Hi, I'm George, your new boss.....

Aug 20, 2002
United''s woes fail to put off billionaire
By John Schmeltzer
Chicago Tribune
Billionaire investor George Soros must see something in United Airlines that the rest of Wall Street is missing.
Soros has been quietly buying shares of the parent of United — which has warned that it may be forced to file for bankruptcy protection — while other individual investors and mutual-fund companies, including Fidelity Investments, have been selling.
According to a recent filing with the Securities and Exchange Commission (SEC), Soros Fund Management said it owns 2 million shares, or 3.5 percent of the outstanding stock of United. The holding is up from the 36,000 shares that the fund owned at the end of the first quarter of this year. Soros is the chairman and president of the fund.
So far, the Midas touch has eluded Soros'' purchase. According to the filing, Soros paid an average of $11.44 a share for the stock. Shares of United closed yesterday at $2.03, up 31 cents for the day.
Last month Fidelity Investments said in documents filed with the SEC that it had thrown in the towel on its United investment, selling virtually all of its 3.6 million shares.
Like Soros, Fidelity Investments, one of the world''s largest mutual-fund companies, had begun accumulating shares earlier this year. Fidelity paid an average price of $15.10 for its shares and sold the holding after the stock plummeted to $3.88.
Jonathan Schrader, an analyst with Chicago-based Morningstar, isn''t surprised.
He was involved (as an initial investor) in Jet Blue (Airways). I think he has a weakness for airline stocks. He just enjoys them, he said.
Schrader, however, noted Soros rarely misses his bets.
He obviously sees something that he believes he can trade on. He has gauged the situation and believes the company is not going to go bankrupt and that he can make a quick buck, Schrader said.
According to Forbes magazine, Soros is the 23rd-richest American. He is worth about $6.9 billion.
And you thought I was talking about George Bush!


Oct 13, 2002
Soros also has equity in Jet Blue.
Maybe if I had a bunch of money, and knew Ual might need some financing, I might buy a bunch of shares and lend Ual the money.
An article I read said he had 4 million shares.
The stock will shoot up if he lends money to Ual, plus he will get interest on the money.
Now if Ual would default on the loan, maybe Soros would repossess a few planes for Jet Blues fleet or maybe he would negotiate a few landing slots in ORD.
Either way Soros wins.
Just speculating.