EK and expansion.
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"A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going.
The system is destined to collapse because the earnings, if any, are less than the payments to investors. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.
The scheme is named after Charles Ponzi[1] who became notorious for using the technique in early 1920. Ponzi did not invent the scheme (for example Charles Dickens' 1857 novel Little Dorrit described such a scheme decades before Ponzi was born), but his operation took in so much money that it was the first to become known throughout the United States. Ponzi's original scheme was based on the arbitrage of international reply coupons for postage stamps; however, he soon diverted investors' money to support payments to earlier investors and himself."
Emirates is a cash machine. Unlike other Airlines based in nations with clear accounting rules and methods no one can really say what is the real profit. Dubai is de facto bankrupt and I cannot see any improvement in real estate or tourism which where the sectors in which they thought it was wise to diversify given the depletion of oil reserves. The idea was good but short term greed and again absence of rules made it a "bubble" where badly built, environmentally unfriendly and let's say it, unrealistic project and Dubai it self where heavily marketed bought and sold like equities multiple times in a day. Dubai is and remains an unfriendly place where to live, period, and it was a just a matter of time for investor to find out.
The Government is left with Emirates as an asset to produce cash and again is heavily ( and costly ) marketing the brand. They take advantage of labor laws prohibiting collective bargaining and unionizations to keep the cost of labor at the minimum and of the general situation of unaccountability The product it self is mediocre but the price is lower than competitor in 99 per cent of the cases which is the evidence of some form of unfair competition. Cash coming from Ek is used to repay the huge debt the Government has managed to dig and they are simply forced to grow.. or die. Thinking of EK conquering the world from that tiny state with no resources and with no real society and economy behind is just fool. Creative finance is the word.
Would it be nice to know how much EK is exposed to banks and to Abu Dhabi
but again there is no way to find out. Going public would be the wisest thing to do instead of being blackmailed by their " cousins" but the problem is they very simply cannot. Let's also not forget that the Arabian peninsula is not really a place to be now a day. Syria is getting worst and Iran is just a few miles away. Notwithstanding all the glitter and the proclamas I wouldn't bet a penny long term on EK... Concerning who and where I'm ..well.. who knows?? For sure I'm not one of 103 pro-democracy intellectuals and activists now in jail nor one of the Colombian mercenary now in the country to repress possible unrest. Enjoy the summer...
The system is destined to collapse because the earnings, if any, are less than the payments to investors. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.
The scheme is named after Charles Ponzi[1] who became notorious for using the technique in early 1920. Ponzi did not invent the scheme (for example Charles Dickens' 1857 novel Little Dorrit described such a scheme decades before Ponzi was born), but his operation took in so much money that it was the first to become known throughout the United States. Ponzi's original scheme was based on the arbitrage of international reply coupons for postage stamps; however, he soon diverted investors' money to support payments to earlier investors and himself."
Emirates is a cash machine. Unlike other Airlines based in nations with clear accounting rules and methods no one can really say what is the real profit. Dubai is de facto bankrupt and I cannot see any improvement in real estate or tourism which where the sectors in which they thought it was wise to diversify given the depletion of oil reserves. The idea was good but short term greed and again absence of rules made it a "bubble" where badly built, environmentally unfriendly and let's say it, unrealistic project and Dubai it self where heavily marketed bought and sold like equities multiple times in a day. Dubai is and remains an unfriendly place where to live, period, and it was a just a matter of time for investor to find out.
The Government is left with Emirates as an asset to produce cash and again is heavily ( and costly ) marketing the brand. They take advantage of labor laws prohibiting collective bargaining and unionizations to keep the cost of labor at the minimum and of the general situation of unaccountability The product it self is mediocre but the price is lower than competitor in 99 per cent of the cases which is the evidence of some form of unfair competition. Cash coming from Ek is used to repay the huge debt the Government has managed to dig and they are simply forced to grow.. or die. Thinking of EK conquering the world from that tiny state with no resources and with no real society and economy behind is just fool. Creative finance is the word.
Would it be nice to know how much EK is exposed to banks and to Abu Dhabi
but again there is no way to find out. Going public would be the wisest thing to do instead of being blackmailed by their " cousins" but the problem is they very simply cannot. Let's also not forget that the Arabian peninsula is not really a place to be now a day. Syria is getting worst and Iran is just a few miles away. Notwithstanding all the glitter and the proclamas I wouldn't bet a penny long term on EK... Concerning who and where I'm ..well.. who knows?? For sure I'm not one of 103 pro-democracy intellectuals and activists now in jail nor one of the Colombian mercenary now in the country to repress possible unrest. Enjoy the summer...
