Originally Posted by
gloopy
Once again, you are only right in the short term. When bad times happen, and they will, our "not at risk" PS monetization will become very much at risk. Yet in good times or in bad, we will never get back this level of PS under any circumstance. PS concessions from now on are a one way check valve.
Penny for your thoughts:
How quickly did the "not at risk PS"(aka pay rates) disappear after 9/11?
How quickly did actual profits disappear after 9/11?
How much have the rules for Ch. 11 changed since that "haircut" was forced by the Company?
Are you of the opinion that PS and rates are of equal risk today as they were 10 years ago?