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How LGFCU accounts compare Local Government Federal Credit Union Share SavingsLocal Government Federal Credit Union Checking AccountLocal Government Federal Credit Union Money Market AccountLocal Government Federal Credit Union Share Term Certificates Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. How Local Government Federal Credit Union worksLocal Government Federal Credit Union is a financial institution that serves North Carolina's local government employees and volunteers. The credit union doesn't have branches, but it's partnered with State Employees Credit Union. Local Government Federal Credit Union vs. Truliant Federal Credit UnionTruliant Federal Credit Union is a CDFI that serves local communities in North Carolina, South Carolina, and Virginia. Local Government Federal Credit Union offers higher interest rates, but Truliant Federal Credit Union doesn't charge monthly services.

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☆ Southwest's CEO says it 'just couldn't keep up with the volume' of problems that caused its holiday chaos: report
▼ + stars: | 2023-01-15 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Southwest CEO Bob Jordan told The New York Times that winter storms caused plane engines to freeze. He denied a tech failure caused the meltdown that forced almost 17,000 flights to be canceled. Bob Jordan told the newspaper that its problems quickly mounted after the storm hit and that it couldn't keep up with the volume of cancellations and delays. We just couldn't keep up with the volume — volume we'd never seen before." Jordan denied that its technology failed and told the Times it had just experienced an "overwhelming volume."

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☆ Southwest CEO says all options 'on the table' after carrier's meltdown
▼ + stars: | 2023-01-13 | by ( ) www.nbcnews.com time to read: +3 min

Southwest Airlines is looking at all options to ensure the operational meltdown it suffered last month is not repeated, Chief Executive Bob Jordan said on Thursday. The Dallas-based carrier has been dealing with customer outrage and regulatory scrutiny after a systems meltdown last month left thousands of passengers stranded. Southwest has hired consultancy Oliver Wyman to investigate the disruption, Jordan told Reuters in an interview. Jordan said New York-based Oliver Wyman is interviewing company staff and union members to reconstruct the recent debacle in order to identify gaps in the carrier’s operations. He said last month’s disruption was not due to the structure, but said the airline could set up more crew bases if Oliver Wyman recommends that.

☆ Shareholders sue Southwest Airlines over flight meltdown
▼ + stars: | 2023-01-13 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

REUTERS/Shelby Tauber//File PhotoJan 12 (Reuters) - Shareholders filed a lawsuit against Southwest Airlines Co (LUV.N) on Thursday, accusing the carrier of fraudulently concealing problems that led last month to an operational meltdown and more than 15,000 flight cancellations. Flight operations at Dallas-based Southwest buckled shortly before Christmas as a fierce winter storm swept across the United States. The carrier largely restored normal operations by Dec. 30, several days after other airlines had recovered. In an interview on Thursday, Jordan said Southwest was looking at all operations to avoid a repeat of the meltdown. The case is Teroganesian v Southwest Airlines Co, U.S. District Court, Southern District of Texas, No.

☆ Exclusive: Southwest eyes operational changes after airline's meltdown -CEO
▼ + stars: | 2023-01-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, Jan 12 (Reuters) - Southwest Airlines Co (LUV.N) Chief Executive Bob Jordan said on Thursday the company is looking at all options to ensure the operational meltdown it suffered last month is not repeated. The Dallas-based carrier has been dealing with customer outrage and regulatory scrutiny after a systems meltdown last month left thousands of passengers stranded. Southwest has hired consultancy Oliver Wyman to investigate the disruption, Jordan told Reuters in an interview. Southwest's board has set up a new Operations Review Committee to oversee management following last month's systems collapse, Jordan said. With the exception of 1% of bags, the airline has delivered all the luggage which went missing back to customers.

☆ Key Senate Democrats push Southwest CEO for answers on holiday meltdown
▼ + stars: | 2023-01-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Southwest Airlines Executive Vice President Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange (NYSE) in New York City, U.S., December 9, 2021. The questions push for details about the causes of the meltdown, including Southwest's outdated software and staffing failures. The mass cancellations came alongside an intense snowstorm and elevated holiday travel demand, which posed a challenge to many airlines. The senators' letter also highlights Southwest's use of funds, claiming it neglected to update company-wide systems that have long been out of date. "Southwest has long known that its software was outdated, and the Southwest Airlines Pilots Association had warned that such a debacle was inevitable unless Southwest invested in new scheduling systems," the letter says.

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☆ Southwest Airlines CEO Bob Jordan takes responsibility for the company's holiday flight meltdown: 'It just can't happen again'
▼ + stars: | 2023-01-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Southwest Airlines CEO Bob Jordan took responsibility for the recent holiday chaos, saying this " just can't happen again." Shareholders filed a class action lawsuit on Thursday against Southwest over the flight disruptions. "I have put everything on the table here because it just can't happen again," Jordan told Reuters. Southwest has engaged consultancy Oliver Wyman to investigate the operational failures and has set up a new committee to review its operations, Jordan told Reuters. New York State Comptroller Thomas DiNapoli last Friday demanded to know how the carrier plans to prevent another operational meltdown.

