AMR tumbles more than 10% after pilot contract proposal
Nov 15, 2011, 11:49 am
#16
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Nov 15, 2011, 11:57 am
#17
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Prudent investors might diversify and rebalance their portfolio in the years leading up to their expected retirement. Of course that means you can't let it ride up until the day you retire.
Nov 15, 2011, 12:02 pm
#18
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The pilot union is simply mirroring Orwell's 'groupthink' mantra that ultimately plagued Eastern until it went under: 'FULL PAY TO THE LAST DAY' 
The pilot's really need to wake up and realize that any job (especially one as highly paid as a pilot, with low relative productivity to boot) is better than none at all.
The pilot's really need to wake up and realize that any job (especially one as highly paid as a pilot, with low relative productivity to boot) is better than none at all.
Nov 15, 2011, 12:03 pm
#19
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Can somebody with more intelligence than I have help me understand? What do the pilots hope to gain? Isn't CH11 the next logical step? Won't AA impose far-more dramatic terms in BK court? I just don't understand what they hope will happen.
Nov 15, 2011, 12:56 pm
#20
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It is funny to see investors panic over something like this, though. Gives me a chance to boost my AMR holdings on the cheap
Nov 15, 2011, 1:02 pm
#21
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Have you ever had any of your friends get divorced? This is quite similar
As I posted in another thread, the emotions have overcome logic. Particularly so for the Pilots
The pilots are jilted. Their reasons for being so hurt may be right or wrong (a discussion worthy of Omni as our moderator JDiver correctly likes to say)
Having said that, once you are not thinking practically and thinking only emotionally, you assume a mutual destruction principle that says "I don't care if I die as long as I take you with me". That is what happened at Eastern
A very good friend of mine recently went through a divorce. It was supposed to be very "civil" and "quick". In the end her "ex" decided to get angry and emotional and it took that "civil" divorce nearly 2 years to settle at a cost of hundreds of thousands of dollars. the end result you ask? Pretty much the same the two ex -spouses had put together on paper nearly 2 years ago all by themselves in their dining room when they finally decided to divorce
At this point, SADLY, I see emotions.....
Nov 15, 2011, 1:38 pm
#22
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The pilots are asking for more than they think they'll eventually be able to get.
Management is offering less then they think that they'll eventually have to give.
It's a negotiation. You don't start out with your best offer.
Nov 15, 2011, 2:33 pm
#24
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There is some level of irony with people at a company asking for more and more and more money when they business is faltering massively like AA (financially).
Apparently some people's greed knows exceeds a normal level of rationality.
Apparently some people's greed knows exceeds a normal level of rationality.
Nov 15, 2011, 2:39 pm
#25
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To be fair, this is the first pay proposal from AA during the entire negotiation. The union began five or more years ago with a demand for a 50% raise, which I believe they later modified to about 30%.
Nov 15, 2011, 3:00 pm
#26
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I have been praying for an AA bankruptcy. I made a huge dent on my lifetime miles on UA when it went through BK. I was flying PHL-ORD-GRU-GIG-GRU-ORD-PHL for $300 AI. I flew 175K EQMs for less than $2K. Boy......those where the good old days.
I gurantee you if AA goes through BK you will see fares for ~$300 RT for routes like JFK-LAX-NRT-LAX-JFK. Talk bout making EXP in a year for less than $1,500. I hope the pilots commit suicide and drag AA to BK......
I gurantee you if AA goes through BK you will see fares for ~$300 RT for routes like JFK-LAX-NRT-LAX-JFK. Talk bout making EXP in a year for less than $1,500. I hope the pilots commit suicide and drag AA to BK......
Nov 15, 2011, 5:05 pm
#27
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I have been praying for an AA bankruptcy. I made a huge dent on my lifetime miles on UA when it went through BK. I was flying PHL-ORD-GRU-GIG-GRU-ORD-PHL for $300 AI. I flew 175K EQMs for less than $2K. Boy......those where the good old days.
I gurantee you if AA goes through BK you will see fares for ~$300 RT for routes like JFK-LAX-NRT-LAX-JFK. Talk bout making EXP in a year for less than $1,500. I hope the pilots commit suicide and drag AA to BK......
I gurantee you if AA goes through BK you will see fares for ~$300 RT for routes like JFK-LAX-NRT-LAX-JFK. Talk bout making EXP in a year for less than $1,500. I hope the pilots commit suicide and drag AA to BK......
Nov 15, 2011, 7:11 pm
#28
Join Date: Nov 2011
Posts: 89
+1 on this.
I do think AA needs to seriously consider ch 11 and reorganize. Its painful to see such an once largest airlines in the world to go down like this. They need to further cut labor and operational costs to compete with others. Ch 11 is the only option they have left.
I do think AA needs to seriously consider ch 11 and reorganize. Its painful to see such an once largest airlines in the world to go down like this. They need to further cut labor and operational costs to compete with others. Ch 11 is the only option they have left.
Please seek some professional help. You are seemingly cheering on a bk process involving mass layoffs, significant paycuts to employees, dumping of pension liabilities on the taxpayer (ultimately), and shareholder wipeouts, just so you can save $500-$1000 for a one-year EXP re-qualification. Again...you need professional help.
Nov 15, 2011, 7:18 pm
#29
Join Date: Aug 2003
Posts: 2,374
+1 on this.
I do think AA needs to seriously consider ch 11 and reorganize. Its painful to see such an once largest airlines in the world to go down like this. They need to further cut labor and operational costs to compete with others. Ch 11 is the only option they have left.
I do think AA needs to seriously consider ch 11 and reorganize. Its painful to see such an once largest airlines in the world to go down like this. They need to further cut labor and operational costs to compete with others. Ch 11 is the only option they have left.
Nov 15, 2011, 7:26 pm
#30
Join Date: Nov 2011
Posts: 89
From business point of view, UA already proved its a failure by dumping Ted. Airlines industry is very different in US compared to in Europe and/or Australia. Heavy on domestic vs international. Also the labor union problem will still be there. Plus AAs mgmt has always been very conservative. That's too aggressive for them.