Us Airways Said To Be Pursuing Big Asset Sales

[JFK777]

ua767fo,

How did TWA sell an ORD hub to AA. TWA never had an ORD hub, they sold an ORD to LHR route to AA. TWA later sold a BOS, LAX and JFK to LHR to AA, since DAL took the Mia to LGW route from Pan Am AA got MIA - LHR as an extra free dividend( what a deal Crandall pulled , people at Pan Am were furious to hand this gem for free to AA).

 

[PITbull]

AOG,

I believe their plan was always to pull out of PIT. They only want a few gates for MDA operation, until it expands. I believe there will always be some sort of presence in PIT, but grossly reduced, with "mainline" gone. PA Delegation pretty much expects this as well. I don't believe the "talks" are as agressive as some might want us to believe.

I believe this PIT plan was in the works all along. NO surprise there. However the "shuttle", I think is a "ploy" to convey to labor (without words) that they are serious.

 

[MarkMyWords]

Can anyone explain to me why the unions won't go to the table to at least hear the plan. I realize we have all made tremendous sacrifices already, but why not go hear things out. Doesn't mean you have to agree to anything since everyone has signed contracts until 2009.

As for Dave.....again it is disappointing to see that he has changed to a bigger bat to beat his people up with. :angry:

 

[oldiebutgoody]

Why would anybody pay ANYTHING for ANY of UAIR's hubs? You know that these airports have got to be actively looking for a replacement to UAIR even as we speak. All any company would have to do is approach the airport management and they'd be there. So, why buy anything? I could see the shuttle being worth something, depending on what assets go with it, but you can be sure it wouldn't pay off the 900 million dollar loan, let alone get anything for Bronner. UAIR HAS NOTHING TO SELL, that's the sad truth. They either make this work, or they close the doors. :angry:

 

[flyin2low]

They should be selling more TICKETS......... 😛

 

[USA320Pilot]

PITBull:

PITBull said: "I believe this PIT plan was in the works all along. NO surprise there. However the "shuttle" I think is a "ploy" to convey to labor (without words) that they are serious."

Chip comments: You are correct because there is a plan to move about 23 mainline aircraft + the 60 new Airbus jets westward, with about 200 flights per day flown out of a couple of westward cities. In addition, I agree that the comment to sell the Shuttle or a hub is to get labor's attention, which it has.

In his recorded weekly message on Tuesday, Dave Siegel also said "he would spend the next few weeks analyzing the company's financial alternatives and thinking about how it can meet its financial commitments without the cooperation of labor groups."

That message was purposely placed into his written comments on the recorded message, but the issue is Brooner and his 51% voting power will not see his investment go into bankruptcy where he will become just another creditor. He can't because he has a fiduciary responsibility to his retirement fund.

Therefore, the company leaked to the New York Times "As a result, the airline is considering selling assets, those briefed on the plans said. Among them are its shuttle serving Boston, Washington and New York, which operates out of La Guardia Airport; additional gates at La Guardia and Logan Airport in Boston; its regional operation, US Airways Express; and a hub, either Pittsburgh, Philadelphia or Charlotte."

Today Bill Pollock was quoted in the Post-Gazette the pilots recognize that a new plan may be needed. Well, Bronner has made it clear Siegel and his team is not leaving so the unions have a choice: See the plan, negotiate acceptable work rules changes in exchange for the 60 new A320s, and move on or liquidate and die.

Bronner holds all of the cards and he really does not care what we think -- it's all about money and his 51% voting control.

Respectfully,

Chip

 

[PITbull]

Can anyone explain to me why the unions won't go to the table to at least hear the plan. I realize we have all made tremendous sacrifices already, but why not go hear things out. Doesn't mean you have to agree to anything since everyone has signed contracts until 2009.

As for Dave.....again it is disappointing to see that he has changed to a bigger bat to beat his people up with. :angry:

MMW,

This is not about labor leaders. Dave needs to present the plan to the employees in a letter as he has done time and time again. He is in no position to demand anything; but rather to ask what we as labor are willing to do if anything. Or what piece we can participate in.

