Originally Posted by
Buck Rogers
So the Forbes article is from an acknowledged long time critic of Delta's refinery purchase. "Well this ought to be fair and balanced"...I think to myself.So I add up the stated losses $303 Million, add back the profits of $387 million....hmmm...whether I use "new " math or old math, it still seems to be a profit of almost $85 Million ....of course they haven't reported the 2017 results.....so the profit/loss could vary but I feel no matter how it shakes out it will be less significant than a hair on a pimple. So, pilots term the Trainer purchase a "blunder", debacle" of whatever.....same ol same ol
Since it is less than a compelling performance one way or the other, I applaud them on at least trying(I feel there are some tax write-offs that may have also helped). I put it in the same realm as starting service to destinations...Havana comes to mind...leaping into the foray and then later modifying, curtailing, or expanding the service.
"And the haters gonna hate, hate, hate, hate, hate
Baby, I'm just gonna shake, shake, shake, shake, shake
I shake it off, I shake it off
https://youtu.be/nfWlot6h_JM?list=RDnfWlot6h_JM&t=100
You completely overlook the cost to acquire and upgrade the property which was over 1 billion dollars when you add in all the upgrades over the years and costs in transporting the crude. You also overlook the long term liability that refinery ownership involves. The refinery has not met a single item in the business case Delta used to justify the purchase.
What seems odd is pilots and pilots on this forum in general attack Delta management on everything they do. Look at tha abuse heaped on the various methods they used to improve ontime performance which has been a resounding success verses the praise for the refinery that has been unsuccessful.
It has however been great for UAL in Newark and other large NY airlines. Not so great for Delta.