TWA mgmt - last good CEO?

You have no one to blame but Uncle Carl and his greed for TWA's demise and the destruction of livelihoods. AA (Carty) stupidly bought the whole defunct airline, instead of letting it continue into Chapter 7 liquidation and buying the routes it wanted. Its the main reason AA is $20 Billion in debt.

I disagree. AA assumed a couple billion of TWA debt and leases. The TWA purchase may be responsible for perhaps 10% of AMR's total obligations, but not the "main reason" for AA's total debt.

Yeah, we all know it didn't work out so well, given our crystal clear hindsight. The 20% drawdown and the furloughs of over 20,000 AMR personnel announced later in the week of September 11 assured that the TWA acquisition would not play out as planned. :(
 
You have no one to blame but Uncle Carl and his greed for TWA's demise and the destruction of livelihoods. AA (Carty) stupidly bought the whole defunct airline, instead of letting it continue into Chapter 7 liquidation and buying the routes it wanted. Its the main reason AA is $20 Billion in debt.

I still fail to understand how former TWA employees feel they are entitled to full seniority, when AMR Eagle employees do not receive it when they cross over to AA.

TWA's was run into the ground by Icahn and inept management, be upset with them, not AA or the unions. TWA was a bankrupt carrier going to liquidate, but AA stepped in and gave TWA employees a pay raise and jobs for a lot longer than anyone would have gotten at a TWA liquidation fire sale. Feel fortunate for once and stop crying about the intergration......its over and done with. We are way past sick of hearing about it over and over again. :(
<_< ----There's one fact your overlooking Hackmen! TWA was delibrately taken into bankrupcy by Compton, in coloberation with Carty/aa, to spacifically get rid of Uncle Carl and Karabu! And secondly get rid of the "Scope" clauses of our Unions! How long could we have gone on without aa and Carty? At this point we'll never know will we? But at the end Compton was spending money like water! We even were given $100 bonus for on time performance up to the time he took us into bankrupcy! Does a company on the brink do that? ;)
 
On the Tel Aviv Run TWA did get some 747-200B, which could fly from Israel to JFK nonstop, its very hot in Tel Aviv. The 747-100 had to stop in Shannon to refuel from Israel to JFK.
That is not exactly accurate. Both TWA's 747-100s and the 747-200s required a refueling stop at SNN en route from TLV to JFK in the mid to late 90s. Those flights departed at 0100 hours, a time when the summer midday heat was not a factor that prevented the non stop flights to JFK by the 200s (the refueling stop was year round). The reason for the refueling stop for the 200s was noise abatement. The take off flight pattern path from Ben Gurion Airport was right over some very heavily populated areas. At the maximum engine thrust required for the initial climb of the fully loaded with fuel for a non stop flight to New York, TWA's ancient 747-200s could not meet the Israeli noise restrictions.
 
In later years they flew JFK-TLV with 747-300s and encountered no range problem. I have a picture of 17306, a 747-300 on the ramp in TLV from many years ago. In about 1997 I attended a seminar in Nazareth pass riding both ways on a 747-300.
 
I disagree. AA assumed a couple billion of TWA debt and leases. The TWA purchase may be responsible for perhaps 10% of AMR's total obligations, but not the "main reason" for AA's total debt.

Yeah, we all know it didn't work out so well, given our crystal clear hindsight. The 20% drawdown and the furloughs of over 20,000 AMR personnel announced later in the week of September 11 assured that the TWA acquisition would not play out as planned. :(
<_< ----- I agree! Looking at it today, it didn't work out as planed! I truly wish it had! If it had, I do believe we all would have been better for it! But let's not forget the 80%+ drawdown of exTWAers!!! :shock: We all were hurt by 9/11! While 9/11 hurt us, it really wasn't the only reason for all the drawdowns!
 
