LCC/AMR Merger offer

[scoreboardII]

Some of you guys need to checkout: http://www.drinkinganddriving.org/ over 900,000 individuals are arrested each year for DUI. DP just happened to be one of those 900,000. Just think of the number of drivers that do not get arrested. Having been in the airline business for over 22 years this industry has it fair share of alcholics. We are all make mistakes over the years, God knows I have made many. At least he is not like Miss Lohan and in the news all the time for something.

Yet, Doug boy kept his job, never had a threat of losing his job and those two AW pilots that got caught, how did they fair again?

 

[WSurf]

Yet, Doug boy kept his job, never had a threat of losing his job and those two AW pilots that got caught, how did they fair again?

I don't think Parker would've took out 150 people in his BMW after blowing slightly over the legal limit. Not saying that the AW guys wouldn't have safetly took off from MIA and Slept to PHX and nothing would've made the news. Yet these two AW guys partied all night and then wanna get into a pissing match with Airport Security folks over Coffee, thus allowing them folks to get such a good wiff of Bourbon on their breaths. Pretty Dumb..

I understand where you're coming from.... But its a big Club and guess what?? We ain't in it!!!

 

[rajflyboy]

Guys

Its up to the creditors what to do with AA. What the AA management or pilots think doesn't really matter.

That's the fact jack

 

[get2flyin]

Guys

Its up to the creditors what to do with AA. What the AA management or pilots think doesn't really matter.

That's the fact jack

That's a fact, Jack!

 

[Turtle21]

That's a fact, Jack!

Arrrmy training, sir.

 

[C Festerpuss]

This ain't no merger...Now this here is a merger....


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[FONT=&quot]http://www.thestreet.com/author/1165862/PR Newswire /all.html12/06/12 - 02:53 PM EST [/FONT]


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Hillbilly Report..... Question For The Supreme Court: How About Same Sex Mergers?

by: Hilbilly

The recent Supreme Court decision CITIZENS UNITED v. FEDERAL ELECTION COMMISION seems to say that Corporations are the same as people. OK Supreme Court, lemme ask you this: If two male corporations or two female corporations want to merge (Same Sex Merger), will you let them or will you deny the merger and cite DOMA?



NOW That there is sum type o' merger....

 

[Flyby1206]

I don't really see why they would need cash. You need outside cash when neither airline can bring in the money themselves to finance the exit from bankruptcy and the costs of the merger... LCC has around $2.5 billion in unrestricted cash and AMR has around $5.1 billion. Both have operations currently operating in the black, as well. I don't see why they would want or need to bring in outside money.

I dont fully understand how this whole thing works, but if half of the UCC didnt want the standalone plan could TPG buy them out so to speak and take their place on the committee?

 

[Green]

APA INFORMATION HOTLINE

This is APA Communications Director Gregg Overman with the APA Information Hotline for Monday, Dec. 10.


We would like to thank our counterparts at USAPA for agreeing to attend our latest discussions with the UCC and US Airways about our pending merger transaction. We would especially like to thank the USAPA officers for agreeing to serve coffee and donuts while the grown ups in the room talk business. APA President Wilson added, "we will certainly be finding room for our new union counterparts on the Food and Beverage Committee. We look forward to having USAPA leadership serve nothing but the finest breakfast and lunch items while we conduct business on behalf of all native American pilots".

That's it for now. Thanks for checking this hotline.

 

[Russ]

Yup, it doesn't take everyone being torqued off to sour the mood, just a few filoks who perceive they got the shaft.

 

[fam62c]

I dont fully understand how this whole thing works, but if half of the UCC didnt want the standalone plan could TPG buy them out so to speak and take their place on the committee?

I think that prior to any final deal bondholders would be free to sell their debt to anybody they want. LCC got on the creditor committee by purchasing some bonds from another debt holder. What the bondholders want is 100 cents on the dollar, they want their investment paid back at the terms in place before the bankruptcy. This is not likely to happen so they will end up having to convert all or some of their claim from cash to equity which carries a risk. If somebody like TPG came along and started making offers to buy debt in cash at more than the creditors thought they would get from a reorganization they could possibly buy enough debt to end up with the majority of the equity after the reorganization. A company like TPG may be much more likely to take the risk of an equity stake of unknown future value than many of the institutional bondholders.

