Oh my gosh...American Airlines files for bankruptcy

OklaMoni

13 years ago

Just found out about this while reading a biking forum... Liz, what does this do to you???

Moni

Here is a link that might be useful: American Airlines files for bankruptcy

Sort by:Oldest

Comments (9)

User
13 years ago
A lot of people around here are employed by American. There have been earlier rumors of jobs being moved or lost. I hope not.
OklaMoni
Original Author
13 years ago
I know Adella, lots of my cycling friend from Tulsa work there! Will it affect your family?

Moni
Related Discussions
Bankruptcy was the right answer for my family
Q
Comments (22)
Do I smell a religious discussion lurking in the wings? I had my post scratched, here, when I commented on the "God helps those who help themselves" quotation above. Plus admin sent me a warning to behave myself. I understood that religion and politics were not permitted on the Kitchen Table, but haven't seen in the Terms of Service that it was unacceptable elsewhere. As many of you know, I have spoken often here in opposition to the 15 - 18% rates of interest on major credit cards and the 25 - 28% charged by store-issued cards. When we sign (or, by our action agree to) contracts, it's important that we understand the terms. But many people don't bother ... many just ask how much they must pay as minimum monthly payment. Which means that, if they follow that procedure, they'll still owe part of that debt in 10 years or so. Along with a number of others, I've said for years, and done some lobbying along the line of trying to get implemented, that children should be taught more about the management of daily living, including money management, in school - but in most places it's very little done. As a parent, it seems to me important that I teach my children how money works, and how to take care that they not get into trouble in its use. I've done quite a lot of talking here relateed to the need for people to learn increasingly how to manage both their income and assets effectively. Taking on some of these credit card contracts grows to be more or less like flushing a $50. bill down the toilet ... ... every week. Stupid ... and hardly any of them would take on such a contract, if the terms were fully explained to them. I am distressed by the OP's reference to being able to keep not only cars ... but "houses", as well. I lived for a number of years where people, many of them refugees who'd left their home with nothing, had to save for years to afford a bicycle. Plus devise methods of countering rather high rates of inflation which chewed value annually from each of their units of currency while they did so. That's a treadmill, for sure. I am troubled by the lackadaisical attitude that some (many?) of our contemporaries seem to take regarding discharging obligations which they have undertaken: no one forced them into it. If my kid runs down an icy hill with leather shoes ... s/he shouldn't be surprised if s/he falls on her/his patoot. When we get to be adults ... we should act responsibly. When we make a contract, we should make a serious effort to fulfill our obligations in it. ole joyful
...See More
Dad declared bankruptcy.
Q
Comments (3)
cube1067, Hi again, friend from way back when. I'm sorry about your father's pickle. Not a pleasant situation, for sure. Isn't it difficult to compehend how someone can continue making the same mistakes over and over? And as for learning lessons, there's no rule that we can only learn from our own foolish mistakes: we're fortunate if we can, keeping our eyes and ears open, learn from the mistakes that others make. If we don't boss our money - it'll boss us. Learning how money works is an interesting hobby - that pays well. I've spoken here approvingly previously about Canadian MoneySaver, a plain paper magazine with no ads and few illustrations - mostly text. They asked what subscribers wanted, so sponsored seminars with their resource people and meetings of the subscribers in a number of cities. The monthly meeting here was last night. On Tuesday evening, the editor came to speak in London and offered a number of good ideas about money management and tax savings. Son went with me, daughter wasn't able to. The overhead transparencies that he used are available at www.canadianmoneysaver.ca/tipsandtools. A number of useful concepts relevant for everyone, but some of the material is relevant for Canada only. Have a great weekend, everyone. ole joyful
...See More
Companies that filed for bankruptcy
Q
Comments (15)
As I recall, Bestlawn made some additional comments. I don't see any now, do you? Administration has an eraser ... which they use on occasion ... not getting involved with anything remotely resembling "censorship", you understand. I've heard that Bestlawn has been banned. She may disagree with folks from time to time, and I think that it's fair to say that sometimes I've felt her replies to be couched in less diplomatic language then I felt comfortable with, but I do believe that she could disagree without being disagreeable. Sometimes she is (was) rather good at keeping the discussion on track and I felt at times was something of an antidote for some unusual (strange?) opinions that had been expressed. I think that sometimes it would be well if a few participants here were to back off a bit, disengage themselves some from their opinion and not feel personally insulted when someone disagrees with them ... to develop a bit thicker skin. I've written to admin to ask that her ban be lifted. ole joyful
...See More
Bankruptcy Mess Continues
Q
Comments (14)
Yes, feedingfrenzy, we toy with that possibility almost daily. Frankly, our largest worry is that if we do move in & then, down the road, everything goes wrong...well, DH is an attorney & we're concerned he may lose his license to practice law. He's also executive management at a financial institution & sits on one of the agencies' Advisory Boards. Being a part of something like that it would make the papers & would likely cost him his job...4 years from retirement. :( Our local counsel says, "If it were me I'd move in. But, I'll NOT advise YOU to move in!" rofl (D@mn attorneys...aren't good for anything!) But, we continue to plan & plot! lol /tricia
...See More
lisa_fla
13 years ago
Doesn't Liz work for Delta?
wanda_va
13 years ago
Liz does work for Delta.

