Oil at $80/barrell

[Dizel8]

According to one source, UAL is hedged 30% first quarter at 1.38 Gallon.

 

[TriStar_drvr]

I'm hopeful that if oil continues to climb, airline management will finally have the sense to raise fares. There is talk of gasoline going to $3 a gallon this summer. So for those that travel, even increased air fares may be a bargain compared to driving.

 

[skykid]

I also think dare I say that the bankruptcy process is in desperate need of reform.

That's a valid arguement. However, a lot of the folks down on the process right now are going to be singing a different tune in the future. I don't believe any airline is going to have traditional pensions in 10 years. Hope I'm wrong. If you have a way to dump that benefit without Ch11, I'd love to see it.

 

[Boeingman]

That's a valid arguement. However, a lot of the folks down on the process right now are going to be singing a different tune in the future. I don't believe any airline is going to have traditional pensions in 10 years. Hope I'm wrong. If you have a way to dump that benefit without Ch11, I'd love to see it.

Valid statements, but the DB pensions will be gone much sooner than 10 years. I am going to say within 3 -5.

Bankruptcy reforms could start with more accountability required from management teams in place. The 1113 process is a joke as well. Labor should not be forced by some judge acting as a management santa claus to relinquish years of collective bargaining because management has no other business plan but to cut employees wages.

One of my dreams is to have legislation that would require companies to fund pension obligations before some level of defined and excessive management compensation programs.

 

[Lear70]

I also think dare I say that the bankruptcy process is in desperate need of reform.

What I find especially interesting is that congress just passed a bankruptcy reform bill for INDIVIDUAL CITIZENS that LIMITS what you can file on and REQUIRES you to pay certain debts EVEN IF YOU FILE CH. 7!

From what I understand, the law will make it essentially NO better to file a 7 than a 13. Because of the high number of people who got into more house, car, boat, and credit card debt because of then-lower interest rates, we're seeing the beginning of the forcing of a HIGH number of defaults on those debts. Car and Home reposessions in the TN area are up 100% over this time last year and it's expected to climb nation-wide which is fueling bankruptcy fears which is behind this move by large lending companies to reform the BR laws.

What does all of this have to do with this thread? I find it VERY interesting that the bill that is expected to overwhelmingly pass in the Senate then be signed into law in the next 30-45 days limits CITIZEN'S rights, but NOTHING is being done about a CORPORATION'S ability to again and again file for BR protection just to come out with lower costs, renegotiatioted deals, and releases from unprofitable equipment leases with no penalties.

More big business at work. I think you can kiss any chance of government regulation of corporate bankruptcies goodbye. Ditto that on re-regulation of the airline industry - too much money to be made on the operation and stock end of the deal by those with a direct line of contact to their congressman, senator, or President.

 

[Boeingman]

, but NOTHING is being done about a CORPORATION'S ability to again and again file for BR protection just to come out with lower costs, renegotiatioted deals, and releases from unprofitable equipment leases with no penalties.

And the voiding of labor contracts with no recourse by the rank and file.

Interesting observation you have made....I tend to agree.

 

[surplus1]

Why are you all compllaining? Didn't the overwhelming majority of you vote for GWB and company? Well, you got what you voted for.

It's normal to expect that they would change to BK rules for individuals but not for businesses. Whose side do you think this government is on, the people's?

Dream on. We're stuck with this for at least another 4 years. By that time there won't be a single pension left and every labor contract will have been trashed on the altar of "conservatism".

You all (you know who you are) got what you wanted, now deal with it. It's just too bad you also screwed the rest of us.

 

[80drvr]

Why are you all compllaining? Didn't the overwhelming majority of you vote for GWB and company? Well, you got what you voted for.

It's normal to expect that they would change to BK rules for individuals but not for businesses. Whose side do you think this government is on, the people's?

Dream on. We're stuck with this for at least another 4 years. By that time there won't be a single pension left and every labor contract will have been trashed on the altar of "conservatism".

You all (you know who you are) got what you wanted, now deal with it. It's just too bad you also screwed the rest of us.

Completely agree. This administration has really opened the eyes of this former republican.

 

[Boeingman]

Why are you all compllaining? Didn't the overwhelming majority of you vote for GWB and company? Well, you got what you voted for.

Considering the choice for the alternative? Everytime I thought of voting for Kerry, my stomach churned.

 

[surplus1]

Like I said, you got what you wanted. Deal with it.

What's more you've only tasted a small part of what's in store. There's plenty more coming.