Recalls Begin
03-28-2021 | 10:42 AM
#51
Line Holder
Joined: Aug 2016
Posts: 54
Likes: 0
Bloomberg: The pandemic proved how much work could be accomplished with a screen and an internet connection, much to the detriment of airline profits.
I spend a lot of time around lawyers, so I can tell you with some authority that they were thrilled by one aspect of their work lives during the pandemic. They stopped flying. Lawyers who spent most weeks jetting from one courtroom to another were suddenly spending their time at home, communing with their families for the first time since forever.
More to the point, at least for our purposes, they were still able to work, thanks to Zoom and other conference apps. Status hearings that required cross-country travel could now be wrapped up from home in an hour or so. Most depositions could be conducted by Zoom as well. Yes, complex trials and important hearings would require lawyers to appear in person, but the routine stuff? No way. Not a single lawyer I know said they would ever go back to the bad old days of nonstop travel.
The airlines say that there is pent-up demand for air travel among people who have been largely cooped up in their homes for the past year. I don’t doubt it. But you know how most people buy tickets: They try to purchase them far enough in advance so that they’re paying as little as possible. Vacationers are important to the airlines — but they’re not nearly as important as business travelers, who often buy tickets at the last moment and are far less price-sensitive because their companies are picking up the tab. According to travel software firm Trondent Development Corp., business travelers account for 12% of the passenger base but 75% of airline profits.
A lot of those profits are never coming back. The law isn’t the only industry that has come to realize that much of its travel was unnecessary. Salespeople might need to travel to close a deal, but not for routine catch-ups with clients. Consultants can offer their advice from their home office. Internal business meetings really don’t require the senior vice president of marketing to fly in from Chicago or San Francisco or wherever.
The internet, through Netflix and other streaming services, disrupted the television industry, causing profits to tumble. Facebook and Google decimated the newspaper industry. And now, thanks to Zoom and the pandemic, the airlines are going to discover what it’s like to be disrupted. It’s not going to be fun for their shareholders or their employees. But it’s inevitable.
I spend a lot of time around lawyers, so I can tell you with some authority that they were thrilled by one aspect of their work lives during the pandemic. They stopped flying. Lawyers who spent most weeks jetting from one courtroom to another were suddenly spending their time at home, communing with their families for the first time since forever.
More to the point, at least for our purposes, they were still able to work, thanks to Zoom and other conference apps. Status hearings that required cross-country travel could now be wrapped up from home in an hour or so. Most depositions could be conducted by Zoom as well. Yes, complex trials and important hearings would require lawyers to appear in person, but the routine stuff? No way. Not a single lawyer I know said they would ever go back to the bad old days of nonstop travel.
The airlines say that there is pent-up demand for air travel among people who have been largely cooped up in their homes for the past year. I don’t doubt it. But you know how most people buy tickets: They try to purchase them far enough in advance so that they’re paying as little as possible. Vacationers are important to the airlines — but they’re not nearly as important as business travelers, who often buy tickets at the last moment and are far less price-sensitive because their companies are picking up the tab. According to travel software firm Trondent Development Corp., business travelers account for 12% of the passenger base but 75% of airline profits.
A lot of those profits are never coming back. The law isn’t the only industry that has come to realize that much of its travel was unnecessary. Salespeople might need to travel to close a deal, but not for routine catch-ups with clients. Consultants can offer their advice from their home office. Internal business meetings really don’t require the senior vice president of marketing to fly in from Chicago or San Francisco or wherever.
The internet, through Netflix and other streaming services, disrupted the television industry, causing profits to tumble. Facebook and Google decimated the newspaper industry. And now, thanks to Zoom and the pandemic, the airlines are going to discover what it’s like to be disrupted. It’s not going to be fun for their shareholders or their employees. But it’s inevitable.
yawn.
$61.29
That’s Friday’s closing price for LUV, just off 2.5 year highs. Keep hating. I’ll stay long.
03-28-2021 | 11:06 AM
#52
Gets Weekends Off
Joined: Nov 2012
Posts: 2,030
Likes: 0
Zoom doesn’t replace a golf course, bar or spa when it comes to putting in the face time necessary to negotiate and close deals.
After 9/11 business travel was not going to come back, they said. Eventually some businesses will realize that being there in person will give them an edge over the competition that works from home. Then the competition, not wanting to be outdone will start meeting in person also. Then the Zoomers will need to be there in person also. Pretty soon everyone will be meeting in person to make sure no one else has the competitive edge.
After 9/11 business travel was not going to come back, they said. Eventually some businesses will realize that being there in person will give them an edge over the competition that works from home. Then the competition, not wanting to be outdone will start meeting in person also. Then the Zoomers will need to be there in person also. Pretty soon everyone will be meeting in person to make sure no one else has the competitive edge.
03-28-2021 | 02:24 PM
#53
Line Holder
Joined: Mar 2017
Posts: 460
Likes: 2
Zoom doesn’t replace a golf course, bar or spa when it comes to putting in the face time necessary to negotiate and close deals.
