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On 2/26/2003 5:56:07 PM avek00 wrote:
Folks, give it a rest.
W&G certainly committed more than a few sins over the past few years, but let's face fact: their management expertise SAVED US Airways in the mid-to-late 1990s when many said that "US Scare" couldn't make it. And lest we forget, the Airbus fleet plan and system rationalization began under their watch; without these tools, Siegel couldn't have done squat to restructure US, either inside or outside of BK.
Again, they are not saints, but it's not worth fighting over their reward for at least keeping US alive into the 21st century, IMHO.
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I wish you wouldn't have brought that up; but since you did....
When wolf came on board in 1996 USAirways was already reporting profits in the "black", if you can recall second quarter of 1995. And since folks want to give W&G some kind of rcognition of some sort, I am sure you know that the LATE 90s was a huge "boom" for the entire industry, including poor TWA who for the first time in 1998 had reported a measely net of $1 million. Not bad for an airline who was sinking to oblivion before AA bought them. How I know this? I was trading airline stock (don't laugh) AA, UA, and U and Alaska Airlines, trying to make a quick buck. Not only our industry, but most industries were soaring to the top, and our economy was at the peak of a "boom". Let's not forget in 98, the stock buy back that wolf engaged hedging bets on a merger, never hedging any fuel, and letting Metro Jet get kicked off the BWI map by SW. But that's ok, he got to stay on board long enough to bring in the folks who we are so definitely sure "will save the f%$*#@# day".
You had to be an absolute bumbling business idiot if you couldn't make money in the late 90s, of course IMO.
So much for praise....