Stockholders Meeting in PHL Today ?

[beachboy]

An the $200,000 question is......DRUM ROLL. Where was our AFA represenatives? Anyone? We know CWA showed up and voiced thier opinion. But no AFA? How can this be? h34r:

 

[BoeingBoy]

"I would note that today (DL's) Equity is trading at something less than $8B, well less than what we offered...."

Since LCC stock is basically at 30 and was near 60...does that put our equity at 50% of what it was 2 months ago? Must be more to equity that just the stock price.

The raised US offer was for $5 Billion in cash and 89.5 million shares of stock worth $2.9 Billion at today's close - so worth $7.9 Billion this afternoon.

Yes, however, US has 3B in Cash.

Actually, $2.538 Billion according to the quarterly report. Delta reported $3.929 Billion in their quarterly report.

Jim

 

[PHL]

EWWWWWW, they had the meeting at the Radisson Warwick--how LCC indeed--they should have just had it at the Holiday Inn Express on 13th and Walnut....

The Warwick is actually a pretty nice hotel. I have fond memories of the once very hot Philadelphia club "Polo Bay" there, too. But that dates me back to the late 80's/early 90's.

 

[singh4us]

Here is the working link to the article...

Just more lip service from Doug anyway..........

http://www.philly.com/philly/business/home...tem_change.html

<<< Link not stable, article below:>>>


Tue, May. 15, 2007

US Airways CEO apologizes for botching computer system change

By Tom Belden

INQUIRER STAFF WRITER


US Airways chief executive Doug Parker apologized to shareholders and employees today for management botching the airline's switch to a new computer reservations-and-ticketing system earlier this year.
Parker, speaking in Philadelphia at the company's annual meeting, repeated other recent public statements he's made, acknowledging that the company had not made sure the new system would work properly before launching it March 4.

Those problems and winter storms resulted in US Airways and its Philadelphia International Airport hub having the nation's worst record for on-time performance and customer service in March, according to records kept by the U.S. Department of Transportation.

The move to the new system "was poorly managed by us," Parker said in answer to pointed quuestions from two leaders of the Communications Workers of America, which represents ticket and gate agents. "It was not employees' fault."

John Hanson, president of the CWA local for New Jersey, New York and New England, told the CEO that even when the new system is functioning, it can take 10 to 15 minutes to rebook a passenger who has missed a connection, a job that once took one to three minutes. The "reservations migration," as airline workers call it, "set us back 10 years," Hanson said.

Parker said fixing the glitches that still infect the system is being done with input from front-line employees. "We can't talk to each other enough," he said. "I hear your frustration."

Dennis Eichfeld, executive vice president of CWA's Philadelphia local, asked if the 1,000 additional airport workers US Airways says it will hire here this summer will be enough to handle the usual summer-vacation surge in customers. Staffing for the airport's international operations hasn't been increased adequately to handle the 19 daily European flights the airline has scheduled this summer, he said.

Parker replied that the extra employees are needed throughout the airport but that he would look into the needs of the international operations.

The meeting, at the Radisson Warwick Hotel in Center City, drew a sparse group of about 20, most of them company officials or employees.

http://www.philly.com/philly/business/breaking/7514012.html

 

[US1YFARE]

The Warwick is actually a pretty nice hotel. I have fond memories of the once very hot Philadelphia club "Polo Bay" there, too. But that dates me back to the late 80's/early 90's.

Of couse, that hotel is/was a landmark, but have you been there lately? The Prime Rib is a good steakhouse, but the hotel and its facilities are an absolute mess and disgusting. One good thing is that I think they may have finally cleared the hustlers out of the men's bathroom.

 

[zethya]

...Actually, $2.538 Billion according to the quarterly report. Delta reported $3.929 Billion in their quarterly report.

Jim

At the end of Q107, the Company had approximately $3.3 billion in total cash, of which $2.5 billion was unrestricted.

