Saturday, April 24, 2004
I guess I just don’t get it when it comes to how big business and government operate their finances. It would seem to me that if you’re deep in debt, your overriding concern should be to get out of debt. But in two instances of current events, I’m being proved wrong.
Delta Airlines, the second biggest carrier in the nation, has staggering debts that are coming due. In the first four months of this year, the big rating companies have downgraded Delta's credit rating, not once, but twice. They don’t see how Delta is going to meet the payments on their notes when they come due.
But the first action by the new CEO was to spend money to hire an expensive Hollywood designer to change the employees’ uniforms.
If Delta can’t afford to buy planes, how can it afford to buy uniforms? How does buying uniforms help Delta control costs?
The federal government has been running a skyrocketing deficit as well. President Bush blames runaway spending on Congress, and then announces new spending initiatives.
Earlier this month, there were strong hints that the Air Force’s F-22 ultimate fighter aircraft may be too expensive to build. This week, it’s being reported that the Air Force is field testing new utility uniforms.
Some Air Force general somewhere has decided that after more than half a century, it's no longer acceptable that their work clothes are the same green color as the Army’s, so the taxpayers are going to have to buy them new uniforms.
If the Air Force can’t afford to buy planes, how can it afford to buy uniforms? How does buying uniforms help the government to control spending?
I must have missed the business class in turnaround strategy that said when things look really bleak, buy new uniforms for the employees, and everything will get better. Or maybe it’s something unique to the aviation world.
Delta Airlines, the second biggest carrier in the nation, has staggering debts that are coming due. In the first four months of this year, the big rating companies have downgraded Delta's credit rating, not once, but twice. They don’t see how Delta is going to meet the payments on their notes when they come due.
But the first action by the new CEO was to spend money to hire an expensive Hollywood designer to change the employees’ uniforms.
If Delta can’t afford to buy planes, how can it afford to buy uniforms? How does buying uniforms help Delta control costs?
The federal government has been running a skyrocketing deficit as well. President Bush blames runaway spending on Congress, and then announces new spending initiatives.
Earlier this month, there were strong hints that the Air Force’s F-22 ultimate fighter aircraft may be too expensive to build. This week, it’s being reported that the Air Force is field testing new utility uniforms.
Some Air Force general somewhere has decided that after more than half a century, it's no longer acceptable that their work clothes are the same green color as the Army’s, so the taxpayers are going to have to buy them new uniforms.
If the Air Force can’t afford to buy planes, how can it afford to buy uniforms? How does buying uniforms help the government to control spending?
I must have missed the business class in turnaround strategy that said when things look really bleak, buy new uniforms for the employees, and everything will get better. Or maybe it’s something unique to the aviation world.
