Originally Posted by
All Nighter
Global,
The direct answer...I lived it.
I also have friends/co-workers who were in management and friends/co-workers who were on the MEC side. The bankruptcy transcripts where AA outbid Icahn and Jay Alix/Boeing should be readily available.
You can search 10K's til you turn blue but even a mediocre accountant can make profits disappear. Every airline in this country hides their money. Take a look at American right now. Labor contracts in nego and they cry crocodile tears about how they're losing money and that's what the 10k shows...so it must be true right?
But every April they have no trouble finding a couple hundred million bucks to lay on the big boys at the crystal palace in the form of bonuses.
If you want to verify the veracity of my statements you can contact the one TWA pilot who sat on the BOD of TWA. Or you can wait until he finishes writing the book and read it for yourself. Compton retired to Florida with a tidy $4M exit bonus....you can give him a call and ask him.
Actually, I was looking for something not as subjective....no offense.
If the bankruptcy transcripts illustrating your points are readily available, could you post a link please, specifically to the bidding you are referring to? They aren't readily available to me.
I don't agree with your comments about airlines "hiding" money. They are required to account for their revenue and expenses using GAAP rules. If you are aware and have proof of an airline "hiding" anything I am sure the SEC would love to have a conversation with you.
Unfortunately, I don't think I will be able to get the court transcripts. If anyone knows how to get them , please post.