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(Time)   CEO: I would like to merge my airline with another airline to make the largest airline in the world. Judge: ok. CEO: I would also like $20 million. Judge: I don't think that's really in the spirit of bankruptcy   (business.time.com) divider line 4
    More: Followup, largest airlines, CEO, AMR Corp., Chapter 11, Title 11, United States Code, US Airways  
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2997 clicks; posted to Business » on 28 Mar 2013 at 1:51 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-28 02:41:51 PM  
2 votes:

buzzcut73: hej: I wonder how much money he would have expected if he hadn't lead American Airlines to bankruptcy.

He took over after the bankruptcy was filed. Gerard Arpey was in charge right up until they filed, then left when they filed.
So, on the one hand, Horton knew he'd be leading the company through a Ch 11, on the other, there was probably some agreement to pay him a decent amount of money to do so.

I think the guy does deserve to get paid, the Ch 11 has gone pretty smoothly, all things considered. They've kept flying, posted a profit in at least one quarter, and negotiated a decent merger where hopefully things will be more AA and less US when all is said and done, though I imagine the labor issues are going to be fun to watch...US currently has East and West groups from their last merger (US and America West), it may be there will be a East, West, and South because the unions won't agree on a seniority list.


He's just one employee out of thousands.  If all the employees got three to five years of salary at severance it would make sense.  He only gets it because all the other CEOs get it because way back when a single CEO got it and now they all have to have it.

It's utter bullshiat.
2013-03-28 07:22:49 PM  
1 votes:

H31N0US: whistleridge: A lifetime of free first-class flights for him and his wife? Depending on how often they choose to fly, that could be another $20 million in benefits right there. Especially if those tickets are good for alliance partners as well.

I would take that alone! First class, anywhere you wanted to fly, whenever you wanted to go? That would be amazing.


I'd live in the plane, it would be my home.

I guess you'd have to leave your home when it arrives at airports, but only to walk to the next one, as you'd sheduled your trips to have as little downtime as possible.
2013-03-28 06:16:37 PM  
1 votes:

hej: I wonder how much money he would have expected if he hadn't lead American Airlines to bankruptcy.


None. Ever since deregulation the passenger airline industry has relied solely on bankruptcy to stay in business. Once one company jettisons their debt it gives them a competitive pricing advantage. This forces the others to do the same or get undercut all the time.

The airline industry is not generally solvent and will not be solvent so long as flights remain so inexpensive. What I haven't figured out is why people keep lending them money after yet another bankruptcy.
2013-03-28 02:20:51 PM  
1 votes:

whistleridge: A lifetime of free first-class flights for him and his wife? Depending on how often they choose to fly, that could be another $20 million in benefits right there. Especially if those tickets are good for alliance partners as well.


I would take that alone! First class, anywhere you wanted to fly, whenever you wanted to go? That would be amazing.

Hell, make it coach if you want but pay for my Amex platinum so I can at least hang in the club.
 
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