American, bankruptcy and $$$$

[Traderd]

http://www.tulsaworld.com/business/...rticleid=20121010_45_A1_CUTLIN286867&allcom=1

"AMR's legal and consulting fees total $77,676,873 for the period April 1 through July 31, say documents filed in U.S. Bankruptcy Court for the Southern District of New York."

"Weil Gotshal & Manges LLP, the New York law firm serving as AMR's lead bankruptcy attorneys, collected $18,387,010 in fees and expenses between April 1 and July 31, court filings show."

"Weil has 86 lawyers working on AMR's case, billing the company from $450 to $1,075 per hour. In addition, 47 paralegals, clerks, library staff and other non-legal staff are costing AMR from $80 to $320 per hour for their work on the case, court filings show."

What's an American captain paid these days? Non-legal staff at $320 an hour billable? Man, what a racket.

 

[BobbyBiplane]

http://www.tulsaworld.com/business/...rticleid=20121010_45_A1_CUTLIN286867&allcom=1

"AMR's legal and consulting fees total $77,676,873 for the period April 1 through July 31, say documents filed in U.S. Bankruptcy Court for the Southern District of New York."

"Weil Gotshal & Manges LLP, the New York law firm serving as AMR's lead bankruptcy attorneys, collected $18,387,010 in fees and expenses between April 1 and July 31, court filings show."

"Weil has 86 lawyers working on AMR's case, billing the company from $450 to $1,075 per hour. In addition, 47 paralegals, clerks, library staff and other non-legal staff are costing AMR from $80 to $320 per hour for their work on the case, court filings show."

What's an American captain paid these days? Non-legal staff at $320 an hour billable? Man, what a racket.

Might I recommend that you become a paralegal ... they seem to be more in demand than pilots.

Bob

 

[Traderd]

Might I recommend that you become a paralegal ... they seem to be more in demand than pilots.

Bob

Huh? Thought there was a hiring boom getting started? Sorry YIP, can't help myself

 

[Floatplane]

I should have been an airline bankruptcy lawyer. Every major airline has gone through bankruptcy, and with each the pilots took it in the A$$! The only winners are the lawyers and CEO's!

 

[Traderd]

I should have been an airline bankruptcy lawyer. Every major airline has gone through bankruptcy, and with each the pilots took it in the A$$! The only winners are the lawyers and CEO's!

No doubt.

$33K a month for copying and duplication? Calling Al Gore - they be killin' some trees over there.

In the big picture, I guess this is all peanuts.

 

[bizicmo]

http://www.tulsaworld.com/business/...rticleid=20121010_45_A1_CUTLIN286867&allcom=1

"AMR's legal and consulting fees total $77,676,873 for the period April 1 through July 31, say documents filed in U.S. Bankruptcy Court for the Southern District of New York."

"Weil Gotshal & Manges LLP, the New York law firm serving as AMR's lead bankruptcy attorneys, collected $18,387,010 in fees and expenses between April 1 and July 31, court filings show."

"Weil has 86 lawyers working on AMR's case, billing the company from $450 to $1,075 per hour. In addition, 47 paralegals, clerks, library staff and other non-legal staff are costing AMR from $80 to $320 per hour for their work on the case, court filings show."

What's an American captain paid these days? Non-legal staff at $320 an hour billable? Man, what a racket.

The $320 an hour is for the librarian, that dewey decimal system is rough stuff.