Aloha Airlines files for Chapter 11 bankruptcy

[fly4surf]

another cop out in hawaii!
can't we all just have a stable job?
not as long as management runs off with all the money. leaving the working people to deal with their profits.
now i know what to get my 4yr degree in.
airline management,
get rich quick!
good luck ALOHA!

 

[Eagle-ista]

Critical mass of bad management

Just remember...Don Carty used to work with Banmiller at American...do the math.

Lovely. What a pair these two are.

Carty left American after he asked the pilots for $660 million in concessions and then quietly put $45 million of it into a bankruptcy protected account to secure the retirements of 45 top executives at AMR, including himself and Peter Bowler, president of Eagle.

Now, Carty is involved with the investment group in San Diego that looks like it will take control of Hawaiian when it comes out of bankruptcy. He is well known for his ambition to make his job more important by aquisitions that make his airline larger. Remember Reno Air and TWA? Neither of those mergers were "painless" for any group involved.

Banmiller has never "run" an airline. He's a hatchet man who blows in, chops blindly with a financial machette, and runs away, leaving someone else to bind the wounds. That's why Aloha management wasn't able to put a price on the work-rule concessions they wanted. They just want what USAir or United got.

If there is a lesson to be learned in all of this it is that Aloha pilots can not accept Banmiller's word for anything. There must be an independant, third party that reviews the books, including the money that has been siphoned off by the owners, to determine the situation before any huge concessions are made. For example, who has control of Island Air? In the words of Deep-throat in 1972, "follow the money...".

The one up-side to a chapter 11 proceeding is this kind of accounting will happen.

ALPA National should be sending bankruptcy lawyers to Honolulu to review all of the proceedings and make sure the accounting is accurate. While pilots are inherantly intelligent people, these bean-counters with Harvard MBA's skated through Ethics 100 with test answers posted on the door when they go in to take the final. (In other words, they don't care about who they screw to insure their golden parachute.) If ALPA isn't responding to this, Aloha pilots should be screaming at the top of their collective lungs to make sure it does. ALPA comunications should be doing the spin to the press as well. Perception is everything!

Sorry, I realize that's about 15 cents worth when I'm only entitled to two.

 

[General Lee]

ALPA National is too busy browning their pants.



Bye Bye--General Lee

 

[AQ PILOT]

Eagle, we'll take every cent you got! Good post. I have heard ALPA has at best, offered little help so far. We were supposed to have had unfettered access to AQ's books since our concessions began years ago....Something tells me there may be multiple sets of books....

 

[Erndogg]

The one up-side to a chapter 11 proceeding is this kind of accounting will happen.

ALPA National should be sending bankruptcy lawyers to Honolulu to review all of the proceedings and make sure the accounting is accurate. While pilots are inherantly intelligent people, these bean-counters with Harvard MBA's skated through Ethics 100 with test answers posted on the door when they go in to take the final. (In other words, they don't care about who they screw to insure their golden parachute.) If ALPA isn't responding to this, Aloha pilots should be screaming at the top of their collective lungs to make sure it does. ALPA comunications should be doing the spin to the press as well. Perception is everything!

Sorry, I realize that's about 15 cents worth when I'm only entitled to two

Funny how before Hawaiian went into BK that our former owner Adams paid him and his side kick Randy Smith back about 30 million-stock buyback(after the failed merger w/Aloha) and started to report deep loses. Even after our labor board members voted against draining our cash reserves after 9-11!!!!!
Then they proceeded to hire Authur Anderson type accounting types to to hide the $$$ and sucker the employees into taking concessions.
I was glad to see Boeing see through thier BS and oust Adams.

Since the BK filing and the ouster of Adams we have had our best year ever in our history!!! ( 60-65 mill profit for 2004!!) The accounting types can't hide the real numbers now, since they are required to report every month to the court.

Enter Josh Gutbum as trustee (former CEO 9-11 fund). Takes credit for Hawaiian's turnaround-NOT!!!! and continues to ask employees for more concessions. Endorses the Ranch capital plan which involves Carty and is aggresively trying to shove a concessionary contract down our throats
to get out of Chap 11 this year.

These scumbags keep on showing up at Hawaiians doorstep. I hope the Aloha guys can get ALPA to penetrate the Ching empire to get the real numbers!!

 

[English]

ALPA National should be sending bankruptcy lawyers to Honolulu to review all of the proceedings and make sure the accounting is accurate.

You must have some influence. It has been done today.

 

[English]

[font=Times New Roman,Times,Serif]The airline has retained Giuliani Advisors to assist in exploring strategic alternatives to maximize value through the Chapter 11 process.

[/font]

Any takers?

 

[Freight Dog]

Like I said on another thread... there's gonna be all sorts of shady $hit coming to light as a result of this... I'm glad we didn't give Banmiller a dime. Personally, given his track record with HAL pilots, I'd rather take my chances with Judge Faris.

 

[AA717driver]

If you come out of this with ALPA not intentionally screwing you, it's a bonus.

Don't waive your scope clause whatever you do!TC

 

[SWA/FO]

How many planes does Aloha have?

 

[Freight Dog]

How many planes does Aloha have?

13 -700's
14 -200's (3 are freighters and one is QC)

 

[aeronautic1]

Retire

Gordon Bethune is retiring from CO. Says he would not rule out another aviation challenge.

 

[Hugh Jorgan]

How many planes does Aloha have?

My money is on your rumored 30 planes coming from USAirways, not Aloha.

 

[Jim]

If you come out of this with ALPA not intentionally screwing you, it's a bonus.

Don't waive your scope clause whatever you do!TC

I believe ALPA national has done a fine job helping HAL with its bankruptcy. Their financial analysis has helped tremendously in our position duing our ongoing contract negotiations.

That said, I do believe they could grow a bigger pair and be more vocal in the press like the AFA has.

 

[Hugh Jorgan]

http://the.honoluluadvertiser.com/article/2005/Jan/04/bz/bz04p.html

Nice to know employees will get paid. Surprises me to see the Chings and Ings digging in their wallet. How's that figure in the strategery of it all?