AMR Files For Bankruptcy
11-29-2011 | 04:48 AM
#42
Works Every Weekend
Joined: Dec 2007
Posts: 3,506
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From: 737 ATL
The court motions are not on line yet on the Southern District website.
Did AMR's filing include a motion to stop lump sum pension pay outs?
They can do that if the fund threatens to fall below a certain liquidity level. That's what Delta did except there was a delay after the bankruptcy filing.
I expect a lot of pilots will put in their notice to retire effective Dec 1st.
This may be the last chance to get at those lump sums.
A lot of guys now have only 2 days to make a huge life decision.
Did AMR's filing include a motion to stop lump sum pension pay outs?
They can do that if the fund threatens to fall below a certain liquidity level. That's what Delta did except there was a delay after the bankruptcy filing.
I expect a lot of pilots will put in their notice to retire effective Dec 1st.
This may be the last chance to get at those lump sums.
A lot of guys now have only 2 days to make a huge life decision.
11-29-2011 | 04:50 AM
#43
No longer cares
Joined: Mar 2008
Posts: 12,109
Likes: 0
From: 767er Captain
Crandall will be on CNBC in a little bit.. and Cramer said that anybody that ever recommends an airline stock shouldn't be in the business... (except Alaska) duuuuuuuuuuuuuuuuuuh
EDIT: Crandall on at 10am...
EDIT: Crandall on at 10am...
Last edited by tsquare; 11-29-2011 at 05:03 AM.
11-29-2011 | 04:53 AM
#45
Runs with scissors
Joined: Dec 2009
Posts: 7,847
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From: Going to hell in a bucket, but enjoying the ride .
11-29-2011 | 04:58 AM
#47
Gets Weekends Off
Joined: Feb 2007
Posts: 244
Likes: 0
From: At the Blue Line
I wonder how all those Nordstrom Pilots are feeling this morning! All those years of looking down their noses at everyone else has finally caught up with them. My dad always said, "never pi$$ into the wind".
11-29-2011 | 05:12 AM
#48
Weekend and Holiday Pilot
Joined: Jan 2007
Posts: 1,152
Likes: 1
From: Sippin' at the Troubadour
Never seen that attitude at AA. Nothing but professionalism on multiple jumpseat rides. Of course the TWA guys may think differently. Perspective I guess...
11-29-2011 | 05:16 AM
#49
Banned
Joined: Mar 2011
Posts: 726
Likes: 0
32.5% of their pay, that's B.S. I'll bet upper management isn't taking that big a cut.
11-29-2011 | 05:17 AM
#50
Gets Weekends Off
Joined: Mar 2005
Posts: 286
Likes: 0
From: Up Front
The question that has not been asked is "What changes were made to the bankruptcy laws several years ago?" Changes where scheduled to go into effect and Northwest and Delta filed just prior to that happening to get in under the wire as I recall, however my memory is getting old and fuzzy, not unlike my ears.
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