Originally Posted by
Gen6
Imo C2K was signed by Mullins knowing it would bring BK. The quickest way to get our costs in line was to get to BK. So he signed C2K knowing it was unsustainable. 911 just accelerated the time line. We were in a recession and over staffed when C2K TA was reached and stopped hiring the day it was approved.
How do you explain the company waiting far longer than most felt it should prior to filing bankruptcy? In fact they waited so long Delta was dangerously short of cash. It is also hard to explain Mullins taking the bulk of his compensation in stock options that would become worthless in any bankruptcy filing. Not to mention taking a company into chapter 11 is rarely a good thing on a resume. Mullins has never held any job of consequence since. If it was all a plan you would also think the company would not have fired him and instead let him lead the company through the process.