What's new
By:

AMR Below $2 and Falling

O

Oliver Stone''s Apprentice

Veteran
Joined
Aug 19, 2002
Messages
786
Reaction score
0
Just after 10am, AMR fell below $2.00, and was last at $1.61 with an hour left in the trading day.

For all of you who think that there's time left on the clock to negotiate, I think the market is proving you very, very wrong.
For all of you who think you'll fare better before a judge, if the market move today is any indication, I fear that you may be getting your chance to find out...
 
AMR closed at $1.59 a share today. Tomorrow is another story. Time is running out for who? The employees or the US government with their patience on IRAQ? No matter what happens if we go to war, concessions or no concessions we all take a hit. I don't believe for one minute that if all the union represented employees take deep cuts and we go to war that AA will not file for Bankruptcy. Whether I have ten or no holidays payed, full pay or half pay, no sick time, no pension plan or whatever AA proposes, we all end up with the same results as soon as the war breaks out. One good thing about union employees...Seniority dictates layoffs. With management it is the best A$$ kisser that keeps his or her job. Me worry? Yea I am worried, but I am not in a panic frenzy over this. I had a job before American and will have a job after I get layed off if it comes to that point.
 
Open a new thread instead of confusing this one and I will give my opinion.
 
The company is seeking concessions till 2008. A lot can happen in 5 years. I'll take my chances in front of a judge, whatever he sticks us with only sticks while in bankruptcy and if we dont like it we can strike.
USAIR workers agreed to concessions prior to bankruptcy, USAIR still went bankrupt and came back for more.When they come out of bankruptcy the concessions that were agreed to prior to bankruptcy still stand-till 2008. They were suckered. What is the incentive to come to an agreement, especially a long term one, prior to bankruptcy? If the judge decides to "punish" us for not agreeing to concessions and decides to whack us, we just shut it down completely, how much would the assetts be worth in the current market? Would a strike be in the creditors best interests?
 
Dave, minimize things however you want to, but our stock is now worth just slightly more than a Whopper with cheese, including tax...

HNBB, I don't want to get into a political discussion, but while war is never a good thing, it is sometimes unavoidable.
 
[blockquote]
----------------
On 3/11/2003 4:53:49 PM RV4 wrote:
Based on management strategy at this airline, I would get out too. In fact I already did!


----------------
[/blockquote]

Get out of the stock or out of the airline?
 
"Ok, here we go"
I ask this question, VERY seriously.
So far , the posters on this(at present) thread, elosen, RV4(dave),1AA, and KCFlyer, are all PB/BB's/usaviation HEAVY HITTERS.

There is(on top of everything else) the possibility that 70,000 jobs will be lost in the industry, if we go after Iraq.

Question to eoleson,RV4,1AA & KCFlyer;

"SHOULD WE GO TO WAR WITH IRAQ" ????????????

I'll provide my own answer to this question, after I hear from you 4 gents.

NH/BB's
 
If the stock price is the FEAR gauge then we should have been hiding under the bed with our windows sealed with Duct Tape and Plastic Sheeting along time ago.

Is this eolesons "elevated" Bankruptcy Alert and we just advanced to orange from yellow alert?

It looks as if 15 Million Shares were traded/sold this must institutional buyers on the way out. Based on management strategy at this airline, I would get out too. In fact I already did!
 
[blockquote]
----------------
On 3/11/2003 5:06:41 PM NewHampshire Black Bears wrote:

"Ok, here we go"
I ask this question, VERY seriously.
So far , the posters on this(at present) thread, elosen, RV4(dave),1AA, and KCFlyer, are all PB/BB's/usaviation HEAVY HITTERS.

There is(on top of everything else) the possibility that 70,000 jobs will be lost in the industry, if we go after Iraq.

Question to eoleson,RV4,1AA & KCFlyer;

"SHOULD WE GO TO WAR WITH IRAQ" ????????????

I'll provide my own answer to this question, after I hear from you 4 gents.

NH/BB's
----------------
[/blockquote]
Should we go to war? Well one has nothing to do with the other unless you have Bush, Carty and Powell discussing war and airline strategies. Going to war is a global issue or at least for the moment a US and British issue. What happens to the airlines or AA in particular will only be dictated by the strength of the economy. If AA continues to release doom and gloom news to the press it sure does not help us one bit. AA needs to stop riding on the war coat tails issue and start concentrating on issues during a war and after the war. I am no anaylst or a financial wizard, but at least AA should curb their negative press releases. All that does is drop the value of the stock to another low. I agree with Bob Owens. Let the judge make the call. Once out of Bankruptcy the judge is out of the picture. I can not see AA in BK until 2008. My opinion of course for whatever it is worth.
 
[blockquote]
If AA continues to release doom and gloom news to the press it sure does not help us one bit. AA needs to stop riding on the war coat tails issue and start concentrating on issues during a war and after the war.
[/blockquote]

C'mon, don't give AA all the credit; the union leaders have been quoted quite a bit too.
 
The complete lack of knowledge and the misinformation about bankruptcy, and its effect on the status of prior labor contracts during BK and the status after BK, being set forth on this board as reasons to take, or not to take, actions - is utterly apalling!

I put my life in your hands each time I fly and thus must trust you implicitly in your ability to do your job, either in the air or on the ground. I know you personally worked hard mentally and physically for your professional 'ticket'. I just wish your labor unions made sure you understand the pros and cons of the hard choices you will have to soon make. Obviously, many of you refuse to believe anything which originates from AA management.
 
You must log in or register to reply here.

Latest posts

Back
Top