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Author: Subject: An open letter to all airline customers

Zen Peach





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  posted on 7/10/2008 at 02:21 PM
Email from United Airlines....has nothing to do with me being in the FAA!



An Open letter to All Airline Customers:

Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now.

For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers. Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation.

Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.

Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper.

The nation needs to pull together to reform the oil markets and solve this growing problem.

We need your help. Get more information and contact Congress by visiting www.StopOilSpeculationNow.com.


 
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Zen Peach



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  posted on 7/10/2008 at 02:27 PM
thats


http://www.stopoilspeculationnow.com/



This might seem like a "flavor of the month" website, actually it kind of is..but it was in an announcement from the the CEO of what is presently the worlds largest airline. Must have some balls to it so I thought I'd pass it along. Pretty much the letter but different CEO.
Sign the petition please, zip code and a few other items all that are needed to send it to your representatives.

[Edited on 7/10/2008 by Haisija]

 

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Zen Peach



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  posted on 7/10/2008 at 04:02 PM
I have a hard copy of this letter that my boss received on Delta Airlines letterhead. It has the signatures of:

Richard Anderson
CEO, Delta Airlines

Bill Ayer
Chairman, Pres. and CEO, Alaska Airlines

Mark B. Dunkerley
Pres. and CEO, Hawaiian Airlines, Inc.

Timothy E. Hoeksema
Chairman, Pres. and CEO, Midwest Airlines

Gary Kelly
Chairman and CEO, Southwest Airlines Co.

Douglas M. Steenland
President and CEO, Northwest Airlines, Inc.

Gerald J. Arpey
Chairman, Pres. and CEO, American Airlines, Inc.

Dave Barger
CEO, JetBlue Airways Corp.

Robert Fornaro
Chairman, Pres. and CEO, AirTran Airways

Lawrence W. Kellner
Chairman and CEO, Continental Airlines, Inc.

Douglas Parker
Chairman and CEO, US Airways Group, Inc.

Glenn F. Tilton
Chairman, Pres. and CEO, United Airlines, Inc.

Glad that the presidents/CEO's of all the major airlines are standing in solidarity on this.

 

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Zen Peach



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  posted on 7/10/2008 at 04:16 PM
Comair just let go 600 employees here at CVG.

 

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Zen Peach



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  posted on 7/10/2008 at 04:33 PM
I sent e-mail through SOSN to both my US senators and my district U.S.H.O.R.

I hope something gets done. The price of liquid asphalt cement (AC) is going through the roof, and for the first time today, after our third increase in two weeks, I am genuinely concerned about the future of my industry. AC was $280 a liquid ton in January. First of the month it was $500, then went to $550, then to $600, then to $675 effective tomorrow. There ain't no end in sight.

God damned greedy corporate bastards.

 

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  posted on 7/10/2008 at 04:39 PM
I got a similar email, about the highly volatile dirt market.

www.topsoilspeculationnow.com

 

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Zen Peach



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  posted on 7/10/2008 at 05:44 PM
quote:
I got a similar email, about the highly volatile dirt market.

www.topsoilspeculationnow.com
Bruce, I know you're trying to be funny, but this is serious **** . If something isn't done about speculation and the effect it has on the price of crude, it could affect millions of livelihoods like Haisija's, mine, anyone else whose business if fuel driven. We're already feeling it at the pump and at the grocery store.

 

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Zen Peach



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  posted on 7/10/2008 at 05:59 PM
quote:
If something isn't done about speculation and the effect it has on the price of crude, it could affect millions of livelihoods like Haisija's, mine, anyone else whose business if fuel driven. We're already feeling it at the pump and at the grocery store.
And it's being felt in the airline industry - recent pilot layoffs from United, American layoffs in Dallas/Ft. Worth (with additional cuts expected around the state), talk of American layoffs in Florida, etc. And eventually this trickles down to each and every one of us. Crazy times.

 

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Zen Peach



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  posted on 7/10/2008 at 07:29 PM
Its just not fuel folks...pretty much everything in your house has oil in some form in its creation, from the plastic tubs your margarine comes in to the fibers of your carpet.
If its made of plastic, chances are its petroleum based.
Oil just ain't for fuel.
As far as the company I work for they've announced 6800 heads so far to hit the street.
Their idea is to take ALOT of available seats out of the air which in turn will create higher demand for tickets wiht less aircraft flying and less folks on the payroll there for maybe some small hope of having a profit.
Don't count on a cheap Southwest seat for much longer either. As a matter of fact if you did your homework you can fly other BIG 3 airlines for the same cost. Southwest's fuel hedge they've enjoyed for the last few years is supposed to be cut by about 80% ths year.
Looks like the only ones left being able to afford airline tickets after this is over are oil speculators !

 

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If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 

Zen Peach



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  posted on 7/10/2008 at 07:33 PM
quote:
I have a hard copy of this letter that my boss received on Delta Airlines letterhead. It has the signatures of:

Richard Anderson
CEO, Delta Airlines

Bill Ayer
Chairman, Pres. and CEO, Alaska Airlines

Mark B. Dunkerley
Pres. and CEO, Hawaiian Airlines, Inc.

Timothy E. Hoeksema
Chairman, Pres. and CEO, Midwest Airlines

Gary Kelly
Chairman and CEO, Southwest Airlines Co.

Douglas M. Steenland
President and CEO, Northwest Airlines, Inc.

Gerald J. Arpey
Chairman, Pres. and CEO, American Airlines, Inc.

Dave Barger
CEO, JetBlue Airways Corp.

