Carty - From Demands and Threats to Begs and Apologies?

[FWAAA]

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On 4/21/2003 8:48:33 PM AAObserver wrote:

He is begging and apologizing in an effort to save the airline.

He clearly has more interest in saving the airline than the unions do.

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Exactly.

All three unions'' outside advisors (attorneys, bankers, etc.) told them that Chapter 11 is not where the union members want to be - yet the vocal union members seem to know better. I don''t get it.

AA has already said they will seek $500 million more from employees if AA has to file Ch 11, reflecting the increased expenses to the company that bankruptcy would impose (lawyers, bankers, increased interest rates, etc.). The vocal employees here keep saying "So what? We''ll take our chances with the judge" as if it''s some small claims trial in front of Judge Judy or Judge Wapner.

Besides, those lawyers and bankers don''t know just how "evil" Carty is or how "corrupt" AA has been or just how badly they''ve all been screwed, so their advice is not sound.

Carty is already the lowest paid CEO of any major carrier. His stock, while not completely worthless, is down about 90% in value. He screwed up and is now apologizing and taking full responsibility for his mistake.

Carty wants AA to survive for several reasons. One is that his stock has lots of upside right now. Another reason is that he truly wants to keep AA employees employed. Yet another is his ego - AA has gone 77 years without filing for bankruptcy, and he doesn''t want it to happen during his shift. Can''t blame him for that.

The final reason - there''s no guarantee that AA will successfully complete a reorganization. Chapter 11 is not some magical process where all the company''s debts go away and the company grows and prospers. As a lawyer, I''ve seen what happens when Ch 11 companies become Ch 7 companies. It ain''t pretty.

As one of AA''s most frequent fliers (over 150k per year), I have a lot at stake in AA (not a large mileage balance, however - I use them as I earn them). I''m tall, so I really value MRTC. As an investor, I want AA to survive and not end up in bankruptcy. I have several friends who work for AA. They know what bankruptcy could mean to their futures and pensions.

What''s really sad is that nothing that Carty or AA does now will change the minds of the workers who just want to burn down the house on their way out. Sometimes you''ve got to burn down the village to save it, right?

It''s been a great ride, AA, but I fear your end is near.

 

[AAObserver]

He is begging and apologizing in an effort to save the airline.

He clearly has more interest in saving the airline than the unions do.

 

[RV4]

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On 4/21/2003 8:48:33 PM AAObserver wrote:

He is begging and apologizing in an effort to save the airline.

He clearly has more interest in saving the airline than the unions do.

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So let me get this straight. Carty is apologizing for the unions because they have little or no interest in saving the airline?

Hmmm, I need brush up on my reading and comprehension skills, because it sure appears to me he is apologizing for his own actions, not those of the unions.

In fact, he appears to be a desperate man about to be removed as the CEO of the largest airline.

 

[AAONO]

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On 4/21/2003 9:12:52 PM AAObserver wrote:

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On 4/21/2003 9:03:28 PM RV4 wrote:



So let me get this straight. Carty is apologizing for the unions because they have little or no interest in saving the airline?

Hmmm, I need brush up on my reading and comprehension skills, because it sure appears to me he is apologizing for his own actions, not those of the unions.

In fact, he appears to be a desperate man about to be removed as the CEO of the largest airline.

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He is apologizing to the unions in order to keep them from running the airline into the ground.

And I agree he is desperate, though I doubt his worries involve being removed as CEO. He knows what lies ahead for the airline in chapter 11 and doesn''t want to go there. Why you do want to go into chapter 11 is beyond me.


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He doesn''t want to go there because he will be exposed to the judge. I personnally have nothing to lose beyond what has already been stripped from me....oh wait, I get to say no again, perhaps the judge won''t take everything? Perhaps the golden parachutes will have rip chord failures! Whis I was a parachute rigger, I''d hook ''em up! See you in court, then the unemployment line!

 

[AAONO]

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On 4/21/2003 8:48:33 PM AAObserver wrote:

He is begging and apologizing in an effort to save the airline.

He clearly has more interest in saving the airline than the unions do.