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Unlike other Airlines based in nations with clear accounting rules and methods no one can really say what is the real profit.
What was GFC caused by?
And what were the rest of the financial ''bubbles'' caused by in the really ''regulated nations''?
Regulated nations you assert, where citizens are looked after?Or more like hard working people being made redundant regularly, their pensions legally stolen whilst keeping businesses in bankruptcy protection and pumping digital cash to keep the financial massaging going.
Or a recent airline, based in an over regulated nation, made pilots/staff redundant only to share a £150 mil in bonuses is an example of an ''real airline'' in a regulated country?
By your own assertions you have been able to clearly demonstrate just how little you actually know about anything.
Scathing attacks because you were sacked or what?
If that was the case then don't you think that your attitude required some realignment, cause its clearly apparent that it did!
Sorry about thread drift but this guy is something else.
A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going.
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Right now it is said the capacity is 31 per hour, and that's squeezing it, given the radar capabilities (hardware and software).
Perhaps some of the "tower flowers" or approach folks can elaborate better.
Perhaps some of the "tower flowers" or approach folks can elaborate better.
Rumours are also now circulating about a coming long term (I think it was 9 MONTHS) runway closure for resurfacing, which will mean single runway ops, with the attendant decrease in capacity, for quite a while.
Doesn't help a bunch on the Tardi where 10 miles in trail is the rule.
Join Date: Nov 2010
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Whight Knight,
I'll tell you why your claims that your rental returns are increasing...... because they are NOT! Your assertion is such a blatant lie, it is shocking that you make that claim.
What,.....you got a 50 Dirham increase last month? Geeze, even in the Marina, rental incomes are still level after the 50% decrease over the past few years. You obviously have an agenda.
Please, even though you are trying to influence people so you can sell something or make a profit..... stop lying to pilots. There are many other people you can lie to, but don't try to influence prospective pilots coming here because that is just evil.
Properties in DxB are stagnant and will not increase in value for a long time. Even if you have a great place and have done well, you best get out of it soon. And this does not even take into account that most properties here, have an expiry date about 20 years after they are built.
Never listen to the likes of Whight Knight and that is the best advice you could ever receive. Just my opinion.
I'll tell you why your claims that your rental returns are increasing...... because they are NOT! Your assertion is such a blatant lie, it is shocking that you make that claim.
What,.....you got a 50 Dirham increase last month? Geeze, even in the Marina, rental incomes are still level after the 50% decrease over the past few years. You obviously have an agenda.
Please, even though you are trying to influence people so you can sell something or make a profit..... stop lying to pilots. There are many other people you can lie to, but don't try to influence prospective pilots coming here because that is just evil.
Properties in DxB are stagnant and will not increase in value for a long time. Even if you have a great place and have done well, you best get out of it soon. And this does not even take into account that most properties here, have an expiry date about 20 years after they are built.
Never listen to the likes of Whight Knight and that is the best advice you could ever receive. Just my opinion.
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Well, my returns are increasing, but then again its due to the properties being in Europe and Australasia, that combined with the discount USD, its been a good year.
EK expansion will continue into South America, China, and Africa, plus a few more ports of call in Europe (mostly eastern bits)
EK expansion will continue into South America, China, and Africa, plus a few more ports of call in Europe (mostly eastern bits)
Join Date: Apr 2009
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explain " my return are increasing" in real estate.
Either you are renting a place by the week...or how can you increase you rent just like that? Ah. yeah.. maybe in Dubai ...no such thing as a contract here... but in the rest of the world ? May be youe properties are increasing its value.. but still until you sell it..no return.
Some non resident investor friend of mine did not listen to me in 2006 and fell into the trap. They bought at the peak and lost 70%... and will never recover it. Even more sadly they cannot even enjoy the property.One tried... but he couldn't even sleep at night for the noise and hated the place after one week.. Some of the older EK pilots where smart enough to buy a the right time.. sell at the right time and get the **** out of the ****hole with a few extra bucks... no morality.. but still chapeux ! I
f you are stuck with properties now you are just dumb and stuck in Dubai as well and this is the very reason for people like White Knight to exist in this forum. They came here, thought of taking their share of the extra profit deriving from the exploitation of third world laborers and they, quite amusingly, got it in their arse.... Now they try to convince pilots to join just because a shared pain is less painfull and they pump Dubai just hoping that one day the money they lost will come back... Not in a million years ..mate...sorry..keep riding your white horse... or being ridden?
