What ever happened to "ACCOUNTABILITY"!!!!!!!!
For a change it would be nice to hear someone from AC stand and up say "we made a mistake". Doubt I will live long enough. It is always some one else's fault!
They want us to believe that all of AC's problems started with the "purchase of CP" (they paid $90M for the assets of CP). What a crock! You don't just wake up one day $ 13B in debt. Keep in mind they have sold assets along the way and even after that still owe $13B. Their dividend performance since they were privatized has been an embarrassment. The went public at $ 8.00 and for years it languished in the $6-10 range. Sure after the CP "purchase" the shares shot up to the $16 range. The share price increase was not driven by actual operating results but the anticipation of what AC should have delivered with over 80% of the domestic market, the lions share of Transborder and a dominate position in the Int'l routes to/from Canada. They have never even come close to delivering the results. The operational whiz that runs the company was never able to deliver any operational savings after the merger. In fact the opposite held true, they increased the payroll to handle the same amount of passengers.
Some have told us that there was nothing AC management or the Board could have done to change the outcome. Yet this very same person sold their shares when they were in the $ 16 range. What did this person know that caused them to sell their shares instead of holding that AC management and the board didn't???????