Bankruptcy Quotes

[chris perry]

Northwest must significantly lower its costs to compete with other carriers. Many of these are legacy
carriers that have already used the bankruptcy process to achieve changes in their cost structures or
newer, low-cost carriers which have much lower labor and operating costs than legacy carriers.

Doesn't this sound familiar?

 

[jimntx]

And?

 

[Buck]

Will Strike If Provoked!​

We'll Get'em Next Time Brother!​

"Airline workers are the 99 percent." ​

 

[Overspeed]

If the Wright brother were alive today Wilbur would have to fire Orville to reduce costs.

— Herb Kelleher, Southwest Airlines, USA Today, 8 June 1994.

The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.

— Warren Buffett, annual letter to Berkshire Hathaway shareholders, February 2008.

 

[Overspeed]

Bankruptcy as a solution is kind of un-American.

— Tom Horton, then Chief Financial Officer (now the new CEO), American Airlines, USA Today newspaper, 6 April 2006.

 

[Buck]

Bankruptcy as a solution is kind of un-American.

— Tom Horton, then Chief Financial Officer (now the new CEO), American Airlines, USA Today newspaper, 6 April 2006.

Nice find oh Speedy One. So did the union know that bankruptcy was being discussed then also?

 

[chris perry]

Capitalism without bankruptcy is like Christianity without hell.
Frank Borman

 

[jimntx]

One of my favorites is attributed to one of the founders of British Airways, but I can't find a confirmed source...

"When you have to tighten your belt, it's a recession. When you lose your belt, it's a depression. When you have no trousers, you're in the airline business."

 

[Hopeful]

Bankruptcy as a solution is kind of un-American.

— Tom Horton, then Chief Financial Officer (now the new CEO), American Airlines, USA Today newspaper, 6 April 2006.

And now he is being cheered by corporate America for finally sticking it to those greedy unions....

HIP HIP HOORAY!

 

[TWU informer]

"AMR had about 80,800 employees at the end of September 2011, including 67,100 at American, with the rest at American Eagle, cargo operations and other units, according to the company's October earnings release. American has 8,700 active pilots, with another 950 on furlough, and 17,000 flight attendants."

Business Week - November 30, 2011

 

[tech2101]

"Hopefully they can right-size themselves so they can become a thriving carrier again."

From Yeager Airport Director - Belcher

I hate the term "rightsize"

 

[Buck]

"At the end of every seven years you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the LORD's release" (Deuteronomy 15:1-2).

 

[Tex-Mech]

TWU[International] is the sole representative in Bankruptcy Court for representing the interests of TWU members and protecting, as best as possible, their collectively bargained rights and rates of pay benefits and working conditions. Jim Little 12/8/2011 😱

 

[jimntx]

I hate the term "rightsize"

Here's the difference. If you are downsizing, then managers also lose their jobs. If you are rightsizing, only worker bees get canned. Any more questions?

 

[Frank Szabo]

"Hopefully they can right-size themselves so they can become a thriving carrier again."

From Yeager Airport Director - Belcher

I hate the term "rightsize"

It fits in with "Rightthink".