Originally Posted by
N1003U
When I was employed there (way back in the 80s/90s) there was a running joke inside Siemens the the company was in fact a large Bavarian bank that only did high-tech manufacturing on the side.
When I look at how many large companies (including LH) are managed from afar these days, I am not so sure the joke is so far from the truth...
Many German companies are banks, Lufthansa is no exception. Bavaria is very famous for it, good old FJS stroke a few some deals with his friends at Siemens or BMW (for example purchasing Loewe in the 1980's on behalf of Bavaria to prevent a foreign takeover)
Just comparing LH's financial situation with the competition is mind-boggling, if you look at key financial parameters. Additionally, a very conservative assessment of value has always been the key theme at Lufty following the classic German approach.
Therefore, it is really worth laughing out load, when certain posters accuse LH of short-term profit making tactics.
