***Update, I read the original article wrong to say that the airline flies to Cleveland, as a commenter pointed out it is actually Columbus, which outside of Ohio State University and MLS’ Columbus Crew, has less reason to travel there than Cleveland. The destination may change, the points about investing in low-fair airlines and using corporate incentives remain.
I know the Rock & Roll Hall of Fame is probably pretty neat and the Indians just made a good run into the baseball playoffs, and that LeBron James guy is pretty good, but it’s still Cleveland.
That’s not stopping Gov. Easley from giving $3.9 million of your tax dollars to a low-cost airline to operate out of Greensboro’s PTI airport and fly only to its hub in Cleveland, OH. (Go to its web site and click your starting city as Greensboro, your only destination choice is Cleveland.)
Now, I dabble a little in stocks and investments and somebody once told me, "Never own an airline stock for any reason." Good advice considering four of the major US carriers have all declared Chapter 11 bankruptcy in the last five years.
And do any of these companies sound familiar?
These are a few of the 19 "low-cost" airlines that are now defunct. And that doesn’t include the other 17 "low-cost" airlines already in service.
If the state is going to give away my tax dollars to private companies, at least invest in companies that have some sort of track record of success. The airline industry is not exactly a model of profits and stability.