By now everyone here should know about how the company formally known as Jet Blue said FU 2 YK. Yes the tix are still available to YK (last I heard). But hey Jet Blew it when they had the opportunity to make a firm reasoned sound business decision. As noted by Markos on Monday
Someday, this will be a case study in MBA and marketing programs in how NOT to respond to spurious political pressure.
What does this have to do with the diary title? Jet Blew reported their 2nd quarter earnings yesterday. Blew is a publicly traded company (Ticker symbol JBLU) and their SEC filings are Here. Please take a running leap, and join me on the other side of the creek for why this matters to us
I have not practiced and am not up to date on securities laws and SEC regulatory matters (any Kossack Security Lawyers?). But I did learn in school about "duty to disclose" material information to a companies performance and stock prices (both positive and negative). The reports to the SEC not PDF filed yesterday covers the 2nd quarter (April 1st through June 30th). First I don't know since this fiasco Blew initiated at o'liely's behest occurred after June 30th but before the SEC filing on July 24th, what or how they would need to make a public statement regarding a possible reduction in earnings due to this $hit storm.
The link to the SEC filing has a report with three links. The first one says
On July 24, 2007, we provided an update for investors presenting information relating to our financial outlook for the third quarter ending September 30, 2007 and full year 2007, and other information regarding our business.
That would seem to cover the past week, even though they did not file until July 24th.
At the very bottom of the second link (file2) it states pursuant to applicable SEC laws:
This investor update contains statements of a forward-looking nature which represent our management’s beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including, without limitation, our extremely competitive industry; increases in fuel prices, maintenance costs and interest rates; our ability to implement our growth strategy, including the ability to operate reliably the EMBRAER 190 aircraft; our significant fixed obligations; our ability to attract and retain qualified personnel and maintain our culture as we grow; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market and the effect of increased congestion in this market; our reliance on automated systems and technology; our being subject to potential unionization; our reliance on a limited number of suppliers; changes in or additional government regulation; changes in our industry due to other airlines’ financial condition; and external geopolitical events and conditions. Further information concerning these and other factors is contained in the Company’s Securities and Exchange Commission filings, including but not limited to, the Company’s 2006 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release Emphasis Added
I would contend Blew did and does have a fiduciary obligation to it's current shareholders and responsibility to comply with applicable SEC laws and regulations to make a public statement regarding the possible loss of significant income and revenues. If you start with the premise the county is currently split approximately 50/50 (right versus left), and Daily Kos gets in the neighborhood of 615,000 page views per day, and then you factor in Crooks and Liars, My DD, Think Progress, Talkleft, Firedoglake, (with amusing pix), and Americablog just to name a few. I think you could make a reasonable guest-a-mate that over 1 million people will have heard about Blew's FU 2 YK. Oh and let's not forget everyone's favorite
Blew commercial
We have been bombarding Blew's Corporate Communication's staff Email Here. But just as billo is looking out for his viewer's, I think we need to look out for Blews current shareholder's and prospective future shareholders. Please feel free to use the info from this public SEC filing and on the upper right hand corner is Blew's Investor Relations Department:
JetBlue Airways Investor Relations
Lisa Studness
Cindy England
(718) 709-2202
ir@jetblue.com
Blue's Investor Relations Email
Please join me in asking the Investor Relations staff why they did not report a possible loss of revenue from progressives and liberals from around the country who are stateing,advising,asserting, and claiming they and or family, friends, and or business associates will never fly Jet Blew ever again. I would think this may materially affect Blew's revenue's and profit's in the foreseeable future. I will post my email to them here shortly.
When publicly traded companies take foolish and unwise actions, they are responsible to their shareholder's for the results of said actions (to wit, alienating what could be a sizeable number of current and future members of their potential customer base), they need to comply with SEC regulations and let people know.
So please be kind, pleasant, and simply inquire if Blew intends to make this more widely know to the general public, and specifically current shareholders and prospective shareholders,