Gloating? Not me. I'm having a hard enough time just keeping my head above water as I paddle around the pool. And obviously guys like you and Huck have a better idea of what is going on within the company than those of us bobbing around waiting for our turn, but....I don't think it is a secret that airlines like USAir, United, and in some respects American, were heading into trouble before Sept 11. If I remember correctly, Northwest was the only major still hiring, and they were already curtailing training dates. Sept 11 just accelerated a process that had already begun. Obviously, even SWA and JetBlue aren't above financial difficulties, but I think they've set a model that the other major airlines are going to have to study if they want to make a move back into the black.
Now, with regard to FedEx...1st quarter net profits rise 45% and their stock is upgraded to a strong buy by almost every analyst that covers them. Most of the increase in profit has come as a result of ground shipping, but projections are air cargo is the fastest (only?) growing segment of the airline industry and Boeing projects it will triple in the next 20 years. I have obviously had absolutely nothing to do with any of that, but I do rest easy in the knowledge that FedEx is probably not feeling a huge pinch from any slowdown in the economy. In fact, just the opposite appears to be the case. That was the gist of my point to Huck. Nothing more.
With regard to your comments about contracts and unions, powerful unions are a wonderful thing for union members employed by a strong company, but a quick look at United reveals the result of pathetic management and aggressive union bosses all seeking competing goals. At the rate the pool is draining, (and with my timing with Guard obligations) I may still be in the pool while the next FedEx contract is negotiated. If so, I hope it is negotiated with both the interests of the pilots and company in mind. I work with a bunch of guys furloughed from other airlines, that are more concerned about their airlines survival than that 20% pay raise they just achieved.
Now, with regard to FedEx...1st quarter net profits rise 45% and their stock is upgraded to a strong buy by almost every analyst that covers them. Most of the increase in profit has come as a result of ground shipping, but projections are air cargo is the fastest (only?) growing segment of the airline industry and Boeing projects it will triple in the next 20 years. I have obviously had absolutely nothing to do with any of that, but I do rest easy in the knowledge that FedEx is probably not feeling a huge pinch from any slowdown in the economy. In fact, just the opposite appears to be the case. That was the gist of my point to Huck. Nothing more.
With regard to your comments about contracts and unions, powerful unions are a wonderful thing for union members employed by a strong company, but a quick look at United reveals the result of pathetic management and aggressive union bosses all seeking competing goals. At the rate the pool is draining, (and with my timing with Guard obligations) I may still be in the pool while the next FedEx contract is negotiated. If so, I hope it is negotiated with both the interests of the pilots and company in mind. I work with a bunch of guys furloughed from other airlines, that are more concerned about their airlines survival than that 20% pay raise they just achieved.
