Delta...New Lows

[Tim47SIP]

Skips gone?

....and some of Delta's fair haired managers who went to the Connection lifeboat are scrambling for the exits. Skip Barnette left ASA for Caribbean Star, a Dash 8 operator with 80 flights a day to 13 destinations....

This may be because he might not have a job in the near future and knows it. If we are sold, it makes sense. Things are only going to get worse, not better. Hold on for the ride!

 

[Mikes Apartment]

I don't blame Barnett for leaving ASA, he doesn't want to move to St George. I would rather live in San Juan anyday. And those Delta pilots would have to get something unbreakable in court to give it up, and that doesn't sound like it could happen. I would be really nervous too if I were a Comair or ASA pilot, because in court their contracts will be looked at too, along with the Delta guys. Everyone will share in the pain.


And Flying Freddie seems to love bad news about Delta. He was turned down and now has a chub everytime there is bad news. Pathetic. Peace out.

 

[Green]

I think one of the changes to the Bk laws will be to prohibit companies from paying retention bonuses to executives unless they can prove that they have recieved a bona fide job offer from another company. Now you can see why dal would scramble to file.

 

[densoo]

STREET LIFE
Oil Barrels Past $65
With fuel costs continuing to spike, four of the major U.S. carriers could be in Chapter 11 by the fall.
FORTUNE
Thursday, August 11, 2005
By Andy Serwer

"I say after August, Delta goes Chapter 11...Almost certainly Independence Air will too, in fact it will probably liquidate. This discount carrier was founded only 14 months ago and flies out of Dulles. Used to be ACA....Northwest too is in very bad shape. So what happens if by October we have United and US Air, plus Delta, Northwest and Independence all bankrupt? That represents between one quarter and one third of total carrier capacity in the U.S! Hello Washington, we have a problem!"

http://www.fortune.com/fortune/streetlife/0,15704,1092401,00.html?promoid=yahoo

 

[skykid]

I think one of the changes to the Bk laws will be to prohibit companies from paying retention bonuses to executives unless they can prove that they have recieved a bona fide job offer from another company. Now you can see why dal would scramble to file.

Yep, the biggest change though is going to be the amount of time allowed to reorganize. For a company as complex as Delta, for example, that has hundreds of aircraft of different types operating in dozens of countries, 10s of thousands of employees all over the world, and such a complicated balance sheet, you are not going to get it done in ch11 in 1 year, or even 2. So you either perform a miracle, get part of the job done and come out incomplete (U and CAL), or liquidate. A much better option would be to get in ch11 before the laws change. I'm hoping the price of fuel can go dramatically in the other direction, so Delta and Northwest get a major repreive.

By far the scariest thing going right now is the labor relations at Northwest. Good luck guys.

 

[jetflyer]

What is going to happen when OIL goes to $100-200/barrel??

Listen to the MOST IMPORTANT THING that will concern OUR AIRLINES and OUR WORLD in the near FUTURE BELOW:

From "The Financial Sense Newshour with Jim Puplava":
http://www.netcastdaily.com/fsnewshour.htm

Select an Audio Format below to listen to Matthew Simmons, a TEXAS OIL MAN and advisor to the Bush Administration on the Energy Policy, talk about OIL SUPPLY Problems from Saudi Arabia and the world. (PEAK OIL)
[font=arial,helvetica,verdana]LISTEN TO THE[/font]
[font=arial,helvetica,verdana]2nd Hour Guest Expert
[/font][font=Arial,Helvetica,Verdana]Matthew Simmons, Chairman
Simmons & Company International
and author of "Twilight in the Desert:
The Coming Saudi Oil Shock and the World Economy"[/font]
Select an Audio Format to listen:[font=Arial,Helvetica,Verdana]
RealPlayer l WinAmp l Windows Media l mp3

Listening to these economists talk about PEAK OIL and the coming ENERGY CRISIS is very interesting.