<_< ---- Although we all know how Uncle Carl screwed us, let's not forget our good "Buddy" Smart and "Trans World Corp."! A lot of our aa friends probly didn't hear about that one! Years ago TWA owned "Hilton International Hotels", "Spartain Foods", "Century 21" Realestate, "Hardys Hambergers",and I know I'm forgeting someothers. But the idea was these Companies would carry us through when time got bad! Smart created a parent Company, (like AMR,) "Trans world Corp." To make a long story short, when times got bad for the Airline, the other Companies, that were paid for with Airline money, Spon TWA the Airline off! Legally Stealing those companies out from under us! Smart retained the post of both CEO of the Airline, and "Trans World Corp.!" :rant:
 
I know the Karabu deal was a steaming piece of sh*t for TWA. Where there any creative attempts by post Icahn management to get rid of it somehow, or was it pretty much latched on to TWA until a bankruptcy?
 
I know the Karabu deal was a steaming piece of sh*t for TWA. Where there any creative attempts by post Icahn management to get rid of it somehow, or was it pretty much latched on to TWA until a bankruptcy?

The Karabu contract was gonna stick around until:

A. Bankruptcy allowed TWA to finally end it; or

B. TWA handed Ichan a big enough pile of money to end it; or

C. Ichan used up the discounted ticket allotment - but that wasn't gonna happen very soon, since he had the ability to buy a lot of discounted tickets.

And since the whole point of Karabu was that Ichan basically got a big pile of money every time he wanted some (via the cheap TWA tickets he could re-sell), why would he voluntarily relinquish such a sweet deal??

And where would TWA get a big enough pile of money to pay him off if it had wanted to?
 
The Karabu contract was gonna stick around until:

A. Bankruptcy allowed TWA to finally end it; or

B. TWA handed Ichan a big enough pile of money to end it; or

C. Ichan used up the discounted ticket allotment - but that wasn't gonna happen very soon, since he had the ability to buy a lot of discounted tickets.

And since the whole point of Karabu was that Ichan basically got a big pile of money every time he wanted some (via the cheap TWA tickets he could re-sell), why would he voluntarily relinquish such a sweet deal??

And where would TWA get a big enough pile of money to pay him off if it had wanted to?

Was their talk of a pre-packaged bankruptcy to try to shake Karabu, but leave TWA it's own entity?
 
...the karabu contract was pretty ironclad. Icahn didn't become a billionaire by hiring cheap lawyers. There section TWA filed under was the only one that allowed for them to dissolve the karabu deal. While it was a bad contract, you could argue that it brought some revenue to TWA that otherwise might have gone elsewhere. There's a lot of ways to look at the deal. The deal did have an expiration, but it would have been well after TWA ran out of cash. The previously mentioned buyout clause was too expensive.

One thing that would have helped significantly was an earlier intro of RJ's to some of TWA's routes. Unfortunately they couldn't due to labor agreements. Tickets containing segments on partner airlines were not subject to the karabu arangement and thus were sold at full price.
 
No, the bankruptcy was AA's idea as Bill Compton, CEO of TWA, testified. Contrary to other spin, TWA was not about to go out of business. However, TWA surviving 9/11 is questionable.
 
<_< ----There's one fact your overlooking Hackmen! TWA was delibrately taken into bankrupcy by Compton, in coloberation with Carty/aa, to spacifically get rid of Uncle Carl and Karabu! And secondly get rid of the "Scope" clauses of our Unions! How long could we have gone on without aa and Carty? At this point we'll never know will we? But at the end Compton was spending money like water! We even were given $100 bonus for on time performance up to the time he took us into bankrupcy! Does a company on the brink do that? ;)
I refuse to argue about TWA any longer. Its been beaten to death here over and over, for years. What CEO was best, why TWA went bankrupt for the third time in less than a decade, how long TWA would have went before liquidation, why TWA unions didn't get full seniority....and on and on. The fact is that TWA did not turn a profit since 1988, and would have liquidated if AA wouldn't have bought TWA out. So really, the aforementioned points are moot.

Have a good one. ;)
 
I'll second the vote for Jack Frye as the last great TWA CEO. Howard was good at first but then, of course, he got real nutty real fast (after his near-fatal plane crash in the late '40s) and it hurt the airline for years afterward.

Don't forget, the TWA 'brain trust' let Crandall slip away to AA because he wasn't "polished" enough for the 'TWA image'.
 

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