Another huge Scab Air lo$$

[insp89]

oh don't get your panties in a bunch, think finman is going by what was stated in some news report or something. I have read that before.

Accounting is a fun thing to do... it's like a big logic problem. You can bounce the numbers around to make it appear what you would like it to appear...

I liked Bernie Han, he was pretty good at it.

Yeah, You can always count on one thing from airline management in this country,

FIGURES DON'T LIE, ONLY LIARS FIGURE.... 😉

 

[local 12 proud]

Yeah, You can always count on one thing from airline management in this country,

FIGURES DON'T LIE, ONLY LIARS FIGURE.... 😉

...And this Man wins the Grand Prize..

 

[CSAR GYRENE]

oh don't get your panties in a bunch, think finman is going by what was stated in some news report or something. I have read that before.

Accounting is a fun thing to do... it's like a big logic problem. You can bounce the numbers around to make it appear what you would like it to appear...

I liked Bernie Han, he was pretty good at it.

I think you have a good point here. I dont have the "FIGURES" 😉 to back it up, but something tells me that NWA will post losses as long as it is expediente to do so while in BK. If and when nwa finally leaves BK, I got a feeling that we will see a sudden "change" in revenue. Again, I re-iterate that this is pure conjecture. Perhaps those who have experience in BK proceedings will know more

 

[Garfield1966]

What would the cost to NWA be if one of the planes worked on by the scabs ends up as a lawn dart due to faulty repairs?

Probably the same as when the UAL flight crashed in Souix Falls, when the AA flght crashed in ORD, or when any plane crashes due to human error.

 

[finman]

What would the cost to NWA be if one of the planes worked on by the scabs ends up as a lawn dart due to faulty repairs?

Just a thought.
Apparently not to stringent for NWA! An excutive "Forgot" to disclose dumping his stock prior to BK, then throw in a little investigation by the feds on the pension thing and what do you have?

Hey what's a little BK fraud amonst friends

I hope the Rat B*st*rds end up behind bars. I'll pay for the "Soap on a Rope"

Naturally, the savings will only be fully realized if the quality of maintenance is not diminished under the new structure. It appears that most of the bugs have been worked out, and the current maintenance is equivelant to the quality and timeliness AMFA mechanics provided. Obviously, if something catasrophic occurs, then all of that goes out the window, and the show is over.

As far as executive stock sales, that's not really an NWA accounting issue. It has no impact on the financial statements; it's only supplemental information that is provided to the SEC, and is the responsibility of the individual to report those sales. This one also may have been deemed immaterial ($20K total proceeds) even if it had been reported.

 

[groundcontrol]

wow! those SCABS really are costing the company big time. The hotel, transportation, feeding them, all add up. That loss is among the biggest I have seen in recent times. When will it be a good time to show the SCABS the front door?

Robbedagain or anyone in the philadelphia area...
whats this I hear about swissport moving into the Northwest maintenance area/office and performing maintenance on NW/Delta planes? Heres it being headed up by an x Delta dude....More scabs on the way.

 

[robbedagain]

I dont know about that cause I live 65 mile north of PHL area. I havent heard that. All I know is since end of last Aug, NWA has been unsafe due to scabs being maintaince but yet the maintaince work is extremely shoddy.

 

[groundcontrol]

I dont know about that cause I live 65 mile north of PHL area. I havent heard that. All I know is since end of last Aug, NWA has been unsafe due to scabs being maintaince but yet the maintaince work is extremely shoddy.

Thanks for getting back to me...my mistake, you must be in Pitts not Phl. Someone I'm sure will be able to respond...

 

[jenny@nw]

Thanks for getting back to me...my mistake, you must be in Pitts not Phl. Someone I'm sure will be able to respond...

Or at a smaller station Northwest "consultants". (you know, those who mysteriously retired on Aug. 19 and re emerged as these on Aug. 20th...) Great euphinism, same smell.

 

[robbedagain]

Thanks for getting back to me...my mistake, you must be in Pitts not Phl. Someone I'm sure will be able to respond...

actually Im a former USAIR, now Piedmont Ops agent in ABE.
No problem with gettin back to you

 

[finman]

Thank you for falling into the trap and making my point better than I could. While it may be immaterial it does give insight into the moral character of the individuals who actually run NWA. They apparently feel that laws, rule & guidelines apply only to others and that is troubling.

Can't help but notice that all of the "Defenders of the Realm" have been stone silent on the Pension investigation.

I was not making any moral claim either way as far as the stock sale disclosures are concerned. I was only speaking to the accounting aspects of the issues you brought up. I really don't care if there was an oversight of a $20K stock sale. This occurred when others were openly selling off stock in the millions, so this transaction would have had no impact on the investment communities position on NWA stock. Was it stupid to not report the sale? Of course it was, and I hope that the appropriate punishment is handed down, because I agree that materiality does not excuse ignoring the law.

As far as the pension issue, I'm just going to wait and see on this issue. Obviously, NWA was trying to only make the minimum payments necessary under the law, and they used BK to avoid a good chunk of payments that were coming due, but I haven't seen anything as of yet that would suggest that any laws were broken. That may certainly change, though, during the investigation, so I'm not going to make any claims that NWA was above board on this one.

 

[700UW]

finman,
I have this annoying Southern Baptist upbringing based on such arcane concepts as morals, values & ethics!

Now now now, we all know you have done something to break everyone of those concepts you claim to have.

 

[Hackman]

Naturally, the savings will only be fully realized if the quality of maintenance is not diminished under the new structure. It appears that most of the bugs have been worked out, and the current maintenance is equivelant to the quality and timeliness AMFA mechanics provided. Obviously, if something catasrophic occurs, then all of that goes out the window, and the show is over.

Current maintenance is currently substandard finny. Read about the debacle in Jamaica. Woops.....my,my, what a mess. :huh:

The show is over, at least for the passengers who got hung out to dry. Will never fly Scab Air again is my bet. 😉

 

[finman]

finman,

I applaud your courage, truly I do. You seem like a genuinely decent guy trying in many cases to defend the indefensible. I'm sure if we ever met over an adult beverage we would become friends.

Bob,

Thanks for the kind words; the feeling is mutual. In all honesty, it's becoming harder and harder to defend the seemingly continueous blunderings here at NWA. There's a pretty decent chance I won't be at NWA much longer; it's just not worth it.

 

[Hackman]

Bob,

Thanks for the kind words; the feeling is mutual. In all honesty, it's becoming harder and harder to defend the seemingly continueous blunderings here at NWA. There's a pretty decent chance I won't be at NWA much longer; it's just not worth it.

Congrats on finally seeing the light. Do you now understand why AMFA struck? Just not worth the pain.

Good luck in your job search finny.