He has to stop parading around that he is trying to save an airline. He hasn't saved anything yet, inspite of an improving economy. Labor has helped this airline survive thus far. Mangement has spent their time developing policies that only fill the grievance arenas and the courts in order to steal even more from employees. They have not focused on the customer and the traveler has chosen other airlines to fly.

This team MUST CREATE THE DEMAND FOR OUR PRODUCT.

He has had every "advantage" to turn this airline around, but obviously, that has not occured.

Restoration of "faith" is critical. He needs to find credible ways to mend the fences.

I'll be back late tonight, I have to leave now.

 

[FLYAWAY]

Sit back, watch and wait. Don't shoot at everything that moves. There's more to this story than we know. Why react on a thread of information when the true picture isn't available yet? I see this "communication"as a positive move as now we should see more of the "real" plan and the "real" response from our union. From the language of the opening shots, this should be very entertaining. One thing to remember....we are a publicly traded company and the rules wich applied during ch.11 are no longer in place. The BOD has a fuduciary responsibility to the shareholders. They can no longer act and make decisions with impunity

 

[MarkMyWords]

Isn't Dave trying to present the plan to employees through their unions? If the unions are unwilling to come to the table to talk, then how does the plan get presented?

 

[USAirBoyA330]

If DAVE really wanted his plan out on the street he would be planning road shows and mailing letters to our home. Bypass the unions .....it's not a rule that you must go through them. Makes me think he has NO PLAN.

 

[DCAflyer]

Chip said:

...but the issue is Brooner and his 51% voting power will not see his investment go into bankruptcy where he will become just another creditor. He can't because he has a fiduciary responsibility to his retirement fund


DCAflyer observes:

Chip, interestingly, as a board member, he also has a fiduciary duty to the investors of UAIR. I wonder if this potential (and now seemingly mounting) conflict of interest has Dr. B beginning to feel that he's painted himself into a corner. Unless I'm wrong, all of UAIR's debt burden to RSA was converted to a superior-class stock, which puts the system's placement for payback below creditors and above general-class stockholders. This could get really ugly. It couldn't have happened to a nicer guy!

 

[AOG-N-IT]

Isn't Dave trying to present the plan to employees through their unions? If the unions are unwilling to come to the table to talk, then how does the plan get presented?

MMW,

He can distribute his Plan via the HUB...or yet another blanket mailing....or if he had some real gonads? He would be doing what he should be doing by going on the road with his message.

I think the latter is out of the question....cuz I for one do not believe he can take the heat he's created in his own kitchen. The trail of lies he would be forced to contend with answering about , would far over-shadow any attempt at delivering a new plan in some respects....if nothing else a tele-conference message from CCY to an at work captive audience that's interested in listening might work too?


This business of "They won't play with me mommy" stuff is pure garbage....and it's making him look like a fool.

 

[DCAflyer]

MMW said: He can distribute his Plan via the HUB...or yet another blanket mailing....or if he had some real gonads? He would be doing what he should be doing by going on the road with his message.


DCAflyer replies: Just stick Rakesh's video from two years ago back in the VCR. That should summarize things pretty accurately.

 

[USA320Pilot]

Today's news is not much different than what happend at United during Stephen Wolf's tenure. When seeking to sell the airline to the employees, he threatened to sell the flight kitchens, the training center and split the airline into four divisions and sell each division.

When labor did not budge he sold the flight kitchens and then sold off Air Wisconsin, to prove his point about selling the airline.

Bronner and Siegel hold all of the cards. Either the unions negotiate the work rule changes desired and the company commits to adding 60 new A320s or I expect management to sell assets and furlough many more employees.

Bronner holds 51% of the cards.

Respectfully,

Chip

 

[PITbull]

Isn't Dave trying to present the plan to the employees through their unions? If the unions are unwilling to come to the table to talk, then how does the plan get presented?

The "Business Plans' have never been presented by the unions. The union leaders are members as well and only act as the "voice of the members". The plan must be presented to the members first. A +B = C.

Dave is looking for the leadership to endorse and promote his paln. That is not the leadership's role.