If the American management team didn't have the exclusive right to propose a reorganization plan I think we might see some competing plans. It always seems to me that in bankruptcy competing plans should be allowed from day-1 so the creditors can compare deals (including the option of partial or total liquidation) to get the best return. The idea of leaving the management team of a failed company in place with the exclusive right to offer a reorganization plan always seemed strange to me. It's one of the things that makes bankruptcy such an attractive option; it creates a moral hazard issue especially when management teams are awarded new management contracts and equity stakes after the reorganization. Failure can be very profitable for a management team.

 

[OHGOON]

It always seems to me that in bankruptcy competing plans should be allowed from day-1 so the creditors can compare deals (including the option of partial or total liquidation) to get the best return. The idea of leaving the management team of a failed company in place with the exclusive right to offer a reorganization plan always seemed strange to me. It's one of the things that makes bankruptcy such an attractive option; it creates a moral hazard issue especially when management teams are awarded new management contracts and equity stakes after the reorganization. Failure can be very profitable for a management team.

And here we have it! Legalized corruption. Mexico does it with guns and we do it with lawyers, judges and bought Congressional lackeys. Chapter 11 is the most corrupt law I have ever witnessed. Incentivizing management mediocrity is not in the best interests of anyone but the idiots who are trying to bilk the system at whatever the cost to the rest of society. :angryfire

 

[jrcpilot]

Don't underestimate the power of happy motivated employees...

Really? you think that the Employees at SWA are all happy and motivated? Thats not what I hear from the SWA employees.

 

[OHGOON]

Really? you think that the Employees at SWA are all happy and motivated? Thats not what I hear from the SWA employees.

Sad but true from what I hear as well.

It looks like the Brady Bunch days might be coming to a close over there too. :erm:

 

[DUBLINFLYER]

Ah! it only took until page 3 for the SWA bashers to chime in, slow day again
It could end up being US Air West V US Air East V AA pilots wow a Ménage à trois

 

[Skybus]

If you listen to the 5% which may now be the 10% you may be right. The other 80 to 95% of us are very happy, just not thrilled at having to compete with a bankrupt industry/employees/contracts.

 

[get2flyin]

Ah! it only took until page 3 for the SWA bashers to chime in, slow day again
It could end up being US Air West V US Air East V AA pilots wow a Ménage à trois

There is no East and West. Only the unified pilots of USAir, equally represented by the U.S. Airways Pilot's Association. Sorry, no Ménage.

 

[Turtle21]

There is no East and West. Only the unified pilots of USAir, equally represented by the U.S. Airways Pilot's Association. Sorry, no Ménage.

Not sure how unified I would say the USAir pilots are but there is no doubt who gets to bargain on their behalf.

President's Message


Fellow Pilots,

This afternoon, December 10th, your Officers, Board of Pilots Representatives (BPR) and Negotiating Advisory Committee (NAC) conducted a two-hour informational conference call regarding the potential merger of US Airways and AMR (American Airlines).

With the approval of the BPR, your union has entered into discussions about a potential merger with AMR, Allied Pilots Association (APA), the Unsecured Creditors Committee (UCC) and US Airways management. These discussions begin this week in Dallas. President Gary Hummel and Executive Vice President Steve Smyser will join the NAC, USAPA Professional Negotiator and USAPA General Counsel in these talks.

Because of the work your BPR has to do, the Regular Quarterly BPR Meeting will go on as planned. Vice President Steve Bradford will preside over this meeting. We will do our best to keep you informed as developments occur.

Respectfully,

Gary Hummel - President

"US Airline Pilots Association’s seniority proposal does not breach its duty of fair representation provided it is supported by a legitimate union purpose. This judgment is binding on the following class: “All pilots employed by US Airways in September 2008 who were on the America West seniority list on September 20, 2005.”

The parties in Dallas won't be interrupted.

 

[General Lee]

Not sure how unified I would say the USAir pilots are but there is no doubt who gets to bargain on their behalf.




The parties in Dallas won't be interrupted.

Sure, they can bargain for them, but after the NIC award is actually implemented. I can't wait!


Read this AGAIN: Discarding the Nicolau Award places USAPA on dangerous ground. (Doc. 193, p.7.)--Judge Silver


Bye Bye---General Lee

 

[Turtle21]

16,560 :laugh:

 

[Dornier 335]

Sure, they can bargain for them, but after the NIC award is actually implemented. I can't wait!


Read this AGAIN: Discarding the Nicolau Award places USAPA on dangerous ground. (Doc. 193, p.7.)--Judge Silver


Bye Bye---General Lee

Why don't you all tell us how your mighty airline treated the PA and WA pilots!

I can't wait!

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