Financial News

I have got to get this off of my chest. I like this story mostly for the title: "Is Hooters Air Going Bust?"

After only three years of service, the Myrtle Beach based carrier has apparently decided to throw in the towel and pull out of most of its major markets. This comes on the heels of analyst reports that described Hooters Air as a company "embarrassingly top heavy with management". Additionally, the airline's issues have been artificially enlarged by such industry-wide problems as skimpy air fares and inflated fuel prices. Officials at the Lehigh Valley International Airport near Allentown (PA) last month accused Hooters Air of suckling at their pumps to the tune of $1 million.

The carrier will henceforth run a stripped down schedule that focuses primarily on servicing high-end private customers like tour groups and sports teams. It is a strategy, says Robert Brooks, chairman of Atlanta-based Hooters of America, that should demand less support from the rest of the corporation and thus help protect Hooters' substantial assets. Though full figures remain unavailable from Hooters, Wall Street's outlook for the restaurant business remains perky in this chilly financial climate.

I could do this all day. But I won't.

I will say that, as a Tiger, I am utterly thankful that not all of Mr. Brooks’ investments tend to droop quite so quickly.