PullUp
Veteran
- May 22, 2010
- 820
- 736
You must understand that it is a fact that the company survived along with the employees. It is at best highly irrelevant as to why or who saved whom. What is important is who was really pulling the strings and had interests beyond those of the company.The geographical location of the investors is irrelevant All of that money was sitting on the sidelines, not going into US Airways until Parker came along. The fact that people with money had to come in and bail your ass out again shows that any expectations you had just prior to the merger were misguided, at best.
There is and was a lot more going on here than just Parker's or his predecessor's quarterly statements.
Think about ripples and why the govm't bailed out AIG's ass.
The failure and shutdown of the company was not the first choice for anyone with an interest in seeing any investments returned. The major money backers: airframe and engine manufacturers, leasing companies, credit card companies, insurance companies, and anyone else USAirways owed money to didn't want the company to fail.
What employees wanted was irrelevant. Most upper management employees had bolted due to wage cuts and the general 'titanic' mood of the headquarters. Replacement management was needed quickly, money was available, and Parker said OK.
So, did the west pilots have ANY say-so in whether Parker and co. would participate in this merger? I think not.
Have the west pilots done anything to 'save' the east pilots jobs? I think not.
Parker's self interest and desire to instantly grow his operation to become a bigger player in this industry drove the whole thing.
Now, he's connected with big east money, is becoming more respectable for turning a profit (albeit on the backs of his employees), and can be counted on to be a survivor in any future merge here.
Wall street offered Parker admission to the bigtime, to be a major player - all the while saving some other big companies' asses in the process.
It's all about the $$$ - that's the only reason anyone is employed at LCC.
Have a great day.