Originally Posted by
Andy
How's this for backing it up?
Moody's, JPMorgan economists: Houston, maybe Texas heading for recession - Houston Business Journal
Houston We Have A Problem: JPMorgan Says Texas Recession In 2015 | Seeking Alpha
"Houston, You Have A Problem" - Texas Is Headed For A Recession Due To Oil Crash, JPM Warns | Zero Hedge
Moody?s economists see recession for some Texas cities, not whole state | Dallas Morning News
Turmoil is coming to Houston area's economy - Houston Chronicle
But that isn't the scary part for oil industry dependent Houston and Texas. Here's Cushing's storage; it's at record levels:
Weekly Cushing, OK Ending Stocks excluding SPR of Crude Oil (Thousand Barrels)
And you'll find the same thing at PADDs throughout the US. To the point where many storage facilities are now limiting the amount of refined products that refineries can put in storage (there's also a glut of refined oil products).
These are all-time record highs in oil and petroleum product storage. So anyone thinking that oil prices are suddenly going to increase hasn't been watching the oil markets very closely.
Edit: None of us pilots asked for this merger. Except Smisek and Ex-Con senior management/BOD, who went to Tilton to block United from merging with US Airways. Smisek recognized that if he didn't merge with United, the only dance partner remaining was American and with route overlap, both American and Continental would have faced massive cuts.
So either stop complaining about a merger that Continental management pushed for or go find a job that you're not going to be miserable at for the rest of your career. LUAL pilots didn't make this merger happen.
To back up this edit:
How United, Continental negotiated a 'merger of equals' | cleveland.com
Really...A Recession my friend is not based on an analyst report of what he or she or they feel the future holds...a Recession is based on historical data that shows a contraction of an economy.
DEFINITION OF 'RECESSION'
A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP); although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession.
None of this has happened and no company would base it's future moves on an analyst prediction. The economy of Houston and Texas is not the same from the 1970's, it is a diversified economy that has the necessary tools to outlive this oil issue. No indicator as I posted before shows a recession...
P.S. I'm not complaining about the merger...we are discussing the apparent desire by some to displace in IAH when many of us feel it is not necessary...why do you people keep adding arguments to this discussion???