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What Mr. Fredericks is telling you in code is that things are so far out of financial whack the best to hope for is a return to 2005 numbers for passenger traffic, BEFORE we added all this massive debt on. We can call this whole thing "Chafee's folly" as his pipe dreams of vast "Parisian boulevards" aka Post Rd. turn into a pool of red ink that will require a S-U-B-S-I-D-Y from the general assembly to avoid risking a default by the airport corporation. Mr. Fredericks is correct in trying to shed losing operations, but how do you shed a whole airport? I think it is telling our new director is renting a home rather than buying. A very prudent decision decision given the scope of the task he is in charge of. All of this would have worked if Logan, Bradley and Manchester did nothing in the last 20 years but I guess Chafee never got the memo that the others were not going to do nothing..........Good luck Kelly and grow some eyes in the back of your head.