Originally Posted by Jetmeck
Here is the truth...........you don't know chit.
I work there and we gave up 18.5 % in wages and benefits for the last ten years.
Fat contracts for the largest order of aircraft in history but damn sure not labor.
Full of chit is what you are.
Bankruptcy courts almost always take the companies side.
Other airline employees took concessions and now they are profitable.
This is management failure but your labor, union hating ass will never admit it.
4 billion in cash and assets...............
I got my pension...................
no moron Bankruptcy courts do not always agree with the company if they are not bankrupt the court does not allow it..
I'm guessing you do not have a clue on the term so here it is..
Law . a person/company who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law.
any insolvent debtor; a person unable to satisfy any just claims made upon him or her.
a person who is lacking in a particular thing or quality: a moral bankrupt.
since insolvent might be a big word for you
not solvent; unable to satisfy creditors or discharge liabilities, either because liabilities exceed assets or because of inability to pay debts as they mature.
pertaining to bankrupt persons or bankruptcy.
I understand you gave back 18.5% BFD the courts said in part that was not enough..
The $4.1 Billions is considered an asset and thus carried on that side of the ledger.. even with that IIRC AA was 4.8something in the hole IF they did not the $4.1 billion in the bank for expenses during Bankruptcy the judge may have just considered closing the company down all together and liquidating the assets to pay off creditors..
Yes it may be a management issue.. but that does not mean they will pay for the problem.. it means EVERYONE that is associated with them will get part of the blame..
it ahs been in the past labors fault for insisting on higher wages and benefits than the airline can afford IF they do not get it they strike which costs money so the airline bites the bullet knowing that somewhere down the line it will all come crashing down..
Now because 3 or more unions at AA are getting their employees to much money, the cost of fuel and not being able to buy new equipment (planes) because labor costs are to high it has reached a point that they had to go into bankruptcy because they were reaching a point that they spent more money than they had..
SO suppliers they owe or owed money to, employees shareholders are now going to get less then they were due..
the more I hear from you the more I think #3 above applies to you.
SO do you get it YET.. or are you going to think calling me a union hater will make it all right..
as for your pension the judge has not made that decision yet.. if the fund has ten million less than it is supposed to have it comes from somewhere..
probably another bailout from Nobama.. man what he won't do to get a vote..