aviator wrote:
I am not sure that you are really trying to be helpful here, so maybe it is time to let it go. After all, it is not your retirement that is gone. Rationalizing why it should happen to others adds little comfort to those that have seen their life savings (deferred earnings) gone with little or no chance to make it up.
My retirement? For the most part of my eventual retirement, you are correct, sir, it is not gone. However, that part of my retirement that was to come from my years of airline employment most assuredly is – gone that is. So, please, don’t be so quick to stuff me (or anyone else for that matter) into a conveniently labeled cubbyhole and dismiss everything that follows.
As for my posts or my intent being “helpful” – I guess I’ll leave that to be considered by those who read and determine it on their own. While I would very much like to have it be true, I would indeed be quite surprised if every one of my posts were “helpful” to everyone, all the time – as I would assume you feel about the posts you provide. The purpose of my postings was to provide merely another perspective in addition to those already offered – the primary point being that not all business failures can, nor should be, laid at the feet of the company CEO – whether or not s/he escapes from that failure with the proverbial “golden parachute.” Often times it has to do with the state of the economy and the proclivities of those who “used to” purchase the goods or services that are some how now found to be wanting. Perhaps you don’t recall or were never aware but Drive-In movie theaters “used to be” a thriving business across the US. Was it the CEOs of the large chain drive-ins that caused their demise? I doubt it. In fact, movie theaters in general are feeling the impact of VCR and DVD rentals. Is that due to the operating procedures of movie theaters? I doubt that also. What used to be a very large market in long distance telephone service is being overtaken not so slowly by the no-roaming, no-long-distance-charge plans available from virtually every cell phone service provider out there. Is that the fault of Ma Bell’s or AT&T’s CEOs? Same answer.
Yes, there are airlines that have gone out of business. Others have been bought up by larger organizations. Others are struggling mightily. Some would say that there are only two types of airlines – those that have experienced devastating circumstances and those that will. I would wager that the instability in the airline business today is not over – not by a good margin. Back when airline de-regulation went into effect, its architect estimated that “in the end” there would likely be 2 major airlines and a dozen or so regional airlines still operating in the US. The longer the US airline business wallows around looking for a successful formula, the more prophetic Alfred Kahn’s statement seems to be.
First, most airline pilots are pretty well aware of the "bath tub" of which you elaborate. It is also knows by most as Economics 101.
I would agree with you that most airline pilots are aware of this analogy – regardless of what moniker you attach. That doesn’t necessarily mean that each remembers or pays much attention to those relationships when they are on the receiving end of a furlough or pay-cut notice. (Yes, been there. Done that.) And, the bottom line is still the bottom line. The bathtub analogy is still present and it will take its toll – whether you choose to berate me about it or not. And, please, I am not trying to “rationalize” why loosing your retirement should happen at all, to anyone. I’m just pointing out that it DOES happen. It has happened before; it continues to happen today; and, unfortunately, I believe it will continue to happen in the future. Certainly not every such circumstance is the fault of the company CEO.
And, I would be somewhat remiss if I didn’t address your choice of “word-morphing” in your last post salutation. Referencing a common dictionary – the way you chose to address me is referred to as either “extremely violent,” or as “going to extreme lengths in expressing or pursuing a feeling, interest, or opinion.” As I am sure you did not intend to imply that you felt that I am “extremely violent” – as you certainly do not know me at all - I will presume that your intent was the second option. I humbly accept your characterization of my desire to express my opinion.
I wish you the same peace you offered.
________
AirRabbit