Bankrupt
- Thread starter sentrido
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PhillyFlyGuy
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- Nov 21, 2002
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News to me. I live in Canada and I have been watching CTV news and nothing mentioned. Where did you hear that from?sentrido said:Word from Canada(Bombardier) is that USAir has filed.
Can anyone confirm?
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Might he have gotten the gist wrong? The difference could be will file as opposed to has filed.
I believe the news in the US would have goten wind of this, kind of hard to keep it a secret.
I believe the news in the US would have goten wind of this, kind of hard to keep it a secret.
The stock is still trading, though sharply lower ($1.52/shr, down $0.23/shr (13%) since the open). An interview on CBS MarketWatch just put the odds of bankruptcy on Sunday at "better than 50-50" and chances of reaching an agreement with the pilots in time "much less than 50-50."
There is no press release from the company and undoubtedly there will be some prepared statement by Bronner or Lakefield releases concurrently with the filing.
genejockey
Advanced
Rumor circulated PHL yesterday and it was also false. Everyone knows that BK will occur though. Know one should even remotely be surprised. Good luck to all!
DCAflyer said:
I will have to disagree with this statement. The way that the US employees usually find out is from the passengers at the ATOs and on the phones. Then the media will announce it and then BamaMan and team will make the announcement. Management is never proactive on communicating with their employees. :angry:
Thats true about everything major, the news media and the rest of the world know first. Who else remembers reading about the United-US Airways merger in the newspaper?
Unfortunately for all involved, by Monday morning, the original post will probably be correct.
Can USAir be fixed? I'm not convinced it can. Love to be proven wrong, though.
Can USAir be fixed? I'm not convinced it can. Love to be proven wrong, though.
Most of us believe US management has it's own agenda, and that includes BK regardless of what labor accords are reached. I know of no one, and I mean NO ONE, that has any confidence in this current management group. Personally, I wouldn't give them a dime. If we had a new team and new BOD, it might be a different story.
I didn't say the company communicated with its employees. I said there would be a concurrent press release. Last time most employees (myself included) found out directly or indirectly from the media, which found out from the company via press release. It's called damage control.Schatzee said:
If Usairways files for Bankruptsy lets hope its Ch 11 and not CH 7 and if its Ch 11 lets hope that they can emerge.
Of course we all know what this means for workers "protected" by unions .
Thats right they have no protections whatsoever .
Yep its a dog eat dog world out there.
But I also expect that Delta will file soon followed by the rest of the majors.....
Unfortunately I doubt there is any airline in any position to fill the void of any airline that goes out of business...A lot of communities will suffer .
International routes would suffer because no LLC can go to the Caribbean or transatlantic routes without their cost going up and thus bleeding whatever cash they have...
So the outcome will be Corporation win ..labor loses ....
same outcome if you agree to concession now.
Another thought I heard the other day ..even if Usairways dont get the concessions they want ...I wonder if this is possible....
Any routes not making money will be cut ..so of course furloughs ....
A lot more maintenance will be constracted out and mechanics will be furloughed and of course IAM can sue but it will take years to settle and by time they settle .....well fill in the blanks..
How many pilots you think is near retirement age ......how many other employee due to retire ....yep...attrition....
So the cost savings will come ...just later rather than sooner and same outcome ..labor loses..
We dont need to examine if Usairways goes Ch 7 because then we workers do not only lose yeh we get screwed....some more than other right Pilots ....and the we rest of us will glady blame the sky gods ..
Of course we all know what this means for workers "protected" by unions .
Thats right they have no protections whatsoever .
Yep its a dog eat dog world out there.
But I also expect that Delta will file soon followed by the rest of the majors.....
Unfortunately I doubt there is any airline in any position to fill the void of any airline that goes out of business...A lot of communities will suffer .
International routes would suffer because no LLC can go to the Caribbean or transatlantic routes without their cost going up and thus bleeding whatever cash they have...
So the outcome will be Corporation win ..labor loses ....
same outcome if you agree to concession now.
Another thought I heard the other day ..even if Usairways dont get the concessions they want ...I wonder if this is possible....
Any routes not making money will be cut ..so of course furloughs ....
A lot more maintenance will be constracted out and mechanics will be furloughed and of course IAM can sue but it will take years to settle and by time they settle .....well fill in the blanks..
How many pilots you think is near retirement age ......how many other employee due to retire ....yep...attrition....
So the cost savings will come ...just later rather than sooner and same outcome ..labor loses..
We dont need to examine if Usairways goes Ch 7 because then we workers do not only lose yeh we get screwed....some more than other right Pilots ....and the we rest of us will glady blame the sky gods ..
EyeInTheSky
Veteran
Yeah, blame the people that have contributed THE MOST out of their pockets to keep the company afloat. Nice attitude. If anybody is to blame why not blame all the employees. Didn't we all think the parade was going to end at some point given what has been going on the past 10 years? C'mon let's get real here. And, let's face it, the employee groups have only come around within the past few years on calling management to get their act together. Sad to say but this all may be too late and I can't fault just the pilots. That's just too easy and shows lack of cognitive thinking.
Everyone has had it way too easy at USAIR until the last 3 or 4 years. Now its time to realize that everyone was getting way overpaid on the mainline side of the operation for what they were doing. Look at all the folks at express who do the same job as mainliners for 1/3 the price. The express pilots, gate agents, rampers, everyone. I don't feel bad for mainliners, plus they always had a bad attitude twords the express people like we were inferior to them or something. I don'y wish that people lose their jobs but thats in the unions hands now. The company has the upper hand, and I don't like it as much as anyone here but thats the reality folks. Last pay till the last day is all fine and dandy but wake up from your dream worlds. Who the hell is gonna pay you people $20 /hr to load airplanes or check people in!! Express people do that for $6/hr at PSA!!!
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