March 15, 2012

Direct Air-- My Next Prediction

My last prediction regarding Direct Air was on November 10th, 2011 when I put the over/under for them going out of business was Ground Hog's Day or February 2, 2012 right here on the blog.      Read it again.     Too bad I could not pick stocks this well. 

Here goes, we will find out by the end of next week that the numbers were juked and that the escrow account will be tapped out .   A week or two after that, the bond company will say the $200,000 bond is tapped out also.    Today we know the club memberships (Way2Go) and vouchers (Family Ties) are worthless, but if you don't get your ticket monies refunded or your claim with the bond covered ASAP, your tickets will be just as worthless.   

It hit me today, why would these guys say they are coming back May 15th?    Simple they wanted to try and get their hands on any monies that they could before it was all refunded back.  In order to stop or at least slow the run, tell the public that you will be coming back in two months.     Can't wait to see the story on these guys on American Greed within the next 12 months.

As for you laid off employees of Direct Air.  I truly feel bad for you, this was not your making and everyone knows that.    Next week, however, you will get letters from your health insurance carrier that premiums have not been paid for the last two months and your insurance in being cancelled retro-actively.  Since the policy is being terminated you are not eligible for COBRA.


Anonymous said...

We were not offered luxuries such as health insurance vacation pay sick pay bonuses ect, we just received a lousy $8.00 an hour paycheck overtime was available for busy times like family ties sales or bookings thats it ..unemployment wont even be enough to survive...i thank you for understanding and hope everyone will recover and will find alternative means for your spring breaks

Bill Randell said...


I was not making light of your situation when I made the comment about the health insurance.

My point was these guys knew the end were near and are stiffing anyone and everyone that they owed money to as they run out the door grabbing any cash they can.

Losing your job is much worse then inconvenience Direct Air has caused. The only good thing is that with the internet, we can only hope they will not be able to pull another ponzi scheme like this.

Bill Randell said...

Just want to make it clear. Sometimes I type to fast. I truly feel bad for all the employees at Direct Air, who have been laid off.

They are victims just like everyone who did business with Direct Air. In fact they have it much worse loser their jobs.

Wish all of you the best of luck.

Anonymous said...

Look at the files at the bottom of this article

Anonymous said...

Judy Tull has another airlines ready to go and do the exact same thing. It is Casino Direct Air out of GA. She will do the same thing as before including here and Hooters

Anonymous said...

Just informed by payroll processing co that they are waiting to get an update from direct air sopke w rep g
from myrtle call center they have nothing to do with the west virgina call center payroll co and can not assist with getting our pay checks today was supposed to be pay day and my direct deposit is no where in site

jahn said...

IS DA like the gypzy contractors, i.e. every winter there is an unofficial bankruptcy and every spring there is a new name on the doors of their trucks.

I DA Privately held or is it a publicly traded company?