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On 4/24/2003 9:52:28 AM FWAAA wrote:
You are probably correct, except for one thing:
Why on earth would AA spend hundreds of millions filing Ch 11 if the employees willingly sign the TAs as a result of Carty''s (hoped-for) departure?
You really don''t understand just how expensive a trip to the bankruptcy aisle can be, do you? Think Lawyers, Bankers, Accountants, Consultants, etc. They don''t all work for free, you know. They take their money off the top, adding to the already crushing expenses.
But hey, maybe you''re right.
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Because the company won''t have to fight with the most contentious folks of all, labor.
I believe the company will say "OK, we''ve gotten our concessions from labor, let''s try to reorganize the rest of the airline." There may be some additional protection afforded the unions by the company in order to make that happen, if possible under a BK filing.
AMR is already paying BK lawyers, and has been for a couple of months. Might as well get some use from them.
When you look at the situation as a whole, this is the simplest and most logical course of action. By the principle of Occam''s Razor, that is the course they will choose.
TANSTAAFL