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Rivals Invade Southwest's Air Space
(full article in first comment) But as Chief Executive Gary Kelly acknowledged last week in a memo that is still reverberating among investors, employees and airline rivals, the discount part is waning. Mr. Kelly's missive to 38,000 employees warned that if cross-town rival American Airlines emerges from bankruptcy-court protection, it will have substantially lower costs than before and will join the other remade "legacy" carriers that are giving Southwest a run for its money in… (online.wsj.com) Más...Chapter 11 is pretty much a joke in its present form. If there were only chaprter 7 or if all upper management had to be replaced(and no golden parachutes) if they filed chapter 11, perhaps these companies would be run differently. As it is upper management has no fear of going broke and at times seem to embrace it.
JW, what do you possibly know about the nuances of bankruptcy law?
Don't know about the nuances but I can see the crap. We can't pay our bills so we selectively stiff certain creditors and at the same time were purchasing new equipment so we can be ahead of our competition. What a business tool. Rewards incompetence. The " connected" will get rich on the deal. Hell, I'm surprised the fed didn't just give some taxpayer money so we all could share in the haircut.
And the EU deadline for all US based airlines is till set vs. emissions law passed
for Jan 1st ?
for Jan 1st ?
Maybe dip shit will understand this too.