Soft Revenue Has US Air Needing More Cuts

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chipmunn

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[P][A href=http://biz.yahoo.com/rb/021025/airlines_usairways_costcuts_4.html][FONT face=Times New Roman size=3]http://biz.yahoo.com/rb/021025/airlines_usairways_costcuts_4.html[/FONT][/A][/P]
[P][FONT face=Times New Roman size=3]Hummmm...how can this be? Furthermore, it couldn''t upset the DIP financing, EPS emergence investment, and the loan guarantee, could it?[/FONT][/P]
[P][FONT face=Times New Roman size=3]Chip[/FONT][/P]
 
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chipmunn

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[BR][FONT face=Times New Roman size=3]Black Wind:[/FONT][BR][BR][FONT face=Times New Roman size=3]I'm over it, but are you with a potential liquidation of UA being discussed by the heavy hitters in Washington and New York? Why do you think four very bright and talented airline senior executives refused to be interviewed for the UA CEO position?[/FONT][BR][BR][FONT face=Times New Roman size=3]Chip[/FONT]
 

Black Wind

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Sep 21, 2002
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[P]
[BLOCKQUOTE][BR]----------------[BR]On 10/25/2002 5:14:29 PM chipmunn wrote:
[P][BR][A href='http://www.usaviation.com/idealbb/http://biz.yahoo.com/rb/021025/airlines_usairways_costcuts_4.html'][FONT face='Times' size=3 Roman" New]http://biz.yahoo.com/rb/021025/airlines_usairways_costcuts_4.html[/FONT][/A][BR][BR][FONT face='Times' size=3 Roman" New]Hummmm...how can this be? Furthermore, it couldn't upset the DIP financing, EPS emergence investment, and the loan guarantee, could it?[/FONT][BR][BR][FONT face='Times' size=3 Roman" New]Chip[/FONT][/P]----------------[/BLOCKQUOTE]
[P][/P][STRONG]get over it youll live[/STRONG]
 
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chipmunn

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Black Wind:

Black Wind said: big mouth bufooon couldnt give up the spotlight at co and b man is making plenty on the outside, why come here.

Chip answers: I suspect it was because no experienced airline executive wanted to preside over the company when most analysts are predicting a likely UA bankruptcy and potential liquidation.

Well it's off to High School football with my family. See you later...

Chip
 

Black Wind

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Sep 21, 2002
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[blockquote]
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On 10/25/2002 6:15:07 PM chipmunn wrote:

[FONT face="Times New Roman" size=3]Black Wind:[/FONT]

[FONT face="Times New Roman" size=3]I'm over it, but are you with a potential liquidation of UA being discussed by the "heavy hitters" in Washington and New York? Why do you think four very bright and talented airline senior executives refused to be interviewed for the UA CEO position?[/FONT]

[FONT face="Times New Roman" size=3]Chip[/FONT]
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[/blockquote]


[/b] big mouth bufooon couldnt give up the spotlight at co and b man is making plenty on the outside, why come here>[/b]

why didnt you???
 

Cosmo

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Aug 20, 2002
840
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[blockquote]
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On 10/25/2002 6:15:07 PM chipmunn wrote:

I'm over it, but are you with a potential liquidation of UA being discussed by the "heavy hitters" in Washington and New York?
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[/blockquote]
Chip:

Here are a few questions for you regarding your unsupported statement shown above --

1.) What is your source?

2.) Who are the heavy hitters?

3.) Why aren't you more worried about your own company (US) which is much closer to a potential liquidation than UA is at the moment?

If your statement above is simply your opinion, that's fine but you should qualify it as such rather than try to give the impression that it is a fact without ANY supporting evidence.
 
