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Then you explain why the dynamic duo of Lakefield/Luth were unable to raise purely investment money from Feb till after the merger announcement if standalone US was such a terrific investment opportunity.....
Jim
Then you explain why the dynamic duo of Lakefield/Luth were unable to raise purely investment money from Feb till .......
Jim
Of course not - most corporate transactions happen behind the scenes before they ever see the light of day.(Do you really think everything transpires in the media?)
Those two individuals were probably 737 F/Os. The guy from the west came from the company that was not bankrupt.
As a practical matter, his 16 years would only get him an F/O slot on the smallest equipment with a twice bankrupt airline. The guy hired new at HP could hold the same equipment with his two months at (what was then) a growing airline with decent financials.
It's logical, just not to most of the East pilots (who, thru no fault of their own, picked the wrong horse over the years).
Where the East pilots got jacked was not capturing the east attrition. I believe (having read the decision) that had the East group not insisted upon DOH (or LOS, it's functionally the same thing) that they would have captured that attrition.
But to suggest that the situation is not logical because a 16 year guy is placed near (or even below) a 2 month guy completely ignores the fact that the 16 year old guy had, to be quite frank, picked the weaker (and bankrupt) airline.
In the real world, this is how things generally work (a measurement of the worth of someone's years of service in terms of the health of the company they work for).
Clue,
Here is the issue I think you missed...
Yes, east pilots along with east employees are employed with a twice bankrupt airline, unlike the west. However, the majority of the NET profit of $306 million made in 2006 came from the East operation. Reason being is that twice bankrupt east operation of the company positioned the company for a great 2006 year. Regardless whether U merged or not, the company was in a position to profit above most legacies specifically in light that a couple of carriers were still in BK trying to clear their balance sheet of 90's leases and labor contracts along with pension dumping. U east operation was healthy as hell going into 2006. Bankrupcy was just a legal strategy to get the company in a "healthy" position. BK was used as their ticket out of bad business plans and no accountability to anyone.
With the sacrifices made specifically from the east pilot group, there would have been no huge profits in 2006 for senior management and new investors to capitalize within 10 months of their initial investment, specifically senior execs who became instant millionaires.
Not bad for 10 months out of bk. I don't believe that west senior management would have made millions in stock if they stayed AWA and no merger....do you?
Nah, don't agree with the award. There was a lunatic IMO who handed down the decision.
This is about a crappy situation where the East folks picked the wrong place to hang their hat over the years. That's unfortunate.
Clue,
Here is the issue I think you missed...
Yes, east pilots along with east employees are employed with a twice bankrupt airline, unlike the west. However, the majority of the NET profit of $306 million made in 2006 came from the East operation. Reason being is that twice bankrupt east operation of the company positioned the company for a great 2006 year. Regardless whether U merged or not, the company was in a position to profit above most legacies specifically in light that a couple of carriers were still in BK trying to clear their balance sheet of 90's leases and labor contracts along with pension dumping. U east operation was healthy as hell going into 2006. Bankrupcy was just a legal strategy to get the company in a "healthy" position. BK was used as their ticket out of bad business plans and no accountability to anyone.
HP has had only 1 BK, not 2 or 3.
Jim
Junebug172:
Lemme guess, you are a 2005 hire, got awarded a decent seniority and are grasping for more. What cracks me up is punks like you who think you deserve this!
How long do you think your airline would have lasted without this merger? You guys seem to forget quickly that Parker was quoted as saying that AWA was dying and needed this to survive. How you junior folks just don't get it!
Hey MORON, because without us, you were TOAST!
Now shut up and get back to your local fbo!
It seems that some want to compare "financial health" by the use of "bk". I just wanted to point out that the apparent assumptions about bk need to be examined rather than just blithly assuming all bks are the same, at least if one is trying to make a financial point.