Carty Quits AA and AA goes Chap. 11

It's pretty bad when I was on an American jumpseat a few days ago and both pilots were contemplating about if it would be better if Crandall came back.

Weeeeeeeeird.
 
That Reuters report is false, CNBC reported that AMR will avoid BK, Carty resigns and Airline unions agree on talks to keep the airline out of BK.
 
Nonetheless, "Hey Carty, don't let the door hit you in the arse on the way out!"

Some of my best pals are Canadian, but this one needs to go back to Manitoba, eh!

I guess the new guy was one of the head honchos at Sears... "Hey, Brennan, have your former people stop calling to sell me term life insurance and aluminum siding!"
 
American Airlines Bankruptcy Filing Seen Soon
Thu 8:14pm ET - Reuters
AMR Corp.'s American Airlines will file for Chapter 11 bankruptcy protection on Friday or perhaps Monday unless its flight attendants agree shortly to accept pay concessions, several sources familiar with the matter told Reuters on Thursday.

Reuters is a scam, this cost investors money based on their bogus reporting, look at the after hour trades!!!!!!!!!!!
 
I predict AMR won't go B/K on Friday.

Here's why:

1. Carty resigned, got his severance package, and the Unions got a "scalp" to show to their constituents to keep them happy. Carty wins, Union Leadership looks tough, impresses membership.

2. 2 of the 3 unions have already agreed to the new somewhat improved concessions package... only the FA union has to come on board. They can do this on Fri., or let them stew on it over the weekend and maybe by Monday they will come to their senses.

3. By late Mon. if FAs don't come on board, ok maybe then the Board will want to pull the B/K trapdoor,... but I predict they'll wait at least till Mon. afternoon.

4. Lastly, the new Board Chmn., Brenan, is very close to Purcell, other board member, and Purcell is Pres. of Morgan Stanley one of the few quality investment banking firms on Wall St. (excepting their internet analyst). Purcell for key reason clear to anyone reading Morgan Stanley's annual report (MWD) doesn't want AMR bankrupt.
 
[ QUOTE ]
American Airlines Bankruptcy Filing Seen Soon
Thu 8:14pm ET - Reuters
AMR Corp.'s American Airlines will file for Chapter 11 bankruptcy protection on Friday or perhaps Monday unless its flight attendants agree shortly to accept pay concessions, several sources familiar with the matter told Reuters on Thursday.

[/ QUOTE ]

If you simply look at history, specifically the upper classes attempts to scare unions and bully the workers, this is simply another means of enforcing that fear. Since the 70's the the majority of workers in this country have gone caput(spelled right?) with regards to organizational skills. Upper management and corporate elites have simply taken over. I hope the unions don't give in. This will send a message to not only the upper management and corporate elites who sit on the boards of 5 or 6 different companies, but also to workers of different industries.

Rock on guys!
 
As bad as this is for our careers, I'm a little happy because I bought a bunch of AMR May $5 puts on Friday.. (@$1.55)...

-Sean
 
[ QUOTE ]
Have you seen the little piggies
crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt
to play around in

Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts
to play around in

In their sties with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a damn good whacking

Everywhere there's lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives
to eat their bacon

One more time

[/ QUOTE ]

STATEMENT BY DONALD J. CARTY
April 24, 2003

Notice he never says anything like, "Sorry I acted like a total f***in greaseball you guys, I was a jerk; if the company failed I would have been set for life while the rest of you would have been up s*** creek, greed is wrong," and so on. Gotta love how upper level management walks all over ya when if it wasn't for the little guys doin' bustin their balls, they wouldn't have a job at all... Show some respect for your employees, we're all part of the same company and this is a problem we all have to get through together.

Okay, enough ranting...
 
[ QUOTE ]
One more pig gets kicked out of the trough!!!!!

[/ QUOTE ]

Yeah, but due to the executive compensation (read • the employees over) package that he gets, he will make more money in one day by leaving than any top tier captain at AMR makes over his career.
 
Carty's leaving with phat pockets and doesn't have to do the old 9-to-5 anymore? YEAAAAAAAH he's sorry.

"Fine, if you guys don't want me, I'll take my millions, watch Dr. Phil all day and hone my golf skills"
 
[ QUOTE ]
Carty's leaving with phat pockets and doesn't have to do the old 9-to-5 anymore? YEAAAAAAAH he's sorry.

"Fine, if you guys don't want me, I'll take my millions, watch Dr. Phil all day and hone my golf skills"

[/ QUOTE ]

And what's even sadder is that some company will hire him somewhere down the line with an even more obscene compensation package.

It's kind of like your CEO, Doug, saying that you folks needed to take paycuts while he took home $12 million. Well, maybe if he gave back, say, ten million of that, you wouldn't have to lay off a few thousand people!
 
I think of it like the movie "Schindler's List". Every multi-million dollar bonus are jobs lost. Each time we create a new VP of "muckety muck", it's another 20 jobs lost.

Like our last CEO Ron Allen still earns $500,000/year has a $120,000/year lease on an office building in Buckhead, GA and gets almost $80,000 for secretarial services from Delta -- not counting his pension. Keep in mind that Ron Allen was FIRED.

CEO's are the "New American Royalty" and we're just serfs in the kingdom.
 
[ QUOTE ]
Ahhh, Buckhead!

[/ QUOTE ]

Ditto!! Praise be!!
grin.gif
 
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