General Lee
Well-known member
- Joined
- Aug 24, 2002
- Posts
- 20,442
Denverdude,
You will---don't fall for every gloom and doom article. One thing here that is a constant is cash flow. You need to be able to pay the bills--like all of the gas bills thanks to selling the hedges. We did INCREASE our cash on hand from $1.8 billion to $2 billion (actually $2.3 billion in restricted funds)---and we had a $57 million operating profit for the quarter--which means we MADE $57 million after paying for the bills. But, we obviously have other bills--like debt payments and the like. A lot of the loss was depreciation---of terminals, planes, etc. And, $1.65 billion of the huge $1.96 billion was that paper loss from one week ago. That same paper loss is a "reversable" charge---that can actually help us down the road if we need the eventual write off. So, things do sound bleek--but they are not as bleek as you think. I am sure we will have some huge pay cuts soon (in the 30's%)--and that will help---along with help from creditors and lenders----those lease payments on the planes will have to come down. Also, Grinstein actually now agrees with Dalpa in that EVERYONE should participate---other employees, creditors, vendors, etc.... I think things will get better---but I would like to see lower gas prices!
Bye Bye--General Lee
You will---don't fall for every gloom and doom article. One thing here that is a constant is cash flow. You need to be able to pay the bills--like all of the gas bills thanks to selling the hedges. We did INCREASE our cash on hand from $1.8 billion to $2 billion (actually $2.3 billion in restricted funds)---and we had a $57 million operating profit for the quarter--which means we MADE $57 million after paying for the bills. But, we obviously have other bills--like debt payments and the like. A lot of the loss was depreciation---of terminals, planes, etc. And, $1.65 billion of the huge $1.96 billion was that paper loss from one week ago. That same paper loss is a "reversable" charge---that can actually help us down the road if we need the eventual write off. So, things do sound bleek--but they are not as bleek as you think. I am sure we will have some huge pay cuts soon (in the 30's%)--and that will help---along with help from creditors and lenders----those lease payments on the planes will have to come down. Also, Grinstein actually now agrees with Dalpa in that EVERYONE should participate---other employees, creditors, vendors, etc.... I think things will get better---but I would like to see lower gas prices!
Bye Bye--General Lee
