Charles Schumer's advice to AirTran…
07-14-2008 | 05:08 AM
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Charles Schumer's advice to AirTran…
Schumer: AirTran made “a mistake” by leaving Stewart
WASHINGTON – AirTran Airways’ plan to pull service from Stewart Airport at Newburgh later this year was “a mistake,” says U.S. Senator Charles Schumer. The lawmaker, who is one of the airport’s biggest boosters, told MidHudsonNews.com that other cutbacks with JetBlue's service are, hopefully, temporary.
JetBlue will end its end its West Palm Beach service and drop one of two flights to Orlando on September 2, the day before AirTran leaves Stewart.
“JetBlue has told me their long-term commitment to Stewart is a solid as ever. This was seasonal and they are going to reexamine it when the winter season comes,” he said. “I think AirTran made a mistake, but the discount airlines are the first to get hit.”
Both airlines cited the rising cost of fuel as the reasons for their decisions.
Schumer said in the long term, Stewart will develop into a viable airport that will be used to ease some of the onerous traffic congestion at Newark, LaGuardia and JFK airports.
WASHINGTON – AirTran Airways’ plan to pull service from Stewart Airport at Newburgh later this year was “a mistake,” says U.S. Senator Charles Schumer. The lawmaker, who is one of the airport’s biggest boosters, told MidHudsonNews.com that other cutbacks with JetBlue's service are, hopefully, temporary.
JetBlue will end its end its West Palm Beach service and drop one of two flights to Orlando on September 2, the day before AirTran leaves Stewart.
“JetBlue has told me their long-term commitment to Stewart is a solid as ever. This was seasonal and they are going to reexamine it when the winter season comes,” he said. “I think AirTran made a mistake, but the discount airlines are the first to get hit.”
Both airlines cited the rising cost of fuel as the reasons for their decisions.
Schumer said in the long term, Stewart will develop into a viable airport that will be used to ease some of the onerous traffic congestion at Newark, LaGuardia and JFK airports.
07-14-2008 | 05:39 AM
#2
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From: 757/767 FO
There's nothing like a career politician pretending to know what's best for the private sector.
07-14-2008 | 07:45 AM
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Schumer's always has all sorts of really great opinions about airlines and how they should operate! He'll bash any airline he can get this hands on. The man is a waste of hot air, and hot air is cheap.
07-14-2008 | 08:10 AM
#5
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From: Assumed
If you listen to Schumer, the terrorists win.
Not really, but seriously. The guy just loves the sound of his own voice. Thats why if you really listen to him talk, either in public addresses or on radio or television, anyone can see the raw sewage that is coming out of his mouth in the form of the English language...
Not really, but seriously. The guy just loves the sound of his own voice. Thats why if you really listen to him talk, either in public addresses or on radio or television, anyone can see the raw sewage that is coming out of his mouth in the form of the English language...
07-14-2008 | 08:39 AM
#6
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Not in the case of IndyMac. This man is going to cost this country a lot of money! Imagine what his "hot air" can do to the airline industry if he can have this kind of impact in financial market.
Schumer on IndyMac's failure: Stop blaming me! | Money & Company | Los Angeles Times
Sen. Chuck Schumer today went on another counterattack against federal banking regulators who’ve blamed him for helping cause the failure of IndyMac Bank.
Pasadena-based IndyMac, with $32 billion in assets, was seized by the government Friday. The loss-ridden mortgage lender had faced an outflow of deposits since Schumer on June 26 made public a letter he sent to the Office of Thrift Supervision and the Federal Deposit Insurance Corp., saying he was "concerned that IndyMac's financial deterioration poses significant risks to both taxpayers and borrowers."
Schumer’s decision to go public with those comments triggered a firestorm in Washington. Regulators on July 2 said he was contributing to "rumors and innuendo" about the bank that could hasten its demise.
On Friday, regulators specifically fingered Schumer for IndyMac’s failure. The Office of Thrift Supervision said in its statement announcing the seizure that "the immediate cause of the closing was a deposit run that began and continued" after Schumer went public with his concerns.
"This institution failed due to a liquidity crisis," OTS Director John Reich said Friday. "Although this institution was already in distress, I am troubled by any interference in the regulatory process," a reference to Schumer.
Schumer on IndyMac's failure: Stop blaming me! | Money & Company | Los Angeles Times
Sen. Chuck Schumer today went on another counterattack against federal banking regulators who’ve blamed him for helping cause the failure of IndyMac Bank.
