Bill Swelbars's Swelbog column from yesterday raises serious questions about the sustainability of Parkers merger plan.
http://www.swelblog....five-weeks.html
I gave much thought to this also - that's not to say I'm an expert, however.
There was a time (in a galaxy far, far away) that Arpey, Horton, and Dougie Parker all worked at AMR under the watchful eye of Uncle Bob. They were known as the "Three Amigos" as they were, by all accounts, inseparable.
Arpey, whose daddy was a highly placed executive at United was eventually made American's prez and ceo when Carty was ordered by the BOD to fall on his sword to appease the unwashed masses, later to be cashiered himself by the AMR BOD.
Dougie accepted a gig in charge at US Air and Horton got to go to AT&T to preside over their bankruptcy proceedings as CFO.
Their "friendship" is what I have issues with. Remember that Dougie's offers to AA's unions aren't binding and I believe we should seriously question and take with a truckload of salt (not just a grain) any so-called deal to "help out" AA's beleaguered and downtrodden masses.
My questions have more to do with the standard "screw over and lie to your employee" tactics of the industry than sustainability.
added 1253 17may2012
Probably even a greater probability is another C11 filing within two years by US Air to rid themselves of the pension onus should the "wedding" come about. It seems the PBGC threatened to snatch some unaccounted-for assets of AMR's if they continued the demand to terminate pensions - something about a foreign company's stock listing disappearing and other cloak and dagger stuff. This revelation came about, I believe, after Brundage's taking the 5th re: a question about undisclosed assets of the corporation tweeted from the courtroom and his subsequent "stepping down". I'm pretty sure there is a federal law against bankruptcy fraud and withholding facts from an investigation into such.
Any consensual contract will have to include, as a term of acceptance, Sepuku on the steps of Centrepork by the top 1000 executives.
"Vewwy Eenteresting" (insert Arte Johnson voiceover here).
