[Rhodes22-list] Financial News

[brad haslett]

This was written "tongue-in-cheek" but its so close to
the truth its almost not funny. US Airways did post a
profit in case you missed it. Brad


May 06, 2003 
US Airways Shocks Wall St., Makes Profit 
(2003-05-06) -- US Airways performed an odd feat for
its industry in the first quarter -- it made a profit.
The $1.63 billion profit came in the midst of
bankruptcy restructuring.

"We've finally done what has eluded us, and many other
airlines, for so long," said a U.S. Airways spokesman.
"We attribute the gain to visionary leadership. After
all, it was our executives who decided we would
declare bankruptcy, and terminate our pilots' pension
plan. I only marvel that we didn't do this sooner."

The spokesman said the company's success proves that
there are now two models for profitability in the
industry. The "Southwest model" calls for low fares,
reliable cost-structure and fun customer service. The
US Airways model entails simply refusing to pay people
to whom you owe money.

"Either way is a recipe for success," he added. "We
chose the road more traveled, and that has made all
the difference."



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