 

[philly rocks]

The grim reaper outside was terri graf.

 

[LGA777]

Did they hand out Sheraton Four Points pie?

Thanks US1YFARE, I needed that, funniest thing I have read all day !

I have never been to a US or any other companies stockholders meeting before but I was thinking attendance at these things was in the hundreds, or at least 100, but 20 ? Anyone with prior experiance know what a normal meeting attendance has been ?

Thanks

LGA777

 

[ussnark]

"I would note that today (DL's) Equity is trading at something less than $8B, well less than what we offered...."


Maybe someone a little more savvy (Boeing Boy!) could answer this....Since LCC stock is basically at 30 and was near 60...does that put our equity at 50% of what it was 2 months ago? Must be more to equity that just the stock price.

Thanks in advance,

Greeter

Sigh, you will always live with cheap things. It is in your nature, that you would be that silly to think stock constitutes equity.

If you are able to ever vote, please recuse yourself.

 

[ClueByFour]

At the end of Q107, the Company had approximately $3.3 billion in total cash, of which $2.5 billion was unrestricted.

Restricted cash has roughly the same utility as a poodle encased in a block of lucite.

 

[BajaBabe]

Kudos to the Special Police Force that watched over the Grim Reaper. Very professional

 

[kao]

The grim reaper outside was terri graf.

wish I could have caught up with you a I was in and out of PHL 2 x yesterday....aslo JHanson...how did the meeting /town hall go?

 

[700UW]

Remember the CWA and AFA are one union now.

 

[philly rocks]

No, incorrect. CWA customer service IBT/CWA Passenger Service Association is a seperate group from the CWA /AFA. Different totally !
They support each other but two seperate entities.

 

[700UW]

The CWA and AFA Merged, the CWA is letting the AFA operate independant.

Association of Flights Attendants Joins CWA

Association of Flights Attendants Joins CWA
WASHINGTON, DC –Members of the Association of Flight Attendants, AFL-CIO, voted to join forces with the Communications Workers of America, AFL-CIO, in a historic vote that was counted today.

Fifty-seven percent of those who cast valid ballots voted for the merger. Forty-seven percent of AFA's membership voted.

"Our members have made their voices heard and decided that our union should tap into the strength and resources that CWA and its 700,000 members offered to us in this merger," said AFA International President Patricia Friend. "Through this partnership we will be better positioned to fight on behalf of flight attendants and our issues in the increasingly hostile airline industry.

"Today is a proud day in our union's history. We begin a new chapter of AFA, one that is marked with opportunities that were not available to us as a single-craft union. The merger will allow AFA to retain our identity, autonomy, structure and ability to control the agenda in fighting on behalf of flight attendants, but with the added strength of over 700,000 workers on our side."

The merger will be effective Dec. 31, 2003.

AFA began as the Air Line Stewardesses Association in 1945. The union was affiliated with the Air Line Pilots Association as the Steward and Stewardess Division from 1960 until 1973, when the modern AFA was born. In 1984, the AFL-CIO issued AFA its own charter. AFA is known today for its innovative campaigns on behalf of flight attendants. The union first developed and implemented its trademarked CHAOS – Create Havoc Around Our System – strike campaign in 1993 at Alaska Airlines.

AFA has lost over 10,000 member flight attendants over the past two years. Flight attendants at many carriers have been forced to take painful cuts as their airlines navigate the bankruptcy process or teeter on the verge of insolvency because of the massive restructuring in the airline industry set off by the Sept. 11 terrorist attacks.

In October, delegates to the Association of Flight Attendants' 30th annual Board of Directors meeting in Boston voted overwhelmingly to endorse a merger agreement with the Communications Workers of America, AFL-CIO, and to send the final decision on whether or not to merge to a membership vote.

Over 36,000 flight attendants at 26 carriers join together to form AFA, the largest flight attendant union in the world. Association of Flight Attendants