United Asks for Summer in Chapter 11
Sounds like their business plan is to simply stay in Chapter 11 forever.
Sounds like their business plan is to simply stay in Chapter 11 forever.
United May Not Emerge From Chapter 11 Till Fall
- Thread starter JetClipper
- Start date
No, an intergral part of the business plan is to get the ATSB loan. Nothing new here, until the loan is either granted or denied, UAL will not complete restructuring. This government induced delay is meant to give adequate time to scramble together a plan B while still enjoying the benefits of the exclusivity period in the event of the "worst case scenario" of ATSB rejection. Just about every other aspect under UA's control has been addressed and resolved.
- Thread Starter
- #3
Busdrvr:
You're right. If I were in United's shoes I'd try to stay under the protective umbrella of Chapter 11 as long as possible, too. I just can't help but wonder if there shouldn't be some sort of limit on how long companies in any industry can in bankruptcy.
You're right. If I were in United's shoes I'd try to stay under the protective umbrella of Chapter 11 as long as possible, too. I just can't help but wonder if there shouldn't be some sort of limit on how long companies in any industry can in bankruptcy.
Each case is differant, and that's why they pay that guy in the black dress. It's not necessarily the glory of the "protection of BK", after all if it was all wine and donut's averybody would be doing it. As a matter of fact, the longer you stay in, the higher your risk go. The ATSB is the one and only reason for any further delays on UAL's exit
I just can't help but wonder if there shouldn't be some sort of limit on how long the ATSB can delay making/announcing a decision.JetClipper said:
Not too surprising. DIP financing is in place until December 31 2004. The only question is the exlusivity period. I think the judge will consider this on a month-by-month basis.
Absent the ATSB loan - United could turn to Greenbriar or TPG. If they qo the equity route - I assume they'd ask for further cost cuts.
Stay tuned...
Absent the ATSB loan - United could turn to Greenbriar or TPG. If they qo the equity route - I assume they'd ask for further cost cuts.
Stay tuned...
No...not publicly. But I'm sure they do internally. I'm not saying they're out there talking to people...but they have to have a contingency plan.
Then they act all stupid for a week, have a bunch of "brain-stormin'" meetings, then someone comes up with a brilliant plan. Wow, what a smart guy, let's give him a bonus. That's how they do it. 
So, if the loan guarantee is refused, and Plan B goes into effect, then that proves that they didn't need the loan guarantee in the first place, doesn't it? The circular reasoning is getting to me. :blink:UnitedChicago said:
Obviously no one is going to come out and say they have another plan. Obviously they must have talked about it. Obviously!
hp_fa
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- Feb 19, 2004
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OK, I am ready for folks to call me naive.
What ever happened to ethics and integrity. What ever happened to telling the truth. How many of these people go to church, temple or elsewhere and confess their sins just to have them continuing in an ongoing basis? The ends justify the means. Etc., etc., etc.
I know the other end of the discussion...the real sin is letting a company go down the tubes without doing everything you can to save it. Let the judge and jury decide later, but do what ya need to do now and maybe the day of reckoning won't come.
Oh boy, does this say a lot about our family values, etc.
What ever happened to ethics and integrity. What ever happened to telling the truth. How many of these people go to church, temple or elsewhere and confess their sins just to have them continuing in an ongoing basis? The ends justify the means. Etc., etc., etc.
I know the other end of the discussion...the real sin is letting a company go down the tubes without doing everything you can to save it. Let the judge and jury decide later, but do what ya need to do now and maybe the day of reckoning won't come.
Oh boy, does this say a lot about our family values, etc.
"What ever happened to ethics and integrity? What ever happened to telling the truth? How many of these people go to church, temple or elsewhere and confess their sins just to have them continuing in an ongoing basis? The ends justify the means. Etc., etc., etc?"
You're confusing working class, family values with good ol' American Corporate Values.
That's why we're getting robbed(and will be fined for jaywalking), and the thieves running our companies(and our country) will get a TAX INCENTIVE to CONTINUE doing it!
REGIME CHANGE IN '04!
You're confusing working class, family values with good ol' American Corporate Values.
That's why we're getting robbed(and will be fined for jaywalking), and the thieves running our companies(and our country) will get a TAX INCENTIVE to CONTINUE doing it!
REGIME CHANGE IN '04!
I hope they take as much time as they need and emerge much stronger. Best of luck to United Airlines and its partner US Airways.
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