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☆ Southwest and Twitter are on a similar flight path
▼ + stars: | 2023-01-11 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 11 (Reuters Breakingviews) - Twitter has slashed about three-quarters of employees since Elon Musk completed his buyout. But it’s also possible Twitter is building up what software developers call “technical debt” – where today’s underinvestment becomes tomorrow’s liability. The holiday meltdown at Southwest Airlines (LUV.N) is an example of how technical debt can build up even in non-technology companies. Twitter doesn’t have airplanes to keep aloft, but it too could be building up a kind of technical debt. The company had about $6 billion of operating costs in the four quarters before it went private, compared with $5 billion of revenue, which suggest there was fat to cut.

☆ The New York state pension fund overseer has asked Southwest Airlines to explain how it plans to prevent future operational catastrophes, like the one over the holiday season
▼ + stars: | 2023-01-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

The New York State comptroller pressed Southwest Airlines to explain how it plans to avoid another operational meltdown. The carrier canceled more than 16,700 flights between December 21 and 31, amid the holiday travel season. The New York state pension fund is one of the top-100 largest investors in Southwest. A spokesperson for the comptroller's office told WSJ it's waiting for a response from Southwest, but had no immediate plans for action. The New York State Comptroller office and Southwest Airlines did not immediately respond to Insider's requests for comment sent outside regular business hours.

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☆ Southwest is giving workers bonus points worth about $400 to say sorry for the 'physical and emotional toll' of the holiday meltdown
▼ + stars: | 2023-01-08 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Southwest is giving its 66,000 workers 25,000 SWAG points to redeem in its employee store. CEO Bob Jordan told staff: "I'm sorry about the damage to your confidence and trust." According to The Dallas Morning News, the 25,000 SWAG points could be converted into gift cards worth about $400. In the memo, Jordan told workers: "I'm sorry for the physical and emotional toll. Southwest Airlines did not immediately respond to a request for comment from Insider.

☆ A 14-year-old was stranded in an airport for 19 hours on Christmas Eve after Southwest's flight chaos
▼ + stars: | 2023-01-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

A 14-year-old Southwest passenger was stranded in a Baltimore airport for 19 hours on Christmas Eve. Southwest staff left Penelope Meyer alone as they repeatedly rebooked her flight to Florida. Penelope Meyer, 14, had been flying from Long Island, New York, to Fort Myers, Florida, to spend Christmas with her dad, Greg. "Otherwise, she was going to be sleeping in an airport alone as a 14-year-old girl," Greg said. While Greg found the additional expenses of about $2,000 to be an inconvenience, he was more concerned that staff had left Penelope alone for so long.

☆ Southwest’s December Meltdown Could Cost Up to $825 Million
▼ + stars: | 2023-01-07 | by ( Alison Sider | Will Feuer | ) www.wsj.com time to read: 1 min

Southwest Airlines Co. said Friday that it expects its holiday meltdown to wipe out fourth-quarter profits in what has become one of the costliest disruptions the industry has seen in years. The company estimates that the cancellation of more than 16,700 flights from Dec. 21 through Dec. 31 will reduce its pretax income by $725 million to $825 million in the fourth quarter, resulting in a loss for the period. That includes between $400 million and $425 million in lost revenue, as well as an additional hit from reimbursements to affected travelers, premium pay for employees and other related costs.

☆ A Southwest passenger and her cat were stranded for 4 days over the holidays and spent another $600 to get home, report says
▼ + stars: | 2023-01-07 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A Southwest passenger spent $600 and 4 days trying to get home after the airline's holiday meltdown. Olivia Laskowski couldn't get another Southwest flight for more than two weeks, per New York Times. Instead, she decided to buy a JetBlue flight to get back to New York with her cat. The JetBlue flight got her back to Brooklyn on December 30, per The Times – four days later than planned. "Sometimes you get extra expenses in life and you just kind of brush them off and they are what they are," Laskowski told The Times.

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☆ Southwest’s December Meltdown to Cause Quarterly Loss
▼ + stars: | 2023-01-06 | by ( Alison Sider | Will Feuer | ) www.wsj.com time to read: 1 min

Southwest Airlines Co. expects to book a fourth quarter loss after a winter storm triggered an operational meltdown that resulted in thousands of flight cancellations over the busy holiday period. The company estimates that the cancellations will result in a negative impact of $725 million to $825 million on a pretax basis for the fourth quarter. That includes between $400 million and $425 million in lost revenue, as well as an additional hit from reimbursements to affected travelers, premium pay for employees and other related costs.

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