House says "No" to Delta-NW and UAL-Continental mergers.
http://www.businessweek.com/bwdaily/dnflas...htm?chan=search
http://www.businessweek.com/bwdaily/dnflas...htm?chan=search
Congress Says "No" to mergers.
- Thread starter novaqt
- Start date
North by Northwest
Veteran
WOW!
Ding Ding! POW!
First round....OBERSTAR!
"Yet, I refuse to believe more mergers are the answer. Mergers may mean short-term profits for investors, but they inevitably mean long-term losses for workers and consumers. The merged carrier is never greater than the sum of its parts. It is always less, often much less. As the executives planning these mergers are polishing their golden parachutes, employees of the affected airlines are worrying about the potential loss of their pensions, their seniority, even their jobs.
This is not what we were promised when we deregulated the airline industry in 1978. If Transportation and Justice will not act to cool this merger mania, then Congress should.
We should just say no. Hell no!
Representative James L. Oberstar (D-Minn.) is Chairman of the House Committee on Transportation & Infrastructure. He has been directly involved in the oversight of the airline industry since 1987.
Ding Ding! POW!
First round....OBERSTAR!
"Yet, I refuse to believe more mergers are the answer. Mergers may mean short-term profits for investors, but they inevitably mean long-term losses for workers and consumers. The merged carrier is never greater than the sum of its parts. It is always less, often much less. As the executives planning these mergers are polishing their golden parachutes, employees of the affected airlines are worrying about the potential loss of their pensions, their seniority, even their jobs.
This is not what we were promised when we deregulated the airline industry in 1978. If Transportation and Justice will not act to cool this merger mania, then Congress should.
We should just say no. Hell no!
Representative James L. Oberstar (D-Minn.) is Chairman of the House Committee on Transportation & Infrastructure. He has been directly involved in the oversight of the airline industry since 1987.
North by Northwest
Veteran
Research who killed United / US Air.
Short answer: Jim Goodwin. CEO of United Airlines.
United killed all advocacy for the merger before antitrust ruled on it. There were various reasons as to why but Oberstar wasn't one of them.
BTW- Where was Oberstar back during the mechanics strike or bankruptcy? Why wasn't he hauling NWA execs before Congress questioning their bonuses while they were terminating their employees pension plans?
whatkindoffreshhell
Veteran
Goodwin was correct. You "perished" anyway. Did your BOD learn anything? Nah.
Why didn't Oberstar haul Tilton or Brace before Congress?
A DL/NW combination would unnecessarily struggle for years a la LCC. Only value is for the stock holders. Jake Brace wins the lottery AGAIN because of your bankruptcy.
AA & CO should make the smart business move by remaining independent and focusing on the airline business instead of nasty and value-draining exercises like 'mergers'.
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