Us Airways / America West Merger
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USA320Pilot
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700UW:
Part of the problem in restructuring leases was that the financiers were not going to provide relief if labor did not participate in the reorganization. Prior to bankruptcy I only ALPA and the AFA had an agreement or TA, but when the other unions refused to consensually cooperate the aircraft lese companies were not going to provide relief.
Not only were savings needs from aircraft lessors, but other “key stakeholdersâ€, which included resistant unions.
By the way, what's your opinion of the Charlotte Observer February 7, 2003 interview with David Bronner, the comments made by US Airways' chairman of the board to the newspaper, and the Post-Gazette's comments regarding "Project Minnow"?
Regards,
USA320Pilot
Part of the problem in restructuring leases was that the financiers were not going to provide relief if labor did not participate in the reorganization. Prior to bankruptcy I only ALPA and the AFA had an agreement or TA, but when the other unions refused to consensually cooperate the aircraft lese companies were not going to provide relief.
Not only were savings needs from aircraft lessors, but other “key stakeholdersâ€, which included resistant unions.
By the way, what's your opinion of the Charlotte Observer February 7, 2003 interview with David Bronner, the comments made by US Airways' chairman of the board to the newspaper, and the Post-Gazette's comments regarding "Project Minnow"?
Regards,
USA320Pilot
USA320Pilot
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AAviator:
I heard about the Court Jester, but what does that have to do with the acronym called the UCT/ICT and "Proejct Minnow?"
Could you also give us your opinion of the Charlotte Observer February 7, 2003 interview with David Bronner, the comments made by US Airways' chairman of the board to the newspaper, and the Post-Gazette's comments regarding "Project Minnow"?
Regards,
USA320Pilot
I heard about the Court Jester, but what does that have to do with the acronym called the UCT/ICT and "Proejct Minnow?"
Could you also give us your opinion of the Charlotte Observer February 7, 2003 interview with David Bronner, the comments made by US Airways' chairman of the board to the newspaper, and the Post-Gazette's comments regarding "Project Minnow"?
Regards,
USA320Pilot
USA320Pilot
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700UW:
700UW said: "And I don't believe a word Bronner says, he has no airline experience and his investment in US did more harm them good."
USA320Pilot comments: I find you comments interesting. David Bronner controls a retirement fund that he grew to about $27 billion. I believe that is not to bad and maybe, just maybe he knows something about business, money, and investing. Maybe you could learn something from him instead of your union approach that caused the IAM to provide the company with the greatest percentage increase over the company’s “ask†for any US Airways union.
In regard to RSA's investment, there are reports that TPG may have liquidated US Airways and without Bronner's involvement US Airways may not be flying today.
Regards,
USA320Pilot
700UW said: "And I don't believe a word Bronner says, he has no airline experience and his investment in US did more harm them good."
USA320Pilot comments: I find you comments interesting. David Bronner controls a retirement fund that he grew to about $27 billion. I believe that is not to bad and maybe, just maybe he knows something about business, money, and investing. Maybe you could learn something from him instead of your union approach that caused the IAM to provide the company with the greatest percentage increase over the company’s “ask†for any US Airways union.
In regard to RSA's investment, there are reports that TPG may have liquidated US Airways and without Bronner's involvement US Airways may not be flying today.
Regards,
USA320Pilot
The UCT discussions were started by Stephen Wolf and then moved forward under Dave Siegel prior to US Airways’ first bankruptcy filing. The intent was to use ATSB monies and other financial transactions to fund the deal. US Airways was going to obtain certain United domestic assets so the Chicago-based airline could downsize some of its financial pressure and place some of its employees under US Airways’ new contracts to lower labor costs.
Not credible. The ONLY way it could have been pulled off was with a UAL BK, something they were almost a year from if "Wolfie' had anything to do with it. Those were the provisions of ESOP.
The “Project Minnow†funding was going to be provided by RSA and in four separate interviews David Bronner US Airways’ chairman of the board told the news media he was interested in buying United assets for US Airways.
What's your point. U was then and remains weaker financially than UAL, yet he was interested in 'buying UAL assets'. then again, so were Delta, AMR, NWA, Airtran, and Al down at the local Garage. 🙄
In fact, on February 7, 2003 the Charlotte Observer wrote Bronner speculated that United has a 50-50 chance of surviving a war (Iraqi War). He said that if United were to sell assets, he would consider backing the purchase of some "if it would be beneficial to US Airways."
