starter Vladimir Lenin
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Gulfstream 200
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bart
Decader
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Nice malicious joke bolshevik. I like your nickname, brings back nostalgic memories of the murders of millions in the name of the revolution.
I guess we should go back to riding horses and put all those blacksmiths back to work... and go back to flying Ford Tri-Motors - that way every one would have a flying job and we would all build great time and experience every leg.
If AirNet is a resourceful and competitive company, which I believe they are, they will find a way to continue operations. If they don't, then out of the gene pool. It certainly should not come as a surprise to their management team, as this has been talked about for over ten years.
I guess we should go back to riding horses and put all those blacksmiths back to work... and go back to flying Ford Tri-Motors - that way every one would have a flying job and we would all build great time and experience every leg.
If AirNet is a resourceful and competitive company, which I believe they are, they will find a way to continue operations. If they don't, then out of the gene pool. It certainly should not come as a surprise to their management team, as this has been talked about for over ten years.
flywithastick
Member is: ready
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Typewriter company profits fall!!
"Layoffs expected at some of the nations largest producers of typewriters." "The newly developed personal computers to blame", experts believe.
"Applecarts and blood letting tool company stocks falling as well!" "This is not a good time to be buying these stocks" some analysts say. "Apparently the demand for Applecarts and sophisticated bloodletting tools is dropping off these days."
Me thinks someone, aside from having to deal with some serious teenage angst, is a little chapped that the world is turning away from the promised $300,000/yr big fat airline careers that someone's daddy enjoyed.
"Layoffs expected at some of the nations largest producers of typewriters." "The newly developed personal computers to blame", experts believe.
"Applecarts and blood letting tool company stocks falling as well!" "This is not a good time to be buying these stocks" some analysts say. "Apparently the demand for Applecarts and sophisticated bloodletting tools is dropping off these days."
Me thinks someone, aside from having to deal with some serious teenage angst, is a little chapped that the world is turning away from the promised $300,000/yr big fat airline careers that someone's daddy enjoyed.
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Lindy
Well-known member
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Who Writes Checks Anymore?
Let's see....
Every business in this country still writes checks.
I think the discussion shouldn't be limited to personal checks, but every check written. I currently fly checks. Many of the checks which we fly every night are not personal checks, but "other" checks, i.e., business checks to vendors, payroll checks, etc.
There are millions of small business in this country that utilize checks for payroll, vendors, utility bills, etc.
There is a very large amount of population that prefers to write checks. Not everyone is as adept as balancing a checkbook using the automatic debit receipts. Many like to have their "check" as the receipt (if you are a consumer you have noticed that many of the receipts printed fade after several months).
And, there are some places where you need to write a check (i.e., my storage unit -- in a different town -- doesn't take direct debits. My options are cash in the mail (not very bright), personal check, or a money order (why instigate the hassle)).
The act doesn't disallow the usage of writing checks, just your ability to receive your original check back and to dispute a problem. (READ the language, if you have voluntary truncation, which the consumer does not have any choice, then banks do not have any time frame to rectify/resolve any discrepencies. The "ONE DAY" restitution is only for involuntary truncation, which, is at the option of the bank).
Another issue is fraud. If checks are written fraudently, it will be extremely difficult to defend against. Anyone see "Catch Me If You Can"? YOU (as a small business, individual, etc), may not ever be able to see the fraudulent check written and contest the legality, i.e., signature, etc. You will be able to see an electronic copy, which is a legal equivalent of a check, but it will not have much end-use IMHO.
Flying checks may be antiquated, but it is efficient (but for 09-11 and very severe weather delays) and LESS EXPENSIVE than the "new" technololgy. Maybe over time the costs will meet, but this new law will be costing the consumer (banks will not "eat" the costs). I would not be surprised to see new banking fees as a result of the electronic processisng.
There are issues, as with anything "NEW" until the processes are tested, repeated, and accepted. In the banking world, 28 Oct 2004 will be a day that will be historic. (The actual effective date of the "Check 21" as the new law has been dubbed.)
Let's see....
Every business in this country still writes checks.
I think the discussion shouldn't be limited to personal checks, but every check written. I currently fly checks. Many of the checks which we fly every night are not personal checks, but "other" checks, i.e., business checks to vendors, payroll checks, etc.
There are millions of small business in this country that utilize checks for payroll, vendors, utility bills, etc.
