phasersonstun2
Veteran
- May 1, 2003
- 560
- 4
The CFO lost his job for the same reason that Gangwal did... failure to perform.
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The affidavit he had in front of him to read, verify and approve. In court on the stand he had to speak from memory and if you review the transcipts you will quickly realize despite which side of the fence you sit on that he was able to answer the questions very well. I know it makes for great foder to isolate less than 1% of his testimony and disect it to show that he is "incapable", however under scrutiny you could do that with many of the witness if not all.ClueByFour said:If that is the case, he should have refrained from filing a affidavit in support of the 1113(e) motion. You cannot have it both ways.
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PITbull said:USFlyer,
So just what does a CFO have to know when he is put on a witness stand basically defending the company's stance on the importance of granting the company major relief in wages from all labor groups.
What exactly does he need to know? What the CASMS are? How much tthe a/c leases are? What is relavent? What exactly does he have to know about labor in order to convince a judge that the 23% wage cut across the board ($238 million) is imperative to the company's survival. How did he come up with that figure of savings needed?
Didn't he have to know what all labor groups wages are and each year of service. I'm sure he would be able to use a "cheat-cheat" to quote from...don't you think?
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You might want to turn your phasers off stun…….they both quit, they were not asked to leave.phasersonstun2 said:The CFO lost his job for the same reason that Gangwal did... failure to perform.
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700UW said:Yes lets adapt to change by ridding US Airways of failed management, Lakefield sat in the court room like a bump on a log, we all know Glass is running the show, they all need to go, especially the Executive VP of Operations.
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Hawk said:You want most of the senior executives to leave the company. You would have a difficult time finding any qualified aviation executives that would leave their current position to join Airways with the turbulent situation. We need to keep all of the executives on board to ensure that we remain a viable company and successfully exit BK. Al Crellin is key to our operations. He knows Airways and we need him on board. Jerry Glass is the best in the industry. Period! I have a great deal of respect for both of these individuals.
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real world said:The affidavit he had in front of him to read, verify and approve. In court on the stand he had to speak from memory and if you review the transcipts you will quickly realize despite which side of the fence you sit on that he was able to answer the questions very well. I know it makes for great foder to isolate less than 1% of his testimony and disect it to show that he is "incapable", however under scrutiny you could do that with many of the witness if not all.
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Hawk said:Each employee should give thanks to Dave Davis for contributing to our company in last few years. He was instrumental in securing essential financing. You can't expect him to know every single salary for the 28K employees. You have no idea what this man has done for this company.
You want most of the senior executives to leave the company. You would have a difficult time finding any qualified aviation executives that would leave their current position to join Airways with the turbulent situation. We need to keep all of the executives on board to ensure that we remain a viable company and successfully exit BK. Al Crellin is key to our operations. He knows Airways and we need him on board. Jerry Glass is the best in the industry. Period! I have a great deal of respect for both of these individuals.
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ah ha ha you know not what you say or of whom you speak.....real world said:You are so wrong, you absolulty have no idea what you are talking about.
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real world, I see you didn't bother answering my question....I'll ask it again..Do you condone this type of behavior from CFO's ?? It's a Yes or No answer..All he had to do was tell the truth, the WHOLE truth, and nothing but the truth...SADreal world said:Answered in 700 reply
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USA320Pilot said:Real World's comments are accurate.
Here's a problem:
"Talented individuals are being recruited away to other companies that pay better money than US Airways is paying or can pay," US Airways spokesman David Castelveter said yesterday. "We're losing management at a rate of 20 percent a month, which is a very high number."
Complete Story
I believe the company's financial personnel are still talented with Lakefield, Beier, and Serck-Hanssen being joined by Philip and Stanley. Stanley has been on the company's board for the past 5 months and he has been involved in the formal reorganization.
Philip is the fund manager for $59 billion retirement fund in both equity and fixed income investments, which is more than twice the size of RSA's assets. Did US Airways chairman David Bronner find an exit financing partner, provided the company makes it that far?
I agree with Hawk, US Airways needs to keep all of its top managers in place -- they did not create our problems, the market did.
Regardless, the company has a good business plan considering the market reality and when would now be a good time for every union to decide to participate in the new business plan before "imposition" creates even more pain?
Regards,
USA320Pilot
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PITbull said:Jerry Glass
1. Employee morale shattered.
2.Pschological "war games"
3. Union busting?
4. Union busting?
5. Dismantling the work force?
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