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Old 16th May 2003, 08:57
  #16 (permalink)  
Avago
 
Join Date: Mar 2003
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411A

The 'memo' to which your refer was actually the transcript of a briefing that was given last week in the lead up to the company's announcement that it would be asking all staff to take 4 weeks unpaid leave over the next 4 months. In that briefing the CEO outlined the company's financial position and all the various options that were available to boost the cash reserves. Selling aircraft to raise cash was one of the options mentioned, but the CEO quite clearly stated that this would be a complete waste of time in the current market. He also stated that the company was not about to run out of cash any time soon, but they were doing everything in their power to preserve the cash reserves in case the current situation drags on for a long time.

Yet again, a case of selective reporting by scum journalists trying to beat up a story.
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