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According to the US Treasury's Air Transportation Stabilization Board
website: http://www.ustreas.gov/offices/domes...activity.shtml Northwest Airlines http://www.nwa.com is _not_ among those airlines who have applied for and received so-called "bailout" funds from the Federal Government, nor are any of the other largest US Airlines, with the exception of UAL who have yet to have any of their applications approved. Interestingly, HR2926 authorized $15B, of which $10B were loan guarantees (UAL case) and $5B in direct grants. Oddly, there is no mention of any grant funds being requested nor dispersed via ATSB though the industry stated losses were claimed to be $330M/day and would have qualified for the grants. Lou Dobbs made the assertion on his 9/15 program that NWA had spent $400M of these funds on Airbus acquisitions. That may have been citing the documentary snippet 'American Jobs' that he was borrowing from that week. I note there is no mention of this assertion in the transcripts of that day's program. Nor have I found a retraction in subsequent programs. I e-mailed CNN/Lou Dobbs for clarification on this assertion. Interestingly, I found another assertion elsewhere that 50 percent of Airbus derives from US sources8^) I have no real problem with globalized industries, other than valued technologies are virtually given away. However, U.S. deflation is a relatively painful process though it's at least 25 years overdue. The flip side may mean we do things a heap smarter domestically sooner rather than later. Frank [way off topic] |
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