Originally Posted by
Han Solo
I don't get how it makes business sense to spend billions upon billions fixing LGA and LAX and then spend even more billions on worthless stock buybacks when our own house isn't in order.
You don't get it, or you don't agree with it?
Maybe the business sense is the goal of strengthening key revenue sources, and lowering the cost of capital. The "to do" list at Delta has several items. The prioritization of those items might be different to us as pilots than it is to others who're accountable for
all items on the list.
If you believe the corporation's primary purpose is to make shareholders happy, then describe how the company's current prioritization of the "to do" list doesn't serve that purpose. Show your math.
Originally Posted by
Han Solo
It's like some guy who earns $40k/year and has $50k in credit card debt running 22% interest who thinks it's smart to buy lottery tickets.
It's not like that at all. The "guy" in this case is making between 5 and 6 multiples of his debt. He's taking some of his profits...after paying his employees industry-leading profit sharing...and buying far-from-worthless stock back. The "lottery ticket" analogy is bad because the billions you reference being spent in LAX and LGA represent investment far more certain than the odds involved in lottery games.