You just can’t kill US Air. There is always another banking yutz looking for a fee. This time MerrillLynch.CON is banking this absolute piece of crap paper. Just in case you have been under a rock…US Air’s fuel bill is $2 billion annually may make this the worst band-aid financing ever.
I covered this short position a tad early in the $5’s a few months back, but I pulled it up today and smiled as I saw a $9 handle…WTF! PHEW. The stock has rallied from $2 and verge of bankruptcy and has raised $179 million (likely from Coca Cola or Planter’s Peanuts).
This band-aid helps travellers…short-term obviously, business needs to continue at some level.
The industry is completely upside down and if Merrill Lynch was truly a banker we could trust, they would be funding a real solution to our problems, not sheisting us all with this ‘one ply’ toilet paper.
Today, the TSA has proclaimed that we no longer need to pull our laptops out of our bag . Big freaking woop.
I would rather the TSA check the computer of the terrorist next to me and let me keep my CROX on.