Originally Posted by
aa73
So do we get a worse deal by voting down the TA? Dunno. What I *DO* know is that we refuse to live on our knees. If we're gonna get slammed with something worst than the TA, it won't be because we caved.
I am very sympathetic to your position, I really am, and I am not involved in this discussion as a guy that is waving anything in your face or anything like that. It is an open forum discussion, and I am merely trying to understand your positions; no flamebait intended. So. That being said, wrt your statement, I am happy that you are proud of standing up to the man and all that, but if... when judge Lane abrogates your contracts, will that lessen the pain that you will endure? I know it was a turd.. I get that. What I saw in his ruling was a clear path for the company to unload the septic truck right on your heads.
Originally Posted by
aa73
Make no mistake, AMR, the UCC and Judge Lane absolutely dread not having a pilot contract in place. Therein lies our leverage, and we plan on taking full advantage of it.
I am sure they do. But... the corporation will survive. Maybe. If you go into burn it down mode, the remaining value will be extracted. It seems to me that your choice is to participate in that extraction or not. Burn it down mode is a clear indication that you do not want to participate, and to a degree the corporation and the creditors do not care. It's the old "you can lead a horse to water..." thing. I think that your concept of leverage is what I guess poker players refer to as an "all in" mode with a pretty weak hand. Drink, don't drink.. like alfa said, an abrogated contract takes what little control you had left right out of your hands. Urge your leadership to get back to the table.
Just another thought. I have read several posts that say that even if you get abrogated, when the company emerges from BK you will be negotiating a new contract with a stronger company. FWIW, the company that emerges will be far from healthy, annnnd you will be starting the race from the back row at Daytona in a car that needs a pit. The 10,000 contracts that AMR will renegotiate or even abrogate outright will help, but DAL (who many experts have said did a good job in BK) emerged with over $14 billion in debt. That is a huge anchor around OUR necks, and has stalled our abilities in many ways (I am standing by for the inevitable incoming from the 'just say no' DAL crowd). That is a fact whether or not THEY want to acknowledge it. Capital markets are not open to your company with that kind of debt load.
IF... AMR can shed the debt as well, then you have a point that you might have some leverage.. but I am dubious as to whether that can be done at this point. Either way, revenue growth at AMR MUST occur. Revenue.. I am not talking about costs here. 2 ways to get that... but I digress.. DYODD