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chipmunn

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[BR][FONT face=Times New Roman size=3]Hi Cosmo:[/FONT][BR][BR][FONT face=Times New Roman size=3]Cosmo said: If your statement above is simply your opinion, that's fine but you should qualify it as such rather than try to give the impression that it is a fact without ANY supporting evidence.[/FONT][BR][BR][FONT face=Times New Roman size=3]Chip answers: Cosmo, it's not my opinion and unfortunately I cannot betray the trust and confidence of others, but the information is fact. By the way, did you see yesterday's IAM announcement regarding ERP discussions? [/FONT][BR][BR][FONT face=Times New Roman size=3]Chip [/FONT]
 

AOG-N-IT

Veteran
Aug 19, 2002
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According to the Friday October 25th edition of Dave's 1-800-***-**** Fire Side chats....They are more than aware of the problems we are facing...but he says they are Absolutely ready to face things in a manner to position USAirways for long term survival. Dave is very careful to point out, that this industry has Fallen Off a Cliff in terms of making profits. However they are in a continued process to reduce our expenses.....mainly by dealing with Lessors and Creditors IMHO...USAirways has as good of a chance of pulling out of this tail spin...as anyone we compete with in regards to being a full-service carrier. We may not be what we once were in regard to size...but if the past is an indication? This is truly a case of Size Doesn't Matter (LOL)
 
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chipmunn

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[BR][FONT face=Times New Roman size=3]AOG-N-IT:[/FONT][BR][BR][FONT face=Times New Roman size=3]Much of your last post I agree with, but one thing that is certain, the company has told the Securities and Exchange Commission it needs to tighten its belt more if it expects to regain profitability, win a federal loan guarantee and receive further debtor-in-possession funding.[/FONT][BR][BR][FONT face=Times New Roman size=3]I'm all for vendors, creditors, and lessors taking an additional haircut and I do not want to see one more employee get hurt, but the creditors have the ability to drive the company into a Chapter 7 liquidation.[/FONT][BR][BR][FONT face=Times New Roman size=3]When the employee concession debate started it was over pension and work rules changes and I said I would like to see the company and labor work together to create a win-win solution. I still feel that way, but this attack by your fellow IAM colleagues on pilot wages is inappropriate and is not being a trade unionist like Lakeguy67 suggests about me.[/FONT][BR][BR][FONT face=Times New Roman size=3]If we can obtain savings through cost cutting employee generated suggestions or other than employee stakeholder benefits I am all for that first, but if not we should look for other avenues to cut costs to help the company through this short-term liquidity crisis. I'm glad Dave addressed this issue yesterday in his weekly update and the company is reevaluating thier plan due to what Dave called revenue falling off of the cliff. If not, we could end up being liquidated, which is now being discussed in important circles.[/FONT][BR][BR][FONT face=Times New Roman size=3]By the way, I have a lot of confidence in Dave Siegel as well.[/FONT][BR][BR][FONT face=Times New Roman size=3]Chip [/FONT][BR][BR][BR][BR]
 
Aug 19, 2002
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[P]
[BLOCKQUOTE]
[P][BR]----------------[BR][BR][BR][FONT face='Times' size=3 New Roman"]I'm all for vendors, creditors, and lessors taking an additional haircut and I do not want to see one more employee get hurt, but the creditors have the ability to drive the company into a Chapter 7 liquidation.[/FONT][/P]
[P][FONT size=3][/FONT][BR][FONT face='Times' size=3 New Roman"]Chip[/FONT][/P]
[P]----------------[/P]
[P]Chip, isn't there a very real possiblity that the lessors in particular may not be willing to take an 'additional' hair cut at this point?[/P]
[P]I hope that things dont come to that point, but I had read an article that quoted an attorney for one of the leasing companies as saying We'll take the ball and go home.[/P]
[P] I don't think there is much of a market for high time 737's and first run 757's, but they could well take an aircraft back, scrap it and write off the loss come tax time.[/P]
[P]In this uncertain environment I hope for the sake of all involved that an agreement can be reached.[/P][/BLOCKQUOTE]
 

Bob Owens

Veteran
Sep 9, 2002
14,274
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Could the revenue be falling off the cliff because USAIR is seeing more competition from AA and Delta?
AA has moved into the lucrative Notheast corridor with Eagle RJs. How will USAIR be able to compete? For business travellers it makes sense to use an AA or Delta feeder than U for business because they get to accumulate miles that can take them practically anywhere in the world with a carrier that is not under bankruptcy protection. As the big guys move into USAIRs biggest moneymakers how can U fight back?