Delta's Balance Sheet

[Old School]

Im not a CPA, but I did stay at a Holiday Inn Express last night where I was looking at Delta's Balance Sheet. After emerging from BK on Apr 30,2007 Delta gave themselves a 13 Billion asset which did not exist. They labeled it GOODWILL. Then last quarter, they reduced this fictitious entry on their books by over 6 Billion. By the way, Delta's worth less than 2 Billion and rejected a buyout last year for more than 10 Billion. I think their abacus is missing a few beads.

 

[Papa Woody]

I think their abacus is missing a few beads.

Mmm Hmm...as in....a couple of french fries short of a Happy Meal

 

[ACL65PILOT]

The goodwill write off was for the difference in actual stock value versus stated value.
NWA and DAL did the same thing last quarter. It is basically required for the SEC before a merger.

 

[General Lee]

Im not a CPA, but I did stay at a Holiday Inn Express last night where I was looking at Delta's Balance Sheet. After emerging from BK on Apr 30,2007 Delta gave themselves a 13 Billion asset which did not exist. They labeled it GOODWILL. Then last quarter, they reduced this fictitious entry on their books by over 6 Billion. By the way, Delta's worth less than 2 Billion and rejected a buyout last year for more than 10 Billion. I think their abacus is missing a few beads.

After merging with NWA, we will have $6 billion in cash, and another $1 billion in revolving credit. That should give us enough cash to ride out the high fuel storm while others unfortunately go away, leaving more space for us to grow eventually. You probably do stay at a lot of Holiday Inn Expresses. Good for you.


Bye Bye--General Lee

 

[skywav8r]

With all this cash, and our new friends from some butt-azz cold bases, maybe we could get some good junior hockey here in Atlanta. Sometimes I miss skating in my backyard in Edmonton. Not like that could ever happen here in Hotlanta. The only backyard ice falls from huge t-storms and dents my car. At least I can pick it up and put it in my rum n coke! Here's to a successful and profitable future and NO furloughs. glug glug glug...aaahhhhh


yup...drinking and posting....glug glug glug...aahhhh

 

[Old School]

The goodwill write off was for the difference in actual stock value versus stated value.
NWA and DAL did the same thing last quarter. It is basically required for the SEC before a merger.




The only problem is that Delta wrote off 6 Billion and their entire market cap is under 2 Billion hence the missing beads on their abacus...