A totally honest question...

No...not true. I heard it from, as I originally stated, a disinterested third party. I queried a few people connected to PAIFA and they didn't deny it as a possibility.

I was looking to confirm or deny it here.

As far as FSI goes, I know he was illustrating a point, but that needed to get nipped in the bud because it was not based on anything but malice.

Chunk
 
Re: chunk the tool of FSI

Chunk, you are something else.

Has FSI expanded since 9/11? We have.

Has FSI bought any other locations since 9/11? We have.

How long is the wait to teach at FSI? The wait here at DVT is a few weeks.

Now, you can’t expect a couple of instructors and students to know anything about a private company's financials, especially since they are all lumped in with Simcom. However, we fly our aircraft hard and have stayed around the same size while the places around us have shrunk. This does not sound like the actions of a company that is desperately running out of cash.

If you want to show that your info is not based on malice then why don't you tell us exactly what you heard and who from? You said you've heard "alot of rumblings", you must have more details. What exactly is a "disintrested thrid party"?

Oh, and chunk, when is it that you are getting hired by ASA?

Thanks.
Tired.
 
Re: chunk the tool of FSI

[ QUOTE ]
Has FSI expanded since 9/11? We have.

Has FSI bought any other locations since 9/11? We have.

How long is the wait to teach at FSI? The wait here at DVT is a few weeks.

Now, you can’t expect a couple of instructors and students to know anything about a private company's financials, especially since they are all lumped in with Simcom. However, we fly our aircraft hard and have stayed around the same size while the places around us have shrunk. This does not sound like the actions of a company that is desperately running out of cash.



[/ QUOTE ]

I know UND is a university, but it has expanded since 9-11, they have aquired one or two satelite programs since then, and if you are hired as a CFI there isn't a wait.

This fall semester coming up has around a 3% jump in enrollment, which is good and bad IMO. We have over two thousand aviation students and at least 600 will be flying this fall. This seems all ironic to me due to the industry, but I guess kids want to learn about aviation.
 
Re: chunk the tool of FSI

Live, this Sunday, July 13th, on JC streaming internet pay per view...this time ITS PERSONAL....

Pan "dont say we're bankrupt" AM

vs.

Flight "neither are we" Safety Acad

Once and for all......

Seriously, its funny how an honest question turns into a "he said, she said", "my dad can beat your dad up", "your mom is so fat she...." debate....
 
Re: that\'s what I thought...

[ QUOTE ]
I guess time will tell.

[/ QUOTE ]

Hey chunk, if you don't have any real info why don't you stop spreading FUD.

Thanks.
Tired.
 
Re: that\'s what I thought...

For the third time, I heard it from a disinterested third party.
 
[ QUOTE ]
Comparing the financial backing of FSI to PAIFA is comparing apples to oranges. Sorry, but that's the reality of the situation. Not only the parent companies, but the individual schools. PAIFA has a WHOLE lotta a/c payments to make every month and they are a new school, they don't have accrued capital, only startup capital. FSI, for the most part has LONG SINCE been paid for.

Chunk

[/ QUOTE ]

Where did you get your info? Seems odd that an "outsider" claims to know more about the finances of another privately held school then the people working for and attending there.

Wouldn't you agree that businesses in finanacial trouble do not going around purchasing other schools? PAIFA just purchased another school a few months back. You have to concede that smart businessmen do not throw good money after bad...so that puts yet another hole in your PAIFA trashing rumor mill.

Turk..let's face it..some people love to fly...some people love to ...start rumors. (Darn...and I wanted to use another word cause it rhymed) LOL I guess it just makes them feel better about themselves because they haven't got much to start with.
 
Re: that\'s what I thought...

[ QUOTE ]
Wonder if Doug could bring on Jerry Springer as a moderator?

[/ QUOTE ]

We're in negotiations
smile.gif
 
[ QUOTE ]
Where did you get your info? Seems odd that an "outsider" claims to know more about the finances of another privately held school then the people working for and attending there.

