Us Airways' Ceo Ouster Clears Way For Labor Talks

[USA320Pilot]

US Airways' CEO Ouster Clears Way For Labor Talks

Siegel chose to get out of bankruptcy as soon as possible in a failed attempt to merge with UAL Corp.

NEW YORK (Dow Jones) - The resignation of US Airways Group Inc. Chief Executive David Siegel clears the way for airline management to begin talking to unions about cutting costs.

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Regards,

USA320Pilot

 

[delldude]

nice article but i wouldn't bet my life on it.
ah yes...its robert roach and...my my...hes got his wallet open...duh...

 

[USA320Pilot]

Dow Jones Newswires reported today "Siegel chose to get out of bankruptcy as soon as possible in a failed attempt to merge with UAL Corp."

Respectfully,

USA320Pilot

 

[ClueByFour]

Dow Jones Newswires reported today "Siegel chose to get out of bankruptcy as soon as possible in a failed attempt to merge with UAL Corp."

Now for the fair and balanced version of that paragraph (eg, some additional context--the bolding here is mine, to demonstrate how big of a difference context can have on one's spin):

Employees and airline experts say Siegel had his chance to cut costs and set a new strategy when the airline restructured under bankruptcy protection. But instead of getting his strategy right, Siegel chose to get out of bankruptcy as soon as possible in a failed attempt to merge with UAL Corp. (UALAQ, news), according to one industry source. Such a merger appears dead at this point, with UAL now doing its own restructuring in bankruptcy, the source said.

One source. Most good reporters won't even use an unnamed source without corroberation.

I thought the entire context might prove to be interesting to some, and detrimental to the spin of others. YMMV, of course.

 

[savyinvestor]

Thanks for the clarification. I'm sure in was just overlooked by USA320. NOT! Savy

 

[ITRADE]

One source. Most good reporters won't even use an unnamed source without corroberation.

You must not work for the Washington Post or any other major newspaper.

From Monday, April 19's conversation with Post writer Howard Kurtz:

Howard Kurtz: First of all, The Post makes zero on the book. The money goes to Woodward and his publisher. Second, lots of Post news stories rely on unnamed sources.

And the article never states that the comment was uncorroborated. Your assumption.

So if you don't think that a Pulitzer prize winning reporter like Bob Woodward isn't a good reporter, I would like to ask about your Pulitzer credentials...

 

[BoeingBoy]

ITRADE,

You are right of course - unnamed sources are used all the time, and I would suspect that many of those reports go uncorrobated.

However, look at what this cited source said and you'll see it makes absolutely no sense.

"Siegel chose to get out of bankruptcy as soon as possible in a failed attempt to merge with UAL Corp. (UALAQ, news), according to one industry source. Such a merger appears dead at this point, with UAL now doing its own restructuring in bankruptcy, the source said."

Are we to believe that Siegel hurried out of bankruptcy to pursue a merger with UAL, which failed because UAL entered bankruptcy, when the fact is that UAL entered bankruptcy months before we emerged?

Of course, there is one "aviation source" that I know of who is located in PIT and has in the past repeatedly talked about some sort of corporate transaction with UAL. Now if I could just remember the name....

Jim

 

[Phoenix]

Blah blah blah...

New boss, same as the old boss.

Concession stand closed.

 

[mweiss]

Concession stand closed.

Mind too, apparently.

 

[700UW]

When the company stops violating our current concessionary contracts maybe people will be more willing to listen.

You can't trust this management and they have proven that, mwiess you are not living it like we are!

 

[EyeInTheSky]

There are several hundred outstanding grievances filed against the company. It's a cluster DELETED BY MODERATOR beyond epic proportions. Lots of work to do.

 

[Phoenix]

Mind too, apparently.

Cute.

Ad Hominem.

 

[iflyjetz]

Are we to believe that Siegel hurried out of bankruptcy to pursue a merger with UAL, which failed because UAL entered bankruptcy, when the fact is that UAL entered bankruptcy months before we emerged?

Of course, there is one "aviation source" that I know of who is located in PIT and has in the past repeatedly talked about some sort of corporate transaction with UAL. Now if I could just remember the name....

Jim

Jim,
I was thinking the EXACT same thing when I read that; Siegel rushed out of BK
to try to merge with a company that had just entered BK? I suppose it might make sense if UAIR was to buy pieces of UAL as they (we) went chap 7, which was a very realistic possibility in early '03. UAIR would have needed additional capital injections for that strategy though ... perhaps from RSA.
However, this glosses over the fact that UAIR was forced to emerge from BK due to its pre-chap 11 agreement with credit card companies expiring. If UAIR stayed in BK any longer, they would not be able to accept credit card purchases. The company would have had to close doors very quickly after that date due to their cash flow drying up.

Hopefully since your new CEO is a Wall Street insider, he can get the necessary capital infusion to turn around UAIR. All the best to everyone at UAIR.

 

[mweiss]

Cute.

Ad Hominem.

Actually not meant to be ad hominem. I intended it to point out that it doesn't matter who's at the top, or what the business plan is, if the choice is between giving a dime more or shutting down the company and giving 100% of it, your choice is shut the company down.

In which case changing the man at the top was a waste of both time and $4M.

 

[cavalier]

Actually not meant to be ad hominem. I intended it to point out that it doesn't matter who's at the top, or what the business plan is, if the choice is between giving a dime more or shutting down the company and giving 100% of it, your choice is shut the company down.

In which case changing the man at the top was a waste of both time and $4M.

You just don't get it, truly don't. I understand him completely and agree completely. Everything is not in black and white as you see it in your world of business which is a form of religion justifying acts that go against what's right, what's moral. Of course it would need to go against those things because after all this is the world we live in where that is the norm.

Yes I know...I am not making sense and that is to be expected to someone who sees but doesn't see.