Discovery Air Rescued

[vortex]

QUOTE (heli_b @ Feb 9 2009, 07:28 PM) <{POST_SNAPBACK}>

I think a little misinformed, it is not that they couldnt cover the debt with 75 machines but that the loans term was up, they weren't creating more debt, time to refinance.

I could be a little misinformed as well but did the Canadian Western Bank not 'call their loan' as opposed to the term simply expiring. I thought it was a little more sinister than the norm...

[Skids Up]

I think a little misinformed, it is not that they couldnt cover the debt with 75 machines but that the loans term was up, they weren't creating more debt, time to refinance.

 

But doesn't it mean that they still have the same debt, and still have to cover it, only now with fewer machines making money?

[Harmonic_Vibe]

One thing about this whole deal irritates me the most. The way the media refers to the financing pakage under discussion as a "bailout loan"... Which is it, a bailout or a loan? Because there is a difference. Regardless of how one feels about the fairness of one operator getting Government assistance (and that in itself is debatable) when, perhaps, it's not available to all, a loan at 10% is not a bailout, unless we all agree that the worst financial crisis in 80 years has nothing to do with "us".

 

A year ago banks were begging you to take their money at 5.5%; now, even with huge collateral and large reserves, nobody wants to reduce their cash and loan anything. Unfortunately, many companies and individuals are going to experience the effects of "bad timing", whilst others will capitalize and make out like bandits, all the while reassuring each other of their inherent genius (sorry... just thinking back to a family reuniion I had last year)...

 

Anyway, for many years now Great Slave has enjoyed an excellent reputation. I don't know much about Air Tindi but I dated a girl named Cindy once... but I digress... Discovery Air may or may not survive, but that could (and I say "could" because I don't know what went, or goes, on inside a company I don't work for) have no bearing on the quality and survivability of the company that Great Slave is... and since this is a helicopter forum, I don't think we need to discuss anything other than what Great Slave is, how they are doing, and how this will affect the rest of us...

 

A good company is measured by several metrics, financial success being only one of them. Employee satisfaction, customer loyalty and brand recognition being three others tha spring to mind... and Great Slave has all of that in Spades...

 

I hope they make it and thumb their collective nose (little helicopter joke there) at their nay sayers in the very near future!

 

Good luck guys!

 

HV

[happyfeet]

One thing about this whole deal irritates me the most. The way the media refers to the financing pakage under discussion as a "bailout loan"... Which is it, a bailout or a loan? Because there is a difference. Regardless of how one feels about the fairness of one operator getting Government assistance (and that in itself is debatable) when, perhaps, it's not available to all, a loan at 10% is not a bailout, unless we all agree that the worst financial crisis in 80 years has nothing to do with "us".

 

A year ago banks were begging you to take their money at 5.5%; now, even with huge collateral and large reserves, nobody wants to reduce their cash and loan anything. Unfortunately, many companies and individuals are going to experience the effects of "bad timing", whilst others will capitalize and make out like bandits, all the while reassuring each other of their inherent genius (sorry... just thinking back to a family reuniion I had last year)...

 

Anyway, for many years now Great Slave has enjoyed an excellent reputation. I don't know much about Air Tindi but I dated a girl named Cindy once... but I digress... Discovery Air may or may not survive, but that could (and I say "could" because I don't know what went, or goes, on inside a company I don't work for) have no bearing on the quality and survivability of the company that Great Slave is... and since this is a helicopter forum, I don't think we need to discuss anything other than what Great Slave is, how they are doing, and how this will affect the rest of us...

 

A good company is measured by several metrics, financial success being only one of them. Employee satisfaction, customer loyalty and brand recognition being three others tha spring to mind... and Great Slave has all of that in Spades...

 

I hope they make it and thumb their collective nose (little helicopter joke there) at their nay sayers in the very near future!

 

Good luck guys!

 

HV

 

 

 

Very astute observation there HV from your window there in castle grey skull. Call it a bail out or a loan who cares, as long as it keeps the blades turning so us little peeons can fly around at 120kts with our hair on fire and keep those mortgages in good standing, and kids tummies full.! Until of course the picture improves.. which it will eventually.

 

HF

 

 

[Three_Per]

huh in 14 pages of posting the last two posts are among the only well thought out, non vindictive, and well written responses to this whole topic. Including my own posts.

 

Cheers HV and HF

[I Love Winter]

Well Said HV!

[Deep Throat the third]

Very Well said HV.... I think (not sure) but I think the loan could have been called in due to the fact that David Taylor CEO of Pacific and Western Bank was ousted as CEO of Discovery Air by the board....

[helicopterjim]

Call it a bail out or a loan who cares, as long as it keeps the blades turning so us little peeons can fly around at 120kts with our hair on fire and keep those mortgages in good standing, and kids tummies full.!

 

Is this your wish for all helicopter crew or just the crew working for Discovery Air?

[Deep Throat the third]

C'mon I think we can all get the point he was trying to make....or are you just bitchy and looking to start a fight!

[happyfeet]

C'mon I think we can all get the point he was trying to make....or are you just bitchy and looking to start a fight!

 

 

Work is work, frankly! I couldn't give a rats asss what the superrich do as long as "I can pay my bills."

 

I am certain the dudes at great slaliva when posed with the very same question. To work or not to work, will choose work, and probably don't care about the financial arrangements the Mgmt make with it's bankers. Bankers are all a bunch of... won't go there!

 

Anyhow...

 

Jibe ho!