Would employees be interested in buying the airline

[texflyer]

With AA stock hovering at incredible lows, I believe the company can be bought for less than a billion dollars. Would the unions.........errr......the employees be interested in buying the company? Control your own destiny.

Keeping in mind that UAL employees tried the same a decade ago,and we know how that turned out.

 

[wrencher]

With AA stock hovering at incredible lows, I believe the company can be bought for less than a billion dollars. Would the unions.........errr......the employees be interested in buying the company? Control your own destiny.

Keeping in mind that UAL employees tried the same a decade ago,and we know how that turned out.

not as long as the TWU is involved

 

[Flying low]

How many employee owned companies out have survived and succeeded?

 

[Veritas]

Keeping in mind that UAL employees tried the same a decade ago,and we know how that turned out.

So did the TWA employees. Just look at what happened to them.

 

[TIME FOR CHANGE]

Never work never has never will...

 

[xUT]

Sorry, but I have to laugh.
Will not work on 'many' levels.
UA is the poster child for ESOP failures, USAir is probably #2.
B) xUT

 

[texflyer]

Sorry, but I have to laugh.
Will not work on 'many' levels.
UA is the poster child for ESOP failures, USAir is probably #2.
B) xUT

Laugh if you want, but given the choice of having Doug Parker as CEO (which is a certainty if AA goes BK) or running show, I would pick running the show.......

I have been lurking here for a while, I remember when this board was under a different name back in 2003 and the heated discussions about saving the company from BK then. I get the anger, I get the mistrust of management,I get those who remember what AA stood for under AA (remember the glory years in the 80s). So from my simple frequent flyer standpoint take control...............heck Crandall may come out of retirement to be CEO again.............joking.

 

[xUT]

Laugh if you want, but given the choice of having Doug Parker as CEO (which is a certainty if AA goes BK) or running show, I would pick running the show.......

I have been lurking here for a while, I remember when this board was under a different name back in 2003 and the heated discussions about saving the company from BK then. I get the anger, I get the mistrust of management,I get those who remember what AA stood for under AA (remember the glory years in the 80s). So from my simple frequent flyer standpoint take control...............heck Crandall may come out of retirement to be CEO again.............joking.

UAL ESOP was still controlled by the BOD, CEO and executive management.
Union heads held BOD seats but did nothing but collect a paycheck.

If you want an AA ESOP, dump all unions and create a AA Union.
Good Luck,
Been There, Done That, can't afford the T'shirt...
B) xUT

 

[Buck]

UAL ESOP was still controlled by the BOD, CEO and executive management.
Union heads held BOD seats but did nothing but collect a paycheck.

If you want an AA ESOP, dump all unions and create a AA Union.
Good Luck,
Been There, Done That, can't afford the T'shirt...
B) xUT

Ok but the T-shirt has to have a new slogan.....

 

[xUT]

Ok but the T-shirt has to have a new slogan.....

F____K Me Too...

 

[MCI transplant]

<_<------- I don't believe you should be concerned with employees buying the Airline.------ I believe you should be more concerned that someone might get into his head that the parts are worth more than the whole, and decide that with the price of today's stoke, they could make a killing selling it off one piece at a time!

 

[Frank Szabo]

UAL ESOP was still controlled by the BOD, CEO and executive management.
Union heads held BOD seats but did nothing but collect a paycheck.

If you want an AA ESOP, dump all unions and create a AA Union.
Good Luck,
Been There, Done That, can't afford the T'shirt...
B) xUT

... that was UA's problem as it would be ours if another ESOP would come to pass at American.

All management and the BOD would have to go - never happen.

 

[texflyer]

... that was UA's problem as it would be ours if another ESOP would come to pass at American.

All management and the BOD would have to go - never happen.

If you own the company, yes they will. If you own the company YOU pick your management team. As a matter of fact I bet Arpey would jump at the opportunity to save face and sell out to the employees.

 

[WorldTraveler]

the problem with the UA ESOP is that the employees saw the company as their personal piggybank... and wanted the right to make withdrawals at their leisure.
.
And ESOP at AA could work and I could only wish that of the many options for turning the company around, it is a pretty viable option. But an ESOP has to involve cooperation between the various labor groups and a willingness to take the cuts necessary to turn the company around and not expect to have it repaid for perhaps a number of years.
Right now, AA employees don't seem to be interested in taking cuts at all - and AA can't be turned around w/o a lot being cut. Perhaps labor might be more interested if cuts came from someone other than the current mgmt team.
.
Low stock price or not, AA still has alot of valuable assets and it is entirely possible that the value for someone to acquire the company and then sell off the parts for more money is a greater and less risky proposition than continuing with the present course.

 

[jimntx]

It is hard to kill an airline. Look at how long Eastern, Pan Am, Braniff, and TWA kept going long after they started losing money. There is always someone out there with more money (and ego) than sense (think Icahn and Lorenzo) who on a slow day thinks, "I can succeed where others have failed." And, then coughs up the money to buy the airline. At our current capitalization, that would not be hard to do. The stock closed at $1.80 yesterday. It would only take about $150 million to buy 1/4 of the company. For that matter, it would only take $603 million to buy the whole think...lock, stock, and barrel.