World Furloughs

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11-07-2013 | 10:36 AM

#41

cloudroller

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World lost it advantage when Binns took over. Every thing he has touches turns worthless.

11-07-2013 | 11:03 AM

#42

v1uhoh

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Quote:

Originally Posted by cloudroller

World lost it advantage when Binns took over. Every thing he has touches turns worthless.

Actually, it was long before that, about the time Atlas came out of Chapter 11.

11-07-2013 | 04:41 PM

#43

ATCsaidDoWhat

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From: What day is it?

Quote:

Originally Posted by v1uhoh

Actually, it was long before that, about the time Atlas came out of Chapter 11.

World lost it when the hedge fund folks cooked the books enough to get funding to buy NAA, plus a lot more to stuff their pockets with. They dumped the debt service on Worlds' back, knowing full well that on their best day, World would never be able to service the debt. Which didn't matter because they already got the cash out of the deal and left a shell.

Just like another group...called Bain Capital...name sound familiar?...did with companies.

The bankruptcy exit allowed them to do it again, despite agreements to change how they did business. Again...like Bain Capital.

11-07-2013 | 04:56 PM

#44

v1uhoh

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Preachin' to the choir. Like I said, they lost it about the time Atlas came out of Chapter 11.

11-10-2013 | 09:53 AM

#45

idleclamp

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Quote:

Originally Posted by ATCsaidDoWhat

There was no hedge fund involved when NAA was purchased. The hedge fund came after that.

11-10-2013 | 10:53 AM

#46

bushpilot2004

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From: B777 FO

We were told here at Evergreen that World would be taking over the Pacific AMC flying in January- maybe that will help to bring some guys back.

11-11-2013 | 08:06 AM

#47

BayBum4Ever

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From: I will be in the right bunk.

The stellar management at World announced today that they are firing (furloughing) down to 71 pilots, but don't tell anybody according to the email from J Graber el supremo D Bag.
Sorry guys, I have been there too.

11-12-2013 | 01:51 AM

#48

LNL76

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From: Whiskey Papa

Global just filed for Chapter11 again....16% WORKFORCE REDUCTION IN THE NEXT 90 DAYS.

11-12-2013 | 02:18 AM

#49

ToBeOrNotToBe

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From: FO 757/767

Quote:

Global just filed for Chapter11 again....16% WORKFORCE REDUCTION IN THE NEXT 90 DAYS.

Should be all on World side, if they are furloughing down to 71 pilots. Not surprised. Bankruptcy allows Global to circumvent World labor contracts and their scope/me too clauses.

11-12-2013 | 05:05 AM

#50

v1uhoh

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Quote:

Originally Posted by ToBeOrNotToBe

Should be all on World side, if they are furloughing down to 71 pilots. Not surprised. Bankruptcy allows Global to circumvent World labor contracts and their scope/me too clauses.

It allows them to circumvent every contract, not just labor. And not just World labor contracts, but NAA, dispatchers, MX, etc. They're going to be the Tyrone Biggums of aviation.