Either you are renting a place by the week...or how can you increase you rent just like that? Ah. yeah.. maybe in Dubai ...no such thing as a contract here... but in the rest of the world ? May be youe properties are increasing its value.. but still until you sell it..no return.
Some non resident investor friend of mine did not listen to me in 2006 and fell into the trap. They bought at the peak and lost 70%... and will never recover it. Even more sadly they cannot even enjoy the property.One tried... but he couldn't even sleep at night for the noise and hated the place after one week.. Some of the older EK pilots where smart enough to buy a the right time.. sell at the right time and get the **** out of the ****hole with a few extra bucks... no morality.. but still chapeux ! I
f you are stuck with properties now you are just dumb and stuck in Dubai as well and this is the very reason for people like White Knight to exist in this forum. They came here, thought of taking their share of the extra profit deriving from the exploitation of third world laborers and they, quite amusingly, got it in their arse.... Now they try to convince pilots to join just because a shared pain is less painfull and they pump Dubai just hoping that one day the money they lost will come back... Not in a million years ..mate...sorry..keep riding your white horse... or being ridden?
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sheiky
what is your problem? Real estate around here is not yours, so shut the #### up man!
You have been shown the way out of the pit, so let it be!
We all know, even newbees what the real estate situation is, not only here, but all around the world. You are not the only enlightened one, even if you believe so.
If someone tells you it works out for him, great, you cannot see into his balance sheets. By simply boasting that you still know better, it disqualifies you in the first degree.
Now enjoy whatever outfit has to bear you and please, please leave this forum, as you left the pit.
what is your problem? Real estate around here is not yours, so shut the #### up man!
You have been shown the way out of the pit, so let it be!
We all know, even newbees what the real estate situation is, not only here, but all around the world. You are not the only enlightened one, even if you believe so.
If someone tells you it works out for him, great, you cannot see into his balance sheets. By simply boasting that you still know better, it disqualifies you in the first degree.
Now enjoy whatever outfit has to bear you and please, please leave this forum, as you left the pit.
SS,
Thing is, if the flying DOESN'T back off soon, we are in REAL trouble!
Any reduction was only going to be a temporary bulge in numbers as we are just not capable of training at a rate to keep pace with deliveries. If we DON'T achieve a temporary surplus over the next few months, we are in real trouble, of the parking Aeroplanes variety.
I do think there was some "Blue sky" thinking involved, probably vastly underestimating attrition. 4% is still 100 pilots, and each captain leaving is TWO training courses needed, so there is about 40% of our training capacity gone just keeping numbers current.
Short of early retirements of airframes or deferral/leasing out of deliveries, I don't see a solution. They can double the pay, get all the top-class applicants they need, and still not be able to keep up with the pace of expansion.
But hey! There's always something interesting to talk about around here!!
Thing is, if the flying DOESN'T back off soon, we are in REAL trouble!
Any reduction was only going to be a temporary bulge in numbers as we are just not capable of training at a rate to keep pace with deliveries. If we DON'T achieve a temporary surplus over the next few months, we are in real trouble, of the parking Aeroplanes variety.
I do think there was some "Blue sky" thinking involved, probably vastly underestimating attrition. 4% is still 100 pilots, and each captain leaving is TWO training courses needed, so there is about 40% of our training capacity gone just keeping numbers current.
Short of early retirements of airframes or deferral/leasing out of deliveries, I don't see a solution. They can double the pay, get all the top-class applicants they need, and still not be able to keep up with the pace of expansion.
But hey! There's always something interesting to talk about around here!!
Join Date: Apr 2009
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Mate... for a start and to make it clear nobody showed me any door out.
Facts are:
The reputation of EK as an employer is horrible..too many horror stories gossiping around...
Dubai reputation as a place to live is even more compromised and the situation in the ME is getting bad due to the progressively intensifying rightful reaction to idiotic and out of time regimes like the one of Dubai and the UAE.
Increasing number of opportunities out there in countries where democracy and rule of law exists and where you can say what you think without being jailed.
