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Old 03-28-2020, 04:03 AM   #11  
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Crandall (good or bad) is responsible for the totally F’d up culture, and the bury your head in the sand middle management. He pitted every employee group against each other.
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Old 03-28-2020, 04:55 AM   #12  
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Originally Posted by Aero1900 View Post
Didn't the Dodd Frank act that was created after the bank bailouts require them to keep more cash on hand?

It was basically what Rickair7777 was suggesting. A regulation that requires enough capital on hand to survive more than 3 weeks without needing to be bailed out. And maybe it would say that they can't do stock but backs until they have 3 months operating capital on hand.

I dunno
great idea. And congress may grudgingly implement something like that. A few years later after after this saga is a distant memory with some industry lobbying a Republican controlled legislature will peel back the regulations as a sacrifice to the laissez faire gods

buying back stick used to be illegal

investment banking used to be separate from personal banking by law

it used to be easier to form a union

corporations used to be soulless profit making entities and not endowed with human qualities

we never learn
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Old 03-28-2020, 06:12 AM   #13  
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Crandall is still alive?

I wonder what his AA portfolio exposure might be.
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Old 03-28-2020, 08:50 AM   #14  
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Originally Posted by contrails12 View Post
great idea. And congress may grudgingly implement something like that. A few years later after after this saga is a distant memory with some industry lobbying a Republican controlled legislature will peel back the regulations as a sacrifice to the laissez faire gods

buying back stick used to be illegal

investment banking used to be separate from personal banking by law

it used to be easier to form a union

corporations used to be soulless profit making entities and not endowed with human qualities

we never learn
This is spot on.

Last edited by BKbigfish; 03-28-2020 at 09:00 AM.
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Old 03-28-2020, 09:21 AM   #15  
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Originally Posted by Al Czervik View Post
Crandall (good or bad) is responsible for the totally Fd up culture, and the bury your head in the sand middle management. He pitted every employee group against each other.
Young Crandall was just as slimy as any manager today. Old Crandall could create a stable transportation system.
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Old 03-29-2020, 07:25 AM   #16  
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Default Francisco lorenzo

Along with Gordon Gecko and Bud Fox, made the airline business one of the most corrupt businesses in the world. Using CH 11 to usurp contracts and just dump your obligations. Miami Air is doing it right now. Management has been getting away with dirty practices for years. It's because they are in the circle of trust AND they meet in Wyoming every year to talk about how to beat labor and abuse the very system they are in charge of. The group actually has a name but I forget it.

The other BIG issue was that, when Reagan was El Presidente, he took money from the very fund you speak of called the "Airway and Airport Development act" and used it for anything but developing anything in our national airspace. Fedrico Pena did get a new airport in Denver but that was a long time ago and the last airport that has been built in quite some time. ATC is still from the 70s yet airlines still pay tax on it. LGA is getting a makeover OH YEAYYYY!

Another issue is that airlines are taxed up the kilt. Look at a ticket if you ever buy one. The TSA tax alone is big. And if you look at what Londons Heathrow charges, you'd be shocked. So it does not surprise me when the airlines come screaming for help. The bailout just gets passed on to another generation while we raise our debt. Truthfully, we are all living on borrowed time and this may be it. Airlines margins, even with ancillary revenue, are razor thin. Some will fall if this pandemic does not get better soon.

Right after Sept 11 if Delta and United did not get bail out money they were shutting down. Here we are again. Is regulation the answer, NO, I do not think it is. However, business practices need to be changed and management held responsible. In Europe, if you file CH 11 you stop flying. The CH 11 laws should be changed for sure.

Lorenzo is still alive to this day and never spent one day in jail. He changed the course of the airline business forever. Guess who was President back then? Do you know whom Lorenzo was friends with, that's right George Bush the VP. My point, the big CEOs have always had Washington on their six.

Let's just hope for the best but as employees, we really need to hold management accountable from now on.
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Old 03-29-2020, 08:00 AM   #17  
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Originally Posted by Braniff DC8 View Post
Along with Gordon Gecko and Bud Fox, made the airline business one of the most corrupt businesses in the world. Using CH 11 to usurp contracts and just dump your obligations. Miami Air is doing it right now. Management has been getting away with dirty practices for years. It's because they are in the circle of trust AND they meet in Wyoming every year to talk about how to beat labor and abuse the very system they are in charge of. The group actually has a name but I forget it.

The other BIG issue was that, when Reagan was El Presidente, he took money from the very fund you speak of called the "Airway and Airport Development act" and used it for anything but developing anything in our national airspace. Fedrico Pena did get a new airport in Denver but that was a long time ago and the last airport that has been built in quite some time. ATC is still from the 70s yet airlines still pay tax on it. LGA is getting a makeover OH YEAYYYY!

Another issue is that airlines are taxed up the kilt. Look at a ticket if you ever buy one. The TSA tax alone is big. And if you look at what Londons Heathrow charges, you'd be shocked. So it does not surprise me when the airlines come screaming for help. The bailout just gets passed on to another generation while we raise our debt. Truthfully, we are all living on borrowed time and this may be it. Airlines margins, even with ancillary revenue, are razor thin. Some will fall if this pandemic does not get better soon.

Right after Sept 11 if Delta and United did not get bail out money they were shutting down. Here we are again. Is regulation the answer, NO, I do not think it is. However, business practices need to be changed and management held responsible. In Europe, if you file CH 11 you stop flying. The CH 11 laws should be changed for sure.

Lorenzo is still alive to this day and never spent one day in jail. He changed the course of the airline business forever. Guess who was President back then? Do you know whom Lorenzo was friends with, that's right George Bush the VP. My point, the big CEOs have always had Washington on their six.

Let's just hope for the best but as employees, we really need to hold management accountable from now on.
How does the employee do that.
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Old 03-29-2020, 08:46 AM   #18  
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Quote:
Originally Posted by Braniff DC8 View Post
Along with Gordon Gecko and Bud Fox, made the airline business one of the most corrupt businesses in the world. Using CH 11 to usurp contracts and just dump your obligations. Miami Air is doing it right now. Management has been getting away with dirty practices for years. It's because they are in the circle of trust AND they meet in Wyoming every year to talk about how to beat labor and abuse the very system they are in charge of. The group actually has a name but I forget it.
The group is called The Pentavrerate. Very sinister!
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