Did you notice that JBLU's numbers for November were pretty good. Although Prasm slipped a bit, the projections for December were up 12%. The other numbers show they are expanding and during expansions not all the seats are filled. Also the recent airline fare increase may stick. Seems like they have a regular business.
Mackey seems to be out of plausible/implausible excuses for his dismal execution. Lets help him out with suggestions for the excuse for the upcoming season. How bout the bankruptcy in Detroit? Higher short term interest rates? Tensions in Asia? Obamacare?
And I thought that they would say that the decline in occupancy was due to an early flu season. Maybe they conjured up this accounting morass to take attention away from their poor performance. Maybe their accountants had the flu. It is time that the Board acts to change management.
The real driver of this stock is occupancy rates. They are very leveraged to increased occupancy and if that continues to improve, the stock price should soar. They have taken steps to improve this and the economy continues to improve. I bet there were many that are waiting for house prices to improve before they convert to an assisted living arrangement. There is some lag time but i think it is happening.