Bankrupt and Distressed (BAD) Research and Due Diligence

[mrholty]

I posted my thoughts on another board both initially when the rumors started up and again this morning. I am shocked by this. From an employee morale perspective this is a horrible time. Their pilot pay is competitive on a per hour basis but I believe they have some antiquated work rules that need to be cleaned up. They already have a two tier pension plan so that should be a small issue going forward.

Simply put there is no reason to do this before January. I feel bad for the employees who while it will be business as usual will have a right to be concerned. Long term it should allow AMR to shed some older leases, but frankly they owned most of their fuel hogs, and already had orders to replace them with new fleets which would help in this fuel $ enviroment.

I had bought some March 2012 calls thinking that a resolution would be announced to the pilot agreement after the holidays. They are now worthless and so will the commons.