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OCT/NOV 2012 US Pilots Labor Discussion

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Once again, HP did not buy US, US raised the cash for the merger, not HP.

Dont let the facts get in your way!
 
Walmartgreeter said:
What is "email-gate." Can you please expand? (I only go back a day or so when I log on, so I may have missed the discussion here.)Greeter
Click to expand...

An email was produced with an actual edict of removing two pilots and somehow a digital recording of the email was acquired.
 
700UW said:
Once again, HP did not buy US, US raised the cash for the merger, not HP.

Dont let the facts get in your way!
Click to expand...

If US raised the cash then how did AWA get into the picture? If US raised the cash on their own then why did a CEO from another airline show up?
 
HPearlyretiree said:
The entitlement east hates, just hates to hear that AWA bought them. And they really hate that they have managed record profits since then...even with the union slugs that gum up the works in PHL. Every time they underestimate Parker, they lose more and more.
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I don't feel entitled so I guess you weren't talking about me, but I am east so I will respond.

I don't hate to hear that AWA bought us. There is a lot of back and forth about how the transaction was structured, but in the end Parker put his company on the line to merge with US Airways and he ended up at the head with the headquarters in Tempe, even if the "bought" was only in a "no-money-down, pick up now and pay later or sub-prime" sense.

What I do hate is this "WE(as if they actually had anything to do with the transaction) saved you!" Attitude. The merger save both companies from a worse fate. That is clear to anyone that is paying attention and wants to see it. The west is just mad because the Nicolau award would have provided a softer landing for some west because of it's massive windfall.

I believe it was yesterday that cleardirect said the US was and still is a boat anchor to the west. That is one of the most idiotic statements I've ever heard. Do you agree with him?

Here is a statement from 2006:


"On a standalone basis, America West reported a net profit of $68 million for the second quarter 2006 as compared to a net loss of $2 million for the same period last year. US Airways reported a net profit of $246 million on a standalone basis for the second quarter 2006 as compared to a net loss of $44 million for the same period last year.
US Airways Group Chairman, President and CEO Doug Parker stated, "We are extremely pleased to report a second quarter profit of this magnitude. This quarterly profit excluding special items is a record for US Airways Group, Inc. and is amongst the highest of its predecessor companies. While other airlines are reporting second quarter profits, no other airline has experienced an improvement as dramatic as US Airways as evidenced by our second quarter 2006 profit margin, which is the highest among the major hub-and-spoke airlines and a remarkable reversal from recent years. The primary driver of this turnaround is the merger of US Airways and America West, which has improved the earnings power and viability of both companies versus their standalone capabilities."
 
prechilill said:
If US raised the cash then how did AWA get into the picture? If US raised the cash on their own then why did a CEO from another airline show up?
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Learn to comprehend.


Retired Lehman Bros. executive Bruce Lakefield, a friend of US Airways chairman David Bronner, replaced Siegel and sought to save US Airways. He asked unions to help with another round of concessions. When that failed, Lakefield took the company into bankruptcy again and squeezed another $1 billion in concessions from the unions, using the power of the U.S. Bankruptcy Court to hammer home new contracts modeled after America West's labor agreements.

In January, with fuel prices at a record high and doubts aired about US Airways' survival after its Christmas baggage meltdown in Philadelphia, Lakefield picked up the phone and called Parker, suggesting that "maybe we should begin those talks again," according to Parker.

But America West did not have enough cash to lift US Airways out of bankruptcy. It was up to Luth, the US Airways adviser, to find enough investment money to piece the deal together and give the combined company a fighting chance to thrive in the battered airline industry.

Luth and US Airways had serious discussions with more than a dozen investors. They all requested shared participation in a merged airline -- no one wanted to take on all the risk. The Retirement Systems of Alabama, which rescued US Airways from its first bankruptcy in 2003 with a $240 million investment, stands to lose it all if US Airways emerges from bankruptcy and issues new stock.

Luth went after the companies that had something to gain from an investment in US Airways and America West. Aircraft maker Airbus agreed to provide $250 million in exchange for US Airways' pledge to buy dozens of A320 jets in the future. Regional commuter carrier Air Wisconsin Airlines made a $125 million investment in exchange for a jet services partnership. The Appleton, Wis.-based airline will fly for the merged carrier on a contract basis.

Credit card companies may provide $300 million in order to reach new customers. And once-bankrupt Air Canada offered $75 million, good for a 7 percent stake in the new company, in exchange for the rights to bid on the maintenance contract for the new carrier's fleet of 361 jets.
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Lakefield was a care-taker CEO after US fired Siegel, Lakefield was a retired Shearson Lehman Executive who had no desire to be a long-term CEO.
 
Pi brat said:
Good morning cleardirect. Are you ready to respond?
Click to expand...
Here is the problem. You guys just don't listen. I answered your question already. I told you to go do your own research and read the west contract you may learn something. I am getting tired of educating all of you. Did no one ever tell you knowledge worked for is better than knowledge given.

Since you refuse to do the work I will give you a hint. Section 28 and app. D. The word search function makes it easy.
 
700UW said:
Once again, HP did not buy US, US raised the cash for the merger, not HP.

Dont let the facts get in your way!
Click to expand...
Not according to the investment banker usapa interviewed last week. The banker that worked with US Airways told the BPR the US Airways had no access to capital, no ability to raise anymore money.
 
cleardirect said:
Here is the problem. You guys just don't listen. I answered your question already. I told you to go do your own research and read the west contract you may learn something. I am getting tired of educating all of you. Did no one ever tell you knowledge worked for is better than knowledge given.

Since you refuse to do the work I will give you a hint. Section 28 and app. D. The word search function makes it easy.
Click to expand...

YOU....educating me? Oh man, that was funny. I got to tell you, you're not too smart but you are funny.

It's such a simple question, why not just answer it. I did look it up, so let's see if our answers match, okay?

You said: "No Lakefield did not just have not enough money he had NO money line up. There was no money to line up. Understand that point."

And I showed you.



February 28, 2005

A federal bankruptcy court on Monday approved plans by Air Wisconsin to invest USD$125 million in US Airways Group, US Airways said on Monday.
The stake by Air Wisconsin's financing arm is structured as a debtor-in-possession (DIP) loan. It represents half of what US Airways is seeking in cash to exit bankruptcy by June 30.

"You said:" The ninth circuit told you no DOH." They did not. I gave you an opportunity to prove me wrong, but....
 
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