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AAobserver, I am afraid that your job duties of saying "Yes Mr. Carty, Yes Mr. Carty" are no longer needed here.

See you in the unemployment line

 

[RV4]

Maybe it would be safe to say that most union members do not want to fund the Pilot''s "Sacred Cow"?

 

[RV4]

I am confused about this man and the vision of the future.

We were faced with deadlines and threats which led to voting procedures lacking in desire.

Now, the deadlines have passed and there is still more time? If we had this much time, why didn't we take it slow and do it right?

I am sorry Mr. Carty. But I fear you have worn on us.

It is not just the mistake about communicating the management bonuses and pensions, it is additionally the threats of deadlines that have long passed and still no Chapter 11 filing.

While none of us begs to see the Judge, your words and promises are holding water like a plastic bucket that has been hit by a 12 guage shotgun blast.

I can appreciate your desire to stay and lead us, and I can understand the apologies. But the fact is, your so-called extreme deadlines and the resulting rush to vote is exactly what caused most of these problems.

The press releases being generated about your current problems is more of an embarrasment to me as an AA employee than they are convincing anyone that your are now crediblile and that we can trust you.

I am sorry Mr. Carty, but I feel it is time for a change of not only leadership but also the vision for our future.

I believe you have stated that you have other offers from other airlines? Maybe a fresh start for you and us is exactly what we all need right now. In other words, show us why the retention bonus was really needed and go help our competition with their problems. You can prove yourself correct by your success at your next stop.

Good Luck Mr. Carty, competition makes better fighters out of all of us!

 

[WingNaPrayer]

However, you must also explain please . . . what does ONE old fart need with a hundred million dollars?

Then ask again . . . what do 120,000 employees need with an extra thousand dollars a year each?

Hmmmmmm.
***** ***** ***** ***** *****

 

[AAObserver]

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On 4/21/2003 9:03:28 PM RV4 wrote:


So let me get this straight. Carty is apologizing for the unions because they have little or no interest in saving the airline?

Hmmm, I need brush up on my reading and comprehension skills, because it sure appears to me he is apologizing for his own actions, not those of the unions.

In fact, he appears to be a desperate man about to be removed as the CEO of the largest airline.

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He is apologizing to the unions in order to keep them from running the airline into the ground.

And I agree he is desperate, though I doubt his worries involve being removed as CEO. He knows what lies ahead for the airline in chapter 11 and doesn''t want to go there. Why you do want to go into chapter 11 is beyond me.

 

[AAObserver]

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On 4/21/2003 903 PM FWAAA wrote:

Exactly.

All three unions' outside advisors (attorneys, bankers, etc.) told them that Chapter 11 is not where the union members want to be - yet the vocal union members seem to know better. I don't get it.

AA has already said they will seek $500 million more from employees if AA has to file Ch 11, reflecting the increased expenses to the company that bankruptcy would impose (lawyers, bankers, increased interest rates, etc.). The vocal employees here keep saying "So what? We'll take our chances with the judge" as if it's some small claims trial in front of Judge Judy or Judge Wapner.

Besides, those lawyers and bankers don't know just how "evil" Carty is or how "corrupt" AA has been or just how badly they've all been screwed, so their advice is not sound.

Carty is already the lowest paid CEO of any major carrier. His stock, while not completely worthless, is down about 90% in value. He screwed up and is now apologizing and taking full responsibility for his mistake.

Carty wants AA to survive for several reasons. One is that his stock has lots of upside right now. Another reason is that he truly wants to keep AA employees employed. Yet another is his ego - AA has gone 77 years without filing for bankruptcy, and he doesn't want it to happen during his shift. Can't blame him for that.

The final reason - there's no guarantee that AA will successfully complete a reorganization. Chapter 11 is not some magical process where all the company's debts go away and the company grows and prospers. As a lawyer, I've seen what happens when Ch 11 companies become Ch 7 companies. It ain't pretty.

As one of AA's most frequent fliers (over 150k per year), I have a lot at stake in AA (not a large mileage balance, however - I use them as I earn them). I'm tall, so I really value MRTC. As an investor, I want AA to survive and not end up in bankruptcy. I have several friends who work for AA. They know what bankruptcy could mean to their futures and pensions.

