Time to shoot the Mule

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"We look through those charges and see a fundamental improvement in the financials of the company and are pleased with what we saw," said UAL Chief Financial Officer Jake Brace in an interview.

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So what can be said for CFO Jake Brace's comments on UAL losing 1.4 billion dollars for the second quarter??? I'm not quite sure except "do the math moron, you lost 1.4 billion dollars, that’s 1.4 billion dollars!!!" UAL's loss was more the a billion dollars then the same period in 2004. UAL blames the high fuel prices as the biggest reason for not showing stronger results. Now I've heard cop-outs before but this one takes the cake. AA the world's largest airline as I talked about in a recent post made a very strong profit in the same ruff environment as UAL. UAL’s problems are far more complicated then just high fuel prices. Their problems lay at the fundamental heart of their business plan, which is??? They have no business plan, NONE, they keep pushing back their emergence from Chap 11 because the business plans they’ve proposed to their creditors don’t work. The issues are UAL has no identity in the market place with both leisure customers and business customers. TED is doing absolutely nothing for them, and there markets are being invaded by both LCC”s and stronger mainline carriers.

Now just sit back and think for a minute if you were a long time employee of UAL and only a few months ago UAL's top management said in order for us to turn the company around we have to end your pension. I think if I worked for UAL I'd like to know what the hell happened???? You took my retirement savings away from me and we're doing worse then ever!!!!

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"At this point we see possible employee retaliation as being the greatest threat to the company's reorganization and future viability, wrote Ray Neidl, Calyon Securities analyst,

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Well there's a shocker kids :shock: !!! I can't imagine going to work tomorrow at UAL and knowing that the company is so mismanaged that my retirement was thrown away for nothing. Tell me I have to be nice to customers at this point.

You know what farmers do with old mules that can't work anymore?? They take them out to pasture and shoot them. It's time UAL is taken out back and put down. Now before you totally slam me and say "Oh real nice Tom you want to see all those people out of work” Let me say this, first, shut up j/k, and second I absolutely do not want to see tens of thousands of people out of work, trust me I know I've been with companies that have closed down. When you look at the facts UAL is a go nowhere company with a nonexistent business plan. As for the employees, the good ones will get jobs with other carriers who move in and take UAL's place or move onto companies who admire and respect their employee's. Common Jake time to take the old girl out to pasture....

Strong points here.

While their stance on the $1.4 billion issue is just blatantly sad, I think the worst part of this is what they did to the pensions and the "reward" it brought the company. I'd call it a slap int he face, but it's more like a punch with a roll of quarters in their fist.

Though it would never happen, I wish the government would step in and drop, literally, the people's elbow, on UA. Look out for the employees who are getting screwed instead of the success of the business and its shareholders.

Good post Tommy.