What is the time frame now? About 7 (seven) years with 1 (one) profitable quarter? How many billions lost since the lawyers were loitering on the bankruptcy steps and still no filing..... Yeah Im still buying it folks.
Pretty amazing when you think about it. Just minutes away from Bankuptcy while waiting for the F/A's to re-vote to get the desired outcome. Carty ran out of town for telling lies. Seven years of huge reported losses. And Arpey always writes "while results are dissappointing, we are positioned for a great future".
This Airline should be on next Rilpey's Believe It Or Not show.
This could have been the plot for a TV movie, considering all the drama. "They were on their way up the courthouse steps when the phone call cam ...". BULLXXXX - a rather large pile at that.
When the reps were "sworn to secrecy" to look at the books in order to determine if the company could file for Chapter 11 protection, that was when they lost me. At that time (and still after the Oct 2005 changes) the law was written in such a way there were NO qualifications re: filing for protection - a solvent company could have filed. All at issue was how likely the company was to get what they wanted. That was quite a gamble as I don't believe yet AMR had any intent of filing for bankruptcy.
How much longer can these twits keep turning in this poor performance? Do the "management" firms on the property insist on payment up front now?
BTW, Mr. Informer - do you really believe Carty's actions were without blessings? Think about it - he had decided to leave AMR and the BOD, knowing full well the workers would want blood, it was arranged for the "leader" to fall on his sword creating the cover for his departure. Executives are slaves to the BODs - they are the board's workers. They are in their positions because they consistantly say YES, not because of any special qualities/abilities they might possess. This is a game of "when stuck to the ceiling by the lips, who falls last?"
Consider something else - if that $46 million slush fund was created for the upper management, how much is in it now? How far would that fund go in paying the ridiculous amounts executive retirees would demand?
I would bet that was Carty's departure gift, set aside in a bankruptcy-proof account knowing full well we wouldn't have access to the records. Everything about that "election" went exactly as planned.
We seem to be living through quite the drama, very nicely orchestrated by both company and their pet union, trying to influence the workers' way of thinking and nothing is as it appears/is related. The magic of numbers in the bookkeeping process is always fascinating as financial performance can be tailored to fit the situation.
