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Romney’s Bain behind airline plan to slash jobs and pensions
http://www.peopleswo...s-and-pensions/
Just one "minor" correction, Romney has not worked at Bain since 1999--12 years.
From Wikapedia:
In 1990, Romney was asked to return to Bain & Company, which was facing financial collapse.[58] He was announced as its new CEO in January 1991[70][71] (but drew only a symbolic salary of one dollar).[58] Romney managed an effort to restructure the firm's employee stock-ownership plan, real-estate deals and bank loans, while rallying the firm's thousand employees, imposing a new governing structure that included Bain and the other founding partners giving up control, and increasing fiscal transparency.[48][52][58] Within about a year, he had led Bain & Company through a turnaround and returned the firm to profitability without further layoffs or partner defections.[52] He turned Bain & Company over to new leadership and returned to Bain Capital in December 1992.[48][71][72]
Romney left Bain Capital in February 1999 to serve as the President and CEO of the 2002 Salt Lake City Olympic Games Organizing Committee.[48] By that time, Bain Capital was on its way to being one of the top private equity firms in the nation,[60] having increased its number of partners from 5 to 18, having 115 employees overall, and having $4 billion under its management.[57][61] Bain Capital's approach of applying consulting expertise to the companies it invested in became widely copied within the private equity industry.[21][61] Economist Steven Kaplan would later say, "[Romney] came up with a model that was very successful and very innovative and that now everybody uses."[62]
autofixer
In Topic: US Airways Confirms It Has Hired M&A Advisors For Possible AMR Takeover
11 February 2012 - 01:18 PM
AAviator, on 11 February 2012 - 09:59 AM, said:
Yes, AA is in bankruptcy. GDP is growing at almost 3%. Despite claims that there's no room for growth in the industry, as GDP grown, so will air travel. We have firm orders/options from Boeing 296/158, AirBus, 260/365.. From an AA pilot perspective, LCC offers the least desirable of all options short of liquidation, and we both know that that is the least likely of all options.
Final 2011 GDP 1.7%
http://articles.busi...stment-real-gdp
In Topic: F/A agreement, list the concessions
10 February 2012 - 09:59 PM
FlyUs, on 10 February 2012 - 09:49 PM, said:
From what I'm hearing on the East it's definitely not going to pass. A $4.00 increase is a slap in the face for what we've given up. I would separate from the pilots.. but not for that price. It's going to cost them more than that. Just curious.. what would $44.00 in 2001 be adjusted for inflation in 2012? What ever that is.. plus at least a $5.00 an hour raise and I'll do it. This is BS!!!
$44 in 2001 is $54.28 in 2010
