Us Airways Miscalculated Financial Needs

[700UW]

US Airways Miscalculated Financial Needs
Mistake Contributed to Cash Crisis

By Keith L. Alexander
Washington Post Staff Writer
Tuesday, September 14, 2004; Page E01

US Airways Group Inc. executives underestimated by about $1.3 billion the airline's needed revenue for healthy operations, a miscalculation made during its first Chapter 11 reorganization that helped pitch the carrier into bankruptcy protection a second time, an attorney for the Arlington-based airline told a bankruptcy court judge yesterday.

See Story

Gotta love it, they made a $1.3 billion mistake and they are still running the company.

We are doomed.

 

[robbedagain]

it sure doesnt surprise me that this outfit made that mistake just as they have made a lot of other mistakes! it all comes down to what i call the inept clowns who cant run usair!

 

[USFlyer]

Not quite, Siegel and Cohen were effectively fired. The ones to make the big mistakes are gone.

 

[EyeInTheSky]

The deadbeat goes on. What do we need to get Donald Trump in here to say: "You're fired!"?

 

[OldGuyinPA]

Don't believe it.

CCY aka "The Palace" is still filled with chumps with only high school educations......and I know their last name ain't Gates.......

It's only a matter of time.....MonsterJobs.com

 

[vc10]

No, they're not. Siegel and Cohen are long gone. Lakefield inherited this mess---don't blame him for it.

US Airways Miscalculated Financial Needs
Mistake Contributed to Cash Crisis

By Keith L. Alexander
Washington Post Staff Writer
Tuesday, September 14, 2004; Page E01

US Airways Group Inc. executives underestimated by about $1.3 billion the airline's needed revenue for healthy operations, a miscalculation made during its first Chapter 11 reorganization that helped pitch the carrier into bankruptcy protection a second time, an attorney for the Arlington-based airline told a bankruptcy court judge yesterday.

See Story

Gotta love it, they made a $1.3 billion mistake and they are still running the company.

We are doomed.

[post="179914"][/post]​

 

[wings396]

Not quite, Siegel and Cohen were effectively fired. The ones to make the big mistakes are gone.

[post="180003"][/post]​

Gone with several Million Bucks for making mistakes...what a Country we live in..
The ones who Screw up get canned with an Out the Door Bonus, and the rest who are left will continue to pay for it. The BK Judge should get that money back along with the nice package W&G got days prior to the first BK filing. If our contracts can be opened up and broken, so can theirs!!!

 

[700UW]

Siegel and Cohen are the only two gone, the rest of them who were part of the flawed business plan are still here.

 

[oldbscaler]

You gotta wonder what Wolf is doing this evening?

 

[700UW]

Sipping wine on the French Riveria.

 

[SpinDoc]

it sure doesnt surprise me that this outfit made that mistake just as they have made a lot of other mistakes! it all comes down to what i call the inept clowns who cant run usair!

[post="179986"][/post]​

Yo, Einstein. Read the supplemental filing that is available
on www.transformingusairways.com. It clearly shows that
not only did US underestimate the revenue equation and
LCC proliferation, but so did the ATSB, GE Capital, and
several other major creditors. Heck, most of them did their
own analysis and came up short. Before you blame only
US management, you might want to read this enlightening
report.