Originally Posted by
All Bizniz
There are many legally creative accounting strategies that can be employed in order to make company seem unprofitable and there are many reasons why it's done such as for tax issues, suppressing labor demands, etc.....
A company does not necessarily have to be profitable to make it worthwhile for investors to stay with it. The company was cash flowing well, and the investors were making money hand over fist with a great ROI....
That could be said for about every single airline out there and for that matter, every large corporation. Case in point-USAir comes out of bankruptcy and all of a sudden, billions of $$$ appear from thin air. It then purchased American. Same shady creative accounting is used at Angle Lake, genius. The savvy bean counters know their way around the system just enough to fudge the SEC filings.
Regardless of how much money VX was making hand over fist behind the scenes, none of it matters in the legal scheme of things. The bottom line is VX never showed a profit in the books. To the public's eyes and in our case with the arbitrators, it is just a shell of a company. You all deserve a staple job but thanks to spineless Eskimo ALPA, you are going to once again receive a windfall. You should have all gone the way of Aloha so thank your lucky stars.