US Airways CEO: We don’t have to merge, but maybe it makes senseRead more here: http://www.charlotte

[Beancounter]

As far as the choice of what name to retain, I don't think that America West would have been very well recognized when it came to the European routes. It was more of a regional carrier name, as was US Air when Wolfe and company opted for the name change

I can't remember the number, but someone in management threw out a number for what it would save to use US Airways over America West and this didn't even take into account the value of brand recognition you just mentioned. The dollar number was significant on it's own.

I know what you mean about the America West brand. Some friends from Seattle were down visiting in Phoenix and they commented on all the AWA aircraft at the airport. I responded that America West was actually larger than Alaska Airlines, they responded with a shocked look, they had no idea.

 

[nycbusdriver]

Embarrassment? When I hear you guys say "Cactus" it just rolls right off your lips. You sound like you've figured it out.

Listen closely.

We're saying "Cat Piss."

 

[Beancounter]

Listen closely.

We're saying "Cat Piss."

How's it taste?

 

[Move2CLT]

Listen closely.

We're saying "Cat Piss."

No, you're not.

 

[Move2CLT]

How's it taste?

LMAO!

Well played.

 

[767one]

Listen closely.

We're saying "Cat Piss."

Uh, catguts

 

[necigrad]

http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1odHRwOi8vaXIuaW50Lndlc3RsYXdidXNpbmVzcy5jb20vZG9jdW1lbnQvdjEvMDAwMDk1MDEyNC0wNi0wMDEyMDAvZG9jL1VTQWlyd2F5c18xMEtfMjAwNjAzMTUucGRmJnR5cGU9MiZmbj1VU0FpcndheXNfMTBLXzIwMDYwMzE1LnBkZg==

Page 100 reads in part:

...the merger has been accounted for as a reverse acquisition such that America West Holdings has been treated as the accounting acquirer."

I don't even pretend to understand what that means, and I encourage that you read the section yourself before commenting as I've cut out quite a bit, and that bit may or may not be relevant.

 

[BoeingBoy]

I'm certainly no accountant, but as I understand it US had some quite large losses that it was able to carry over from year to year and offset federal taxes. When a company is in bankruptcy, my limited understanding is that keeping those NOL's (Net Operating Losses) is usually not allowed - they disappear with the bankruptcy. It is advantageous in future years to keep those NOL's so it can affect how the deal is structured for accounting purposes - US still pays little/no federal tax on net income because those NOL's are still being used (some states don't allow NOL's too be used to reduce future taxes so US does pay some state tax in profitable years).

There's also the east pilot's change of control language - if a change of control had happened with the merger the east pilot payroll bill would have increased significantly (close to 50%). As I said earlier, that was the primary reason the corporate merger was structured so that AWH would be a subsidiary of US Group.

As for definitions, a "reverse acquisition" is merely "An acquisition in which the company taken over becomes the surviving entity." IOW, company A is taken over by company B but company A is the surviving corporate entity.

The key to what you quoted, which has been quoted a lot by westies, is that little "has been treated as the accounting acquirer." I would guess that a company could be "treated as the accounting acquirer" while at the same time the other company was the actual acquirer. Not the case with the US/HP merger - US didn't have the money, credit, or stock to acquire another E170, much less AWH - but in general. Maybe FWAAA will come around and explain it to us all.

Jim

 

[necigrad]

Yeah, that's why I encouraged reading the entire thing. It's harder to comprehend then a legal document, especially when you have zero knowledge of accounting, unless accounting is a counting of the bills in my wallet.

 

[HPearlyretiree]

That's funny sealbeater. You were in bankruptcy with one foot in liquidation and you make fun of AWA.

And that AWA CEO has managed to keep you guys in check this whole time and under bankruptcy wages.

Now that's funny.

Now now...the easties still can't understand what its like to work for an airline that makes money, its an alien concept for them. Don't you know how much they suffered? Just ask them...(hope you have 5 hours of free time...)

 

[BoeingBoy]

Actually, per your own serial drunk, AWA had one foot in the grave (30 days) and US would have just remained in bankruptcy. I don't think he was drunk when he said that.

I will always make fun of those who are "all hat and no cattle". Seems a feature of Mesa Grande.

As for your "all hat and no cattle"....I've asked before and you've still to provide anything to back up that statement Parker supposedly made (according to only you) - it's just been silence. Personally, I don't know if your memory is just wired backwards or you're just saying whatever fits your argument, but I've watched every presentation Parker/Kirby have given since the merger and haven't seen either of them say those words anywhere/anytime.

So how about a citation to back up your claim...

 

[cynic]

Actually, per your own serial drunk, AWA had one foot in the grave (30 days) and US would have just remained in bankruptcy. I don't think he was drunk when he said that.

I will always make fun of those who are "all hat and no cattle". Seems a feature of Mesa Grande.

You must be the one drinking because that was not the case and that was never said. US was nigh onto liquidation and AWA might have had to file bankruptcy according to Parker and others.

 

[HPearlyretiree]

Actually, per your own serial drunk, AWA had one foot in the grave (30 days) and US would have just remained in bankruptcy. I don't think he was drunk when he said that.

I will always make fun of those who are "all hat and no cattle". Seems a feature of Mesa Grande.

Where to start? Ah, 30 days to liquidation...so..where is the proof? And the same old Doug is a drunk meme, I find its used by feeble minded posters (such as you, and Sparrowhawk), when they realize they have no argument, and have to resurrect the same old canard, which has nothing to do with the subject.

Parker owns you...get over it. He took over a moribund, pathetic scrap pile of an airline and turned it into a profit maker, even with all the entitlement queens back east that want nothing more than to kill the hand that feeds them.

Keep yammering, you are a perfect example of the dead weight that needs to be excised to make the airline even better.

 

[fatherabraham]

All,
Why does above BK topic deserve so much of your attention?

Is it not obvious that going thru BK has become standard business practice in certain industries in last 15 years.
IMO, total BS to entertain the notion that most all major airline employees should just accept " starting over as a new hire " in seniority issues throughout adulthood over this relatively new competitive business model.

Folks, we are the grunts and losing badly to Mgt today. Our country has a long history of union battles that used to pay us dividends.
We have collectively become quite lazy in maintaining status quo let alone progress in this new economy.
Meanwhile white collar has gained much larger piece of pie while setting up such seniority issues and bemoaning all with a strait face.
White collar sets up these labour " no win scenarios " and we are suckers for engaging .
Seen the movies......read the books ( ie hungar games ) .
Could we stop fighting each other and focus on the ENEMY?

FA

 

[MUTATIS MUTANDIS]

Where to start? Ah, 30 days to liquidation...so..where is the proof? And the same old Doug is a drunk meme, I find its used by feeble minded posters (such as you, and Sparrowhawk), when they realize they have no argument, and have to resurrect the same old canard, which has nothing to do with the subject.

Parker owns you...get over it. He took over a moribund, pathetic scrap pile of an airline and turned it into a profit maker, even with all the entitlement queens back east that want nothing more than to kill the hand that feeds them.

Keep yammering, you are a perfect example of the dead weight that needs to be excised to make the airline even better.

Let us get it straight, 2bill in NOL(NET OPERATING LOSS) and 4billion in debt,yea right and your either ex- enron or AWA one or the other, DUI will take the tax NOL 2012 full write off!, would have worked years ago but real airlines, JBLU, AK, LUV, will not let a merger or the AA market share slip by, in reality, maybe 4years to fragmentation! DUI DOUG the spin artist but a less than credible mngmnt team!