There is a very large amount of population that prefers to write checks. Not everyone is as adept as balancing a checkbook using the automatic debit receipts. Many like to have their "check" as the receipt (if you are a consumer you have noticed that many of the receipts printed fade after several months).
And, there are some places where you need to write a check (i.e., my storage unit -- in a different town -- doesn't take direct debits. My options are cash in the mail (not very bright), personal check, or a money order (why instigate the hassle)).
The act doesn't disallow the usage of writing checks, just your ability to receive your original check back and to dispute a problem. (READ the language, if you have voluntary truncation, which the consumer does not have any choice, then banks do not have any time frame to rectify/resolve any discrepencies. The "ONE DAY" restitution is only for involuntary truncation, which, is at the option of the bank).
Another issue is fraud. If checks are written fraudently, it will be extremely difficult to defend against. Anyone see "Catch Me If You Can"? YOU (as a small business, individual, etc), may not ever be able to see the fraudulent check written and contest the legality, i.e., signature, etc. You will be able to see an electronic copy, which is a legal equivalent of a check, but it will not have much end-use IMHO.
Flying checks may be antiquated, but it is efficient (but for 09-11 and very severe weather delays) and LESS EXPENSIVE than the "new" technololgy. Maybe over time the costs will meet, but this new law will be costing the consumer (banks will not "eat" the costs). I would not be surprised to see new banking fees as a result of the electronic processisng.
There are issues, as with anything "NEW" until the processes are tested, repeated, and accepted. In the banking world, 28 Oct 2004 will be a day that will be historic. (The actual effective date of the "Check 21" as the new law has been dubbed.)
Typhoon1244
Member in Good Standing
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SDF2BUF2MCO
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This will be straying a bit from the original topic but FurloughGal brought up some interesting points. Checks will be around but the wave is clearly electronic transactions. Speculate the banks want to get rid of all paper transactions (including money). They'll be able to save on handling costs. In addition, they will probably not have as many physical banks. They'll save a ton of money on overhead, etc.
We keep finding ways to avoid human interaction. The other day I was going to PHL and the ticket agent was pushing me to check in on the KIOSK (??). Everyone else I've flown pushes it too. I told him this machine is going to put him out of a job. He replied, not in my lifetime. I replied, maybe not yours but the next generation's. From a business perspective it makes great sense. From a human interaction perspective (as well as a loss of jobs eventually), it stinks. Oh well, there's always gubernment work.
Now on to one person cockpits and eventually no person cockpits....
We keep finding ways to avoid human interaction. The other day I was going to PHL and the ticket agent was pushing me to check in on the KIOSK (??). Everyone else I've flown pushes it too. I told him this machine is going to put him out of a job. He replied, not in my lifetime. I replied, maybe not yours but the next generation's. From a business perspective it makes great sense. From a human interaction perspective (as well as a loss of jobs eventually), it stinks. Oh well, there's always gubernment work.
Now on to one person cockpits and eventually no person cockpits....
metrodriver
No jobs anymore in here??
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- 492
Maybe the banks are finally catching up with the rest of the world? I have seen the european system where you never get a check back and the money is electronically transfered, has been this way for at least the last 20 years. If you need to send someone money you fill out a little paper slip with your and the recipients bank account#, drop it in the bank's mailbox and everything goes automatically from there, no checks to mail.
Utility bills are either automatically withdrawn, or you get a preprinted form on which you have to put your signature and bank account # and you drop that in the mailbox at your bank. Checks are very outdated, almost nobody uses them anymore, yet the use of credit cards is not so widespread as in the US, people use thier bankcard more (like a debitcard, immediate money transfer) or use the chipreaders (ever wondered what those copper strips are for on the left side of some bank / credit cards?). You go to your bank and charge a cetain amount onto the chip, and stores, waitresses, parking meters etc withdraw the amount due. When your card is empty, you will have to recharge your card again. This system is safer than cash or credit card since you have normally only small amounts on this card. If you lose it or it gets stolen, it will not make a big dent in your wallet if it is fraudulently used.
There are no more stolen checks either, or checks that bounce which makes the system safer and cheaper. Banks already are able to wire money, if they adjust their computer systems to accept each others systems a lot more transactions can happen at a lot cheaper rate and safer than the whole check writing thing that happens now. Payrol checks? How about automatic deposit? Now all I need to see is a statement every week or every 2 weeks and I can see that the money is there. No more standing in line at the bank, misplacing a check or the check getting lost / stolen on the way to your mailbox.