[/ QUOTE ]


The students at ATA had no idea what was going on there.


[ QUOTE ]
Wouldn't you agree that businesses in finanacial trouble do not going around purchasing other schools? PAIFA just purchased another school a few months back. You have to concede that smart businessmen do not throw good money after bad...so that puts yet another hole in your PAIFA trashing rumor mill.

[/ QUOTE ]


A business will buy things that aren't needed so when it comes to bankruptcy time or closing time, they will owe their creditors less because they will have less cash on hand (just my opinion). Plus, I know nothing about PanAm's finances, so maybe they are making a profit and wanted to try and make more at another flight school.
 
You know your correct about ATA a fellow CFI at our FBO came from ATA. At least if your at FSI and they go under you won't lose all your money like you would at Pan Am. FSI lets you pay as you go and gives you your loan checks when they arrive.

Whom ever is instructing there and is trying to bring people in, "missery loves company!"
 
[ QUOTE ]
You know your correct about ATA a fellow CFI at our FBO came from ATA. At least if your at FSI and they go under you won't lose all your money like you would at Pan Am. FSI lets you pay as you go and gives you your loan checks when they arrive.

Whom ever is instructing there and is trying to bring people in, "missery loves company!"

[/ QUOTE ]

Pan Am does NOT have you pay your entire program upfront like ATA did. Your tuition is disbursed as you go thru the program and the dates are given you upon registration. If you need to change it...you call the financial aid office, no big deal.

There are a few flight schools now asking for the entire discounted program to be paid upfront (RED Flag!!!) and even as an incentive will give you a cash rebate upon completion of the program. Sounds like they are desperate and much like ATA., however, Pan Am is NOT one of them..
 
I made a few phone calls and here's what I came up with. FSA is buying out PanAm sometime around the end of this month (July). The two Florida campuses are going to be combined into one which will be located at X59 (Valkaria) a fine coastal airport. The new name will be PanSafety, which leaves open the possibility of a co-located cooking school if the aviation industry goes under. Some of the rules will change as well, all students will be charged 200% up front with no possibility of refunds. The waiting list for CFIs will be extended indefinitely, much like a mobius strip - once you get on the list there's no way off. Both PanAm and FSA have agreed that within two months of starting the new school they will file for bankruptcy without giving the students or instructor prior notice. Now I got all this information 4th hand but I consider it very reliable.

PilotOTS
 
Hey PIlotOTS....THANKS for the great laugh!!!

There are mornons born each day. Unfortunately sme that read this stuff actually believe your tongue-in-cheek approach.

Again, thanks for a great laugh!!!
 
Great job pilotots! Finally someone with a sense of humor. I tried to lighten things up myself, but people just dont seem to want to have fun around here.
I just hope they see the humor in your post, and dont start another flame war.

The Turk.
 
"Pan Am does NOT have you pay your entire program upfront like ATA did. Your tuition is disbursed as you go thru the program and the dates are given you upon registration. If you need to change it...you call the financial aid office, no big deal."


Ummm, reality check! Oh yes they do! All the money to train at Pan Am has to be paid up front or with a loan. When I was at Pan Am, I had to leave at least 30,000 in there bank account at a time.
 
[ QUOTE ]
"Pan Am does NOT have you pay your entire program upfront like ATA did. Your tuition is disbursed as you go thru the program and the dates are given you upon registration. If you need to change it...you call the financial aid office, no big deal."


Ummm, reality check! Oh yes they do! All the money to train at Pan Am has to be paid up front or with a loan. When I was at Pan Am, I had to leave at least 30,000 in there bank account at a time.



[/ QUOTE ]

Never heard of that or has any student I checked with. Tuition payment is usually only about $15,000... 4 disbursements of $20,000 with $5,000 in a check each time for living expenses.

Also checked...there is no "minimum" policy.
 
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