UA Works To Extend November Debt Payment

[NewHampshire Black Bears]

UAL777flyer;
It's been a while since I posted anything on this UA board, but as the (unofficial) godfather of this board (UAL777flyer), I wanted to make a few observations, if I may.
(Caution, my observations, and $3-4 will buy you a cold one, in most joints)
I feel VERY strongly that UAL will NEVER see the inside of a BK courtroom, due to the fact that ALL the employee/owners of this great airline, will, in the eleventh hour, re-organize from WITHIN ! That also includes reaching agreements with UA's (fast approaching) debt payments(Debtors)

I don't really have a feel(one way or another) on the ATSB $$ Loan ??

Good luck ! The next few weeks (IMHO) will bear out my predictions.

NH/BB's
AA/AFL-CIO

ps.
Have you noticed that GWB's Iraq war effort is becoming more watered down every day. I also predict that NOT one bomb will not be dropped on Bagdad.(that's not saying that we should'nt, only that WE WONT.

I guess ol' Yogi Berra was right, It ain't over till It's over !!!(and you know what ??, IT AIN'T OVER)

 

[UAL777flyer]

NHBB,

Well, let's keep in mind that it will take the AFA the longest of any UA group to have a ratification process. This is because they've held NO roadshows whatsoever since they've been negotiating with the company. So it will take time to inform their members about the package they eventually agree to. You can figure about a 30 day ratification process. Glenn Tilton has apparently said that we need ironclad ratifications from all unions and the ATSB loan no later than about Dec 1st. That means that T/A's must be reached by about mid-week. More than likely, if we're lucky enough to get an ATSB loan, it will be conditioned upon ratification by all groups. It looks more and more like the company has been successful in getting an extension to the Nov 17th debt payment. But this one will probably go down to the wire. Of course, if the ATSB balks, we'll be headed for Ch.11 no matter what the unions agree to.

As for another War with Iraq, GWB said on his trip to Mexico that either the UN passes a strong resolution for Iraqi disarmament, or the U.S. will use military force. They're itching to go to war with Iraq. And when you consider the milk toast actions from the UN in the past, I'm not too optimistic they'll issue a resolution to GWB's liking. I still think we're headed for another war there no later than about mid-January. I hope I'm wrong cause it will devastate this industry beyond what we've seen up until now.

 

[motnot]

First, the idea that NW and AA had anything to do with an editorial from the Chicago Tribune is beyond ludicrous.

Second, many informed people believe that UAL's ATSB plan appears to fall short of what is needed to really fix the company.

Third, the notion that the unions will rally and save UAL at the last minute is naive. This is the last minute, and nothing is happening.

http://biz.yahoo.com/ap/021027/united_labor_1.html

 

[mancityfan]

[blockquote]
----------------
On 10/28/2002 12:18:20 AM motnot wrote:

First, the idea that NW and AA had anything to do with an editorial from the Chicago Tribune is beyond ludicrous.

Second, many informed people believe that UAL's ATSB plan appears to fall short of what is needed to really fix the company.

Third, the notion that the unions will rally and save UAL at the last minute is naive. This is the last minute, and nothing is happening.

http://biz.yahoo.com/ap/021027/united_labor_1.html
----------------
[/blockquote]


First, I agree that direct action is ludicrous, but indirect???

Second, I find it fascinating that the company thought the LAST deal was good enough and this one is about three times bigger, but the ATSB seems to know more about the airline industry than the people who do this day in and day out? Perhaps we should have hired a few of the guys on the ATSB to run the airline if they are so omniscient!

Third, just because the water is smooth and the duck looks composed, does not mean he is not paddling like hades under the surface. Timing and the coming together of the deals' is crucial. To say that nothing is happening is to completely discount everything Tilton said in his OpEd piece. There is LOTS going on, and much of it is bubbling under the surface ready to boil over. I think this has been recognized by some on Wall Street and has led to UAL stock getting a nice bounce of its lows. BTW, there is LOTS of upside still to come if you fancy aflutter! Anyhow, this coming week will be a scary one, and not just because the neighborhood teenagers will all be wearing ghoulish masks! Hold onto you wallet!

mancityfan

 

[UAL777flyer]

mancityfan,

Good post as always. Your last comment was on the money, in my opinion. Strap yourself in, folks. The next few weeks promises to be one heck of a ride!