Proposed Merger News

[usa1]

United and US Airways in 2001 went this far (maybe beyond) and was scuttled by the DOJ.

Yeah, and cost me dearly in my ESOP (retirement).

 

[gabby]

I guess we will all know when it's a done deal.....
Just look for a 3rd DUI on someone's record.

 

[usa1]

If he sets it up so AMR is the survivor .. I'll buy the first round! I'll even agree to be his designated driver for a week of partying! .

 

[nycbusdriver]

Yeah, and cost me dearly in my ESOP (retirement).

Welcome to the club!

 

[Phoenix]

The UCT (for those of you not fluent in Chip-speak, UCT is the Unique Corporate Transaction...his favorite byword of the time) of United and US Airways in 2001 went this far (maybe beyond) and was scuttled by the DOJ. But I think UAL had buyer's remorse and was grateful to have the DOJ stop the deal. (Or did they grease the skids?)

You are correct it went farther, or further if you prefer . UAL announced they were buying U stock at $60 dollars a pop... and yes I also think you are correct that they got buyers remorse when the economy tanked after their purchase announcement... and they in all likelihood were camping out at the doorsteps of the DOJ begging to have the merger denied to save their bacon, while at the same time they were giving the public stance that all engines were full steam ahead to make the merger a reality. IMHO. YMMV.

 

[usa1]

You are correct it went farther, or further if you prefer . UAL announced they were buying U stock at $60 dollars a pop... and yes I also think you are correct that they got buyers remorse when the economy tanked after their purchase announcement... and they in all likelihood were camping out at the doorsteps of the DOJ begging to have the merger denied to save their bacon, while at the same time they were giving the public stance that all engines were full steam ahead to make the merger a reality. IMHO. YMMV.

James Oberstar (D-Minn.) took care of his Northwest Airline family and by doing so sent every single United / US Air pension to the PBGC.

I would love to know if he held any NW stock when Delta came along?

 

[wings396]

In a way, it was a good thing that the UA deal didn't happen at that time. I can only imagine what a financial disaster it would have been with 9/11 factored into the mix.

 

[LD3]

James Oberstar (D-Minn.) took care of his Northwest Airline family and by doing so sent every single United / US Air pension to the PBGC.

I would love to know if he held any NW stock when Delta came along?

Me thinks there may be a long winded reply coming soon from you know who....

 

[usa1]

Let me guess .... WT!

 

[700UW]

http://www.charlotteobserver.com/2012/12/20/3739012/jan-9-may-be-key-in-airline-merger.html

 

[usa1]

The chief unresolved issues pending with AMR’s unsecured creditors committee, which must approve any exit plan, are how to divide the equity in a new company and who would run it, three people said.

When they say 'new company" I hope they mean it.

 

[zethya]

Quote
The chief unresolved issues pending with AMR’s unsecured creditors committee, which must approve any exit plan, are how to divide the equity in a new company and who would run it, three people said.

When they say 'new company" I hope they mean it.

I read somewhere that the scheme being tossed around is for Parker to become CEO and Norton to become COB.

 

[usa1]

AMR, parent of American Airlines Inc., reported a net loss of $347 million in November, including $301 million that it attributed to expenses from its bankruptcy reorganization.

http://aviationblog.dallasnews.com/2012/12/amr-loses-347-million-in-november-or-46-million-excluding-bankruptcy-related-expenses.html/

 

[usa1]

AMR Union Says Lack of Accord May Threaten Merger in Bankruptcy

http://www.bloomberg.com/news/2012-12-28/amr-union-says-lack-of-accord-may-threaten-merger-in-bankruptcy.html

 

[usa1]

Merger ... but on who's terms?

http://aviationblog....le-merger.html/

Make no mistake—a merger of some sort is inevitable. The questions before us: Who do you want at the helm and do you want the ability to have some[background=yellow]control[/background] over the process? In a post-bankruptcy merger, we would have little ability to influence any potential leadership changes at American Airlines and would represent nothing more than a speed bump.