While I don’t feel that Carty needs to resign I wouldn’t agree with WX Guesser by saying that Carty doesn’t shoulder some of the blame for the financial condition of the company. The fact is that goes with the job.
We can sit back and blame it all on Sept 11 but that’s not really accurate, Sept 11 just compounded an already sagging economy. The amount of passengers on all four airplanes that day could have all fit on just one of them, the loads were already very low.
A while back when the APFA was negotiating their contract there was a list going around criticizing frivolous corporate expenditures. Over $7Billion worth. Things such as movie theaters, sports arenas, overpriced first class seat modules etc. The purchase of TWA just resulted in a $900 million dollar write off. The fact is that the company was enjoying phenomenal profits over a six-year period. Part of the reason why they made those profits was because they shortchanged their employees. Carty, and all the other airline executives knew that the bill was coming due. He, and they should have exercised more fiscal responsibility when times were good to insure the liquidity of the company during the hard times. If Carty believed the pundits who in the late nineties claimed that the Business cycle was a pre ‘New Economy†phenomenon then he is even more to blame.
We can sit back and blame it all on Sept 11 but that’s not really accurate, Sept 11 just compounded an already sagging economy. The amount of passengers on all four airplanes that day could have all fit on just one of them, the loads were already very low.
A while back when the APFA was negotiating their contract there was a list going around criticizing frivolous corporate expenditures. Over $7Billion worth. Things such as movie theaters, sports arenas, overpriced first class seat modules etc. The purchase of TWA just resulted in a $900 million dollar write off. The fact is that the company was enjoying phenomenal profits over a six-year period. Part of the reason why they made those profits was because they shortchanged their employees. Carty, and all the other airline executives knew that the bill was coming due. He, and they should have exercised more fiscal responsibility when times were good to insure the liquidity of the company during the hard times. If Carty believed the pundits who in the late nineties claimed that the Business cycle was a pre ‘New Economy†phenomenon then he is even more to blame.
