How Northwest took over Delta

[General Lee]

So GL - how equal are things really? Common, I know you're all into the always positive for Mother D spin and all, and I respect that, but were you out on extended sick leave from eating bad food at one of those swinging 5 star African resorts when 4Q financials came out?

Delta - 1.4B 4Q loss, 340 M operating loss or 50c/share, much worse than analyst forecast of 34c/share.

SWA - 56M 4Q loss, 61M operating profit or 8c/share, beating analyst forecast or 5c/share.

I'm those facts are quite easily reformatted in the GL spin machine though ...

Ben,

Don't tell me you haven't seen a major shift in profitability here...... Your hedge advantage--GONE. Your FIXED COSTS--(employee costs, airplane costs etc) UP. Your consequtive quarterly profits---GONE. Come on now. Yes, when we lose money over here it generally is a LARGER number than yours, but then again we have a lot more money in the bank than you do. I hope we don't lose it all, but we do have costs with merging airlines (you may have those same costs someday too), and we also had a bad experience with some hedges (like you). Our hedge problem goes away as this year progresses, but your whole deal was to have the hedge advantage and prey on other airlines with lower cost tickets when we were struggling with higher fuel. That advantage is GONE. Time for a rematch.

Bye Bye--General Lee

 

[General Lee]

So, Zero guys at Delta are getting the PBGC guarantee? PBGC guarantee is how much? And what % of NWA pilots have a frozen pension that exceeds the PBGC guarantee? And you got Nothing from DAL for terminating the A-Plan?

Maybe you're Still not talkin slow enough.

Yes, we did get compensated for the loss of our plan, and it was TAXED. What wasn't put into the 06 and 07 401K kettle was taxed at a high rate. And what about those 401Ks? How are they doing these days? I think we would rather of had a monthly check--even a frozen pension. But, we did save our work rules, which you have now too. So, to sum it up, you still have some sort of frozen pension, our work rules, and higher pay. You're welcome. Welcome to LGA.

Bye Bye---General Lee

 

[DTW320]

Yes, we did get compensated for the loss of our plan, and it was TAXED. What wasn't put into the 06 and 07 401K kettle was taxed at a high rate. And what about those 401Ks? How are they doing these days? I think we would rather of had a monthly check--even a frozen pension. But, we did save our work rules, which you have now too. So, to sum it up, you still have some sort of frozen pension, our work rules, and higher pay. You're welcome. Welcome to LGA.

Bye Bye---General Lee

Ahhh.....So..it's NOT true that ZERO Dal guys have at least $1785 month....but then again, YOU did not answer the question about PGBC guarantee did you? You're talking about the pension note.

BTW, my 401k has been in cash for some time now and is doing just fine through all of this. If yours is not, whose fault is that?

Oh, and I would thank you for the work rules if I had them, such as the trip rig that was never intended to be BP5, AND if you had anything to do with me getting them. Since I don't, and you didn't.....

Anyway, happy to be here, even though I'm 10 pounds heavier after picking up my Bag-O-Bling for the Russian zoot suit today.

LGA? Don't get it.

 

[crj567]

read the 8K. You will see a lot different picture.
6.1 BILLION in unrestricted cash to start with.

We will also post horrible numbers next week. Look at the 8K once again.

About 1.221. billion pre tax profit for 09. Base on only a 10% drop in revenue.

Pre-Tax Profit?

Ever take an accounting class? If so, then you know that pre-tax means nothing. Besides, when DAL misses that estimate, the stock will be punished. You can already pick up a share for less than a happy meal. It is gonna look like a steal when it costs less than a gumball. What was the IPO price $20 or so? Happy days-indeed.

What do you really think the 2009 bottom line will look like? Do you think it will beat SWA? If so, you need to seek counseling.

Consider how those INTL routes (which DAL doubled-down on) are tanking very hard right now... There is no way those routes will contribute anything to the bottom line until this recession is over (which will be well after the next election.) Now-who do you think will do worse? SWA or DAL?