It will be a bad day for the small freight carriers in this country, but it will save the economy a lot of money when that checkflying and processing will seize.
Utility bills are either automatically withdrawn, or you get a preprinted form on which you have to put your signature and bank account # and you drop that in the mailbox at your bank. Checks are very outdated, almost nobody uses them anymore, yet the use of credit cards is not so widespread as in the US, people use thier bankcard more (like a debitcard, immediate money transfer) or use the chipreaders (ever wondered what those copper strips are for on the left side of some bank / credit cards?). You go to your bank and charge a cetain amount onto the chip, and stores, waitresses, parking meters etc withdraw the amount due. When your card is empty, you will have to recharge your card again. This system is safer than cash or credit card since you have normally only small amounts on this card. If you lose it or it gets stolen, it will not make a big dent in your wallet if it is fraudulently used.
There are no more stolen checks either, or checks that bounce which makes the system safer and cheaper. Banks already are able to wire money, if they adjust their computer systems to accept each others systems a lot more transactions can happen at a lot cheaper rate and safer than the whole check writing thing that happens now. Payrol checks? How about automatic deposit? Now all I need to see is a statement every week or every 2 weeks and I can see that the money is there. No more standing in line at the bank, misplacing a check or the check getting lost / stolen on the way to your mailbox.
It will be a bad day for the small freight carriers in this country, but it will save the economy a lot of money when that checkflying and processing will seize.
ACWild
Well-known member
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- 396
I remember interviewing with Airnet (U. S. Check back then) in '93. I asked the chief pilot what he thought about electronic checking and he replied that they would welcome it as they have too much business already. That was enough to scare me away. What kind of business would welcome an elimination of their lifeline?
Actually, the other thing that drove me away was that they wanted me to pay for my training which included 10 hours of glider time. I asked why I needed to pay for glider time and the reply was that it would teach me energy management.
Actually, the other thing that drove me away was that they wanted me to pay for my training which included 10 hours of glider time. I asked why I needed to pay for glider time and the reply was that it would teach me energy management.
flywithastick
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A Squared
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>>>>>Flying checks may be antiquated, but it is efficient (but for 09-11 and very severe weather delays) and LESS EXPENSIVE than the "new" technololgy.
Furloughedgal, have you got any facts to support this statement? You can modem a lear full of documents across the country for pennies, it costs thousands of dollars to do it in a Lear. Even allowing for more expensive secure transmissions and such ... I'm having a very difficult time imagining where the cost savings is in flying physical checks is. Remember once the checks have been scanned, there are other cost savings associated with them being in electronic form, not just the transportation costs. Yeah, the banks may have increased exposure to fraud, but do you have figures that show that that additional risk will be more expensive than the savings?
Furloughedgal, have you got any facts to support this statement? You can modem a lear full of documents across the country for pennies, it costs thousands of dollars to do it in a Lear. Even allowing for more expensive secure transmissions and such ... I'm having a very difficult time imagining where the cost savings is in flying physical checks is. Remember once the checks have been scanned, there are other cost savings associated with them being in electronic form, not just the transportation costs. Yeah, the banks may have increased exposure to fraud, but do you have figures that show that that additional risk will be more expensive than the savings?
huncowboy
Well-known member
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- Jun 11, 2003
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- 616
Actually I am from Europe and I don't like the auto transfer funds, or the drop the slip at the Bank. Sorry.
Auto transfer means auto bill and if they manage to make a mistake (which they do) they will over invoice and overdraw you in a heartbeat. Then you have quite a project in front of you to get the $$ back. This is why many people have 2 accounts one with only barely enough money in it (just like checking account here) so companies can't really get your money in case the over bill you.
The drop at the bank method is simply inconvenient IMO.
First the checks seemed weird when I got here, but I would not replace them with anything other than online banking which still has to catch up in most European countries.
Auto transfer means auto bill and if they manage to make a mistake (which they do) they will over invoice and overdraw you in a heartbeat. Then you have quite a project in front of you to get the $$ back. This is why many people have 2 accounts one with only barely enough money in it (just like checking account here) so companies can't really get your money in case the over bill you.
The drop at the bank method is simply inconvenient IMO.
First the checks seemed weird when I got here, but I would not replace them with anything other than online banking which still has to catch up in most European countries.
