OT - Dow plunges 1,175 - worst point decline in history

[verticaldoug]

Originally Posted by Clean39T

Just going to leave this here since we're talking about things that make our bloods boil:

I don't mind people bashing LUV but they should at least get their facts right. LUV spent zero of the bailout money on stock buybacks.

The 5.6b was the 2017, 2018, 2019 when LUV spent around 450mm per quarter on stock buybacks and 0.18/share on dividends.

It suspended stock buybacks after Q1 2020, and suspended dividends. It also sold $2.29b of stock on 4/28/2020 to shore up its equity. It planned to start paying dividends in 2023. It has no plans for stock buybacks.

The CEO (Bob Jordan) was paid 3mm in 2019, 3.2mm in 2020, and 3.6mm in 2021.... not given a 9mm raise.

Essentially, everything the Twitter Troll above wrote on twitter was wrong and aggregate values over many years.
https://www.southwestairlinesinvesto...stor%20Day.pdf

This is Dec 7 2022 investor day presentation. Slide 18 has capital allocation priorities .... No where does it state stock buybacks....
More importantly, LUV surpassed its 2019 staffing levels in May 2022... It still plans to hire an additional 10,000 employees. This is something I have mentioned in previous posts regarding Delta and American. They lost a huge amount of institutional knowledge in the pandemics as some experienced employees just left and did not come back. The productivity of the airlines is way down.

[Clean39T]

Originally Posted by verticaldoug

I don't mind people bashing LUV but they should at least get their facts right. LUV spent zero of the bailout money on stock buybacks.

The 5.6b was the 2017, 2018, 2019 when LUV spent around 450mm per quarter on stock buybacks and 0.18/share on dividends.

It suspended stock buybacks after Q1 2020, and suspended dividends. It also sold $2.29b of stock on 4/28/2020 to shore up its equity. It planned to start paying dividends in 2023. It has no plans for stock buybacks.

The CEO (Bob Jordan) was paid 3mm in 2019, 3.2mm in 2020, and 3.6mm in 2021.... not given a 9mm raise.

Essentially, everything the Twitter Troll above wrote on twitter was wrong and aggregate values over many years.
https://www.southwestairlinesinvesto...stor%20Day.pdf

This is Dec 7 2022 investor day presentation. Slide 18 has capital allocation priorities .... No where does it state stock buybacks....
More importantly, LUV surpassed its 2019 staffing levels in May 2022... It still plans to hire an additional 10,000 employees. This is something I have mentioned in previous posts regarding Delta and American. They lost a huge amount of institutional knowledge in the pandemics as some experienced employees just left and did not come back. The productivity of the airlines is way down.

Post edited. Stupid intent lies to me yet again..

[Quadzilla_Jr]

Originally Posted by Clean39T

Very true. If we knew and chose to think about the ramifications of all the choices we make every day and the systems we participate in, it'd be tough to make it out of bed. And if you can't make it out of bed, you're not going to survive this rough game we were all born into. There is a wide gap though between us peons just living our lives and the likes of Buffet or Musk or Bezos. With great power comes great responsibility, and they all are failing to live up to it, with the help of an entire class of power-hungry people who enable them to be who they are - changing regulations and tax codes, skirting rules and exploiting loopholes so they can get a bigger handout and stay a few steps ahead of whoever they think they need to be ahead of.. Where then is the dividing line between them and us, the corrupt politicians and the second- and third-tier leaders of industry? Am I enabling Bezos by shopping at Whole Foods? What's my alternative? Kroger? Oooff, time to go work on bikes.

Well said.

I have a younger brother that stubbornly sticks to his "principles" and ideals over practicality; I cannot convince him of the above being the actual reality he was born into and that he does not really have a choice but to play the game if he wants even a chance at retiring someday.

[tuscanyswe]

Originally Posted by Quadzilla_Jr

Well said.

I have a younger brother that stubbornly sticks to his "principles" and ideals over practicality; I cannot convince him of the above being the actual reality he was born into and that he does not really have a choice but to play the game if he wants even a chance at retiring someday.

