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Are DOJ, US Airways, & American Airlines Settlement Talks in the Works?
Monday, October 15th: 68 Democratic Congressman Send Joint Letter To President Obama To Urge Administration To Reconsider Its Efforts To Prevent The American And US Airways Merger From Going Forward
Wednesday, October 16th:[background=rgb(250, 250, 250)] [/background]Tom Horton talks a little bit about a settlement in the American Airlines-US Airways lawsuit
[background=rgb(250, 250, 250)]· “I just don’t think it would be appropriate to comment on settlement discussions. I wouldn’t comment beyond that.”[/background]
[background=rgb(250, 250, 250)]· And back on the settlement, we do remain open to a sensible, commonsense settlement. We do. We’re being very thoughtful about that.” When we suggested that the DOJ’s idea of a reasonable settlement seems to be that the two airlines agree not to merge, Horton replied, “That remains to be seen. We haven’t got to the trial date yet.”[/background]
[background=rgb(250, 250, 250)]· [/background]See Story:[background=rgb(250, 250, 250)] [/background]http://aviationblog.dallasnews.com/2...ews-here.html/
Thursday, October 17th: American announces its financial results
[background=rgb(250, 250, 250)]· American announced on Wednesday two new Dallas-Asia routes, and on Thursday it reported a record quarterly Profit, leading one to question whether American can't prosper all by itself. "Of course," said CEO Tom Horton in an interview. "You just have to look at the results. American has been very successful. (But) it will have a stronger network and be more competitive globally with a merger."[/background]
[background=rgb(250, 250, 250)]· Horton continued to maintain that American is open to a settlement with the Department of Justice, which has sued to block the merger. That case is scheduled to be heard in U.S. District Court in Washington starting Nov. 25.[/background]
[background=rgb(250, 250, 250)]· "We are open to a sensible and common sense settlement from Department of Justice," he said. "We were able to sit down with the Texas attorney general and find significant (common ground.) That is the right template for the Department of Justice."[/background]
[background=rgb(250, 250, 250)]· [/background]See Story: http://www.thestreet.com/story/12073...o&cm_ven=YAHOO
Thursday, October 17th: Tom Horton's Interviews With the Ft. Worth Star Telegram
[background=rgb(250, 250, 250)]· AMR's CEO discusses the carrier’s strong financial performance and whether the merger with US Airways is still in the cards for the Fort Worth-based airline.[/background]
[background=rgb(250, 250, 250)]· [/background]On the recent public campaign to put pressure on the DOJ:[background=rgb(250, 250, 250)] I do think it is important and relevant that there is near universal support for this merger. I think it is important that is made evident. We obviously believe in the merger. We think it’s good for all of American’s constituents. It’s good for all of US Airways’ constituents. We’re going to do our best to tell that story everywhere that it’s appropriate. We’re now in the zone where this will be a question for the Justice Department and the courts and we’re respectful of that.[/background]
[background=rgb(250, 250, 250)]· [/background]On if American’s financial success diminishes the need for a merger with US Airways:[background=rgb(250, 250, 250)] As we said from the outset, of course American is going to be very successful after having been restructured. I think the results speak for themselves there but the merger will make us stronger because it will give us a bigger, broader network and allow us to be even more globally competitive. So we’ll be successful but we’ll be even more successful with the merger.[/background]
[background=rgb(250, 250, 250)]· [/background]On if a profitable American and profitable US Airways hurts their case in the antitrust trial against the DOJ:[background=rgb(250, 250, 250)] [/background]Strong companies merge all the time and we think a strong company means a strong merger and the standard for the DOJ is to prove that the merger is anticompetitive, not whether or not American or US Airways is making a profit.
[background=rgb(250, 250, 250)]· [/background]On the recent public campaign to put pressure on the DOJ:[background=rgb(250, 250, 250)] I do think it is important and relevant that there is near universal support for this merger. I think it is important that is made evident. We obviously believe in the merger. We think it’s good for all of American’s constituents. It’s good for all of US Airways’ constituents. We’re going to do our best to tell that story everywhere that it’s appropriate. We’re now in the zone where this will be a question for the Justice Department and the courts and we’re respectful of that.[/background]
[background=rgb(250, 250, 250)]· [/background]See Story:[background=rgb(250, 250, 250)] [/background]http://blogs.star-telegram.com/sky_t...-our-time.html
Friday, October 18th: Tom Horton and Doug Parker meet with the Dallas News Editorial Board
[background=rgb(250, 250, 250)]· Noting the recent settlement with the TX AG the executives noted the deal "is an indication that when two parties sit down and talk, you can come to an understanding" Horton said. [/background]
[background=rgb(250, 250, 250)]· Parker told [/background]The[background=rgb(250, 250, 250)] [/background]Morning News[background=rgb(250, 250, 250)] that getting a settlement requires education and sitting down to talk. “We’re going through the deposition process. That’s helping some facts to get out,” he said.[/background]
[background=rgb(250, 250, 250)]· See Story: [/background]http://www.dallasnews.com/business/a...-the-works.ece
Question:[background=rgb(250, 250, 250)] [/background][background=rgb(250, 250, 250)]During the past 4 business days 68 Democratic Congressman sent a joint letter to President Obama urging him to influence AG Holder to not oppose AMR and US Airways' merger to go forward. In addition, Tom Horton held one press conference, AMR issued two press releases, Tom Horton was interviewed by the Ft. Worth Star-Telegram, and Doug Parker and Tom Horton were both interviewed by the Dallas News. In each of these corporate events the companies and their chief executives spoke about a settlement with the Justice Department. Why was there so many overt company actions to speak about a settlement last week and are settlement talks in the works?[/background]
