Stock Aint Cancelled Yet !

[LGA / 037]

With all that stock issued to our LABOR (LABOUR for YYZ,YOW &YUL) employees be cancelled?

I know RSA is a SECURED creditor , but still stands to lose if its cancelled ............

 

[ClueByFour]

Probably. The ATSB and any creditors who stay on board are going to want fresh equity (and rid of Bronner).

 

[Rob]

Bronner has strong incentive (what's left of RSA's $240 million) to preserve the current common if possible and I think he'll try.

If you want to take a flyer, wait for another bad news day and don't pay more than 50 cents/share.

 

[Phoenix]

With all that stock issued to our LABOR (LABOUR for YYZ,YOW &YUL) employees be cancelled?

I know RSA is a SECURED creditor , but still stands to lose if its cancelled ............

[post="186104"][/post]​

They took the pensions. They took the vacation. They took the medical. They took the work rules. They took the pay (real money) in exchange for stock (play money) and then took the play money in the last bankruptcy.

I would like to give you good news about how trustworthy and philanthropic the decision makers are. But perhaps you have noticed a trend in their actions that would render me mistaken and optimistic in the face of obvious villany and disdain. Yeah, but Austin Powers looked cute while he worked his magic.

It could be worse. We could have been United where the employees owned the company. It could be better. We could have been hired at SouthWest.

 

[700UW]

Stock is not a secured creditor, if the stock is cancelled RSA will lose its $240 million investment. The portion of the loan they provided which was not gauranted is secured.

 

[scot]

Report of Oct 1, 2004

Elsewhere, shares of US Airways Group (UAIRQ) closed at their highest price since the nation's seventh-largest airline filed for bankruptcy Sept. 12.

On Friday, US Airways and its pilots reached a tentative $300 million cost savings pact. The stock gained 33 cents to close at $1.14. See full story.

Mesa Air Group (MESA) said Friday its senior management will take a 23 percent pay cut to support US Airways' restructuring efforts. Mesa operates as US Airways Express in the Midwest and East.

In addition, Mesa plans to ask its US Airways Express employees to voluntarily defer up to 23 percent of their salaries.

Shares of Mesa added 15 cents to $5.25.

 

[Pylit]

I'm sure the Mesa employees will voluntarily give up 23 percent.

HA HA HA HA HA......Ahh....the humor.....