The number of desperate individuals is reducing. Not so many SA guys escaping form the the bad black guys, not so many AU guys left, not so many pilots without any other options. Still unfortunately quite a bit of idiots believing what they are told in interviews, unable to see the **** underneath the fake gold plating and to put the place and the job in right perspective....
Facts are:
The reputation of EK as an employer is horrible..too many horror stories gossiping around...
Dubai reputation as a place to live is even more compromised and the situation in the ME is getting bad due to the progressively intensifying rightful reaction to idiotic and out of time regimes like the one of Dubai and the UAE.
Increasing number of opportunities out there in countries where democracy and rule of law exists and where you can say what you think without being jailed.
The number of desperate individuals is reducing. Not so many SA guys escaping form the the bad black guys, not so many AU guys left, not so many pilots without any other options. Still unfortunately quite a bit of idiots believing what they are told in interviews, unable to see the **** underneath the fake gold plating and to put the place and the job in right perspective....
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Sorry Sheiky but it's a well known fact you were shown the door for numerous indiscretions and violations. You got away with it for a long time but eventually your unprofessionalism caught up with you. The dogs in the street know what happened which is why nobody here takes you seriously. You have fallen to the rank of class clown.
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Dear Sheikh,
I'm one of the STUPID who joined in the last 12 months.
FYI I was not desperate and I really enjoy my life in Dubai.I'm sure there are a lot of opportunities out there for smart guys like you. cheers
p.s. happy to read that somebody already kicked you out of the door. Now I understand all your anger.
I'm one of the STUPID who joined in the last 12 months.
FYI I was not desperate and I really enjoy my life in Dubai.I'm sure there are a lot of opportunities out there for smart guys like you. cheers
p.s. happy to read that somebody already kicked you out of the door. Now I understand all your anger.
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Not that anyone really would believe him but just in case....Jack bauer is a simpleton who makes up things and then claims them as the truth. Seriously, JACK BAUER as a name? TORTURE is cool, if of course you think it might just help out Home Security. Ya gotta laugh at some people. I mean really, to come on here and suggest he knows someone who got fired for bad reasons and that is why his target is posting here..... is absurd. Jack, you are a sad man (or boy)
Wiz, I have to hand it to you, your last post was spot-on! Perhaps I was wrong about you, although one post does not a man make. Subject to your further posts, I might just have to ''take back'' some of my jabs at you. YOu are completely correct about attracting suitable candidates to this job. It's a big worry and I know for a fact it goes all the way to the top. Not about CC or management, they are a dime a dozen, but pilots and AME's.
Granted, I have no doubt our wonderful managers are considering some miinor policy changes to placade us and for sure 50% of us will comply so in the long term, we are screwed. I just don't care anymore.
Wiz, I have to hand it to you, your last post was spot-on! Perhaps I was wrong about you, although one post does not a man make. Subject to your further posts, I might just have to ''take back'' some of my jabs at you. YOu are completely correct about attracting suitable candidates to this job. It's a big worry and I know for a fact it goes all the way to the top. Not about CC or management, they are a dime a dozen, but pilots and AME's.
Granted, I have no doubt our wonderful managers are considering some miinor policy changes to placade us and for sure 50% of us will comply so in the long term, we are screwed. I just don't care anymore.
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Sitting,
Can you say with ABSOLUTE certainty that Sheiky wasn't fired (or asked impolitely to resign)? And with ABSOLUTE authority that Jack (and others you have accused recently) are all telling porky pies??
When all the while some of us are still waiting for you to admit you were wrong about your 5 week profit share (PBUH) forecast....... I guess we are in for a long wait!
Can you say with ABSOLUTE certainty that Sheiky wasn't fired (or asked impolitely to resign)? And with ABSOLUTE authority that Jack (and others you have accused recently) are all telling porky pies??
When all the while some of us are still waiting for you to admit you were wrong about your 5 week profit share (PBUH) forecast....... I guess we are in for a long wait!
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Jack... calm down mate... I know you are sad. It is friking hot outside...and you just got one of those indian night turns... damn !!
Again nobody ever showed me any door you ****er...
Shall we meet personally ? I might be able to make you understand a few things on Dubai..on Emirates and on this forum..
Pump up the airconditioner mate... heat gives to your head.
Again nobody ever showed me any door you ****er...
Shall we meet personally ? I might be able to make you understand a few things on Dubai..on Emirates and on this forum..
Pump up the airconditioner mate... heat gives to your head.