Author Topic: the airlines are in finacial trouble? (Read 697 times)

-ammo- · « **on:** September 19, 2001, 08:22:00 AM »

just reading where boeing and other Airlines are laying off folks by the thousands. Ouch! Ripsnort, hope this doesnt affect your job.

I know there are wheels turning within the intel agency I work and we will get soem retribution soon, but the affects of this attack are far reaching

Toad · « **Reply #1 on:** September 19, 2001, 08:25:00 AM »

Word is US Air is furloughing 1200 out of 6000 pilots on December 1.

They won't be the only ones. Flights are empty. The "flying public" doesn't want to fly.

Heard yesterday that commercial aviation and related business makes up about 10% of the economy. Don't know if it's true, but if it is this was a very effective and far reaching attack.

Fury · « **Reply #2 on:** September 19, 2001, 09:00:00 AM »

Boeing announces job cuts, 20 to 30k jobs

Ripsnort · « **Reply #3 on:** September 19, 2001, 09:45:00 AM »

It not only affects Boeing, think about how far the tenacles of the Airline industry..it covers every aspect of life we have as an industry, from Restaurant employees, to the vendor on the street in Italy. Its tenacles reach into the computer industry as well. If any of you feel secure in your job today, you shouldn't. (Of course, those who are nurses, or cut hair for a living might be exceptional)

1776 · « **Reply #4 on:** September 19, 2001, 09:55:00 AM »

Rip, what you are explaining in your post is "trickle-down" and I have constantly been told that it doesn't work. So it is obvious your statements in your post are incorrect

Pepe · « **Reply #5 on:** September 19, 2001, 10:07:00 AM »

1776,

What Ripsnort states is, in part, true. There are sectors, like everything involved civilian air transportation, possibly cargo too, that is being severely hit. Not only aircraft builders, but operators, airport owners, hotels (especially the ones near the airports),tourism as a whole, that will be terribly hit by this crisis.

On the other hand, there will be sectors, like the obvious defense, electronics, semiconductor, internet security, criptography, that will get a boost.

It's way too early to jugdge, and the final outcome will depend very much on consumer attitude and nerves agains panic. The overall impact will be, IMHO, recessionist, in the short term, and expansive on the long run.

Cheers,

Pepe

Ripsnort · « **Reply #6 on:** September 19, 2001, 10:17:00 AM »

You guys don't read the Wallstreet journal, or long term investment impact statements, do you?

5 years min. for a spiral down effect in GLOBAL economies, 5 years recovery. 10 years before we're out of this. That is, of course, that there is no war in the equation. It gets worse if all out war is declared.

Bottom line, do yourself a favor and have many job skills to fall back on, not just one. That's how I've survived 3 pink slips, and 2 strikes...by being flexible and having more than one or two job skills.

Ripsnort · « **Reply #7 on:** September 19, 2001, 10:21:00 AM »

Oh, and to answer your question, Ammo, who *is* safe in their jobs today? I have 17 years, and hired in this group of 23 employees as #4, but just because there are relatively 19 folks 'under' me doesn't necessarily mean 'Im safe'...in any job I've ever had, I've always considered lay off a potential enemy, this allows one to keep the attitude of doing the best job they can, know that they're expendable, and create a positive influence from that knowledge by bettering one's self in all that they do.

One thing I am thankful for is never spending beyond my means, ie, big credit card bills. Everything I buy I pay cash for. Exceptions of course is my house. This allows one financial freedom in a sorts. That, and having a wife that works in an industry that is a forced clientel, I personally won't have to worry about food on my table, thank the Lord.

[ 09-19-2001: Message edited by: Ripsnort ]

Eagler · « **Reply #8 on:** September 19, 2001, 10:29:00 AM »

it's affecting just about everything. the tourist industry for one, which includes everything from airlines, hotels, rental cars, resturants, mickey mouse, entire states ie Florida, etc...

they are freaking animals but these freaking terrorists, and their backers, thought this one out..

Pepe · « **Reply #9 on:** September 19, 2001, 10:34:00 AM »

I read mostly FT & corporate analysis

I have my own views on recession. Before Sept. 11th, we had a demand crisis mounting. After Sept. 11th, govt. spending will help filling the gap. I wouldn't put 5 years on the recovery time. Of course, I might be totally wrong. The issue is so complicated, so many alternatives, that I think no one can predict further than the typical "I think..."

Cheers,

Pepe