Dr. Bronners Sympathy

[seeking the truth]

The value of RSA's stock has plunged to less than $100 million. Bronner said he has accepted that all of his investment could evaporate in bankruptcy court, where shareholders' claims take a back seat to creditors.

If that should occur, it would be the pension fund's biggest loss in Bronner's 31-year stewardship -- but less than 1 percent of the pension funds' assets.

"No one wants to lose a quarter of a billion dollars,'' Bronner said, "but what bothers me more is when a guy loses his job. Because he has to go home and say to his family, 'How do we live?' ''

Seeking comments: nor does the guy in the above mentioned article Mr. Bronner wish to vote himself out of a job by going along with all the concessions being asked of all union groups and then the massive job loss on top of it. Finish the quote Mr. Bronner " but what bothers me more is when employees refuse to vote for concessions knowing that they will be layed off with no chance of returning anyhow and have to go home and tell their families they did so and Dr. Bronner is losing his too.

 

[FM2436]

The value of RSA's stock has plunged to less than $100 million. Bronner said he has accepted that all of his investment could evaporate in bankruptcy court, where shareholders' claims take a back seat to creditors.

If that should occur, it would be the pension fund's biggest loss in Bronner's 31-year stewardship -- but less than 1 percent of the pension funds' assets.

"No one wants to lose a quarter of a billion dollars,'' Bronner said, "but what bothers me more is when a guy loses his job. Because he has to go home and say to his family, 'How do we live?' ''

Seeking comments: nor does the guy in the above mentioned article Mr. Bronner wish to vote himself out of a job by going along with all the concessions being asked of all union groups and then the massive job loss on top of it. Finish the quote Mr. Bronner " but what bothers me more is when employees refuse to vote for concessions knowing that they will be layed off with no chance of returning anyhow and have to go home and tell their families they did so and Dr. Bronner is losing his too.

[post="170098"][/post]​

BHAAA BHAA BHAA HAA HAA Haa haa.

Do your really believe the RSA is going to fire Bronner over a 1% mistake. He's the most successful manager they've ever had regardless of what happens with US Airways. And if the RSA were to fire Bronner, which is highly unlikely, do you really believe the man who has managed one of the best, if not the best, public employee retirement programs in America will lose his house and need to ask his wife how are they going to live?

I bet you thought David Seigel would be standing in the unemployment line after he was asked to leave US Airways.

 

[sentrido]

How about when they sent me a letter stating how the airbus farmout wasnt going to cause any layoffs? Already being layed-off, I was more than a little pissed.

Anyway, he should give the people at U a little credit, 'How do we live?', come on?
The same way people have been living forever. Finding a job and moving on. Why save the RSA's money to have a bad paying job at U when you can just have a bad paying job?

 

[cavalier]

Finish the quote Mr. Bronner " but what bothers me more is when employees refuse to vote for concessions knowing that they will be layed off with no chance of returning anyhow and have to go home and tell their families they did so and Dr. Bronner is losing his too.

[post="170098"][/post]​

You will never get into that guy’s mind, and you will never discredit him considering his lifetime accomplishments, that would be impossible. This fluke he made with U only shows that he is human.

He made the investment looking at the potential high end results never thinking of the mind set of the employees, which being battered don’t follow normal text book rules on which he counted.

He is obviously a very good gambler, that’s all a good business man is mixed with knowledge of the game of course.

It is easy for the U employees to think he is bluffing saying U could be finished considering all they have been faced with for years on end. Airline employee are like battered wives.

To think Bronner is bluffing when he says U could be finished is like saying Donald Trump is only kidding when he looks in your face and says you’re fired, these guys don’t bluff and why it‘s not called poker.

 

[seeking the truth]

BHAAA BHAA BHAA HAA HAA Haa haa.

Do your really believe the RSA is going to fire Bronner over a 1% mistake.

I bet you thought David Seigel would be standing in the unemployment line after he was asked to leave US Airways.


FM2436 the answer to question #1 is no and also no to your second statement.

