Originally Posted by
yoke jerker
I learned this in Econ101...when you can't meet variable costs of which labor is a component, you're done. just a matter of time. and you can't grow without an injection of capital. spirit would be toast if the founder hadn't sold out to the doctor who sold out to the california venutre captial fund ...
Sounds like you paid attention during Econ 101.
I agree.
Pace employees have told me that August is their slow month but things pick up as they get closer to September with more seasonal customers returning. If Pace can't make payroll now with their operation in Atlantic City picking up (two aircraft flying almost 5 days a week), their operation in San Juan set to begin plus the existing sports charters, I figure that they may have a few weeks until the cash
completely runs out. As a 121 certificat holder, when that happens, the Feds get "very interested"; FAA ramp checks become the common place; fuel vendors put you on COD; vendors who have "carried you on the books" take legal action and the ship begins taking on more water than the bilge pumps can handle.
Too bad...it had potential
G'Night Mates
