You are a talented fiction writer. So now you claim USAir was in a pre-pack CH11? That's news. I'm no expert yet even I know that in a pre-pack the plan of reorganization is negotiated before the company even files. In 2005 USAir had been in CH1 for many months and had NO plan of reorganization nor were there even rumors of one being filed imminently.
So what are you going to make up next?
That's fine, you can deny, deny, deny. You're reaching. USAir had been in BK for many
months. Wow, the BK process takes years and USAir came out in months. Yep, no flag there.
Filing BK twice doesn't make a company nonviable. Being in a self-financed BK with no exit plan and all analysts counting the days to CH7 does indeed make a company nonviable. (Oh yeah, all the analysts are liars, all the judges are biased, and it's all ALPA's fault. I keep forgetting.)
Well at least you admitted it. They were a viable company. The day they file for ch 7, they become
NOT viable. Counting days, no exit plan, etc--Red Herring.
Even if true, irrelevant.
Not irrelevant at all. Part of the reason that they were and still are
viable
Oh, I get it: it was a SECRET pre-pack. Are you sure you won't get in trouble for spilling the beans?
Gimme a break. Nobody knows about mergers before they happen, nobody knew what was happening with USAir and AmWest until it happened.
In the 1st BK, there was never any doubt in my mind that viability was in doubt. DIP financing grew on trees. 2008 was still a few years away.
Lemme put it this way. Everybody except some USAir Easties thought liquidation was imminent in 2005. You state your contrary opinion yet are unable to present any facts or evidence to support that opinion. To support my opinion I state a) there was no exit strategy announced or even envisioned and b) analysts were in agreement and c) Doug Parker stated on camera that he had to rush the deal because USAir wouldn't last much longer.
I'm not an Eastie, and I'm sure liquidation was not imminent in 2005. a) public announcement would have brought A out of the woodwork to try and kill the deal b) Not all analysts were in agreement c) the rush was for DOJ fast approval before anybody could come in and mess it up.
It really doesn't matter.
Alone, perhaps not. But it does point to a larger pathology many Easties seem to suffer from: ignoring reality. Nicolau told the East DOH wasn't going to happen yet y'all were so shocked at the list your CIRP was activated. Then you shopped for and hired a lawyer who told you it was okay to impose a more favorable seniority list as long as you change unions first. And then the DFR trial which we easily won. Y'all believe just because it as overturned on ripeness it's like it never happened. Well, it did happen and that's why the company filed their suit for declaratory judgement. I don't care to guess what will happen with that suit but suffice it to say the company won't touch your wet-dream list unless it know it's legal to do so. In other words, probably never.
Not an Eastie, again. The East did indeed change it's stance after said conversation. Everyone neglects to mention that. The other contributing argument is that the arbitrator is not allowed to punish one side or the other. This is not a trial or baseball arbitration. A fair award is mandatory, and I believe the East has an argument that it is not fair. I honestly think that they were better off staying with ALPA, never voting in the JCBA, and just enjoying their attrition--kind of like they are doing now. A couple of other points: this non-viable company had recalled everyone from the east who wanted to come back
PRIOR to the award being handed out by Niccolau. Surely that might have something to say about the viability of the East. Additionally, the financials of the performance, post-merger, of the West and East speak volumes about where the value of this company really exists.
Well let's see. Offhand I'm thinking of Continental, TWA, United, US Airways, Delta, and Northwest. They all lost their pensions in CH11. What "several examples" do you have?
Well, let's see here. I honestly don't know about CAL and TWA. USAirways was voluntary--not forced. The pilots were the only ones at Delta who lost their pensions, and it was voluntary--not forced. NWA kept their pension. What else you got? Doesn't matter, you're wrong. BK is not an automatic termination of pensions. There is a metric which must be met in order to force termination in BK.
Right. The company would've asked the judge to eliminate their pension liability and it would've been gone. That's what happens in BK.
See above =====^
LMFAO. You think that suit is going to regain your pension? Better re-read the complaint.
It's not my pension. My pension was voluntarily terminated as well, but I received very valuable compensation for it. To answer your question, no, I don't think that the pension will be regained, but analysts have been proven wrong time and time again by the USAir pilots. It's a tough bunch.
I don't engage in the "my carrier is better than your carrier" nonsense. I made my comment because nobody in their right mind would quit US Airways for AWA unless they feared it was nonviable. I guess they should've talked to you first and found out how USAir was still in good shape.
Complete, utter, total, 100% BS. You want facts, you say. Here it is:
In 2005 AWA's future was apparently a lot brighter than US Air's. Several Easties quit, yes I said quit US Air to come to AWA. In this business you make your choices and hope for the best. Time will tell if you're decision was as smart as you brag it was.
Don't see any "right mind" comments, no non-viable comments. I
DO
see the words
apparently a lot brighter
. Yeah, that's factual
People leave companies for different reasons. Any speculation as to why is just that-speculation. The facts are that USAirways has value today from East operations--despite "all of the analysts predicting the demise", East pilots have found a way to unify--right or wrong (unprecedented), the West is arguably dragging down the operation with weak operations in a very low margins. I can see why you would want to cling to the Niccolau award like grim death.