But Bronner says " what bothers him more is when a guy loses his job, he has to go home to his family and say how do we live. Yet, if this same hypothetical guy in this qoute votes yes for concessions and still loses his job due to the layoffs that would ensue, then I guess this hypothetical guy would now" feel better " when he tells his family and say how do we live. While upper management makes millions!!!

 

[cavalier]

While upper management makes millions!!!

[post="170163"][/post]​

Welcome to Life?

I have been around for over a half a century and this is I am afraid the status-quo like it always has been unless you become one of "them".

 

[oldiebutgoody]

Bronner is also presently involved in a sort of feud with the governor concerning funding for the pension plan. A failure here, at this time, would be VERY bad for him.

 

[whatkindoffreshhell]

I'm no CPA, but how do you know that Bronner hasn't already recouped his initial USAir investment by drawing money out gradually since the day of his initial investment?

Or how about using the USAir losses as a shield against other RSA profits?

Bronner didn't achieve his position in life by being stupid or nonchalant regarding a $100mil loss.

He's already made his money from USAir, just as Warren Buffet and British Air did prior to walking away.

 

[cavalier]

I'm no CPA, but how do you know that Bronner hasn't already recouped his initial USAir investment by drawing money out gradually since the day of his initial investment?

Or how about using the USAir losses as a shield against other RSA profits?

Bronner didn't achieve his position in life by being stupid or nonchalant regarding a $100mil loss.

He's already made his money from USAir, just as Warren Buffet and British Air did prior to walking away.

[post="170176"][/post]​

Warren Buffet admitted his was a mistake, a mistake doesn't equal profit.

BA, I don't know didn't follow that one.

Bronner must have a good recipe for cooking the books and then also avoiding the legal hurtle to keep him honest.

What this all comes down to is one little big word.....DENIAL of the hard and very cruel facts that face the U employees. I guess this is a coping mechanism.

 

[WorldTraveler]

Very few major investors have been able to avoid the "allure" of investing in airlines. They all learn eventually. It bit Bronner but he really is not too exposed to get him in any real trouble.

 

[PITbull]

BHAAA BHAA BHAA HAA HAA Haa haa.

Do your really believe the RSA is going to fire Bronner over a 1% mistake.

I bet you thought David Seigel would be standing in the unemployment line after he was asked to leave US Airways.


FM2436 the answer to question #1 is no and also no to your second statement.

But Bronner says " what bothers him more is when a guy loses his job, he has to go home to his family and say how do we live. Yet, if this same hypothetical guy in this qoute votes yes for concessions and still loses his job due to the layoffs that would ensue, then I guess this hypothetical guy would now" feel better " when he tells his family and say how do we live. While upper management makes millions!!!

[post="170163"][/post]​

Seeking,

Good point.

 

[PITbull]

Bronner is also presently involved in a sort of feud with the governor concerning funding for the pension plan. A failure here, at this time, would be VERY bad for him.

[post="170167"][/post]​

Guess Bronner may have a little of a hard time convincing his $4 million residents that he IS still God, even though HIS airline is having some problems he can't work out.

He may just need a little more funding for his campaign for governor, when he runs.

 

[Rico]

What is with all of the hostility towards the guy...?

You guys are funny, blame anyone you can point a finger at. Man, so freaking negative and jaded... that you think he is insincire no matter what he says.


Realize this, if US goes into BK, and some investment group makes a move on Airways, you will miss Dr. Bronner.

No one, and I mean no one is going to come in, take over, and do anything but break us up and sell us off, ala Gordon Gekko (from the movie Wall Street).


So cut the guy some slack. Geeze :blink:

 

[colorado_cowboy]

Didnt Bronner also say while puffing on a big fat one (cigar that is) "I hate to lose"?

 

[seeking the truth]

Rico,

No hostility, just pointing out the facts. Think about this, if it were your money in this sea of red ink, would you remain "unseen" or make yourself visible to the employees and be open and honest with them. Tell them things they might not want to hear, but at least they'd know where you stand ? In my opinion I would take the latter, but it's probably too late now.