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Grounded JetBlue likely to take off again soon; Bad weather, lousy management exact toll, but stock is cheap.(In the Markets)(JetBlue Airways Corp., David Neeleman)
Crain's New York Business, February, 2007 by Potkewitz, Hilary
Byline: Hilary Potkewitz The worst seven days in David Neeleman's life ended last week with the JetBlue chief executive making a blizzard of public appearances to explain how one not-so-huge storm had managed to trip up his airline and to vow that it would not happen again. Investors' response: Not good enough.
Worried over the stain on JetBlue's once-stellar reputation and fearing the high cost of setting things right, they bolted. The shares ended the week on Friday at $13.08, off 6% in the last five trading days. With the stock of the Queens-based carrier trading 24% below its January highs, this is a great time for investors to get back on board. JetBlue, valued at a puny 18 times next year's anticipated per-share earnings, looks like a real bargain...
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