parker should be removed just for doing what he has for this company him and all his coworkers that are ruining a world class airline and letting spirit and frontier beat us in on time .this is terrible to be worse than spirit and frontier these people should just resign.
2020 Pilot Thread
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OP
Black Swan
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"Here’s my take on Boeing, a case study of how weaponized financialization and management greed destroyed a crown jewel of American industry....."
From same article: Epsilon Theory
"Please, for the love of god, let’s not reignite the stock buyback wars of 2019 over this. I do not believe that buybacks are inherently evil or that they should be banned from existence. I DO believe, however, that they are intentionally used by management to obfuscate and sterilize ludicrous stock-based compensation schemes, so that much of the capital that is supposedly “returned to shareholders” through buybacks is not returned at all, but is hijacked directly into management’s pockets. I DO believe that this sterilization scheme is so widespread and so harmful to shareholders and to society that it is necessary to implement government restrictions on buybacks. You can read more of my thoughts on all this here, here and here.
Whether or not you agree with me on the evolution of stock buybacks into a ubiquitous instrument of management self-dealing, I hope that we can all agree on this: stock buybacks are a CHOICE.
I’m sorry that you airline management teams and boards of directors made a bad choice. I’m sorry that you and your shareholder base thought it was stupid and inefficient to hold more cash against the prospect of a global recession. Welcome to capitalism."
From same article: Epsilon Theory
"Please, for the love of god, let’s not reignite the stock buyback wars of 2019 over this. I do not believe that buybacks are inherently evil or that they should be banned from existence. I DO believe, however, that they are intentionally used by management to obfuscate and sterilize ludicrous stock-based compensation schemes, so that much of the capital that is supposedly “returned to shareholders” through buybacks is not returned at all, but is hijacked directly into management’s pockets. I DO believe that this sterilization scheme is so widespread and so harmful to shareholders and to society that it is necessary to implement government restrictions on buybacks. You can read more of my thoughts on all this here, here and here.
Whether or not you agree with me on the evolution of stock buybacks into a ubiquitous instrument of management self-dealing, I hope that we can all agree on this: stock buybacks are a CHOICE.
I’m sorry that you airline management teams and boards of directors made a bad choice. I’m sorry that you and your shareholder base thought it was stupid and inefficient to hold more cash against the prospect of a global recession. Welcome to capitalism."
Last edited:
dariencc
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Here is a fact to chew on. During the years of Doug Parker's leadership, the total net profit of the NuHart Hair Replacement Clinic of Pittsburgh has greatly exceeded that of American Airlines.
dariencc
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The lesson here is that only one American employee was sharp enough to see the big picture. The rest of us losers were in the wrong business.
Will it be business as usual with Parker running the airline? Or will employees demand new leadership?
This is a CEO who spent time in jail for DUI, then bankrupted the airline through reckless stock sprees. Isn't it time for a new face?
Watch as he does any and all things to protect his stock, to the detriment of employees and taxpayers.
The jets are flying right now with 2, 5, 30 people. Further draining the airline. Why are multiple flights a day going with 2-3-4 passengers to Bos, PHL, NY?
Why aren't they limited to one a day while the hemorrhage continues?
This is a CEO who spent time in jail for DUI, then bankrupted the airline through reckless stock sprees. Isn't it time for a new face?
Watch as he does any and all things to protect his stock, to the detriment of employees and taxpayers.
The jets are flying right now with 2, 5, 30 people. Further draining the airline. Why are multiple flights a day going with 2-3-4 passengers to Bos, PHL, NY?
Why aren't they limited to one a day while the hemorrhage continues?
diamondcutter
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- Apr 11, 2007
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What airline did he bankrupt?
Standby for the bankruptcy of American Airlines.
It’s headed that way. That cash used on stock could possibly have staved it off longer.
Crzipilot
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- Mar 23, 2004
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rumor has it. The Munster ,was supposed to retire in sept anyways, but is taking the early out? Guess he got stuck with a big sick bank after flying a few years of 150+ hour months. Thank god
Allegheny
Newbie
- Nov 9, 2016
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Douglas Parker is the most experienced Airline CEO when it comes to chapter 11.
That's correct, he got on at AWA just after they exited Chapter 11, did the US Airways / AWA merger in Chapter 11 and then did the largest merger in history between US Airways and American. He is very comfortable in the Chapter 11 process and his team is very experienced.
I think he could file in a heart-beat. He will file early, while the company has ample cash, his biggest problem will be explaining away the stock buybacks. No matter what he and his lead team members will land on their feet. Rank and file, I am not so sure.
That's correct, he got on at AWA just after they exited Chapter 11, did the US Airways / AWA merger in Chapter 11 and then did the largest merger in history between US Airways and American. He is very comfortable in the Chapter 11 process and his team is very experienced.
I think he could file in a heart-beat. He will file early, while the company has ample cash, his biggest problem will be explaining away the stock buybacks. No matter what he and his lead team members will land on their feet. Rank and file, I am not so sure.
OP
Black Swan
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You have that correct. He’s no slacker when it comes to maneuvering in that environment. You’ve got to hand it to him seeing how dire the situation was at AWA.
VOLUNTARY LEAVES
777. 80 CA. 30 FO
787. 60 CA. 30 FO
330. 50 CA. 20 FO
767. 30 CA. 5. FO
320. 150CA. 15 FO
737. 80 CA. 10 FO
190. 3 CA. 0FO
dariencc
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Dougie followed the Steve Wolf playbook to a T. Strip mine the company to buy back stock and hope for a huge payday for the major shareholders, who would include themselves.
Once again the hardworking line employees are left holding the bag while Doug presses the flesh at the GSW sushi bar with a bunch of grinning cubical dwelling parasites.
Why does the airline continue to fly A330 jets PHL-SJU with loads of 15 to 20 passengers? It’s a disaster burning that much fuel, paying the highest rates for landing fees and crew costs. Is there a plan to again bankrupt the airline and break contracts, pensions and leases? Or is it just complete incompetence?
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