Originally Posted by
OscartheGrouch
The point of my posts weren't to argue that AA should sell their assets (slots).
My apologies then. I must have gotten the wrong impression when you said, "that airlines who go through bankruptcy feel they deserve to keep the slots that could be sold to satisfy creditors and maintain pensions for their employees."
Originally Posted by
OscartheGrouch
To hold on to those valuable assets and shed debt (including pensions that were underfunded to begin with) is shielding management from poor financial decisions.
Unfortunately, management (in all industries) will make poor decisions. And, bankruptcy code is designed to get companies back on their feet. Like it or not, that's the way it works.
(As an aside, do you see a little irony that a guy that works for SWA is now the vocal champion of worker's pensions? I won't suggest that SWA was the deciding factor in killing airline employee's pensions; but, don't you think they played a significant role in ending pensions?)
Originally Posted by
OscartheGrouch
In some cases liquidation is more beneficial to an industry than propping up companies who then continue to make the same mistakes over and over.
I agree with you. I think GM should have failed...and the large banks too. But, I don't think liquidation is appropriate in AA's case. In fact, I think AA will be quite successful moving forward...just like Delta and United before them. I think you think that too....if you didn't, I don't think you would waste time on a Saturday arguing with a bunch of poor saps whose employer is in bankruptcy. If you did, that would be poor form, wouldn't it?