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[BLOCKQUOTE][BR]----------------[BR]On 12/5/2002 11:36:29 PM chipmunn wrote: [BR][BR]DCAFlyer:[BR][BR]DCAflyer said: Even so, by the time a potential merger would happen, U will already be out of restructuring and have its hands on the ATSB guaranteed loan funds, which could go a long way toward funding a merger or corporate transaction. [BR][BR]Chip comments: DCAFlyer, your comment is accurate. Today US' reorganization received a major "shot in the arm" with the new RSA DIP Financing and Equity Investor agreements. In addition, it is expected that US will solve two other major problems, e.g. solving the pension problem and gaining new concessionaire accords with its unions.[BR][BR][STRONG][FONT face="Times New Roman"]Both of which are coming at gun point except for ALPA who is swallowing daves waste.[/FONT][/STRONG][BR][BR]Tonight Rueters reported Bronner was confident US Airways would submit its plan of reorganization to the bankruptcy court within about two weeks. But the airline first needs to secure more concessions and solve issues with its underfunded pension, which it has said will require $3.1 billion in contributions from 2003 to 2009. "I think we're there," Bronner said. "I really think if we can solve ... the pension problem, and we get the work rules changed, we can have our plan in court on or about the 20th of December." [BR][BR][STRONG]"[FONT face="Times New Roman"]What we're trying to do is legally obtain guardianship of the first born children of all US Airways employees so if the employees do not make concessions we can legally sell the children into slavery."[/FONT][/STRONG][BR][BR]After filing its bankruptcy petition UA will have a 120- day exclusive period for filing a Chapter 11 Plan of Reorganization (POR), which would expire in April. I'm sure this will keep Kirkland & Ellis busy during the winter months.[BR][BR]However, one news media report said analysts say UAL will need a large DIP commitment because its time in court is likely to be lengthy. The airline will undoubtedly need wage concessions much more severe than those it has struggled to extract from labor in recent months, and the lost ownership position is likely to leave workers in no mood to negotiate. [BR][BR]With RSA now in control of US board of directors, Rono Dutta a consultant to both RSA and UA, and US planning a March 2003 emergence, US would be in position to buy UA or its assets, if the companies decide to integrate before UA's POR exclusivity period ends. In addition, with the UA ESOP likely to be eliminated along with the UA employees removed from the board of directors, previous impediments to any corporate combination will likely be eliminated in a bankruptcy proceeding. [BR][BR][STRONG][FONT face="Times New Roman" size=3]Tell me chip, exactly how much of UALdo you really think the 800 million from the ATSB can buy?[BR][/FONT][/STRONG][BR][STRONG][FONT face="Times New Roman" size=3]Do you think the other airlines will sit idly by as U cherry picks UAL?[BR][/FONT][/STRONG][BR][STRONG][FONT face="Times New Roman" size=3]AMR, NWAC and Delta may have some ideas of their own regarding UAL assets.Which bythe way I seriously doubt they will sell to us.What WOULD Delta or NWAC pay for LHR access? More than what we'll have from the atsb loan, rest assured.[BR][/FONT][/STRONG][BR][STRONG][FONT face="Times New Roman" size=3]You think AMR wouldnt make a deal with the devil himself if they could get their mitts on the narita operation?I find it hypocritical that we get offended when people try to figure out who gets what when WE sell assets, but here WE sit talking about buying UAL assets?We have a hell of a long road ahead of us(One I aint too sure well see the end of ) and getting involved with any kind of interesting corporate bs with UAL shouldnt even be on the radar right now.[/FONT][/STRONG][BR]Chip ----------------[/BLOCKQUOTE][BR][BR][/BLOCKQUOTE]
56 PM olivia wrote: 
