Word: delta
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...stands as the only profitable U.S. airline among the top eight. AMR, parent of American Airlines, the world's largest, just reported a third-quarter loss of $924 million. U.S. Airways is reorganizing under bankruptcy protection, and industry experts expect it will soon be joined by United Airlines. Delta has announced that "to survive for the long term" it will lay off an additional 7,000 to 8,000 employees, meaning it will have lost nearly a quarter of its work force since Sept. 11. Among major carriers, Alaska Air, ranked ninth by operating revenues, is expected to report that...
...does Southwest do it? The answer starts with lower costs. The Air Transport Association reports that other major airlines (American, United, Delta, Northwest, Continental, U.S. Airways, America West and Alaska) had unit costs--measured in cost per seat for each mile flown--nearly 100% higher than Southwest. A study by the consulting arm of Unisys concluded that the other majors would need to cut spending a staggering $18 billion just to level the playing field with Southwest. The airline "has long-term, systemic advantages the other carriers can likely never match," says Vaughn Cordle, an airline pilot who heads...
...August, UBS Warburg reports, General Motors had a whopping pension-fund shortfall of $22.2 billion, equal to 83% of the company's market value. Excluding tax benefits, $4 of the first $5 that GM earns per share each year stands to get eaten up by pension obligations. Delta Airlines' shortfall is $3.5 billion, equal to 1 1/2 times its market value. The company is essentially in business to pay retirement benefits--yet it still doesn't make enough...
...trying to bring a few more Greek letters to campus. As head of the body that oversees the two Harvard sororities, Simon is responsible for seeking out a third. Kappa Alpha Theta had already voted to bring a third sorority on campus last spring and after Delta Gamma also voted unanimously on Sept. 29 in favor, Simon got the official green light to contact the national sororities...
...have to wait and see.” On Adams’ gentle directive, a surly stage technician repositioned a microphone so that Adams’ fast-tapping foot could act as provisional percussion. The effect was brilliant, recalling the simple vitality and soulfulness of old Delta blues recordings...