Usually, one would see a ratio of less than 50 percent for industrial and transportation companies however, that's the peak and from there, it should decline as they use free cash flow to pay down debt.
More Quotes from Philip Baggaley:
The revenue picture has improved and this is a huge change. The big swing factor is the long-awaited improvement in pricing.Philip Baggaley
That is high, particularly for an investment-grade company.
Philip Baggaley
They are another example of a company that started out in a relatively stronger financial position than their peers, and they felt they were in better position to survive a shakeout, ... They didn't pursue cost-cutting as aggressively as they would have if they were heading toward bankruptcy early in the (industry's) downturn.
Philip Baggaley
In addition, such an outcome would encourage other employee groups to join unions to improve their bargaining position in future contract talks.
Philip Baggaley
The pilots are the last major labor group to reach a preliminary agreement (except for striking mechanics who have been replaced) and the largest source of labor savings being sought by the airline.
Philip Baggaley
We did that based on how much they need to accomplish in less than two months with their other labor groups. This strike stretches out the likely time frame with the others unions at least a bit.
Philip Baggaley
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