If no one had principles the world could never become a better place. Pick your battles ofc but i have respect for ppl like your brother. If more were like him we perhaps would not be faced with such a hard reality. Change got to start somewhere and all that.

[Mr. Pink]

Originally Posted by tuscanyswe

If no one had principles the world could never become a better place. Pick your battles ofc but i have respect for ppl like your brother. If more were like him we perhaps would not be faced with such a hard reality. Change got to start somewhere and all that.

Name me somebody with real power that has "principals".

[BobbyJones]

Originally Posted by Mr. Pink

Name me somebody with real power that has "principals".

Plenty do, they just don’t align with yours (who ever you may be).

[Mr. Pink]

Well, I'm a fairly lousy golfer, to start, Bobby. But, please, be more specific.

[oldpotatoe]

Originally Posted by Mr. Pink

Name me somebody with real power that has "principals".

Define 'real power' first. Then define 'principals'....You are angling toward 'political power' and, particularly these days, that is defined by which side of the isle you sit on. Along with their 'principals'...

Reminds me of two interviews, one from Ernesto Colnago and one from Ugo DeRosa...each said their geometries were 'ideal'...and their size to size geometries were on opposite sides of the bike geometry spectrum.
Colnago steep(seattube), shortish top tube...same size DeRosa, shallow seat tube, longer top tube so.....

No way to define 'power' or 'principals'...

I'd love to mention some who I think have power and principals..just to see the internet and this forum, explode....

[BobbyJones]

Originally Posted by Mr. Pink

Well, I'm a fairly lousy golfer, to start, Bobby. But, please, be more specific.

It’s tough to even have a discussion here about rim vs. disc brakes. I’d hate to think where a convo specifically about differences in politics, religion and business would end up!

[verticaldoug]

I'd think both George W. Bush and Barak Obama had a moral compass. We may not agree with the compass, but I don't doubt this for a moment for both men.

I think the bigger risk is information being fed to them to skew outcomes. This is probably the bigger risk in Government currently with the amount of money thrown at lobbying.

[buddybikes]

I think these next few months in US will be more challenging. Energy costs skyrocketing, food and other essentials the same. Add to that healthcare back at square zero with co-pays/deductibles and such.

[GoJavs]

I took a macro view of my investments yesterday. Wept quietly for a few minutes, then decided my plan is reasonable and to just leave it alone.

Beyond that, I've decided to stop listening to pundits of all types. Every single one of these folks on TV, social media has an agenda, some sort of push/pull.

Best to read about bikes and other fine things.

[Tony T]

The spike in inflation seems to me to have co-incided with the spike of gas prices to ~ $6/gal, and now that Gas is ~$3.50, I'm expecting to see a dramatic drop in inflation reports soon. "Oil gets into everything"

I could be wrong, and probably am

[veloduffer]

Originally Posted by GoJavs

I took a macro view of my investments yesterday. Wept quietly for a few minutes, then decided my plan is reasonable and to just leave it alone.

Beyond that, I've decided to stop listening to pundits of all types. Every single one of these folks on TV, social media has an agenda, some sort of push/pull.

Best to read about bikes and other fine things.

FWIW, a former colleague of mine recently retired and has been publishing a newsletter called Perspective on Risk. It's free to subscribe and no ads, he writes to keep busy and just being a curious fellow. Brian is a former NY Fed official (during the GFC) and later we worked together at AIG's Enterprise Risk Management (he was a chief investment risk officer).

Brian is a free thinker and covers many current topics. It's a fun read, if you are into investment and business.

[Slamcarneyson]

Originally Posted by Quadzilla_Jr

Well said.

I have a younger brother that stubbornly sticks to his "principles" and ideals over practicality; I cannot convince him of the above being the actual reality he was born into and that he does not really have a choice but to play the game if he wants even a chance at retiring someday.

I don't think millennials will have the chance at 'retiring' in the same way ppl think about it now. For many, many reasons working until we die is going to become commonplace.