Bankruptcy

Are you worried about BK?

  • No, we have no control over it anyway

    Votes: 40 74.1%
  • Yes

    Votes: 14 25.9%

  • Total voters
    54
I don't have an interest in AA negotiations except the fact that I fly AA nearly every week and would like to see changes to work rules and productivity. It may be hard for you to imagine but some of us outsiders in the financial services community enjoy traveling and specifically the airline industry.

Josh
Financial services, not exactly "friends of labor" the less they pay us the more you can rape them. Plus as a passenger you may figure you get cheaper fares.
 
I don't have an interest in AA negotiations except the fact that I fly AA nearly every week and would like to see changes to work rules and productivity. It may be hard for you to imagine but some of us outsiders in the financial services community enjoy traveling and specifically the airline industry.

Josh
I hope that you dress nice, for your trips.

What work rules and changes in productivity would you like to see?
 
Financial services, not exactly "friends of labor" the less they pay us the more you can rape them. Plus as a passenger you may figure you get cheaper fares.
Financial services...those experts that brought us the latest recession and collapse of the housing market. Perhaps they could work a deal where they loan AMR a whole bunch of money with no collateral--after all we ain't even got cookie doilies left that ain't hocked. Then they can get the taxpayers via the government to pick up the tab. I'm sure that he works for a "too big to fail" financial services company.
 
Financial services...those experts that brought us the latest recession and collapse of the housing market. Perhaps they could work a deal where they loan AMR a whole bunch of money with no collateral--after all we ain't even got cookie doilies left that ain't hocked. Then they can get the taxpayers via the government to pick up the tab. I'm sure that he works for a "too big to fail" financial services company.
Did you see the movie?

You are correct, by giving the company a loan, is like giving the banks a loan that the taxpayers are on the hook for, only the taxpayer in this case is the employees.
 
Financial services...those experts that brought us the latest recession and collapse of the housing market. Perhaps they could work a deal where they loan AMR a whole bunch of money with no collateral--after all we ain't even got cookie doilies left that ain't hocked. Then they can get the taxpayers via the government to pick up the tab. I'm sure that he works for a "too big to fail" financial services company.

My employer played an instrumental role in AMRs restructuring and has continued to provide the company liquidity.

Josh
 
My employer played an instrumental role in AMRs restructuring and has continued to provide the company liquidity.

Josh
with all due respect, whatever relationships your employer has with AMR doesn't include any requirement or even necessity for you to "help" them here. You, and everyone else here, act as private citizens in our roles here even though we (most) still have the desire to see AA and its employees both succeed.
 
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My employer played an instrumental role in AMRs restructuring and has continued to provide the company liquidity.

Josh

"Continues to provide the company liquidity"

He says it like it's a charity. If you recall back in 2003 the company claimed that if they went below $1 billion in cash that they would be bankrupt, this was because of a covenant. The covenant was on a loan for $800 million. So in other words AA had to have $1 billion in cash to borrow and pay interest on $800 million. Now the figure is up to $3 billion.

Banks make money by lending money. They don't really make a product or provide a service, other than transferring numbers. By saddling companies with requirements that drive up their debt they drive up their profits. So by placing covenants that tie up a companies cash they benefit because it makes the company borrow more than it really needs to borrow, and it transfers profits from the carrier to the banks by doing so.

Like I said, they have an interest in getting us to agree to work for less. What the eggheads forget is that when morale plummets so does the quality of your product. With high load factors and diminished supply quality doesn't really matter so while Josh may complain as a passenger he knows, as the giant leach that his business is, that's not important right now. My guess is his employer provides these services to other carriers as well.

AA and other carriers have driven down labor costs,leaving companies such as Josh's more room to take profits out of the airlines. It really doesn't matter if the carrier ever shows a profit as long as they are making payments. Remember that, "as long as they are making payments". In fact it's better that they don't show profits, because once a carrier starts showing profits there is no longer a crisis, and the crisis is needed to keep employee demands low. If a carrier starts showing profits it increases the risk of a strike, and that means no payments. By keeping AA in the red it helps keep wages down at other carriers as well so from Josh's perspective low wages for us means lower ticket prices and more money going to his employer and more in his paycheck, a win win for him. Now you know why he is here.
 
The covenants assure that AMR will keep large amounts of idle cash in his financial institution where it draws 0.00000001 interest per day. Nothing like having large amounts of cash that you can loan out at 15-20% interest, and it only costs you $0.75 per $1000 to obtain that cash.
 
My employer played an instrumental role in AMRs restructuring and has continued to provide the company liquidity.

Josh
And, as long as AMR......really AA, continues to show 80-85% load factors, and bring in 20-25B in revenue....your company will continue to increase the debt problem at AA!!! Why don't you admit that you work for a loan shark, instead of calling it a "financial institution"??????
 
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And, as long as AMR......really AA, continues to show 80-85% load factors, and bring in 20-25B in revenue....your company will continue to increase the debt problem at AA!!! Why don't you admit that you work for a loan shark, instead of calling it a "financial institution"??????
Yes, where are your company offices, the 99% can Occupy them........
 
My employer played an instrumental role in AMRs restructuring and has continued to provide the company liquidity.

Josh


Now I finally get it.
You are employed by one of those consulting firms that believes they have made a positive diference.

BAHAHHAHAHAHA
 
Oh, CI, 5S, RLG and now Six Sigma under Accenture....

Wow we have a lot of meetings and I still don't understand why the Crew Chiefs are forced to be involved.
 
I don't see him crying about being hosed over by management while making $ millions in bonuses. :lol:
that's because he's not getting HOSED by his management or union!!!!

his firm's management makes millions hosing companies that ultimately end up in BK!!!!