JBLU (JetBlue): Customer Bill of Rights = Company's Living Will

Today, JetBlue unleashed (on itself) what it calls it's Customer Bill of Rights (essentially putting themselves in a burlap sack and then beating themselves with a freshly made sausage) which details a list of self-imposed penalties on all of it's flights if they are delayed in an attempt to win back passengers after last week's operational screw ups. The release states that:

"JetBlue customers will be compensated based on the length of the delays. The vouchers range from $25 to the full amount of the ticket. The delays include airplanes unable to taxi to the gate within 30 minutes and flight departures held up for a minimum of three hours, according to a program copy provided to The Associated Press."

I am personally a part of this because for the long weekend, we flew out a friend to come join us and her flight was delayed 7 hours. We were thankful that she even made it out considering the icestorm however the delay was a drag. We ended up picking her up at 4 am in the morning at a different airport 40 miles away.

Reading this new this morning was great! I'm glad that we'll be getting a full refund and yes, JetBlue still has our business however this Customer Bill of Rights is essentially death for the stock and what it comes down to is that the company pretty much has given up profitability for half the year. Every time there is fog, rain, snow, a troublesome passenger, a technical malfunction, or a pilot with an overly active bladder, they'll be reaching for their pockets. It's brilliant in terms of customer satifaction but suicide in terms of profits. They'll be breaking even or losing money on any flight that goes wrong. Surely this is an over reaction on their part.

I'm glad I cashed out at $14.50 with my $50 dollar profit because ever since, the stock has been crashing and will continue to crash until they revise their bill of rights or until man learns how to control the weather.





Notes:
In Portfolio: Just got the hell out.
Random Thought: Cats aren't clean, they're covered in spit.
Best Dunk: Dwight Howard's Sticker Dunk