F9,
what part of the post you cited was incorrect? The "codename" part? The matching of FRNT fares? Why do you think FRNT keeps "cutting" fares? benevolence? or maybe a dent in earnings is already underway? Your yield plummeted, and TED hasn't even started yet.
As to UAL's Cash position. 2.4 BILLION while paying down DIP loans... Yeah that sucks.
Will they meet Feb Dip? Don't know, I honestly thought Dec would be missed. If they do miss it, will it be the end? NO.
Extension of BK. U left BK too soon, under pressure from it's CC processor. Didn't get the lease rates beat down enough. UAL even considered leaving before the end of 2003. Why? They thought they'd miss DIP and be forced to. The fact they are seeking to extend BK means they think they can drive costs EVEN LOWER. That sucks for employees, but not for the long term viability of the francise.
"Doesn't UAL outsource a bunch of their MX now? So that is just setting them up for a crash? I truly hope not!"
UAL still outsources much less than the rest of the industry. In the past UAL did almost ALL MX in house. Safety DOES suffer when MX goes outside. Will it cause an accident? I hope not. In the case of VJ, they not only outsourced, the outsourcers outsourced and then the outsourced oursources outsourced. They had guys who could read write or even understand english pulling the O2 gens off MD-80's, UNDER CONTRACT AND AT THE DIRECTION OF VJ. The FO signed off on the illegal (EVEN IF THEY WERE EMPTY) cargo. They thought it was just an electrical problem at first. Why? that same jet had been popping CB's all day (and they were just reset over and over and over, with no corrective action)
Dave,
re past business ventures: They came from the days of more cash than the company knew what to do with. UAL has handed out on the order of 4 BILLION in dividends in the last 20 years. I'll agree that BIG mistakes were made. That should have been plowed back into the core business. No argument here.
"Once again management strays from the core business and tries to reinvent Shuttle."
The core busness is flying pax from point A to point B. Did SWA "stray" when they started transcons? When they went into MDW? BWI? PHL? every crazy idea out there is a failure until it suceeds.
"I remember UAL folks telling me how SWA was going to be put out of business."
And UAL's wages went up, while SWA took a five year pay freeze. Arguably the diff was WAGES. You no longer have that advantage. SWA proved that you can pay guys less, work them more and they will gladly do it for a few stock options. That gave other, arguably less scupilous CEO's an example to point to. "If only you guys will work for X, we can do what SWA did and you wil get rich on stock". SWA created that ponzi scheme, and industry wages will never again be the same. As a matter of fact, SWA will be the leader soon and the stock options you rely on to "make up the differance" will become worthless.
RE SWA retirement:
Funny, I have two retirement plans. One is pilot directed CASH. 9%. The other is a federally insured A-plan. The cumulative cost of both is about 20% of wages. I don't have to match anything (ie, the company can't save money by paying me so little I can't afford to contribute, so no match) Your's?
In any case, SWA was not mentioned until NTSing decided he needed to cock off about something he has a feeble understanding of.
Oh and Falcon Jet, econ 101 was about 20-30 econ classes ago. You? That was probably the highest level you achieved. College? Otherwise you wouldn't be a "wanna be" in a falcon
what part of the post you cited was incorrect? The "codename" part? The matching of FRNT fares? Why do you think FRNT keeps "cutting" fares? benevolence? or maybe a dent in earnings is already underway? Your yield plummeted, and TED hasn't even started yet.
As to UAL's Cash position. 2.4 BILLION while paying down DIP loans... Yeah that sucks.
Will they meet Feb Dip? Don't know, I honestly thought Dec would be missed. If they do miss it, will it be the end? NO.
Extension of BK. U left BK too soon, under pressure from it's CC processor. Didn't get the lease rates beat down enough. UAL even considered leaving before the end of 2003. Why? They thought they'd miss DIP and be forced to. The fact they are seeking to extend BK means they think they can drive costs EVEN LOWER. That sucks for employees, but not for the long term viability of the francise.
"Doesn't UAL outsource a bunch of their MX now? So that is just setting them up for a crash? I truly hope not!"
UAL still outsources much less than the rest of the industry. In the past UAL did almost ALL MX in house. Safety DOES suffer when MX goes outside. Will it cause an accident? I hope not. In the case of VJ, they not only outsourced, the outsourcers outsourced and then the outsourced oursources outsourced. They had guys who could read write or even understand english pulling the O2 gens off MD-80's, UNDER CONTRACT AND AT THE DIRECTION OF VJ. The FO signed off on the illegal (EVEN IF THEY WERE EMPTY) cargo. They thought it was just an electrical problem at first. Why? that same jet had been popping CB's all day (and they were just reset over and over and over, with no corrective action)
Dave,
re past business ventures: They came from the days of more cash than the company knew what to do with. UAL has handed out on the order of 4 BILLION in dividends in the last 20 years. I'll agree that BIG mistakes were made. That should have been plowed back into the core business. No argument here.
"Once again management strays from the core business and tries to reinvent Shuttle."
The core busness is flying pax from point A to point B. Did SWA "stray" when they started transcons? When they went into MDW? BWI? PHL? every crazy idea out there is a failure until it suceeds.
"I remember UAL folks telling me how SWA was going to be put out of business."
And UAL's wages went up, while SWA took a five year pay freeze. Arguably the diff was WAGES. You no longer have that advantage. SWA proved that you can pay guys less, work them more and they will gladly do it for a few stock options. That gave other, arguably less scupilous CEO's an example to point to. "If only you guys will work for X, we can do what SWA did and you wil get rich on stock". SWA created that ponzi scheme, and industry wages will never again be the same. As a matter of fact, SWA will be the leader soon and the stock options you rely on to "make up the differance" will become worthless.
RE SWA retirement:
Funny, I have two retirement plans. One is pilot directed CASH. 9%. The other is a federally insured A-plan. The cumulative cost of both is about 20% of wages. I don't have to match anything (ie, the company can't save money by paying me so little I can't afford to contribute, so no match) Your's?
In any case, SWA was not mentioned until NTSing decided he needed to cock off about something he has a feeble understanding of.
Oh and Falcon Jet, econ 101 was about 20-30 econ classes ago. You? That was probably the highest level you achieved. College? Otherwise you wouldn't be a "wanna be" in a falcon
