Midwest to File Ch.11 by end of week...

[FlyWolf]

Chapter 11 tomorrow morning, 99.9% accurate.

 

[deadstick]

Chapter 11 tomorrow morning, 99.9% accurate.

Flashback....

 

[spinproof]

Here ya go ......

Jupiter Kalambakal - AHN News Writer
Milwaukee, WI (AHN) - Midwest Airlines is planning to file for bankruptcy, according to its pilots.
This developed after collective bargaining agreement negotiations failed between pilots and the management of the U.S. airline.
According to Milwaukee Journal Sentinel reports, pilots were disappointed with Midwest as the carrier was not bargaining in good faith. The airline plans to have a better deal through a bankruptcy filing, the pilots said, which will impact "several millions of dollars" in wages and benefits.
But airline officials downplayed the accusations. Midwest said in a statement that it is "continuing to talk with the union despite claims to the contrary."
"We have been open and transparent in providing information, financial and otherwise, and believe strongly that our proposals are fair and equitable," it added.
A bankruptcy filing would enable Midwest to negotiate new labor contracts with its union, and re-negotiate debt with its lenders and creditors.

Copyright © 2003 - 2008 AHN - All rights reserved.​

 

[IdRtherBsailing]

"We have been open and transparent in providing information, financial and otherwise, and believe strongly that our proposals are fair and equitable," it added.
Copyright © 2003 - 2008 AHN - All rights reserved.

Complete Bull####. This is exactly what they are not doing.

 

[Ty Webb]

At those rates, who would show up to work at an airline? Let's see . . . hmmm . . . . . . 5:00 a.m. van rides, working nights, holidays and weekends, living out of a suitcase half the month . . . . . for 60% pay?

Lotsa luck!

 

[deadstick]

At those rates, who would show up to work at an airline? Let's see . . . hmmm . . . . . . 5:00 a.m. van rides, working nights, holidays and weekends, living out of a suitcase half the month . . . . . for 60% pay?

The sad thing is that there are probably many people who would. They are not necessarily at MidEx now, but they would be chomping at the bit to fly the 717.

Heck they might even pay TH $100/hr to build time (Dang, I hope he doesn't read this board!)

 

[IdRtherBsailing]

(Dang, I hope he doesn't read this board!)

If he does I would have to say is;

I don't wanna talk to you no more, you empty headed animal food trough wiper! I fart in your general direction! Your mother was a hamster and your father smelt of elderberries! No. Now, go away, or I shall taunt you a second time-a!

 

[PCL_128]

I think DAL was the last Chapter 11 to be able to abrogate their contracts in BK court. The laws were changed and DAL filed just prior to the execution date.

So, I don't believe they can unilaterally abrogate your contract now. But, I'm not a lawyer and I didn't stay at a Holiday Inn last night either...

Unfortunately, Section 1113 was unchanged in the bankruptcy laws. The company can file for an 1113(c) action to abrogate the contract, or even file for an emergency waiver from the contract (1113(e), if I remember right) in very short order, assuming they find an anti-labor judge. The changes to the bankruptcy code a few years ago didn't affect these contract provisions. What it did change was the ability of a company to remain in bankruptcy for virtually unlimited amounts of time with no real plan going forward. If MEH goes Chapter 11, then they'll have to have a real exit plan or face liquidation.

 

[IdRtherBsailing]

I think if they (I guess we) liquidate I am going to try and buy the "chip" cookie costume. That way I can have my friend with the Cookie Monster costume chase me around the neighborhood and have some good fun.

 

[WateryGrave]

Chapter 11 tomorrow morning, 99.9% accurate.

DOH!!!!