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  #31  
Old 10-10-2005, 08:38 PM
truebeliever truebeliever is offline
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Default US Senate Finance Committee Chairman Charles Grassley Claims Many Airlines Are Going To Go Bust.


A billion here, a billion there...

By Jim Smith, Editor, Jane's Transport Finance


"A billion here, a billion there, pretty soon you're talking real money!" according to a quote ascribed to the late US Senator Everett Dirksen.

James C May, president and chief executive officer of the Air Transport Association of America (ATA), the principal trade group representing US airlines, has called for the US government to grant a one-year holiday from the 4.3 cents per gallon jet fuel tax.

At the federal level, US airlines pay 4.4 cents for every gallon consumed on a domestic flight. Of that amount, 4.3 cents goes to the Airport and Airway Trust Fund, while 0.1 cents supports the Leaking Underground Storage Tank Fund.

US Senate Finance Committee Chairman Charles Grassley has thrown a wet blanket on the idea of a tax holiday for US carriers.

"I wonder to what extent a four-cent reduction is going to help airlines that are all going to go into bankruptcy anyway," Grassley told reporters outside the Senate. "Maybe you might as well let the bankruptcy court sort it out."

The ATA's May estimates that US carriers, which are expected to lose USD10 billion this year, will spend USD30.6 billion for roughly 452 million barrels of jet fuel in 2005. At 42 gallons per barrel, the rollback of 4.3 cents per barrel would pare about USD814 million from the aggregate fuel bill for US carriers.

Not a lot of savings percentage-wise to be realised from the tax holiday. But any port in a storm.

http://www.janes.com/transport/news/jtf/jtf050923_1_n.shtml

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  #32  
Old 10-10-2005, 08:43 PM
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Default Re: US Senate Finance Committee Chairman Charles Grassley Claims Many Airlines Are Going To Go Bust.

WOW!! Right before your eyes, but only those who aren't asleep at the wheel get it.

So, if a majority of the airlines file for bankruptcy, DELTA recently has done so, wouldn't this be an incentive for the government to place the carriers back under their arm?

and

with high fuel prices, if this occurs then I wouldn't doubt that our air travel begins to be restricted.
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  #33  
Old 10-10-2005, 08:57 PM
freeman freeman is offline
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Default Re: US Senate Finance Committee Chairman Charles Grassley Claims Many Airlines Are Going To Go Bust.

Yes, Grassley's slip of the tongue is very telling.
The inside plan is for the airlines to go bankrupt. It is a done deal.
Yet none of the government elite seem worried about the future of the nation's ariline industry.
This leads to two logical conclusions, IMO:
1)The airline industry has already been divied up to the oligarchs, possibly under the mantra of nationalization. Airline deregulation was just another short-lived scheme to exacerbate the failures we are now witnessing and make the carriers ripe for picking.
2) Peak oil is a scam, otherwise there would be a plan to provide relief for the airlines' fuel costs right now.
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  #34  
Old 10-10-2005, 10:03 PM
rushdoony rushdoony is offline
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Default Re: US Senate Finance Committee Chairman Charles Grassley Claims Many Airlines Are Going To Go Bust.

Re Airlines,

Say you have a healthy public company
with 1,000,000,000 shares outstanding
and trading at $60 per share, giving it
a market capitalisation of $60,000,000,000.

Now the banksters deliberately hatch a plan
to create a future cash flow crises so they can
scoop the company.

Load the company up with unbearable debt,
say $20,000,000,000 that can't be reasonably
serviced from existing cash flow. You create
a cash flow crisis and the stock tanks to
$.50 per share, giving a market capitalisation
of $500,000,000 followed by Chapter 11 bankruptcy filing,
and temporarily suspended from trading stock.

Now the investment banksters and their lawyers convert the debt to
shares at the price of $.50 per share,
and immediately thereafter consolidate the shares
100 old shares for 1 newco share. On the first day of trading
you will have a stock with 410,000,000 shares outstanding,
97% owned by banksters, trading at $50 per share,
giving a market capitalisation of $20,500,000,000.
Because the company has no debt, it'll probably
trade at $75 per share on first new day of trading,
giving a market capitalisation of 30,750,000,000.

The fractional reserve banksters didn't even
have to use all their own money, they just created
most of it out of thin air.

Now they own the majority of the company,
its assets, and a healthy balance sheet.
The plan worked for the banksters. Poor suckers
those original public shareholders, some who bought
at $60 per share and now get one newco share for each
100 old shares.

Now this is a greatly simplified example that could
have 101 twists to it, but you should
get the general idea. The stock was crashed on purpose for an agenda.
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