Michael O'Leary, the boss of Ryanair, insisted in a very arrogant manner that the current financial meltdown was "good for business" and said his low-cost airline would benefit from the crisis. "Everyone will be wanting to trade down now," he told the press. "We have a great economic outlook, the great thing about flying is that people will never stop."
In his narrow minded, profit oriented, mentality he does not care about ordinary working people, including also his own employees, who fear for their hard-earned savings and whether they will have enough money to eat and heat their homes this winter. What he considers very fortunate for him is actually a catastrophe for others. Yesterday Associated Press published a report, stating that retirement plans in the US have lost as much as $2 trillion in the past 15 months. That is a major blow for workers preparing to retire. As the head of the Congressional Budget Office, Peter Orszag, said, this will force people to hold off on major purchases and even consider delaying their retirement. They definitely will not be in love with the recession that is upon us.