This is a Chapter 11 bankruptcy, so they could come back after reorganization. Look at what happened with K-Mart; they declared bankruptcy under Chapter 11 and came back and bought out Sears. I had heard a rumor that they might do this to avoid the large fine imposed by the government for their recent problem of people sitting on planes for hours without food, water, or restrooms. Time will tell...
User
13 years ago
It doesn't affect my family. Dh works in another industry. I do know several people in various aspects of the airline industry around here. My dd's best friend's dad works for American.
socks
13 years ago
When a major airline cuts back their operations--like AA will be doing--including reduced flights and job cuts, it affects the whole industry.
ruthieg__tx
13 years ago
I was going to say the same as Wanda. Lots of companies do the Bankruptcy thing in order to get their company back to being profitable.
chisue
13 years ago
I believe AA is the only major 'old' airline that has NOT filed bankruptcy...until now. Every 'older' company has problems that newer ones do not -- pensions, old contracts with employees, aging fleets, etc. As I understand it, reorganizing after bankruptcy is the only way AA can complete with older lines that have already filed and reorganized, and with all the newer, expanding lines like Alaska. An old familiar to us, Hawaiian Airlines, is expanding -- now has flights from many mainland cities far inland, not just interisland and from the west coast.

We've been AAdvantage members for many years and are scheduled to fly ORD-HNL and back this winter (with hops to Maui on Hawaiian). AA changed our flight plan from nonstops both ways to just one nonstop out and a return via DFW (their home).
liz
13 years ago
I work for Delta so it wont do a thing to me...but we went thru it a few years ago...There were some layoffs...I'm 1692 out of 17,000 so we'd almost have to cease to exist before I'd be laid off...I don't remember taking a paycut...that came after 9/11 and it was about 40 percent...I'll never be back to what I was making pre 9/11...(i always said we were paid too much but i took it and spent it like everyone else!) I make a good salary for what I do...and thankfully we're non union so don't have dues...Delta has always treated its employees very good with the exception of a few scumbags at the top who are now gone...THANK GOD!! It's just like any big corporation...every now and then you get some bad ones and they have to go to keep the company alive!

They'll reorganize and hopefully come back better then ever...chisue is right...it's hard to keep up with the new ones who don't have the overhead...old employees...huge debt...

I wish them the best...competition is what keeps things right!

Oh my gosh...American Airlines files for bankruptcy

Comments (9)

User

OklaMoni
Original Author

Related Discussions

lisa_fla

wanda_va

User

socks

ruthieg__tx

chisue

liz

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

Oh my gosh...American Airlines files for bankruptcy

Comments (9)

OklaMoniOriginal Author

Related Discussions

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

OklaMoni
Original Author