AMR chief says...

[Jacobin777]

ANYONE who would go into business with Horton & CO. must be completely off his rocker.​

Anything of intelligence to say? <_<

I'll put my "hypothesis hat" now. AA "merges" with US basically while in BK. Not the post-BK "merger" I was first thinking (though I think that will be the final outcome in a few years). The pilots' union and possibly the F/A unions will accept it. Like UA's Tilton, Horton at first will be Chairman, but eventually after a year or two becomes non-executive chairman and Parker runs the show as President/CEO out of DFW.

Its a "win-win" for Horton, Parker, the creditors and the pilot's union. Though in the end, I think the it will be really the pilot's union which loses out-which I think is a shame as AA currently is offering the pilots union quite a bit currently.

 

[whatkindoffreshhell]

Once again, a union seniority dispute among the pilots isn't keeping Parkers hands full. Other than the pilots and fa's, the rest of the workgroups are and have been merged for years.
Willie will get his biggest chunk of the US with US...

This.

Doug Parker cannot carry Willie's jockstrap.

 

[wings396]

This.

Doug Parker cannot carry Willie's jockstrap.

Well, this is the hands down winner of the "Dumbest Post Of the Week Award".....
Congrats......

 

[700UW]

Funny Willie of IAG isnt known being a friend of labor and the IAG group that Willie heads just announced a large loss due to Iberia, and we all know BA has had its troubles lately.

http://www.bbc.co.uk/news/business-19107667

And like everyone says they cant own more than 25% equity in a US airline.

 

[TWU informer]

I know, 700UW, you're preaching to the choir here.
My post was asking that all those who keep repeating that there be consensual deals to exit BK to please show where in the BK code does it say that.
I haven't found it. therefore doesn't exist.

It is because the Unsecured Creditors Committee requires the agreements to approve a POR, not because the LAW requires it. Why are there so many uninformed and thick skulled humans in this profession?

Doesn't really matter who or what requires it, the point is the requirement normally will exist.

 

[700UW]

The UCC doesnt have the power under the law to make sure their is a consensual agreement in place. They do approve the POR and the POR would contain provisions for labor costs going into the future.

It doesnt exist, once again, stick to welding and not practicing law, go ask Levine about consensual agreements.

 

[OldGuy@AA]

OldGuy tells AMR chief to skip a puddle and break a leg.

 

[WorldTraveler]

The reason why creditors have not allowed companies to emerge from BK w/ open labor contracts is because of the instability and uncertainty. Creditors don't want to allow a company that they are taking a haircut on to emerge and then end up w/ labor problems in a couple years - or less.

Part of IAG's stock - at least 12% - is owned by Spanish banks that have said they need to get rid of that stock as part of Spain's appeals to the EU for a bank bailout. IAG's concern right now is finding a "friendly" to buy that stock or ponying up the money to buy it back itself.

 

[wings396]

If they emerge from BK with a US merger and Parkers labor agreements, does that fair better?

 

[WorldTraveler]

If they merge in BK, then the creditors have let go of control of the company and have accepted the proposed recovery for their losses in BK.

The concept of open labor contracts applies if a company emerges on its own.

 

[wings396]

But with Parkers offer, would they still be considered open agreements or not?

 

[700UW]

Of course they are open, they arent negotiated complete CBAs, they are MOUs to be negotiated later on if a merger is done.

 

[WorldTraveler]

Of course they are open, they arent negotiated complete CBAs, they are MOUs to be negotiated later on if a merger is done.

exactly... but the chances that AA labor would jump into US' arms w/o pretty tightly defined agreements are not terribly great.

Parker is torn by the fact that he can't negotiate w/ AA's labor groups until they are his own but they are not going to settle for anything until all of the facts are known.
Telling AA employees that "we'll iron out the details" after the ink on the marriage license is dry is probably a bit more than most at AA are going to accept.

The best way for Parker to convince AA employees of what they would have under him would be to give US employees what he promised to give to AA employees.

 

[Jacobin777]

exactly... but the chances that AA labor would jump into US' arms w/o pretty tightly defined agreements are not terribly great.

Parker is torn by the fact that he can't negotiate w/ AA's labor groups until they are his own but they are not going to settle for anything until all of the facts are known.
Telling AA employees that "we'll iron out the details" after the ink on the marriage license is dry is probably a bit more than most at AA are going to accept.

The best way for Parker to convince AA employees of what they would have under him would be to give US employees what he promised to give to AA employees.

He hasn't gotten his own unions signed on that end...good luck in him promising (and signing) the US employees what he promised AA.. <_<

 

[xUT]

It doesnt exist, once again, stick to welding and not practicing law, go ask Levine about consensual agreements.

Nice stick Lavman...