Unlike the folks at standard and poor’s I’m not going to play pretend and make believe …. All of you who work here know the score , you can see the ebb and the flow day in and day out , you KNOW the health of our company …
Here’s a little background on the rating agencies , does anyone remember sub prime mortgages being securitized ( many many mortgage being grouped together and then sold as a massive investment vehicle ) ? Well guess who labeled these MBS and gave them a AAA credit risk …. BINGO rating agencies like S&P ….
Maybe I’ve gone off the rails , but in the reality which I inhabit the economy is growing ever more unstable as revenue streams are failing to meet projections across all spectrums . Maybe it’s just me , but it always bugged when I hear people talking about an economic recovery … perhaps these people haven’t heard that our government has backstopped trillions of dollars worth of money ? Maybe they haven’t been acquainted with the term “extend and pretend “ which comes from the governments decision to allow banks and other financial institutions to disallow mark to market accounting … I know , sometimes it’s even easy to forget about the occupation in Iraq and the war in Afghanistan that are costing our nation countless hundreds of billions of dollars each year … OH and did I mention our Federal government is broke , along with almost every state government , and the majority of our citizens who live paycheck to paycheck ? Shucks ,call me a reality embracing pessimist , but if our NATIONAL economy is not going to rebound in 2010 then I don’t see how our SERVICE industry airline could possibly bounce back … I mean it’s not like we grow food that countless millions of people MUST have to continue living , no we’re one of five major airlines in a nation with shrinking demand for air travel and continuing over capacity ….
But ,what do I know ?..... I’m just a baggage handler .. :blink: