skykid
On Point
- Joined
- Jan 24, 2002
- Posts
- 759
Boeingman, CH11 is not what anybody wants, but I can promise you it will not ruin lives unless they let that happen!
First off, Management made the right move today by giving a 30 day deadline to get on board with concessions. UAL isn't going to go down to the last dollar before CH11 and have to sell everything. They are going to reorganize from a relatively strong position, this Fall instead of later. There will be more forloughs of course, but I bet you will be surprised how few. I have watched USAIR planes takeoff from one side of the country to the other the last few days, and UAL isn't going to just die either.
For the folks who do lose jobs, its just like anybody else who loses work in any other industry. Those who view it as an opportunity and aren't afraid to work will eventually wind up in a stronger postion.
Here's what will be interesting: Option 1 - take big enough concessions to get gov backed loans and maybe stave off Ch11. Employees will keep stock and have a chance to see it go back up.
Option 2: Fight for the contracts, uphold the profession, and see stock go to zero. I'm betting on option 2.
First off, Management made the right move today by giving a 30 day deadline to get on board with concessions. UAL isn't going to go down to the last dollar before CH11 and have to sell everything. They are going to reorganize from a relatively strong position, this Fall instead of later. There will be more forloughs of course, but I bet you will be surprised how few. I have watched USAIR planes takeoff from one side of the country to the other the last few days, and UAL isn't going to just die either.
For the folks who do lose jobs, its just like anybody else who loses work in any other industry. Those who view it as an opportunity and aren't afraid to work will eventually wind up in a stronger postion.
Here's what will be interesting: Option 1 - take big enough concessions to get gov backed loans and maybe stave off Ch11. Employees will keep stock and have a chance to see it go back up.
Option 2: Fight for the contracts, uphold the profession, and see stock go to zero. I'm betting on option 2.