Monday, October 15th: 68 Democratic Congressman Send Joint Letter To President Obama To Urge Administration To Reconsider Its Efforts To Prevent The American And US Airways Merger From Going Forward
Wednesday, October 16th:[background=rgb(250, 250, 250)] [/background]Tom Horton talks a little bit about a settlement in the American Airlines-US Airways lawsuit
[background=rgb(250, 250, 250)]· “I just don’t think it would be appropriate to comment on settlement discussions. I wouldn’t comment beyond that.”[/background]
[background=rgb(250, 250, 250)]· And back on the settlement, we do remain open to a sensible, commonsense settlement. We do. We’re being very thoughtful about that.” When we suggested that the DOJ’s idea of a reasonable settlement seems to be that the two airlines agree not to merge, Horton replied, “That remains to be seen. We haven’t got to the trial date yet.”[/background]
[background=rgb(250, 250, 250)]· [/background]See Story:[background=rgb(250, 250, 250)] [/background]http://aviationblog.dallasnews.com/2...ews-here.html/
Thursday, October 17th: American announces its financial results
[background=rgb(250, 250, 250)]· American announced on Wednesday two new Dallas-Asia routes, and on Thursday it reported a record quarterly Profit, leading one to question whether American can't prosper all by itself. "Of course," said CEO Tom Horton in an interview. "You just have to look at the results. American has been very successful. (But) it will have a stronger network and be more competitive globally with a merger."[/background]
[background=rgb(250, 250, 250)]· Horton continued to maintain that American is open to a settlement with the Department of Justice, which has sued to block the merger. That case is scheduled to be heard in U.S. District Court in Washington starting Nov. 25.[/background]
[background=rgb(250, 250, 250)]· "We are open to a sensible and common sense settlement from Department of Justice," he said. "We were able to sit down with the Texas attorney general and find significant (common ground.) That is the right template for the Department of Justice."[/background]
[background=rgb(250, 250, 250)]· [/background]See Story: http://www.thestreet.com/story/12073...o&cm_ven=YAHOO
Thursday, October 17th: Tom Horton's Interviews With the Ft. Worth Star Telegram
[background=rgb(250, 250, 250)]· AMR's CEO discusses the carrier’s strong financial performance and whether the merger with US Airways is still in the cards for the Fort Worth-based airline.[/background]
[background=rgb(250, 250, 250)]· [/background]On the recent public campaign to put pressure on the DOJ:[background=rgb(250, 250, 250)] I do think it is important and relevant that there is near universal support for this merger. I think it is important that is made evident. We obviously believe in the merger. We think it’s good for all of American’s constituents. It’s good for all of US Airways’ constituents. We’re going to do our best to tell that story everywhere that it’s appropriate. We’re now in the zone where this will be a question for the Justice Department and the courts and we’re respectful of that.[/background]
[background=rgb(250, 250, 250)]· [/background]On if American’s financial success diminishes the need for a merger with US Airways:[background=rgb(250, 250, 250)] As we said from the outset, of course American is going to be very successful after having been restructured. I think the results speak for themselves there but the merger will make us stronger because it will give us a bigger, broader network and allow us to be even more globally competitive. So we’ll be successful but we’ll be even more successful with the merger.[/background]
[background=rgb(250, 250, 250)]· [/background]On if a profitable American and profitable US Airways hurts their case in the antitrust trial against the DOJ:[background=rgb(250, 250, 250)] [/background]Strong companies merge all the time and we think a strong company means a strong merger and the standard for the DOJ is to prove that the merger is anticompetitive, not whether or not American or US Airways is making a profit.
[background=rgb(250, 250, 250)]· [/background]On the recent public campaign to put pressure on the DOJ:[background=rgb(250, 250, 250)] I do think it is important and relevant that there is near universal support for this merger. I think it is important that is made evident. We obviously believe in the merger. We think it’s good for all of American’s constituents. It’s good for all of US Airways’ constituents. We’re going to do our best to tell that story everywhere that it’s appropriate. We’re now in the zone where this will be a question for the Justice Department and the courts and we’re respectful of that.[/background]
[background=rgb(250, 250, 250)]· [/background]See Story:[background=rgb(250, 250, 250)] [/background]http://blogs.star-telegram.com/sky_t...-our-time.html
Friday, October 18th: Tom Horton and Doug Parker meet with the Dallas News Editorial Board
[background=rgb(250, 250, 250)]· Noting the recent settlement with the TX AG the executives noted the deal "is an indication that when two parties sit down and talk, you can come to an understanding" Horton said. [/background]
[background=rgb(250, 250, 250)]· Parker told [/background]The[background=rgb(250, 250, 250)] [/background]Morning News[background=rgb(250, 250, 250)] that getting a settlement requires education and sitting down to talk. “We’re going through the deposition process. That’s helping some facts to get out,” he said.[/background]
[background=rgb(250, 250, 250)]· See Story: [/background]http://www.dallasnews.com/business/a...-the-works.ece
Question:[background=rgb(250, 250, 250)] [/background][background=rgb(250, 250, 250)]During the past 4 business days 68 Democratic Congressman sent a joint letter to President Obama urging him to influence AG Holder to not oppose AMR and US Airways' merger to go forward. In addition, Tom Horton held one press conference, AMR issued two press releases, Tom Horton was interviewed by the Ft. Worth Star-Telegram, and Doug Parker and Tom Horton were both interviewed by the Dallas News. In each of these corporate events the companies and their chief executives spoke about a settlement with the Justice Department. Why was there so many overt company actions to speak about a settlement last week and are settlement talks in the works?[/background]
