Monday, 17 March 2008

Alitalia?

Alitalia kinda surged in a negative direction this morning. Altalia is the national airlines of Italy. For years and year....Altalia was basically non-profitable. The Italian government tossed in millions per month....to keep them going. The unions made the situation quiet interesting. They wouldn't allow a single route to be subtracted. They wouldn't allow any purge of personnel. It was an interesting situation. The state folks had been advertising the airline up for sale....for about five years....and generally....nothing would happen.

So today....Air France came up and offered 25 cents per share.....basically 20 percent what the airline claims they are worth on paper. This is like one of them fire sales you hear about in Nashville....where you can buy government property in Alaska for $8 a acre. The interesting thing.....its true. When this story came out this morning...a bunch of liberal Italian politicians came out to say this was a insult. Funny thing.....four hours later.....the union came out and was very open to this deal. The government? They came out and said that a meeting tonight would occur to basically rubber-stamp this deal or dump it.

The truth is.....the government is really disturbed about the millions dumped into a airline that can't generate a profit. No one can remember a profitable year since the 1990s. The deal at stake...allows the Air France folks to buy 49 percent of the airline.....because the state will still control 51 percent.

What happens here? Air France might be able to trim back 30 percent of the routes and key into strong marketable flights.....maybe even getting some international deals with various airports in Italy with cheaper landing fees. When you examine London and Paris currently....they are soaking the normal traveler to a huge extent. If Milano or Rome could produce a very lucrative fee.....a number of flights from the US could be directed to these cities...and open up a profitable situation. Count in a 30 percent dump of employees....and some vacation advertising.....and this might turn the airline around in two years to actually make a profit. Maybe.

Threesome in New Jersey

Teddy Pederson came out.....a former associate of Governor of New Jersey.....Jim McGreevey...and Teddy says that both he and Jim were a threesome with Jim's old wife. The old wife? Well, Dina is apparently trying hard to divorce Jim but the property business is getting to be a problem. Teddy apparently wanted to clear the air....in that Dina is the true-blue church going gal that she might claim. So you'd start to shake your head...thinking....Jim, Teddy and Dina in the same bed? Well.....Teddy says that he and the former governor might have been in bed but they didn't do any male to male stuff.

Down in Ripley....things like this don't happen too often and usually....its the kind of stuff you wouldn't air out to the public much. Kinda like admitting that you have relations with your cousin or you dated a Catholic or you converted to Hindu while at some college in the Ozarks. Generally....you try to limit your relatives finding out stuff like this. The believability of Teddy's story? Teddy didn't have much a reason to tell all of this....Dina will get a fair portion of the money anyway.....but Teddy sat there and watched Dina tell her "innocent" story over the Spitzer weekend....and just decided that folks ought to know that Dina isn't quiet that nice and pure. I'm thinking he is telling the truth....and that as mayor of some town.....Jim McGreevey was heading up and becoming a bigwig.....and Dina wanted to hitch onto that ride. So things worked out. Will the press question her further? I'm betting someone will eventually drag up this story and Dina will deny it but look pretty lousy doing so.