Appreciate a lot of your posts Tom, and thank you for your reminder about Crandall. Apparently he has forgotten:
To hear Crandall tell it, he is the most misunderstood man in Corporate America. "We are more victims than villains," he says. Victims of carriers in Chapter 11, such as Continental Airlines Inc. and Trans World Airlines Inc., that have used their bankruptcy status to lower costs unfairly.
Circumstances have changed, but in Crandall's world management is always the victim. I do not agree.
At American the Company had billions and has operationally earned many more millions while in bankruptcy. Who's the real villain? Billionaire entities which will not pay their bills, or the employees who worked for their earnings, but who are not not getting paid?