Hi Mike,
Varig is one of the last big nation airlines to be owned by the =
government. I wonder what their restructing plan looks like? Any ideas =
how I could get a hold of a proposal?
Hmmmmmm.......sorry to correct you, but Varig isn't a =
government-owned airline - at least, not entirely. The State of Rio =
Grande do Sul has holds a minuscule stake in the airline (if my memory =
serves me correctly, it's somewhere in the 2% ballpark - if that). The =
Funda=E7=E3o Rubem Berta (FRB) is the group's major stockholder, with =
somewhat more than 83% stake. The remainder is pretty much spread among =
private investors.
However,it should be noted that the FRB is an employee-managed =
organization and over the last 20 or so years, its board of directors =
has managed to consistently "screw the pooch". Compounded by the =
vagaries of an unstable local economy during the 80s and 90s, Varig =
inexorably slided into the financial morass it now finds itself.
A very sad Latin American story....
Jackson =20