FriendlySkies
Topic Author
Posts: 3540
Joined: Fri Aug 13, 2004 3:57 pm

Independent Firm To Review UA's Plan

Sat Oct 23, 2004 9:06 am

http://chicagobusiness.com/cgi-bin/news.pl?id=14328


(Reuters) — United Airlines sought bankruptcy court approval on Friday to hire an independent firm specializing in corporate restructuring to analyze its business plan.

In return the International Association of Machinists has agreed to drop its motion asking the court in Chicago to appoint a trustee to oversee the No. 2 domestic airline’s management of its Chapter 11 case.

United, which wants to hire Bridge Associates LLC, said that its other stakeholders agree an outside evaluation of its plan would be a productive step.

The company expects the review to take a month.


I think this is definately a step in the right direction. This might be the most logical action UA has taken during this prolonged bankruptcy to date. It also prevents a union trustee from running UA into the ground like some other airlines.

 
JoFMO
Posts: 1840
Joined: Wed Jul 14, 2004 1:55 am

RE: Independent Firm To Review UA's Plan

Sat Oct 23, 2004 9:25 am

Sounds no bad.

But how independent are they if you pay them for reviewing your documents?
 
FriendlySkies
Topic Author
Posts: 3540
Joined: Fri Aug 13, 2004 3:57 pm

RE: Independent Firm To Review UA's Plan

Sat Oct 23, 2004 9:28 am

But how independent are they if you pay them for reviewing your documents?

More independent than UA doing it themselves.  Big grin
 
baw2198
Posts: 587
Joined: Wed Dec 24, 2003 11:20 am

RE: Independent Firm To Review UA's Plan

Sat Oct 23, 2004 9:35 am

Has there been any word on what their plan of attack is for restructuring? Also how many "buses" are left to take delivery on?
"And remember, Keep your stick on the ice"--->Red Green
 
ual777contrail
Posts: 2914
Joined: Sun Feb 17, 2002 11:33 am

RE: Independent Firm To Review UA's Plan

Sat Oct 23, 2004 1:06 pm

Mark my words, UAL will be the strongest carrier in 2 or 3 years. They are making strides and changes that no other carrier is doing. DL will be BK soon, US will most likely survive but smaller, and UAL will grow.


UAL 777 CONTRAIL
 
Bicoastal
Posts: 2446
Joined: Wed Oct 06, 1999 5:56 am

RE: Independent Firm To Review UA's Plan

Sat Oct 23, 2004 10:22 pm

United needs to somehow encourage its longterm employees to retire. I was on the people mover at Dulles the other day and heard a lot of bitching, moaning and bitterness from rampers about pension problems and pay cuts. I don't blame them, but their attitudes do not bode well for turning the airline around. An airline needs motivated employees with good work ethics. I feel sorry for them but the industry has changed. Either they put up and shut up or move on to retirement and/or another job.
Airliners.net has many forums. It has spell check and search functions. Use them before posting!
 
klwright69
Posts: 2343
Joined: Mon Jan 17, 2000 4:22 am

RE: Independent Firm To Review UA's Plan

Sun Oct 24, 2004 8:47 am

Open message to UAL777contrail.........

In the past, I have criticized your posts (with valid reason). But after reading your post in this thread, my hat is really off to you for your unshakeable confidence and pride in UA. I believe you ought to have some UA VP read your posts and see if you can get a position "rallying the troops" and boosting morale at UA. Although I have never met you in person, you seem cut out for the role.

It is that same kind of VISION and "can-do" attitude that will make the difference in the face of adversity!!
 
FriendlySkies
Topic Author
Posts: 3540
Joined: Fri Aug 13, 2004 3:57 pm

RE: Independent Firm To Review UA's Plan

Sun Oct 24, 2004 10:30 am

I completely agree with klwright69. That's why ual777contrail is on my RU list. Big grin

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