Delta Airlines Near Bankruptcy
By Kentroversy
With a price that is just $2.53 per share, the stock for nearly-bankrupt DELTA AIRLINES closed at a 43-year low on August 2, 2005, beating the $2.74 per share price of May 11, 2005. DELTA joins FORD MOTOR COMPANY and GENERAL MOTORS as merely the latest American corporation that is now at or near bankruptcy. DELTA AIRLINES is the nation's third-largest airline -- and this matter is most dire.
After reporting a $388 million dollar loss last month, the total losses for this company since January 2001 have been $10 BILLION DOLLARS. During this period, DELTA also cut 23,000 jobs in this country. Clearly, this level of loss cannot sustain itself indefinitely.
One problem has been the increased military security at airports -- most people have simply stopped traveling. The reader should check out some of the stories from travelers, about how they have been unlawfully searched, harassed, humiliated, and physically assaulted just to travel by airplane.
In my own life, I cannot see myself willfully boarding an airplane at this point in time, and I certainly wouldn't ask my family to subject themselves to this type of experience, either.
While the level of tourism is sharply down, DELTA's financial troubles do not rise to the impact of either FORD or GM -- which between them are nearly ONE-HALF TRILLION DOLLARS in debt that most likely will never be paid back. If they attempt to pay any of it -- you can be sure it will be for only pennies on the dollar.
With NAFTA (North American Free Trade Agreement), CAFTA (Central American Free Trade Agreement), and the NTAA (Free-Trade Area of the Americas) -- the globalists have taken what was essentially an Industrial Revolution based manufacture economy and turned it into a retail-based consumptive society -- where everything can either be bought or sold -- so long as the price is right. The town in which I live is almost exclusively wall-to-wall retail stores and restaurants -- and yet these businesses offer employment at a pay rate that is in the lower echelon -- and as such it cannot support a family.
In their effort to gain more control and power -- the globalists have reduced the standard of living in America -- that people no longer desire to travel. Furthermore, the hassle one must endure at any airport these days, is not worth it to most people. Fate, the great leveler, has balanced the scales, and if some of their globalist businesses go under, I shall not shed a tear.
With the rate at which DELTA AIRLINES is bleeding money -- the company is expected to file bankruptcy by the end of this year, according to Bear Stearns stock analyst David Strine.
The following source was used in the writing of this Kentroversy Paper:
Delta Stock Falls To 43-year Low
© 2005 The Kentroversy Papers




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