We have hardly begun to address symptoms of MBA school trained management - whose mentality is based in concepts also found in the 1970 Kremlin. Is American Airlines, et al in trouble only because they did not buy futures in fuel? Is it only because they fly a hodge podge of aircraft? Of course not. Problem due to MBAs who cannot innovate - do not come from where work gets done successfully (just like a mental midget president). People who are there because you (the residents of PA) will even reelect Sen Santorum - approve of what will be discussed below.
We continue with other symptoms of industries run by MBAs. If you have been reading real news, then you know the airline have dumped their pension funds onto you. It is a scam that MBAs pushed onto the American tax payer - having bought politicians as the S&Ls did so many decades ago. They knew we are so naive - so busy reading fiction and worshipping false idol gods as to not notice the world of reality - and another scam.
Let's say you work 30 years in a company. That company promises to pay you AND setup a pension fund. How much must be in that pension fund at the end of 30 years? Let's say that pension fund should be worth $100,000 at the end of 30 years. Therefore the company must put $1000 in that fund every year. No problem as long as that $1000 arrives every year. But if the company has a losing year, and does not want to admit it, then they play money games. They just 'forget' to put that money in on some mythical spread sheet game that they will make up for that shortfall years later when the company is profitable.
Gamblers d0 same in Las Vegas. Somehow the pension fund ends up short of cash until the stock market booms for a short time. Then the company claims they have made up the $2billion shortfall - and you 'feel' the problem was solved.
Legally this is not suppose to happen. But these 'gamblers' are MBAs who know how to 'cook the books'. Even worse, they got the big seven (now big four) accounting firms to approve of these games.
Ok. Sooner or later, the house of cards is going to collapse. Having learned from the S&L crisis, these MBAs don't want the government to pass laws to 'fix the problem' later. So they got the problem solved (masked) before you would see the scam. They created a government insurance company called Pension Benefit Guaranty Corporation (PBGC).
As an MBA educated top executive, when my company should have declared bankruptcy (to eliminate the anti-American, anti-innovative me - to fix the problem), then instead, I short Pension fund contributions. I call it an outstanding debt or some other spread sheet game. I play money games so that I remain on the payroll and so that stockholder value drops years later. But nobody notices until after I am gone with plenty of termination benefits.
When the Pension funds are later found short, then my steel company or car company drops the entire pension fund into the PBGC. The US government then sells more treasury bonds overseas to mortgage America's future - to pay for my games of corruption. No problem - because Americans approve of this that George Jr is doing.
BTW, America's S&P 500 companies have been underfunding pension funds since 2000 - when a mental midget president took power - making corporate welfare an American tradition. You of course knew that ... or why not?
So many Americans so hate America as to even reelect the mental midget president - some by not bothering to vote - which is a vote for the incumbant. So again we have corporate welfare. I, as an anti-American executive of the company, walk off with $hundreds of millions. Thank you. You get stuck for the underfunded pension. Your kids get struck with the largest debt in the history of America and of the world.
Return to American Airlines whose top management remains. We have simply made it even easier for American Airlines to go deeper into debt - and not have that debt appear on the spread sheets. Show me a top executive who has to pay back those $hundreds of millions. You are the sheep - scumbag - who can be lied to by the Rush Limbaughs. For if Rush was a patriot, then he too would have told this story.
Rush would have told you how the mental midget president said nothing as American Airlines dumped $6.6 billion dollars onto the American taxpayer. Notice not one American Airline executive took a pay cut or paid back their entire salary, bonuses, stock options, benefits, golden parachute promises, etc. You (plural - a reference to most Americans) don't read. You (plural)actually say the propagandist and mental midget president supporters (ie Sen Rick Santorum of PA) are doing a good job.
Did you even know how American Airlines, essentially, got another free $6.6 billion from the government? Notice how incumbant politicians remained silent partners - another reason why buying politicians is so profitable - and why Republican power brokers don't like honesty from people like McCain.
Remember, these same anti-American airline executives got the mental midget president to give them something like $8 billion after 11 September - for free and with no strings attached. How many other ways will they get more government welfare for free? Of course, you knew about that George Jr gift to selected airline companies?
Its simple. Pennsylvania residents vote back well over 90% of their incumbents - because PA residents (generally) don't read, because their only news comes from local gossip newspapers and TV stations, and because they worship spin doctors like Rush Limbaugh. PA residents so hate America as to endorse another $6.6 billion of corporate welfare - and more to come - to American Airlines. Patriots would have long demanded the bankruptcy of American Airlines complete with removal of executives who come from MBA schools - who don't come from where the work gets done. But that requires PA residents to be informed.
Your benchmark. The US government gave American Airlines another $6.6 billion in corporate welfare. Did you know about this? If not, you are the problem as defined in the above example.
There is no reason, other than outright and intentional negligence, for you to not know of the PBGC and of those so many $multi-billion corporate welfare payments to coporations such as American Airlines. They have been that unproductive and therefore that anti-American for that long.
Meanwhile, Southwest is profitable for more reasons that hedging their fuel. Its called being product oriented or not being an MBA. Provided above is but one example of why those MBAs exists. Are you defined by this example?
Last edited by tw; 10-15-2005 at 08:40 PM.
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