Pasadena-based IndyMac, with $32 billion in assets, was seized by the government Friday. The loss-ridden mortgage lender had faced an outflow of deposits since Schumer on June 26 made public a letter he sent to the Office of Thrift Supervision and the Federal Deposit Insurance Corp., saying he was "concerned that IndyMac's financial deterioration poses significant risks to both taxpayers and borrowers."
Schumer’s decision to go public with those comments triggered a firestorm in Washington. Regulators on July 2 said he was contributing to "rumors and innuendo" about the bank that could hasten its demise.
On Friday, regulators specifically fingered Schumer for IndyMac’s failure. The Office of Thrift Supervision said in its statement announcing the seizure that "the immediate cause of the closing was a deposit run that began and continued" after Schumer went public with his concerns.
"This institution failed due to a liquidity crisis," OTS Director John Reich said Friday. "Although this institution was already in distress, I am troubled by any interference in the regulatory process," a reference to Schumer.
07-14-2008 | 08:51 AM
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Not in the case of IndyMac. This man is going to cost this country a lot of money! Imagine what his "hot air" can do to the airline industry if he can have this kind of impact in financial market.
Schumer on IndyMac's failure: Stop blaming me! | Money & Company | Los Angeles Times
Sen. Chuck Schumer today went on another counterattack against federal banking regulators who’ve blamed him for helping cause the failure of IndyMac Bank.
Pasadena-based IndyMac, with $32 billion in assets, was seized by the government Friday. The loss-ridden mortgage lender had faced an outflow of deposits since Schumer on June 26 made public a letter he sent to the Office of Thrift Supervision and the Federal Deposit Insurance Corp., saying he was "concerned that IndyMac's financial deterioration poses significant risks to both taxpayers and borrowers."
Schumer’s decision to go public with those comments triggered a firestorm in Washington. Regulators on July 2 said he was contributing to "rumors and innuendo" about the bank that could hasten its demise.
On Friday, regulators specifically fingered Schumer for IndyMac’s failure. The Office of Thrift Supervision said in its statement announcing the seizure that "the immediate cause of the closing was a deposit run that began and continued" after Schumer went public with his concerns.
"This institution failed due to a liquidity crisis," OTS Director John Reich said Friday. "Although this institution was already in distress, I am troubled by any interference in the regulatory process," a reference to Schumer.
Schumer on IndyMac's failure: Stop blaming me! | Money & Company | Los Angeles Times
Sen. Chuck Schumer today went on another counterattack against federal banking regulators who’ve blamed him for helping cause the failure of IndyMac Bank.
Pasadena-based IndyMac, with $32 billion in assets, was seized by the government Friday. The loss-ridden mortgage lender had faced an outflow of deposits since Schumer on June 26 made public a letter he sent to the Office of Thrift Supervision and the Federal Deposit Insurance Corp., saying he was "concerned that IndyMac's financial deterioration poses significant risks to both taxpayers and borrowers."
Schumer’s decision to go public with those comments triggered a firestorm in Washington. Regulators on July 2 said he was contributing to "rumors and innuendo" about the bank that could hasten its demise.
On Friday, regulators specifically fingered Schumer for IndyMac’s failure. The Office of Thrift Supervision said in its statement announcing the seizure that "the immediate cause of the closing was a deposit run that began and continued" after Schumer went public with his concerns.
"This institution failed due to a liquidity crisis," OTS Director John Reich said Friday. "Although this institution was already in distress, I am troubled by any interference in the regulatory process," a reference to Schumer.
07-14-2008 | 09:27 AM
#8
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someone once said the most dangerous airspace in the world was that airspace between Chuckie and a microphone. Don't try to get between him and a camera or mike...
07-14-2008 | 09:58 AM
#9
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From: B-737NG preferably in first class with a glass of champagne and caviar
Sorry have to disagree… the most dangerous vacuous airspace is between the ears of that pin head in the White House.
07-14-2008 | 10:09 AM
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From: CFI
Chuck Schumer created a run on the bank when he questioned Indy Mac Back's liquidity a month ago. The bank wasn't even on the list of banks thought to be in trouble. When someone of his unfortunate power makes a statement like that, it will cause a reaction. Now, he's trying to tell airlines what airport they should use.
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