Originally Posted by
EWR73FO
One item that has not be mentioned is the prepayment of debt. Both paid a total of $295M for the quarter and prepaid $140M of debt as well. Paid almost 1/2B in debt in one quarter while increasing their cash postion by nearly $800M. Sounds like the new UAL has cash to burn. If mgmt can increase their cash balance that much and still have enough to prepay debt, then they have more than enough to achieve the contract we want and deserve while still maintaining the prosperity of the new UAL. The problem rests now with the dysfunctional CAL union.
Don't forget when the companies issue bonds for "general corporate purposes." Guess what? Employee salaries are a general corporate purpose if you ask me. If they can raise hundreds of millions at will for copier toner, elite boarding carpets, and food-for-sale menus, they can sure do the same to pay their employees.
F United P M