- Banned
- #76
Again,
To,the extremes...
No one including me said TW was flying high, especially during the winter.
At that time, niether did anyone say TWA was in imminent danger of dlosing the doors.
The most recent SEC report outlined a situation thay was better than most years, with cash on hand, cash flow better than previous years and full confidence in being able to refinance "the note", which did have an automatic extension.
Carty wanted TWA. Right or wrong, he did.
What none of you saw was the power struggle amongst TWA's board, with the Cooper led effort to replace Compton's team with the J Alix restructuring. That meeting was cancelled at the last minute, in order to hear the AA proposal. The AA proposal that AA's entire BOD approved.
What you also didn't see was TWA abandon the usual winter cash conservation measures, some of which were quite creative, extreme even, along with the usual winter presales of blocks of travel to STL RCGA companies and other corporate accounts to raise cash.
So the picture youndid see, after the announcement, was what you saw, but it was only the top layer.
No one ever said that TW was a financial powerhouse, only that it was not in imminent danger of closing the doors the first week of January 2001. Once the AA prooposal/AA deal had been accepted, it was a one-way street, and anything else was undoable.
Speculation about what would have happened absent the AA deal is, still, just exactly that.
No matter how often it is used as rationalization or justification for the treatment of former TWA employees, especially by the APFA, it is still not historical fact, and still is speculation. That doesn't just mean the actial SLI, but the things that were said, in print and otherwise, by APFA officials, especially including Ward.
There was no valid reason for the TW employees to be charecterized as scabs, ( other than the few who were left--far fewer than were at AA...), less qualified, less educated, less well trained, or any of the rest of it, and yes, they were. I have the SkyWords, among others.
To,the extremes...
No one including me said TW was flying high, especially during the winter.
At that time, niether did anyone say TWA was in imminent danger of dlosing the doors.
The most recent SEC report outlined a situation thay was better than most years, with cash on hand, cash flow better than previous years and full confidence in being able to refinance "the note", which did have an automatic extension.
Carty wanted TWA. Right or wrong, he did.
What none of you saw was the power struggle amongst TWA's board, with the Cooper led effort to replace Compton's team with the J Alix restructuring. That meeting was cancelled at the last minute, in order to hear the AA proposal. The AA proposal that AA's entire BOD approved.
What you also didn't see was TWA abandon the usual winter cash conservation measures, some of which were quite creative, extreme even, along with the usual winter presales of blocks of travel to STL RCGA companies and other corporate accounts to raise cash.
So the picture youndid see, after the announcement, was what you saw, but it was only the top layer.
No one ever said that TW was a financial powerhouse, only that it was not in imminent danger of closing the doors the first week of January 2001. Once the AA prooposal/AA deal had been accepted, it was a one-way street, and anything else was undoable.
Speculation about what would have happened absent the AA deal is, still, just exactly that.
No matter how often it is used as rationalization or justification for the treatment of former TWA employees, especially by the APFA, it is still not historical fact, and still is speculation. That doesn't just mean the actial SLI, but the things that were said, in print and otherwise, by APFA officials, especially including Ward.
There was no valid reason for the TW employees to be charecterized as scabs, ( other than the few who were left--far fewer than were at AA...), less qualified, less educated, less well trained, or any of the rest of it, and yes, they were. I have the SkyWords, among others.