WrightAvia
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starcheck1
Well-known member
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if you can't fight it....find a way to support it....
AirNet Systems, Inc. Supports Passage of Check Truncation Legislation
October 16, 2003 5:29:00 PM ET
COLUMBUS, Ohio, Oct. 16 /PRNewswire-FirstCall/ -- AirNet Systems, Inc. ANS announced today it is pleased that the check truncation legislation, known as Check 21, has successfully passed both chambers of the U.S. Congress. It will now be forwarded to President Bush to be signed and is expected to be enacted into law.
A key provision of the legislation was recently approved in conference committee. It brings more transparency and disclosure regarding issues of costs and revenue attributable to commercial check transportation. The agreement was reached between AirNet and the Federal Reserve following several months of discussions. Based on this amendment, the Federal Reserve will be required to disclose transportation costs and revenue in its annual report annually for the next 10 years. The effective date of this legislation is twelve months following its enactment into law.
Joe Biggerstaff, Chairman and Chief Executive Officer of AirNet Systems, Inc. stated, "This legislation moves the industry closer to a level playing field for all providers of check transportation. It will treat transportation the same as check collection, which makes the entire payments system more efficient and accountable. We applaud the efforts of those in Congress who insisted on full and fair disclosure of these matters. Additionally, we appreciate the cooperation extended by the Federal Reserve to help resolve important issues in this legislation."
Mr. Biggerstaff added, "The language of this legislation will bring forth new and exciting opportunities for all participants in the nation's payment system. We are aggressively proceeding with implementation of our business strategy and look forward to the enactment of this legislation."
About AirNet Systems, Inc.
AirNet Systems, Inc. is a premier provider of aviation services including time-critical delivery and private passenger charter. AirNet operates AirNet Express, an integrated national air transportation network providing expedited air transportation to banks, medical customers and other time-critical small package shippers in more than 100 cities nationwide. AirNet is committed to safety, security and customer service 3/4 these are the hallmarks of AirNet's success over the last 28 years. The AirNet airline operates more than 120 aircraft, including 36 Learjets, located strategically throughout the United States, flying over half a million miles per week. AirNet's fleet departs most cities several hours after other major package delivery companies. To find out more, visit AirNet's web site at www.airnet.com .
AirNet Systems, Inc. Supports Passage of Check Truncation Legislation
October 16, 2003 5:29:00 PM ET
COLUMBUS, Ohio, Oct. 16 /PRNewswire-FirstCall/ -- AirNet Systems, Inc. ANS announced today it is pleased that the check truncation legislation, known as Check 21, has successfully passed both chambers of the U.S. Congress. It will now be forwarded to President Bush to be signed and is expected to be enacted into law.
A key provision of the legislation was recently approved in conference committee. It brings more transparency and disclosure regarding issues of costs and revenue attributable to commercial check transportation. The agreement was reached between AirNet and the Federal Reserve following several months of discussions. Based on this amendment, the Federal Reserve will be required to disclose transportation costs and revenue in its annual report annually for the next 10 years. The effective date of this legislation is twelve months following its enactment into law.
Joe Biggerstaff, Chairman and Chief Executive Officer of AirNet Systems, Inc. stated, "This legislation moves the industry closer to a level playing field for all providers of check transportation. It will treat transportation the same as check collection, which makes the entire payments system more efficient and accountable. We applaud the efforts of those in Congress who insisted on full and fair disclosure of these matters. Additionally, we appreciate the cooperation extended by the Federal Reserve to help resolve important issues in this legislation."
Mr. Biggerstaff added, "The language of this legislation will bring forth new and exciting opportunities for all participants in the nation's payment system. We are aggressively proceeding with implementation of our business strategy and look forward to the enactment of this legislation."
About AirNet Systems, Inc.
AirNet Systems, Inc. is a premier provider of aviation services including time-critical delivery and private passenger charter. AirNet operates AirNet Express, an integrated national air transportation network providing expedited air transportation to banks, medical customers and other time-critical small package shippers in more than 100 cities nationwide. AirNet is committed to safety, security and customer service 3/4 these are the hallmarks of AirNet's success over the last 28 years. The AirNet airline operates more than 120 aircraft, including 36 Learjets, located strategically throughout the United States, flying over half a million miles per week. AirNet's fleet departs most cities several hours after other major package delivery companies. To find out more, visit AirNet's web site at www.airnet.com .
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