publisher
Well-known member
- Joined
- Nov 27, 2001
- Posts
- 592
clear it up
There are a bunch of good details here and for the most part they are right on.
There are also some that are every bit as prejudice as mine.
You might wonder what other reason that the president might have had besides his great relationship with Bush. Like the fact that perhaps other friends of his did not want him to interfere. Take for instance American Airlines, what do you think they wanted. Would a strike at Eastern do them any good.
To me, the downfall of Eastern came much earlier than the late eighties. I am in the late 70's when people were telling me that they were the next failure. I forget which year that Frank Borman did the Airbus deal but they thought Eastern was in deep trouble then.
Frankly most of my thoughts on the subject have little to do with the pilot corp and a lot to do with the IAM, historical maintenance cost, interest expense, and destruction of their hidden reserves. Lorenzo did a good job of grabbing what was left of that.
Did I say anywhere that Eastern should not or could not have been saved.
The people you mention came around after the rape, not back when the airline could have been purchased or merged.
Whether you agree or do not, the fact is that the IAM was considered a militant bunch that would be a pain in the butt of anyone buying the airline.
There is a difference in buying the airline and turning it around and coming in to by an asset cheap.
Lastly, you guys get so worked up over a little discussion over a business. There may be a bunch of facts that I have forgotten.
I do remember that more people wanted System One than the airline itself.
At the time, I was the COO of a medium size public company and I was pretty amazed at the whole thing.
There are a bunch of good details here and for the most part they are right on.
There are also some that are every bit as prejudice as mine.
You might wonder what other reason that the president might have had besides his great relationship with Bush. Like the fact that perhaps other friends of his did not want him to interfere. Take for instance American Airlines, what do you think they wanted. Would a strike at Eastern do them any good.
To me, the downfall of Eastern came much earlier than the late eighties. I am in the late 70's when people were telling me that they were the next failure. I forget which year that Frank Borman did the Airbus deal but they thought Eastern was in deep trouble then.
Frankly most of my thoughts on the subject have little to do with the pilot corp and a lot to do with the IAM, historical maintenance cost, interest expense, and destruction of their hidden reserves. Lorenzo did a good job of grabbing what was left of that.
Did I say anywhere that Eastern should not or could not have been saved.
The people you mention came around after the rape, not back when the airline could have been purchased or merged.
Whether you agree or do not, the fact is that the IAM was considered a militant bunch that would be a pain in the butt of anyone buying the airline.
There is a difference in buying the airline and turning it around and coming in to by an asset cheap.
Lastly, you guys get so worked up over a little discussion over a business. There may be a bunch of facts that I have forgotten.
I do remember that more people wanted System One than the airline itself.
At the time, I was the COO of a medium size public company and I was pretty amazed at the whole thing.