AMR Files For Bankruptcy
11-29-2011, 06:03 AM
#71
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Joined APC: Dec 2006
Position: I was acquired, Not Hired
Posts: 1,784
Originally Posted by dumbfounded
I was speaking to the "legitimate contender" comment.
Yep, I'll give ya that one...maybe a better choice of words would be in order...but I haven't had my morning beer yet.
11-29-2011, 06:05 AM
#72
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Joined APC: Mar 2008
Posts: 2,919
Originally Posted by RJtrashPilot
Maybe they'll bring Bob Crandall back to the helm.
He blames the labor unions, specifically the pilots.
Competitors had too much of a cost advantage with bankruptcy-negotiated labor contracts. (According to him)
CNBC Commentator,
"Do you think this will get the pilot's attention?"
11-29-2011, 06:06 AM
#74
Can't abide NAI
Joined APC: Jun 2007
Position: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
Posts: 11,990
Originally Posted by tsquare
It's not a pre-packaged BK either (according to CNBC). This doesn't bode well for the creditors I wouldn't think. Sounds like there is none of the DIP financing either that the rest of us had. Anybody got any ideas how this will affect things?
Bankruptcy will help American while harming its competitors. Despite some competitors licking their chops to bite (by buying into) some part of American's network, what will happen is that the competitors' lending costs will increase while American's will decrease.
Expect American to follow the US Air / United / Delta / NWA model in less than 12 months.
American is NOT looking to merge. CNBC is calling for a trans border merger, but it is illegal under current law. American has a large enough network to compete with American and UCAL.
11-29-2011, 06:07 AM
#75
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Joined APC: Jan 2008
Position: 747
Posts: 731
Originally Posted by DeadHead
He's being interviewed by CNBC
He blames the labor unions, specifically the pilots.
Competitors had too much of a cost advantage with bankruptcy-negotiated labor contracts. (According to him)
He blames the labor unions, specifically the pilots.
Competitors had too much of a cost advantage with bankruptcy-negotiated labor contracts. (According to him)
11-29-2011, 06:07 AM
#76
Can't abide NAI
Joined APC: Jun 2007
Position: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
Posts: 11,990
Originally Posted by Cheddar
Trading opened at 23 cents...
11-29-2011, 06:08 AM
#77
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Joined APC: Dec 2009
Position: 127.0.0.1
Posts: 2,115
Originally Posted by EXTW
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.
EXTW
EXTW
11-29-2011, 06:11 AM
#80
Can't abide NAI
Joined APC: Jun 2007
Position: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
Posts: 11,990
Think of this bankruptcy this way. The microwave oven burned someone's lunch at the accounting office's break room setting off the sprinklers and the fire alarms. Other than the accountants who are running around in a haze, the rest of the Company is operating normally and just talking about the "news."
Gerald Arpey's retirement is secure. Usually the rats know more about the integrity of the ship's hull than the rest of the crew working above deck.
Gerald Arpey's retirement is secure. Usually the rats know more about the integrity of the ship's hull than the rest of the crew working above deck.
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