Thursday, March 13, 2008

Southwest stays stable, not much movement elsewhere...

So, minor movement across the board today. This will be a lot more fun space to watch once I've put the other $5,000 into the hat ring. Since these are longer term holdings and little's going on, they're not particularly volatile and are tracking the Dow pretty closely. (Excepting BRK, which'll do its own thing.)

I'm also working on getting the portfolio view back up. The site I was using for the widget is apparently hosted in a cave with sketchy internet and it breaks the whole sidebar when it refuses to load. Cool.

Southwest's plane groundings made the front page of the Arizona Republic today. That's some rough stuff. The situation, as I understand it is that a combination of bad records keeping and a few missed maintenance cycles lead to some missed checks (or reported missed, but actually met in a few cases) for cracks in the fuselage. These cracks can form in planes once they hit their late 20s-30s and lead to a shearing off of chunks of the fuselage, which looks like this.

Now that they've been able to perform the requisite checks on the planes, it's been determined that four needed some repair work, while the rest were returned to service.

Still, LUV gained 0.21, up 1.83% to 11.70. Customers will remain a bit concerned, but this is a wakeup call of the best kind: no lost planes, no lost passengers. They'll pledge to do better and at $10M to the FAA, I think they'll comply. It's really in their best interest—they want to keep their flawless air safety record alive.

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