Originally Posted by
B757200ER
Ironically, a trustee was eventually appointed, in '90, and Lorenzo did lose control; his name was Martin Shugrue,Jr; he passed away in '99. And Shugrue couldn't save Eastern, which folded in January '91. A terrible year in the industry, which also saw Pan Am shut its doors in December.
Well actually there were two trustees: The initial court-appointed trustee overseeing Eastern's BK was David Shapiro. Afterwards, like you said, when the judge finally admitted that Lorenzo couldn't manage his way out of a paper bag, he then appointed Martin Shugrue. Ironically, Shugrue was initially a Pan Am F/E who then rose into the ranks of management, and couldn't save Eastern - and then ended up being the last CEO of Pan Am.
GREAT book!