AMR Corp. BANKRUPT. I'm done. BRAVO to Socialism!Submitted by pawnstorm12 on Mon, 02/06/2012 - 02:07
I work for American Airlines (for a little while yet anyway) and they decided to go bankrupt last November.
Now I'm going to lose my job.
But for 8 years we (the laborors) tried to avoid bankruptcy (by giving back a third of our wages and benefits in 2003) while every other major airline used bankruptcy laws to STIFF their creditors and COMPETE with us.
United, Delta, Continental, