Originally Posted by
DALMD88FO
Actually we bought part of Pan Am in 91 which brought pilots along with it in 91 and in 2001 we stopped hiring in July right after signing C2K which believe it or not gave some work rules to the company which allowed them to do more with less.
I do agree with what you are saying about hiring trends, however the management team in place at the time has a lot to do with the welfare of the company. The first RA followed by Leo and his cronies did not help our situation with some very poor business decision that the current RA is still having to fix (RJ's for one)
The purchase of ASA and Comair for 2 billion.
2.2 billion stock buy back to prop up managements options.
800 million lost selling fuel hedges
5 billion dollars flushed down the toilet on 3 business decisions. We could have used that cash in 04/05.
Note: current management is awash in stock options. They are pushing hard to raise the stock price because they state it's very good for the company. It's also very good for them and I am sure is a factor in making choices between short term stock gains and the long term business plan. It's only human nature for it to be in the back of their minds.