Oh, so he said he'd buy UAL ASSETS if UAL were to FAIL, AND it would be benefitual to U. Nothing about 'buying United'.
now to the "prenup". Anybody with money is a fool to not demand one before entering a 'marriage' with someone without money. UAL was using funds, of which 27% BELONGED to the UAL pilots to bail U out. UAL never demanded a "staple". they demanded an AGREEMENT. They wanted BOTH sides to BARGAIN and AGREE to the integration. If no agreement could be reached by both sides, then NO DEAL. Explain again how that would be BAD for EITHER side. If UALALPA had refused to offer a deal that would result in the U pilots not at least maintaining career expectations, then no deal and you could continue to enjoy Syracuse. What U wanted was a deal that made you better off at the expense of the UAL guys. U figured you'd do well in court, and if not, you'd run OUR airline into the dirt.
FWIW, I'm willing to bet UAL would have never even suggested that a 99 hire at UAL (who now has a job) with a year seniority go in front of a U 89 hire (who doesn't have a job) with 11 years seniority at the time.
Busdrvir, what's your opinion of the Charlotte Observer interview with David Bronner, the comments made by US Airways' chairman of the board, and the Post-Gazettes comments regarding "Project Minnow"?
I think Bronner is a self absorbed old fool who thought he could do no wrong and wanted the prestige of running an Airline, and subsequently was proven to be a total idiot when it comes to Aviation. has he done well on ANY Airline deal he's been a part of?
Moreover, what's your opinion of United's April Monthly Operating Report during the busy travel season?
Golly gee Beave, I dunno. I see the Cash balance go up by over $100 million. I see unions either still negotiating or voting on deals. I wonder how the vote would go if they suddenly reported a profit for the month? Hmmm.
Not credible. The ONLY way it could have been pulled off was with a UAL BK, something they were almost a year from if "Wolfie' had anything to do with it. Those were the provisions of ESOP.
The “Project Minnow†funding was going to be provided by RSA and in four separate interviews David Bronner US Airways’ chairman of the board told the news media he was interested in buying United assets for US Airways.
What's your point. U was then and remains weaker financially than UAL, yet he was interested in 'buying UAL assets'. then again, so were Delta, AMR, NWA, Airtran, and Al down at the local Garage. 🙄
In fact, on February 7, 2003 the Charlotte Observer wrote Bronner speculated that United has a 50-50 chance of surviving a war (Iraqi War). He said that if United were to sell assets, he would consider backing the purchase of some "if it would be beneficial to US Airways."
Oh, so he said he'd buy UAL ASSETS if UAL were to FAIL, AND it would be benefitual to U. Nothing about 'buying United'.
now to the "prenup". Anybody with money is a fool to not demand one before entering a 'marriage' with someone without money. UAL was using funds, of which 27% BELONGED to the UAL pilots to bail U out. UAL never demanded a "staple". they demanded an AGREEMENT. They wanted BOTH sides to BARGAIN and AGREE to the integration. If no agreement could be reached by both sides, then NO DEAL. Explain again how that would be BAD for EITHER side. If UALALPA had refused to offer a deal that would result in the U pilots not at least maintaining career expectations, then no deal and you could continue to enjoy Syracuse. What U wanted was a deal that made you better off at the expense of the UAL guys. U figured you'd do well in court, and if not, you'd run OUR airline into the dirt.
FWIW, I'm willing to bet UAL would have never even suggested that a 99 hire at UAL (who now has a job) with a year seniority go in front of a U 89 hire (who doesn't have a job) with 11 years seniority at the time.
Busdrvir, what's your opinion of the Charlotte Observer interview with David Bronner, the comments made by US Airways' chairman of the board, and the Post-Gazettes comments regarding "Project Minnow"?
I think Bronner is a self absorbed old fool who thought he could do no wrong and wanted the prestige of running an Airline, and subsequently was proven to be a total idiot when it comes to Aviation. has he done well on ANY Airline deal he's been a part of?
Moreover, what's your opinion of United's April Monthly Operating Report during the busy travel season?
Golly gee Beave, I dunno. I see the Cash balance go up by over $100 million. I see unions either still negotiating or voting on deals. I wonder how the vote would go if they suddenly reported a profit for the month? Hmmm.
USA320Pilot said:
Bleeding cash? Obviously you don't read the press release or the other articles....
From UAL:
"UAL ended April with a cash balance of $2.4 billion, which included $866 million in restricted cash (filing entities only). The cash balance increased $102 million during the month of April, driven by strong receipts and effective cost controls. UAL met the requirements of its debtor-in- possession (DIP) financing"
Well if bleeding means we increased our cash postion by $102 million...bleeding is ok by me. And April, while a decent- month for travel, is NOT the busy travel season. Thats occurring now thru the end of August. It's called Summer.