Heavy exposure to INTL means heavy expense in exchange for expectations of heavy loads and the associated revenue. At least SWA was smart enough to extend their exposure only to a code-share. Both Europe and Asia are cratering in epic manner, domestic looks bad, but certainly better than INTL now.

There is no question INTL is far more expensive than domestic-a year or two ago, it looked more profitable, but that ain't so anymore.

-Keep whisting past the graveyard..... Check out that canary in the coal mine-looks a little feeble, don't he? Those rose-colored glasses you are sharing with the General will not change the facts.

-Fact is, you are now run by morons-they put too many eggs in the INTL basket, and now they think they can gain ground by destroying AirTran.
-Fact is, these fools on DAL's board are taking a baseball bat to a hornet's nest, and every single one of them on the board will be set for life.
-Fact is every employee at DAL better be worried, because SWA is coming, and no matter what you misinterpret some 8-K to read, SWA will come in and wax your ass.

 

[General Lee]

Ahhh.....So..it's NOT true that ZERO Dal guys have at least $1785 month....but then again, YOU did not answer the question about PGBC guarantee did you? You're talking about the pension note.

BTW, my 401k has been in cash for some time now and is doing just fine through all of this. If yours is not, whose fault is that?

Oh, and I would thank you for the work rules if I had them, such as the trip rig that was never intended to be BP5, AND if you had anything to do with me getting them. Since I don't, and you didn't.....

Anyway, happy to be here, even though I'm 10 pounds heavier after picking up my Bag-O-Bling for the Russian zoot suit today.]



Sounds like you are the next KRAMER from CNBC. Good for you then. I am still in it for the "long term" as Obama says, so it hopefully will all equal out in the end. I did fill my 401K to the max for 06-08, so we'll see how that all pans out.

And, somehow you will be helped out by some of our work rules, like 2 Captains and 2 FOs for ULH flying. We are still getting more widebodies, so you might see that benefit someday.


Bye Bye--General Lee

 

[General Lee]

Pre-Tax Profit?

Ever take an accounting class? If so, then you know that pre-tax means nothing. Besides, when DAL misses that estimate, the stock will be punished. You can already pick up a share for less than a happy meal. It is gonna look like a steal when it costs less than a gumball. What was the IPO price $20 or so? Happy days-indeed.

What do you really think the 2009 bottom line will look like? Do you think it will beat SWA? If so, you need to seek counseling.

Consider how those INTL routes (which DAL doubled-down on) are tanking very hard right now... There is no way those routes will contribute anything to the bottom line until this recession is over (which will be well after the next election.) Now-who do you think will do worse? SWA or DAL?

Heavy exposure to INTL means heavy expense in exchange for expectations of heavy loads and the associated revenue. At least SWA was smart enough to extend their exposure only to a code-share. Both Europe and Asia are cratering in epic manner, domestic looks bad, but certainly better than INTL now.

There is no question INTL is far more expensive than domestic-a year or two ago, it looked more profitable, but that ain't so anymore.

-Keep whisting past the graveyard..... Check out that canary in the coal mine-looks a little feeble, don't he? Those rose-colored glasses you are sharing with the General will not change the facts.

-Fact is, you are now run by morons-they put too many eggs in the INTL basket, and now they think they can gain ground by destroying AirTran.
-Fact is, these fools on DAL's board are taking a baseball bat to a hornet's nest, and every single one of them on the board will be set for life.
-Fact is every employee at DAL better be worried, because SWA is coming, and no matter what you misinterpret some 8-K to read, SWA will come in and wax your ass.

With all of this terrible news coming up, how does it make you feel to work for one of our feeders? You must be pooping your pants daily....

As far as Southwest coming, well, there aint a lot of room to expand at ATL. Even if we gave up NWA's old gates at ATL, there wouldn't be much room to compete. Sure, they could add some flights, but with their lack of a fuel hedge advantage, they would probably charge about the same fares. Now if they add nonstops to Lubbock, Midland, and Harlingen, well, we would lose on those routes.


Bye Bye--General Lee

 

[crj567]

With all of this terrible news coming up, how does it make you feel to work for one of our feeders? You must be pooping your pants daily....

