Actually shares were based on Mgt Cap and DAL, post merger has downsized. I was surprised to read you are a current emp of DAL since ur comments often reflect a negativity that I don't find while I'm on DAL property as an employee. U said u read several articles that questioned DAL purchase of the rifinery, and they should question it as it is new territory to blaze for a US Carrier. There were as many articles that lauded praise and described in great detail what a great investment/money maker this could be for DAL. I could not find one Credit Agency that lowered DAL's credit for any reason as you stated. Help me out on that one as well. I'm hungry for info as I do a fair amount of researching the industry......and I don't understand ur comments that Mgmt has not had to answer for their bad decisions. Those members of Mgmt are gone. I expect the Mgmt team of any large/med/small entity to make bad decisions from time to time. Thats called fair. I may come across as a major cheer person for DAL and I guess that is because DAL is leading the industry on several fronts and not standing still. I haven't been this proud of DAL in a very long time. I have never looked at out Mgmt blindly. Current results can not be called anything other than wonderful. A huge decision was made and the stock went up. If DAL can lower their fuel costs all yr long an avg of 7-27%.........WOW.I never said 1/4 the value Toad, I said 1/2. Go online and look it up yourself. I received, from Delta, shares at $21 per several years ago after bankruptcy. They're now worth $11. Ok that maybe slightly over 1/2, sorry today's stock price did go up a little for Delta. You're also right, I used the word bureau instead of agency, sorry. The facts remain that many analysts in the energy sector question the viability of purchasing a refinery. I only read these and try to determine the real story. I'm a 32 year Delta employee and have seen many questionable decisions by mgmt. No one is perfect, my only concern is the no one in upper mgmt has been held accountable for bad decisions.