Originally Posted by
Flaps50
Whoever has the purse strings has the distinct advantage believe me. Look how amazingly the Holding companies were in the black while the airline itself was bankrupt with many of the latest cases. The Airline is the catalyst for the money, and the holding companies siphon away the $$ so when it is time to talk to labor, "Sorry we're broke."
Did you see the list of creditors for the NWA bankruptsy, I think the holding company owned nearly all of them. They were in hawk to themselves
They reissued the stock to themselves. Crazy, who has the advantage?
ALPA is already pushing bankruptcy reform. If you think labor got the short end of the stick on that one, you might want to talk to the thousands of other investors who got fleeced as well. We can all agree the post-9/11 bankruptcies were scams.
I agree that the way these holding companies are set up are genius, and quite possibly the biggest scam in the history of America, besides the Afghanistan/Iraq wars.