DL expects 70% rise in yearly pretax profit this year---article

[BILL LUMBERG]

Losing money? No.

Massive Debt? Yes.

17.5 Billion debt load immediately after the merger....
going to be 7.5 Billion at the end of 2014.....
It would be fair to say that we are moving in the right direction. 10B paid off in 4 years....

Go ahead and poke holes in it.

 

[HowardBorden]

17.5 Billion debt load immediately after the merger....
going to be 7.5 Billion at the end of 2014.....
It would be fair to say that we are moving in the right direction. 10B paid off in 4 years....

Go ahead and poke holes in it.

OK.

It's the "OFF BALANCE SHEET" debt that is the problem you moron! Delta is boosting its earnings by increasing its expected return on plan assets for its pensions. Currently it is 8.93% up from 8.82% in 2010 which is abnormally high and it is rising while the vast majority of others are falling. Assuming such a high EROPA lowers the amount of money that Delta has to pay into its pensions, lowering the company's expenses and increasing accounting earnings. Delta has pension obligations that exceed their market value by 132%. The problem is entirely fixable, but raising EROPA is worsening the problem not helping it. As of December 31, 2012, Delta's defined benefit pension plans had an estimated benefit obligation of $21.5 billion and were funded through assets with a value of $8.2 billion. Since I'm assuming your math skills are as poor as your ability to read a balance sheet, that is a difference of $13.3 billion of OFF BALANCE SHEET liabilities.

If you don't know how to read a balance sheet that is not my problem. If you want to stick your head in the sand and pretend it's not happening, by all means go right ahead just don't expect me to follow your lead. You clearly have a very active fantasy life and that obviously works for you.

 

[General Lee]

OK.

It's the "OFF BALANCE SHEET" debt that is the problem you moron! Delta is boosting its earnings by increasing its expected return on plan assets for its pensions. Currently it is 8.93% up from 8.82% in 2010 which is abnormally high and it is rising while the vast majority of others are falling. Assuming such a high EROPA lowers the amount of money that Delta has to pay into its pensions, lowering the company's expenses and increasing accounting earnings. Delta has pension obligations that exceed their market value by 132%. The problem is entirely fixable, but raising EROPA is worsening the problem not helping it. As of December 31, 2012, Delta's defined benefit pension plans had an estimated benefit obligation of $21.5j billion and were funded through assets with a value of $8.2 billion. Since I'm assuming your math skills are as poor as your ability to read a balance sheet, that is a difference of $13.3 billion of OFF BALANCE SHEET liabilities.

If you don't know how to read a balance sheet that is not my problem. If you want to stick your head in the sand and pretend it's not happening, by all means go right ahead just don't expect me to follow your lead. You clearly have a very active fantasy life and that obviously works for you.

There he goes again, "Geraldo" looking for Capone's Vault.... I'm so glad you've figured it all out, and Wall St. has it wrong! Every investor, analyst, and DL fan has it wrong, cause Howie has determined that DL will sink again...

In reality, DL makes twice the profit that your airline does, has paid off over $10 billion in debt in 4 years, and at this rate will pay off all debt and pension deficits within ten more years. Howie, stick to six legs a day ending in Harlingen, and keep dreaming...


Bye Bye---General Lee

 

[BILL LUMBERG]

Moron?

Big tough guy behind a keyboard huh?

It's good to debate with someone who knows nothing and makes himself look like the great and powerful Oz with his "off balance sheet" smoke and mirrors. I guess all the "morons" on Wall Street disagree with your stupid comments on an anonymous board...got a look at our stock chart lately?

Tell you what, you earned an ignore from me....too bad your interview didn't go well over here.....

 

[HowardBorden]

tell you what, you earned an ignore from me....

oh the horror!!!

 

[General Lee]

oh the horror!!!

Wow, I thought I was the only one making people use the ignore function. Don't worry Howie, I won't put you on ignore, I enjoy beating you easily in debates. And there is always the LBB fallback that continually brings a smile to my face and a hearty guffaw. Enjoy it Howie, enjoy it.


Bye Bye---General Lee

 

[HowardBorden]

Don't worry Howie, I won't put you on ignore, I enjoy beating you easily in debates.

Yes Glee, you're a master debater! If you don't want to listen to me, listen to Mother Delta:

"Our substantial indebtedness may limit our financial and operating activities and may adversely affect our ability to incur additional debt to fund future needs. We have substantial indebtedness...."

http://www.delta.com/content/dam/del...s_10K_2012.pdf

 

[KarmaPolice]

oh the horror!!!

I'm just Fuc*ing amazed you criticize a US company for having Pension debt towards your neighbors. Seriously. What is wrong with you?

You went to work for a company that literally destroyed pensions industry-wide, among other benefits for your peers. THEN you come online and act like an internet tough guy, bragging and finger pointing that another company still has to honor those agreements? WHY? What does it do for you in your life to act like this? I don't know if I'm more disgusted or amazed that you exist.

 

[canyonblue]

Go to a SWA board and circle jerk all your Herb turd friends.

This is a SWA board you d0uche, exactly why you clowns listen to us.

 

[HowardBorden]

I'm just Fuc*ing amazed you criticize a US company for having Pension debt towards your neighbors. Seriously. What is wrong with you?

You went to work for a company that literally destroyed pensions industry-wide, among other benefits for your peers. THEN you come online and act like an internet tough guy, bragging and finger pointing that another company still has to honor those agreements? WHY? What does it do for you in your life to act like this? I don't know if I'm more disgusted or amazed that you exist.

I'm not criticizing pensions or pension debt, I'm criticizing not adequately funding the obligation during the time of record profits. Maybe 2013 will show a change in the EROPA and big D will go forward instead of backward with regard to pension liabilities.

You're right though sometimes I get a little wrapped around the axle reading the Glee sunshine parade all while taking a dump on my airline. I should just let it go and I will attempt to do that in the future.