After 9/11 business travel was not going to come back, they said. Eventually some businesses will realize that being there in person will give them an edge over the competition that works from home. Then the competition, not wanting to be outdone will start meeting in person also. Then the Zoomers will need to be there in person also. Pretty soon everyone will be meeting in person to make sure no one else has the competitive edge.
After 9/11 business travel was not going to come back, they said. Eventually some businesses will realize that being there in person will give them an edge over the competition that works from home. Then the competition, not wanting to be outdone will start meeting in person also. Then the Zoomers will need to be there in person also. Pretty soon everyone will be meeting in person to make sure no one else has the competitive edge.
Travel is a big perk with a lot of jobs. I have a few neighbors chomping at the bit to start rollin coal for work again.
03-28-2021 | 05:52 PM
#54
Gets Weekends Off
Joined: Apr 2007
Posts: 143
Likes: 0
Bloomberg: The pandemic proved how much work could be accomplished with a screen and an internet connection, much to the detriment of airline profits.
I spend a lot of time around lawyers, so I can tell you with some authority that they were thrilled by one aspect of their work lives during the pandemic. They stopped flying. Lawyers who spent most weeks jetting from one courtroom to another were suddenly spending their time at home, communing with their families for the first time since forever.
More to the point, at least for our purposes, they were still able to work, thanks to Zoom and other conference apps. Status hearings that required cross-country travel could now be wrapped up from home in an hour or so. Most depositions could be conducted by Zoom as well. Yes, complex trials and important hearings would require lawyers to appear in person, but the routine stuff? No way. Not a single lawyer I know said they would ever go back to the bad old days of nonstop travel.
The airlines say that there is pent-up demand for air travel among people who have been largely cooped up in their homes for the past year. I don’t doubt it. But you know how most people buy tickets: They try to purchase them far enough in advance so that they’re paying as little as possible. Vacationers are important to the airlines — but they’re not nearly as important as business travelers, who often buy tickets at the last moment and are far less price-sensitive because their companies are picking up the tab. According to travel software firm Trondent Development Corp., business travelers account for 12% of the passenger base but 75% of airline profits.
A lot of those profits are never coming back. The law isn’t the only industry that has come to realize that much of its travel was unnecessary. Salespeople might need to travel to close a deal, but not for routine catch-ups with clients. Consultants can offer their advice from their home office. Internal business meetings really don’t require the senior vice president of marketing to fly in from Chicago or San Francisco or wherever.
The internet, through Netflix and other streaming services, disrupted the television industry, causing profits to tumble. Facebook and Google decimated the newspaper industry. And now, thanks to Zoom and the pandemic, the airlines are going to discover what it’s like to be disrupted. It’s not going to be fun for their shareholders or their employees. But it’s inevitable.
I spend a lot of time around lawyers, so I can tell you with some authority that they were thrilled by one aspect of their work lives during the pandemic. They stopped flying. Lawyers who spent most weeks jetting from one courtroom to another were suddenly spending their time at home, communing with their families for the first time since forever.
More to the point, at least for our purposes, they were still able to work, thanks to Zoom and other conference apps. Status hearings that required cross-country travel could now be wrapped up from home in an hour or so. Most depositions could be conducted by Zoom as well. Yes, complex trials and important hearings would require lawyers to appear in person, but the routine stuff? No way. Not a single lawyer I know said they would ever go back to the bad old days of nonstop travel.
The airlines say that there is pent-up demand for air travel among people who have been largely cooped up in their homes for the past year. I don’t doubt it. But you know how most people buy tickets: They try to purchase them far enough in advance so that they’re paying as little as possible. Vacationers are important to the airlines — but they’re not nearly as important as business travelers, who often buy tickets at the last moment and are far less price-sensitive because their companies are picking up the tab. According to travel software firm Trondent Development Corp., business travelers account for 12% of the passenger base but 75% of airline profits.
A lot of those profits are never coming back. The law isn’t the only industry that has come to realize that much of its travel was unnecessary. Salespeople might need to travel to close a deal, but not for routine catch-ups with clients. Consultants can offer their advice from their home office. Internal business meetings really don’t require the senior vice president of marketing to fly in from Chicago or San Francisco or wherever.
The internet, through Netflix and other streaming services, disrupted the television industry, causing profits to tumble. Facebook and Google decimated the newspaper industry. And now, thanks to Zoom and the pandemic, the airlines are going to discover what it’s like to be disrupted. It’s not going to be fun for their shareholders or their employees. But it’s inevitable.
03-28-2021 | 09:53 PM
#55
— No Relief On Scope —
Joined: Mar 2015
Posts: 4,532
Likes: 306
From: B737 Left Seat
03-29-2021 | 02:28 PM
#57
Line Holder
Joined: Jun 2016
Posts: 51
Likes: 0
When the Fed raises interest rates, that is a good sign for the economy in general; increased taxes on individuals will not occur unless you make more than $400,000 / yr, which the vast majority of Americans do not. Corporate interest rates might go up a little bit (if filibuster is reformed), but this is not a significant problem for the economy, especially considering how much the debt and deficit went up in large part due to the rates being lowered so dramatically, so abruptly.
04-08-2021 | 11:31 AM
#60
At your mom's house
Joined: Jun 2008
Posts: 3,675
Likes: 449
From: cpt 737
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