Originally Posted by
ToiletDuck
Let me spell it out like this.
Bond Holders:"Hey guys we sure appreciate the money for the bonds that are coming due".
JO:"OH... yea... errr........... lets see I need to find a way to NOT pay you that money because... well... we don't have any. I know how about I avoid declaring BK right now by simply giving you a big bag of air and calling it stock repayment since it was agreed on in the past. That way my debts to you legally taken care of yet by the time you get to cash those shares out, if ever, they'll be worth nothing anyway! YAY I've avoided less people in line at the BK courts and can keep flying current contracts right now because if I had declared BK papa DAL would cut me off at the knees. Just a little more time to get golden parachute all lined up and papers burned so I don't go to prison!!" "Hey you there's porn on all the computers upstairs go start erasing everything!".
The #1 funniest thing I've read today. And that's saying a lot. Three other forums I've been enjoying on one of my last overnights.
Originally Posted by
paxhauler85
Example: One of JO's companies owns the hotel we use in PHX to put up F/A's and pilots during training.
He pays himself, from himself. There are many other such examples.
Absolutely amazing. You know, we were at one time staying at a hotel in Atlanta for training that was involved with our management. To what regard, I'm not 100% sure. . .but. . .rumor has it that it was financial kickbacks. That ended once the word got out though. Or so I'm told.
Originally Posted by
rickair7777
Now I get it! MAGs net value consists predominantly of mortgaged airplanes, hangers, and MAPD! Maybe they can sell the MAPD students as slaves...that's what they were going use them for anyway
hah!
The guy sure knows how to run a business. . .or manage his little hobby. Anyone know where his family has their plots of graves?