So if i'm holding a mortgage with $100,000 left on it and have $50,000 in the bank is that considered borrowed money? Are we all bankrupt regardless of our ability to service the debt?
Debt in itself is not toxic to a business, most businesses carry some debt, whats more critical is its ability to service the debt.
The fact that they are still able to borrow shows that people who get to look at a lot more than we do were confident that AA would be able to pay. Maybe these experts were wrong, but arent you the one who is always telling us we should rely on these types of experts?
As mechanics the two most important things we need to know are how to fix airplanes and how much to charge. Letting the company tell us how much we should charge while ignoring what our peers get for the same thing simply isnt good business.
I,m sitting here on what is now a Wednesday afternoon getting bumped from one flight to the next in a crowded terminal, if AA cant manage their money and pay us what others pay then as mechanics we are better off over the long run to see them liquidate, the sooner the better, because all theses people arent going to all of a sudden become homebodies. Somebody will scoop up the facilities and equipment and then they will need workers with the skillsets required to keep it all moving.