I think we can expect very bad news next week on exactly how much money the company is losing per day. My guess around 10 million per day. And bankruptcy by summer. Just a guess
When will AA Declare Bankruptcy?
- Thread starter MiAAmi
- Start date
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On 1/18/2003 10:07:11 AM WingNaPrayer wrote:
AA in BK by June.....August at the latest
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Based on what info?
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On 1/18/2003 10:07:11 AM WingNaPrayer wrote:
AA in BK by June.....August at the latest
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[/blockquote]
Based on what info?
1AA
Veteran
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On 1/18/2003 10:59:29 AM Hopeful wrote:
For AA, within two weeks, after the unions say no deal!
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A friend sent me this and it is hard to disagree with him.
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How can American (Carty) be serious and honest about cutting costs when he is pushing S-1327 which will take away any fair bargaining procedure in labor contract negotiations? If American is serious then why not open or eliminate the contracts with the arena in Miami, Dallas and the theatre in New York? How many millions of dollars are being pumped into these non airline ventures? Why not concentrate on airline issues and start treating its most important asset (US) with respect instead of crying that all of a sudden we make too much money? I wonder how much money is being spent in Washington pushing Senators Mc Cain's resolution. This all in total must be in the millions. Who knows how many other areas that American is spending money on that is not directly related to the core airline business. I am tired of hearing this cry for help. I know we are in a tough financial situation, but look at the whole picture, not just a small part of it.
My opinion of course, but others have voiced the same concerns.
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On 1/18/2003 10:59:29 AM Hopeful wrote:
For AA, within two weeks, after the unions say no deal!
----------------
A friend sent me this and it is hard to disagree with him.
[/blockquote]
How can American (Carty) be serious and honest about cutting costs when he is pushing S-1327 which will take away any fair bargaining procedure in labor contract negotiations? If American is serious then why not open or eliminate the contracts with the arena in Miami, Dallas and the theatre in New York? How many millions of dollars are being pumped into these non airline ventures? Why not concentrate on airline issues and start treating its most important asset (US) with respect instead of crying that all of a sudden we make too much money? I wonder how much money is being spent in Washington pushing Senators Mc Cain's resolution. This all in total must be in the millions. Who knows how many other areas that American is spending money on that is not directly related to the core airline business. I am tired of hearing this cry for help. I know we are in a tough financial situation, but look at the whole picture, not just a small part of it.
My opinion of course, but others have voiced the same concerns.
1AA
Veteran
The answer to this question is rather simple. If their is cooperation between management and the unions, then BK will probably not happen. If Chapter 11 happens, then we all lose.
AA will be Bankrupt once Bob Owens organizes and issues a strike against his employer.[BR][BR]He fears S-1327 so much, this will happen soon.
The Q4 loss will be large. Q3 was 475. Cash burn rate will be much lower than 10 million a day. More like half of that.
DB Cooper
Member
The folks over at UA are just beginning to feel the sting of BK. It is imperative to pressure union leaders to VOLUNTARILY negotiate the sacrifices necessary to avoid BK. The pain will be significantly less than sacrifices IMPOSED by the court/creditors. The UA mechanics (IAM) rejected a modest 7% pay cut proposal from UA management prior to BK. On January 10, the BK judge sided with UA management and ORDERED an 14% immediate pay cut for the mechanics. UA management has filed a Sec. 1113 motion to abrogate all labor agreements if the unions fail to ratify restructured labor contracts calling for further reductions in health benefits, elimination of work rules and job protection language and reduced pension benefits.
1AA,
How is it hard to disagree with your friend's note? It's about the dumbest thing I've read. Focus on the core airline? UHM, yeah...is Cartny not the CEO who sold the non-core assets (SABRE, AMR COMBS, etc.)??? What is the Arena in Miami? Well, we call it advertising. Everytime a game is played there, announcers on tv say "Welcome to the American Airlines Arena". When you read the sports section in the newspaper you read, "Last night at the American Airlines Arena...". Check out the shows on Broadway, "Now showing at the American Airlines Theatre...". Anheuser Busch did a study some years back. They stopped advertising in St. Louis. St. Louis, the company's home for years. Everybody knows AB in St. Louis. Chances are a St. Louis resident knows someone who works there. Finding a bar that serves Coors is a big deal. Guess what happened to grocery store sales in St. Louis when they stopped advertising in their backyard? Coors and Miller did better. Is that what you want for AA? Is that a good idea? No. American continues to have a need to advertise. Why do line employees think that a company's sole obligation is to give every cent earned to line employees? It proves you have no clue how to run a business, so let the people who do, do so. Now, before you go off and so it's obvious that Carty doesn't know how to run a business given current results...tell me what you would do. It damn well better include employee cutback, because that is a large problem for AA right now. To think otherwise is to ignore reality. While ignorance may be bliss, the result of such is disaster!
How is it hard to disagree with your friend's note? It's about the dumbest thing I've read. Focus on the core airline? UHM, yeah...is Cartny not the CEO who sold the non-core assets (SABRE, AMR COMBS, etc.)??? What is the Arena in Miami? Well, we call it advertising. Everytime a game is played there, announcers on tv say "Welcome to the American Airlines Arena". When you read the sports section in the newspaper you read, "Last night at the American Airlines Arena...". Check out the shows on Broadway, "Now showing at the American Airlines Theatre...". Anheuser Busch did a study some years back. They stopped advertising in St. Louis. St. Louis, the company's home for years. Everybody knows AB in St. Louis. Chances are a St. Louis resident knows someone who works there. Finding a bar that serves Coors is a big deal. Guess what happened to grocery store sales in St. Louis when they stopped advertising in their backyard? Coors and Miller did better. Is that what you want for AA? Is that a good idea? No. American continues to have a need to advertise. Why do line employees think that a company's sole obligation is to give every cent earned to line employees? It proves you have no clue how to run a business, so let the people who do, do so. Now, before you go off and so it's obvious that Carty doesn't know how to run a business given current results...tell me what you would do. It damn well better include employee cutback, because that is a large problem for AA right now. To think otherwise is to ignore reality. While ignorance may be bliss, the result of such is disaster!
Don't be to sure about that. At the game it may be the American Airlines arena. Ads and anouncements outside of there, refer to it as the triple A. Good ad for AA or for the automobile association?
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On 1/18/2003 10:07:11 AM WingNaPrayer wrote:
AA in BK by June.....August at the latest
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[/blockquote]
I think more like April or May..
I think they should stop throughing chicken at each other
in the Boardroom to..
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On 1/18/2003 10:07:11 AM WingNaPrayer wrote:
AA in BK by June.....August at the latest
----------------
[/blockquote]
I think more like April or May..
I think they should stop throughing chicken at each other
in the Boardroom to..
"It IS, what it IS" !!!!!!!!!!!!!!
(Captain Billy Tyne/Andrea Gail/The perfect storm/Gloucester Mass./OCT-1991)
R I P.
NH/BB's
(Captain Billy Tyne/Andrea Gail/The perfect storm/Gloucester Mass./OCT-1991)
R I P.
NH/BB's
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