ATLAS Declaring BK?
08-22-2019, 05:34 AM
#41
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Originally Posted by kodiakallstar
Republic Airlines? They basically refused to negotiate in good faith for nearly a decade despite a glaring labor shortage. It got to the point they were fined into bankruptcy for not Fulfilling their capacity agreements. Granted they signed a cba just prior but the whole thing could’ve been avoided if they were at all interested in protecting their investors.
What many of you seem to be saying is that the senior executives of a public company will sit in a conference room and plan on running the company into bankruptcy just to "beat the pilots".
08-22-2019, 05:36 AM
#42
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Originally Posted by flyguy23
There are companies that needlessly file bankruptcy every day. Shareholders be damned...
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
08-22-2019, 06:57 AM
#43
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Originally Posted by 742Dash
Do you have any examples of a public company that was turning a profit being deliberately run into bankruptcy?
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
https://en.wikipedia.org/wiki/Strategic_bankruptcy
08-22-2019, 06:59 AM
#44
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Originally Posted by 742Dash
A bad strategy is an all together different thing that planning to run a viable company into bankruptcy.
What many of you seem to be saying is that the senior executives of a public company will sit in a conference room and plan on running the company into bankruptcy just to "beat the pilots".
What many of you seem to be saying is that the senior executives of a public company will sit in a conference room and plan on running the company into bankruptcy just to "beat the pilots".
08-22-2019, 08:40 AM
#45
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Originally Posted by 742Dash
Do you have any examples of a public company that was turning a profit being deliberately run into bankruptcy?
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
08-22-2019, 09:22 AM
#46
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Originally Posted by woog315
I am not arguing that Atlas is pushing for bankruptcy (and I agree with you that pilots' solipsistic views of managment's practices is hilarious), but the concept of a strategic bankruptcy is nothing new....
https://en.wikipedia.org/wiki/Strategic_bankruptcy
https://en.wikipedia.org/wiki/Strategic_bankruptcy
None of which involved profitable, public companies deliberately setting course for bankruptcy.
08-22-2019, 09:31 AM
#47
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Originally Posted by 742Dash
Do you have any examples of a public company that was turning a profit being deliberately run into bankruptcy?
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
Not bad strategy or misfortune -- a deliberate run into bankruptcy as the objective.
Board of Directors actually replaced the CEO because he didn’t believe in bankruptcy and was stubbornly trying to renegotiate all labor contracts for over half a decade. BOD replaced him and promptly declared bankruptcy.
08-22-2019, 09:40 AM
#48
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It is obvious history is lost 742Dash. That or he never heard of Lorenzo. Well, the new Atlas management is in the same league and the train has already left the station whether good or bad. I have good friends at Atlas and Polar and I hope I am wrong but the signs don't look good.
08-22-2019, 09:45 AM
#49
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Originally Posted by flyguy23
I can find many companies who deliberately didnt turn a profit over a set period of time in order to restructure debt under chapter 11. It's actually really hard to believe there are people out there who would argue otherwise. This isnt some whacked out idea. It's a very common thing. Do some research.
If Atlas were privately held then yes, I would accept that bankruptcy was in the long term plan -- bet on it, in fact. If the company showed signs of not being able to service its debt then yes, bankruptcy would be a possibility. But to think that the senior management of a public company in the situation that Atlas is in would be planning to bankrupt it just to beat the pilots is simply ludicrous.
08-22-2019, 09:54 AM
#50
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Originally Posted by 742Dash
Public companies. Please educate me with some examples of profitable, public companies that were deliberately tanked by their senior management.
If Atlas were privately held then yes, I would accept that bankruptcy was in the long term plan -- bet on it, in fact. If the company showed signs of not being able to service its debt then yes, bankruptcy would be a possibility. But to think that the senior management of a public company in the situation that Atlas is in would be planning to bankrupt it just to beat the pilots is simply ludicrous.
If Atlas were privately held then yes, I would accept that bankruptcy was in the long term plan -- bet on it, in fact. If the company showed signs of not being able to service its debt then yes, bankruptcy would be a possibility. But to think that the senior management of a public company in the situation that Atlas is in would be planning to bankrupt it just to beat the pilots is simply ludicrous.
Trying to manipulate the books/finances would be fraud. Almost certainly federal in nature.
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