It's August 1st, What Happened?

[mrfish3726]

http://www.rockymountainnews.com/drmn/busi...3965282,00.html

http://www.rockymountainnews.com/drmn/busi...3965092,00.html

http://www.rockymountainnews.com/drmn/busi...3965213,00.html

Still a long way to go and could even wind up like US Airways seeking BK twice within two years. This month will be VERY interesting!

 

[Bear96]

How so? At the end of the month, UA will still be in BK. Big deal. Why is that so interesting to you?

 

[mrfish3726]

Bear96,

Because your heavenly CEO told EVERYONE that the BK exit plan would be filed AUG 1ST????????????????????????????????

 

[darkclouds]

Bear96,

Because your heavenly CEO told EVERYONE that the BK exit plan would be filed AUG 1ST????????????????????????????????

[post="285248"][/post]​

Fishface,

Do you even read the stuff you post? None of the articles you have linked mentions Aug. 1st as date the exit plan would be filed.

Not that I really care...but you seem to be making a big deal about the date.
You seem more concerned about the exit plan than the employees!

You are not starting to get worried for us are ya?

 

[UALDC767]

Bear96,

Because your heavenly CEO told EVERYONE that the BK exit plan would be filed AUG 1ST???????????????????????????????? 

[post="285248"][/post]​

Ummmmm no.... UAL said on or around Aug 1 for the filing. From another thread:

United Moves Closer to Leaving Bankruptcy Protection

By Ross Snel
TheStreet.com Staff Reporter
7/1/2005 11:27 AM EDT
Click here for more stories by Ross Snel



United Airlines' parent, UAL (UALAQ:OTC BB - news - research), says it's on track to emerge this fall from Chapter 11 bankruptcy protection.

The company announced Friday that it was initiating its exit process by filing a proposed timeline with its bankruptcy court. It also said it plans to file a plan of reorganization with the court around Aug. 1.

Once UAL mentioned the "on or around AUG 1" date some creditors complained that that was too close of a date for them to repsond so it may even get pushed back some to accomodate their wishes of more time for review.

So keep your panties on Fish. I'm sure you will be the first to let us know when UAL does file the POR and of course, how the plan sucks. :down:

DC

 

[sastal]

Ummmmm no.... UAL said on or around Aug 1 for the filing. From another thread:
Once UAL mentioned the "on or around AUG 1" date some creditors complained that that was too close of a date for them to repsond so it may even get pushed back some to accomodate their wishes of more time for review.

So keep your panties on Fish. I'm sure you will be the first to let us know when UAL does file the POR and of course, how the plan sucks. :down:

DC

[post="285252"][/post]​

You gotta give Fish credit for keeping us posted about the company. Imagine how boring this place would be without him.

 

[mrfish3726]

Sastal, yeap need to continually remind you how mindless your management team really is!!! :unsure:

 

[boeing787]

Hey Fishy I think FRONTIER lost more money this quarter. If I was you I'd be looking at nearby aquariams to go swim in for some extra cash.

 

[dc3fanatic]

Bear96,

Because your heavenly CEO told EVERYONE that the BK exit plan would be filed AUG 1ST????????????????????????????????

[post="285248"][/post]​

http://www.usaviation.com/forums/index.php...ndpost&p=281268

 

[Bear96]

Bear96,

Because your heavenly CEO told EVERYONE that the BK exit plan would be filed AUG 1ST????????????????????????????????

[post="285248"][/post]​

Actually I thought he said sometime this fall, not Aug. 1.

And it is not "my" CEO. I don't work for UA.

But anyways .... SO? What does it matter? Why do you care? Let's accept for the sake of argument that a CEO is wrong about an exit date. If you are not an employee or investor (which you are not), so what?

?????

 

[UALDC767]

Before Fish gets himself all worked up.

http://biz.yahoo.com/prnews/050802/nytu099.html?.v=19

"United and the Committee have agreed, at the Committee's request, that the company will not file its Disclosure Statement, Plan of Reorganization and supplements at this time in order to provide an additional opportunity to continue collaborating on and reviewing the complex, extensive documents as part of the overall confirmation process.

"Both parties agree that this approach and timing can help facilitate an even smoother exit process."

DC

 

[WNrforlife]

What a joke. This is just delaying the inevitability of Chapter 7 liquidation.

UAL is going down!!!

 

[Borescope]

This just came across the wire, so it looks like is another year in BK

AP
United Delays Filing Reorganization Plan
Tuesday August 2, 11:02 am ET
United Delays Filing Reorganization Plan to Exit Bankruptcy, May Push Chapter 11 Exit to 2006

CHICAGO (AP) -- United Airlines said Tuesday its parent company has delayed filing a reorganization plan to leave bankruptcy, a move that could push its exit from Chapter 11 protection into next year.

 

[Borescope]

This just came across the wire, so it looks like is another year in BK

AP
United Delays Filing Reorganization Plan
Tuesday August 2, 11:02 am ET
United Delays Filing Reorganization Plan to Exit Bankruptcy, May Push Chapter 11 Exit to 2006

CHICAGO (AP) -- United Airlines said Tuesday its parent company has delayed filing a reorganization plan to leave bankruptcy, a move that could push its exit from Chapter 11 protection into next year.

 

[unichee]

August 1, 2005 (7:00 pm CDT)
Q-A on POR Timing


1. What is the reason for this delay?

When we first discussed the expected timing for these filings, we proposed a very aggressive exit schedule. Even with this new timing, we are continuing to move forward on an aggressive path to exit. Both United and the Creditors’ Committee agree that this approach can help facilitate an even smoother exit process.

2. When do you plan to exit bankruptcy?

Given today’s announcement, exit from bankruptcy will be later than ideally expected, but still generally within our overall exit timeframe. We are, however, continuing to move forward on an aggressive path to exit. We expect to file our Plan of Reorganization in approximately one month and expect to have additional details on exit timing at that point.

3. Why is it taking so long for United to get its business plan completed?

We were ready to file the Plan of Reorganization and Disclosure Statement today. We did not file now at the request of the Creditors’ Committee.

4. Does this mean that your Creditors’ Committee would have opposed the POR if filed now?

We are not going to speak for the Creditors’ Committee, with whom we are continuing to collaborate.

5. Is this decision tied in any way to the ongoing 1110 lease negotiations?

No. Ongoing lease negotiations are operating on a separate track and did not affect this decision.

6. Is today’s delay – which comes after another increase in the price of oil – evidence that the company will not be able to meet the fuel assumptions in its business plan?

No. Both the company and its Creditors’ Committee agreed that this approach and timing can help facilitate an even smoother exit process. It does not reflect any impact caused by recent changes in fuel prices.


7. Isn’t this another restructuring failure for United’s management team?

Absolutely not. We were ready to file the Plan of Reorganization and Disclosure Statement today. United and the Committee agreed, at the Committee’s request, to pursue this revised timeline in order to provide an additional opportunity to continue collaborating on and reviewing the complex, extensive documents that are part of the overall confirmation process. Both parties agree that this approach and timing can help facilitate an even smoother exit process.

8. Why has the company consistently been unable to meet its own restructuring deadlines?

We were ready to file the Plan of Reorganization and Disclosure Statement today. We did not file now at the request of the Creditors’ Committee. By investing the additional time now, we believe that this will ultimately result in a better outcome for our employees and all of our key stakeholders.

9. Is there any chance this filing could get delayed again?

United announced today that it expects to file its Plan of Reorganization in approximately one month.