oldiebutgoody
Veteran
- Aug 23, 2002
- 2,627
- 945
[blockquote]
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On 12/6/2002 12
47 AM enilria wrote:
It's funny that the Republicans are always taking flak for "being in the pocket of big business" and yet somebody is actually claiming they intentionally denied a federal bailout of a company with questionable finances.
I think Ch11 is a much better place for them. As an employee of a rival airline, I don't want my tax dollars propping up a competitor.
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[/blockquote]
As an employee of ANY airline, even the ones less likely to file bankruptcy AT THIS TIME, you should be VERY concerned about the plight of UAL. This will be a drag on the industry for years, and will likely precipitate others into a similar fate as prices are held artificially low by the troubled carriers which have protection from their creditors. This is a TERRIBLE development, even for those of us not employed at UAL. I do admit that this situation was forceable for at least the last month, with the unrealistic demands od UAL's labor groups in the face of such poor economic conditions. I bet that most employees at UAL are STILL in serious denial at what is occurring. For UAL to make it, their cuts will likely be far deeper than those required at U, simply because U has access to the low cost government guaranteed loan and presently UAL does not. If they (UAL) are to have ANY chance at all, they have got to make the hard cuts necessary to get the loan guarantee, since NO company that can offer financing in their right mind wants ANYTHING to do with airlines right now. Without the guarantee any sort of financing will involve outrageous rates and conditions, just due to the risk involved.
These developments have the potential to drive ALL AIRLINE WAGES AND WORKING CONDITIONS right into the toilet, at least as far as the full service, hub and spoke carriers are concerned. These are very trying days, and it looks like worse may be to come. Good luck to all!
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On 12/6/2002 12
47 AM enilria wrote: It's funny that the Republicans are always taking flak for "being in the pocket of big business" and yet somebody is actually claiming they intentionally denied a federal bailout of a company with questionable finances.
I think Ch11 is a much better place for them. As an employee of a rival airline, I don't want my tax dollars propping up a competitor.
----------------
[/blockquote]
As an employee of ANY airline, even the ones less likely to file bankruptcy AT THIS TIME, you should be VERY concerned about the plight of UAL. This will be a drag on the industry for years, and will likely precipitate others into a similar fate as prices are held artificially low by the troubled carriers which have protection from their creditors. This is a TERRIBLE development, even for those of us not employed at UAL. I do admit that this situation was forceable for at least the last month, with the unrealistic demands od UAL's labor groups in the face of such poor economic conditions. I bet that most employees at UAL are STILL in serious denial at what is occurring. For UAL to make it, their cuts will likely be far deeper than those required at U, simply because U has access to the low cost government guaranteed loan and presently UAL does not. If they (UAL) are to have ANY chance at all, they have got to make the hard cuts necessary to get the loan guarantee, since NO company that can offer financing in their right mind wants ANYTHING to do with airlines right now. Without the guarantee any sort of financing will involve outrageous rates and conditions, just due to the risk involved.
These developments have the potential to drive ALL AIRLINE WAGES AND WORKING CONDITIONS right into the toilet, at least as far as the full service, hub and spoke carriers are concerned. These are very trying days, and it looks like worse may be to come. Good luck to all!
18 PM DB Cooper wrote: 