LISTEN TO THE

[font=Arial,Helvetica,Verdana]3rd Hour with Jim & John​

The Big Picture [/font]
[font=Arial,Helvetica,Verdana]--Energy Tsunami Hitting Globally by Quarter 4
[/font][font=Arial,Helvetica,Verdana]--The Geopolitical Aspects of Oil
[/font][font=Arial,Helvetica,Verdana]--China and the Next Commodity Bull Run[/font]
[font=tahoma,verdana,arial]Select an Audio Format to listen:[/font]
[font=Arial,Helvetica,Verdana]RealPlayer l WinAmp l Windows Media l mp3[/font]

[font=Arial,Helvetica,Verdana]"CHANGES ARE COMING"[/font]

[font=Arial,Helvetica,Verdana]Jet
[/font]

[/font]

 

[General Lee]

Jet,


Come on now, at even $100 a barrel most economies will shut down, and then oil supplies will increase. There will be a point where the price stops and then retreats. $200 a barrel is ridiculous. Even $100. You are whipping yourself into a frenzy.


Bye Bye--General Lee

 

[jetflyer]

Listen to the show.

$65 oil is not decreasing demand. Supply is about to have major problems. Listen to the show. If Supply goes down, so must DEMAND THROUGH HIGHER PRICES. Oil prices will go as high as it takes to not only stop Demand Increases but after about 2007-8, they're going to have to go high enough to REDUCE DEMAND permanently more and more every year and that will probably mean reducing the size of the economy through a recession in the process.

$100-200/barrel WILL happen in atleast the next 5 years. I think sooner, from the research I've done.

Alaskan Oil, the Oil Sands, Coal gassification, Use of the Oil-shale from Colorado, Bio-fuels, Nuclear, Hybrids, and other alternatives are all going to have to be used. They will take time to ramp up though. In the mean time here comes the higher oil prices.

Denial is wonderful, normal and everyone's first instinct(was mine 3 months ago when I learned of peak oil) but isn't going to help you General.

All of you reading this do yourselves a favor and educate yourselves on this subject. Make up your own minds what will happen with OIL. First listen to the above show I linked, and then google PEAK OIL. Do your own research. They've even been talking about PEAK OIL in Congress.

There are also about 10 books on the subject out there. Do a search on Amazon.com. I've read two and just bought my third.

Jet

 

[jetflyer]

Roscoe Bartlett, Republican Congressman from Maryland just gave a new speech to Congress, broadcast on C-SPAN on July 19, 2005 about COMING OIL SUPPLY PROBLEMS(PEAK OIL).

Here is the transcript. I highly recommend you all read it:
http://www.xecu.net/thorn/PO/PO-July19-2005.html

April 19th Bartlett gave this speech to congress. This is a good speech to read, with visuals.
http://www.bartlett.house.gov/SupportingFiles/documents/energyspeech.pdf

Roscoe Bartlett met with Bush about Peak Oil on June 29th. So Bush, no doubt knows about the coming oil supply problems. Here is the press release:
http://www.bartlett.house.gov/latestnews.asp?ARTICLE2900=7308

BARTLETT, regarded as one of the most CONSERVATIVE republicans in the House, strangely drives a PRIUS and DOES NOT BELIEVE WE SHOULD DRILL IN ANWAR. He thinks we should leave that oil for future generations that will be in need of cheap energy. I think we should drill ANWAR ASAP.

Bartlett thinks we should begin to "get off oil" NOW. His speeches to congress on OIL SUPPLY PROBLEMS are great reads.

Jet

 

[Prog 2/2]

STREET LIFE
Oil Barrels Past $65
With fuel costs continuing to spike, four of the major U.S. carriers could be in Chapter 11 by the fall.
FORTUNE
Thursday, August 11, 2005
By Andy Serwer

"I say after August, Delta goes Chapter 11...Almost certainly Independence Air will too, in fact it will probably liquidate. This discount carrier was founded only 14 months ago and flies out of Dulles. Used to be ACA....Northwest too is in very bad shape. So what happens if by October we have United and US Air, plus Delta, Northwest and Independence all bankrupt? That represents between one quarter and one third of total carrier capacity in the U.S! Hello Washington, we have a problem!"

http://www.fortune.com/fortune/streetlife/0,15704,1092401,00.html?promoid=yahoo

Man, I'm just glad the administration was able to ramrod through all those tax breaks for the oil companies. If they don't deserve the governments help, who does ?