As far as Southwest coming, well, there aint a lot of room to expand at ATL. Even if we gave up NWA's old gates at ATL, there wouldn't be much room to compete. Sure, they could add some flights, but with their lack of a fuel hedge advantage, they would probably charge about the same fares. Now if they add nonstops to Lubbock, Midland, and Harlingen, well, we would lose on those routes.


Bye Bye--General Lee

I suffer no illusions on this one, General... I can find another job, but you should be very concerned about your own well-being.... I have never defined my self worth by my job, and honestly, I think that is one of the saddest things anyone could ever do.

For someone who gets up and toots his own horn all day long and attempts to denegrate everyone and everything that is not Delta Air Lines-you should really prepare.

This is gonna be a tough ride for everyone in an airplane. Obama will wreck our economy, and the survivors will be the ones with the most staying power. In this game, staying power is known as money-and SWA has a lot. DAL does not, especially as fast as those famous INTL routes are burning through the cash.

You better get some perspective, General. Without that big plane and penguin suit, you are going to be in for one hell of an adjustment.

-Don't say you weren't warned, oh master of the fleet.

 

[General Lee]

I suffer no illusions on this one, General... I can find another job, but you should be very concerned about your own well-being.... I have never defined my self worth by my job, and honestly, I think that is one of the saddest things anyone could ever do.

For someone who gets up and toots his own horn all day long and attempts to denegrate everyone and everything that is not Delta Air Lines-you should really prepare.

This is gonna be a tough ride for everyone in an airplane. Obama will wreck our economy, and the survivors will be the ones with the most staying power. In this game, staying power is known as money-and SWA has a lot. DAL does not, especially as fast as those famous INTL routes are burning through the cash.

You better get some perspective, General. Without that big plane and penguin suit, you are going to be in for one hell of an adjustment.

-Don't say you weren't warned, oh master of the fleet.

Sure you can find another job, McD's is around the corner for you. You may not think a flying job defines you, but being a fry cook will "land you the ladies..."

You really think Delta is doomed? Wait, Obama is dooming us? Thanks Rush Limbaugh. This slump in the economy started on Bush's watch. Are you nuts? (sorry, let me retract that since we all already know the answer) I am not saying Delta could NEVER go away, but I think we are in better shape and have more money on hand than anyone else. We have the best routes with the most variety, a vast fleet with different types of planes for flexibility, and we have both been through Chap 11 recently, cleaning out the cobb webs and at least one airline's pilot pension, which unfortunately was lost during the BK process. All of that is cleaned out, along with expensive leases, expensive gates, and other one time charges. I think most anal-cysts out there think you are wrong, and think DL and CAL are probably the best positioned Legacies, with Southwest being the best positioned LCC. Those are two different things, with different missions, and if you think INTL traffic will slump for decades (and domestic only will not??), then you are wrong. Oh wait, Southwest has a HUGE codeshare with Westjet (they go to less than 10 common cities with Southwest) and Volaris (a newcomer to the Mexican LCCs, and still doesn't even go to a US city). Wow, we better hurry up and change all of our plans.....

You need to realize that you are out matched here. Your proficies of the future are way out of line with what almost everyone else "in the business" thinks. Recent stock slumps are common at all the airlines, not just DL, and just take a look at the cargo carriers. Well wait a minute, how about you raise the fries out of the vat of oil first.....and say hi to Sean Hanity for me too...


Bye Bye--General Lee

 

[ACL65PILOT]

I am just posting the published facts.

I am glad to see that we will have a profitable year. Our loads are better than expected. A few more services are going to be by a fee now, so we will be generating more revenue. That is all good news to us Supreme Sub Commanders.

 

[crj567]

I am just posting the published facts.

I am glad to see that we will have a profitable year. Our loads are better than expected. A few more services are going to be by a fee now, so we will be generating more revenue. That is all good news to us Supreme Sub Commanders.

You still think that a pre-tax profit is a real profit? How much do you think a company that size might pay in taxes?

Dang.....

-That sub might have a bit bigger leak than you think.