Statement of Treasury Under Secretary Peter R. Fisher

[Oliver Stone''s Apprentice]

Statement of Treasury Under Secretary Peter R. Fisher On ATSB Announcement
on United Air Lines

December 4, 2002

I could not approve United's proposal for a federal loan guarantee because their submission failed to meet the requirements of the statute and the regulations that must guide our decisions.
This is not just about costs, it's about a business plan that is fundamentally flawed.

 

[Busdrvr]

[blockquote]
----------------
On 12/4/2002 8:06:04 PM eolesen wrote:

Statement of Treasury Under Secretary Peter R. Fisher On ATSB Announcement
on United Air Lines

December 4, 2002

"I could not approve United's proposal for a federal loan guarantee because their submission failed to meet the requirements of the statute and the regulations that must guide our decisions."

"This is not just about costs, it's about a business plan that is fundamentally flawed."


----------------
[/blockquote]

In your opinion would he have said the exact same thing about every other hub and spoke airline? I hate to say this, but this deal was a political assasination. I'm disgusted.

 

[Busdrvr]

[blockquote]
----------------
On 12/4/2002 8:06:04 PM eolesen wrote:

Statement of Treasury Under Secretary Peter R. Fisher On ATSB Announcement
on United Air Lines

December 4, 2002

"I could not approve United's proposal for a federal loan guarantee because their submission failed to meet the requirements of the statute and the regulations that must guide our decisions."

"This is not just about costs, it's about a business plan that is fundamentally flawed."


----------------
[/blockquote]

In your opinion would he have said the exact same thing about every other hub and spoke airline? I hate to say this, but this deal was a political assasination. I'm disgusted.

 

[Bob Owens]

I guess when Tilton said that he saw great potential in drilling in Alaska for passengers the ATSB said thats it. Another 7 million down the tubes.

 

[Bob Owens]

I guess when Tilton said that he saw great potential in drilling in Alaska for passengers the ATSB said thats it. Another 7 million down the tubes.

 

[atabuy]

I can't understand what went on in the talks between the atsb and Ual. For the board to come out with this statement, they surly would have had to tell Ual that they did not think we had a viable plan. If this was not said, it was truly an act of deception on the part of the board, or the company.
You would think this was not something that would take weeks to decide. The fact that the board waited so long, seems to show that this was purely political and it really sucks. Nixon was just the precursor to a bunch of crooks. DO you ever wonder why so many people in politics are lawyers?
I think it is to defend themselves when they get caught. I am so mad!!

 

[atabuy]

I can't understand what went on in the talks between the atsb and Ual. For the board to come out with this statement, they surly would have had to tell Ual that they did not think we had a viable plan. If this was not said, it was truly an act of deception on the part of the board, or the company.
You would think this was not something that would take weeks to decide. The fact that the board waited so long, seems to show that this was purely political and it really sucks. Nixon was just the precursor to a bunch of crooks. DO you ever wonder why so many people in politics are lawyers?
I think it is to defend themselves when they get caught. I am so mad!!

 

[Rhino]

atabuy, why do you think UAL mgmt was summoned to DC for talks with the ATSB last week?

Fact of the matter is that UAL mgmt was not able to work with labor and come up with the radical surgery required to heal the patient.

As an example, pilot concessions put pay on a par with AA and included snapbacks that were not tied to profitability.

Creighton did nothing after Goodwin was fired. Labor wasn't interested. Meanwhile, UAL went from a relatively strong balance sheeet to its present state.

 

[Rhino]

atabuy, why do you think UAL mgmt was summoned to DC for talks with the ATSB last week?

Fact of the matter is that UAL mgmt was not able to work with labor and come up with the radical surgery required to heal the patient.

As an example, pilot concessions put pay on a par with AA and included snapbacks that were not tied to profitability.

Creighton did nothing after Goodwin was fired. Labor wasn't interested. Meanwhile, UAL went from a relatively strong balance sheeet to its present state.