And with regards to Dr. Bronners comments....those were over two years ago!!! So what! Times change. Heck, Southwest says they are willing to purchase US assests if and or when they become available. Can I keep repeating that for years?
DC
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USA320Pilot said:
Pretty much the same opinion I have about his comments to the media about 'Bama Air - so much hot air.
USA320Pilot said:
There seems to be a couple of historical inaccuricies in that story. Your homework assignment for the night is to find them.
Bronner seems to be on an ego trip when it comes to airlines. One merely has to look at his remarks about his lack of participation in the HP/US financing for evidence....
Jim
320, if I read correctly, Bronner said he was interested in buying "some" assetts, not "UAL". Before you comment re-read your 2:15AM post. Nowhere does it say, or ANY published reports say, that U would or even could buy UAL. Again a monsterous wet dream on your part.
USA320Pilot
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UALDC737:
Airlines book their revenue before a passenger travel and this is referred to as “good willâ€. Revenue obtained for summer travel comes much before the passengers flight, thus much of April’s revenue is for summer travel. Today’s results to not bode well for the future when revenue will drop off. The new recent labor accords will help the Chicago-based company, but rising fuel costs and the inability to post profits do not look good, not only for Untied, but other companies too.
In regard to United’s finances, the company said it lost $124 million in April, citing higher fuel costs and bankruptcy reorganization expenses. The carrier has lost more than $1.3 billion in the first four months of 2005 and $6 billion since entering Chapter 11 bankruptcy in December 2002.
In my opinion, that is why Lakefield rejected United’s recent attempt at another “corporate combination:†with US Airways.
Regards,
USA320Pilot
Airlines book their revenue before a passenger travel and this is referred to as “good willâ€. Revenue obtained for summer travel comes much before the passengers flight, thus much of April’s revenue is for summer travel. Today’s results to not bode well for the future when revenue will drop off. The new recent labor accords will help the Chicago-based company, but rising fuel costs and the inability to post profits do not look good, not only for Untied, but other companies too.
In regard to United’s finances, the company said it lost $124 million in April, citing higher fuel costs and bankruptcy reorganization expenses. The carrier has lost more than $1.3 billion in the first four months of 2005 and $6 billion since entering Chapter 11 bankruptcy in December 2002.
In my opinion, that is why Lakefield rejected United’s recent attempt at another “corporate combination:†with US Airways.
Regards,
USA320Pilot
And don't forget Ole Doc Bronner told US he would invest more money into US when labor gives more concessions.
Gee labor ponied up once again, but Ole Doc Bronner did not. Gee is he not a man of his word?
And look at TPG's history, they don't liquidate they make money, look at CO, HP and Burger King for examples.
Gee labor ponied up once again, but Ole Doc Bronner did not. Gee is he not a man of his word?
And look at TPG's history, they don't liquidate they make money, look at CO, HP and Burger King for examples.
BoeingBoy
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USA320Pilot said:
Since you've mentioned this several times, you might want to take a night class in accounting.....
Good will is an intangible asset (unlike cash).
Perhaps you're confused by the practice of not showing ticket sales revenue as "passenger transportation revenue" until the transportation is provided.
Jim
Airlines book their revenue before a passenger travel and this is referred to as “good willâ€.
Ah, NO. Once again, you're speaking out your arse with little knowledge to back it up. Typically, advance bookings are listed as "Air Traffic Liabilities".
"Good will" is what you book when you buy a company with $1 Billion in assets for $3 Billion. You'd then put $2 Billion in 'Good will" on the balance sheet so the investors won't realize just how stupid the company officers are.
In my opinion, that is why Lakefield rejected United’s recent attempt at another “corporate combination:†with US Airways.
My sources say UAL was never really interested and when they informed Lakefield that they weren't interested, he took the only option that would keep U solvent. It's like a fat chick going to the prom with the pimply faced Tuba player from the Marching Band and then saying she "shunned' the Capt of the Football team who never asked (and never would have....)
Ah, NO. Once again, you're speaking out your arse with little knowledge to back it up. Typically, advance bookings are listed as "Air Traffic Liabilities".
"Good will" is what you book when you buy a company with $1 Billion in assets for $3 Billion. You'd then put $2 Billion in 'Good will" on the balance sheet so the investors won't realize just how stupid the company officers are.
In my opinion, that is why Lakefield rejected United’s recent attempt at another “corporate combination:†with US Airways.
My sources say UAL was never really interested and when they informed Lakefield that they weren't interested, he took the only option that would keep U solvent. It's like a fat chick going to the prom with the pimply faced Tuba player from the Marching Band and then saying she "shunned' the Capt of the Football team who never asked (and never would have....)