Robert Fornaro
Chairman, Pres. and CEO, AirTran Airways

Lawrence W. Kellner
Chairman and CEO, Continental Airlines, Inc.

Douglas Parker
Chairman and CEO, US Airways Group, Inc.

Glenn F. Tilton
Chairman, Pres. and CEO, United Airlines, Inc.

Glad that the presidents/CEO's of all the major airlines are standing in solidarity on this.


Yeah, the dumbasses usually try to cut each other's throats at the expense of the workforce.

 

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If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 

A Peach Supreme



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  posted on 7/10/2008 at 11:25 PM
Well, until airline customers are willing to pay for the cost (plus profit would be a bonus) of their air travel, nothing's going to change. Of course, all the airlines need to start charging above their cost-basis for that to happen, b/c you can't fault the consumer for searching for the lowest fare. I think this letter from all the airline CEO's is really more a PR ploy (if you will - although warranted) to insulate themselves and their respective companies from the coming massive increases in air fares after this summer. There's some major reductions in capacity coming out of the domestic system after August, most of which has already been announced, but much more to come. The number of seats coming out will be the equivalent of a couple major airlines going out of business. Once that happens, fares will go way up (as they should to cover costs). I just think this is a "prepare the public" sort of PR campaign that the ATA (American Transport Assn.) is probably behind to get the public ready for it. It'll be $350 to get anywhere in this country on an airplane on a leisure fare by next winter, me thinks. If oil drops 40% or so and gets back into the $80s per barrel, then things might not be so bad. But I'm doubting it at this moment. At least in the near-term.

[Edited on 7/11/2008 by Zambi]

 

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Maximum Peach



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  posted on 7/11/2008 at 11:44 AM
I have a hard time with this.

There's always been speculation in the commodoties markets. Always. In fact, it's one of the wilder markets around. I don't see any letters being written about the cocoa speculators or the orange juice speculators. Why? Because we haven't built our entire world around OJ obviously. So shouldn't this be just one more clue as to how fVcked we are due to our mortal addiction to black gold? Speculation is a by-product of our addiction, not a cause and certainly not the reason we're in the position we're in.

Don't sign petitions to regulate crude trading further, because the damage is done. Sign petitions to urge the government to fund alternative energy research to get us all out of this, not just those whose livelihoods are fuel based. Band -aid approaches to our predicament will only delay the inevitable.

 

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This one goes to eleven...

 

True Peach



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  posted on 7/11/2008 at 01:04 PM

 

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Universal Peach



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  posted on 7/11/2008 at 05:22 PM
Richard Anderson
CEO, Delta Airlines

Bill Ayer
Chairman, Pres. and CEO, Alaska Airlines

Mark B. Dunkerley
Pres. and CEO, Hawaiian Airlines, Inc.

Timothy E. Hoeksema
Chairman, Pres. and CEO, Midwest Airlines

Gary Kelly
Chairman and CEO, Southwest Airlines Co.

Douglas M. Steenland
President and CEO, Northwest Airlines, Inc.

Gerald J. Arpey
Chairman, Pres. and CEO, American Airlines, Inc.

Dave Barger
CEO, JetBlue Airways Corp.

Robert Fornaro
Chairman, Pres. and CEO, AirTran Airways

Lawrence W. Kellner
Chairman and CEO, Continental Airlines, Inc.

Douglas Parker
Chairman and CEO, US Airways Group, Inc.

Glenn F. Tilton
Chairman, Pres. and CEO, United Airlines, Inc.

Preety sure these guys would be willing to hand back their huge yearly bonuses to help out the little guy. Air Canada big wheels yearly bonus was 41 million then he laid of 2800 workers.

 

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  posted on 7/12/2008 at 12:01 AM
quote:
Preety sure these guys would be willing to hand back their huge yearly bonuses to help out the little guy. Air Canada big wheels yearly bonus was 41 million then he laid of 2800 workers.


Actually, if you compare airline execs' salaries and cash compensation (incl. cash bonuses), it pretty much pales in comparison to other equivalent companies in the Fortune list of companies. A lot of it is stocks and stock options, which doesn't cost the companies cash and really isn't worth all that much given current airline stock values. The cash value is actually pretty low in comparison. Not saying I would sneeze at what those guys are making, but it's in the couple-hundred-thousand per year in the airline industry. Comparable-sized companies you could basically add a zero to the end to get the equivalent execs' compensation. For example, the execs at Delta were basically in the $300's or below (i.e., thousands) in 2007. Again, nothing to sneeze about, but there are others in the Fortune 500 list getting in the millions per year in cash. And at that level of management, the industry itself is almost irrelevant. They're getting paid that for managing. Many of the airline execs could easily make 10x that salary elsewhere, so if you look at it on a market-based-pay basis, it ain't that bad.

 

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Zen Peach



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  posted on 7/12/2008 at 12:15 AM
quote:
Preety sure these guys would be willing to hand back their huge yearly bonuses to help out the little guy. Air Canada big wheels yearly bonus was 41 million then he laid of 2800 workers.






The employees will be laid off, in return as expected the stock rises and they cash in their options.
Just as a coincidence, last year my company had a roughly $ 260,000,000.00 profit.
Wanna guess what the bonuses were for the top execs....$247,000,000.00.
5 years ago the workfoce gave up 17+% of their wage, a week of vacation, 7 paid holidays ( now we have 5) and now no higher wage than 1.5X for overtime or if you work on a holiday. This totaled 1.7 BILLION dollars. Yep, nice bonuses then also.

What other business can you have a product thats costs, lets say $10.00 and you sell it for $6.00 and are rewarded handsomely for it other than the airline business !

 

____________________
If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 
 


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