What's really sad is that nothing that Carty or AA does now will change the minds of the workers who just want to burn down the house on their way out. Sometimes you've got to burn down the village to save it, right?

It's been a great ride, AA, but I fear your end is near.

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Amen FWAAA.

And I had to chuckle at your Judge Judy comment. A Bankruptcy judge ain't a small claims judge. But I do think it would be quite funny to see what Judge Judy would have to say to some of the union folks in a courtroom considering her strong belief that we are all responsible for our own actions. I would imagine it would be something along the lines of "Carty is the boss applesauce. If you don't like the way he runs the company then you are free to leave".

 

[KCFlyer]

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On 4/21/2003 923 PM AAONO wrote:

He doesn''t want to go there because he will be exposed to the judge. I personnally have nothing to lose beyond what has already been stripped from me....oh wait, I get to say no again, perhaps the judge won''t take everything? Perhaps the golden parachutes will have rip chord failures! Whis I was a parachute rigger, I''d hook ''em up! See you in court, then the unemployment line!

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Man - willing to lose it all because you''re upset with one guy. That''s a shame. Lets assume that Carty was supposed to get a $100,000,000 golden parachute, but the judge declares a rip cord failure. Lord have mercy, the company is saved and you won''t need to take any cuts. Or will you? LAst thing I saw was that AA had 121,000 employees. Don''s hundred million parachute would translate into this for every employee of AA:

$826 per year or

$68 per month or

$17 per week

You''d really be willing to give it all up on the hopes of getting an extra $17 per week out of the old fart?

Enjoy the unemployment line, but you might want to know that unemployment benefits eventually run out. In fact, they are running out several MONTHS before many folks are able to find a replacement job that allows the to live even a step below the "level to which they have become accustomed". Hope you''ve got a decent sized nest egg, because I imagine that right after your unemployment bennies run out, you''ll be scratching your head and thinking...''if only".

 

[Airline Crew Sched]

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On 4/21/2003 8:48:33 PM AAObserver wrote:

He is begging and apologizing in an effort to save the airline.

He clearly has more interest in saving the airline than the unions do.

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Do not get me wrong I am not pro Union. But the apology from Carty is like an apology from a man that just raped your daughter. It means soo little. He blantently lied to all of us Union and non Union. I could care less about the retention bonus or pension. Just want the truth. Uncle BOB if oyu are listening please come back

 

[AirwAr]

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On 4/21/2003 8:43:58 PM RV4 wrote:




.
.
While none of us begs to see the Judge, your words and promises are holding water like a bucket that has been hit by a 12 guage shotgun blast.
.
.
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What are you talking about? The last few weeks you''ve done nothing but run around this board telling everyone to vote "NO". Where do you think the "NO" vote will get you? If you don''t consider the "NO" vote as begging for the judge, what is?

 

[FA Mikey]

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On 4/21/2003 903 PM FWAAA wrote:


AA has already said they will seek $500 million more from employees if AA has to file Ch 11, reflecting the increased expenses to the company that bankruptcy would impose (lawyers, bankers, increased interest rates, etc.). The vocal employees here keep saying "So what? We''ll take our chances with the judge" as if it''s some small claims trial in front of Judge Judy or Judge Wapner.

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Seek, but you may not find. Negotiating in good faith is something AA needs to work on. Prior to seeing a judge AA will be required thru 1113 to work out a fair deal. If given a choice of being screwed now or later, Why is so hard to understand someone wanting later?

A tell it like it is executive. Let us the employees help you save this company. You can''t get there by lying to us, with holding information. Being unrealistic with the true value of our concessions. Try listening to our ideas and we could and would be a lean mean SWA jetblue, fighting machine.

 

[BDLDFW]

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What''s really sad is that nothing that Carty or AA does now will change the minds of the workers who just want to burn down the house on their way out. Sometimes you''ve got to burn down the village to save it, right?

It''s been a great ride, AA, but I fear your end is near.
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Maybe Carty will just throw in the towel and say "Union''s don''t bother to revote, we''ll just take this thing to bankruptcy right now. Think you''re going to get a better deal in BK? Let''s find out."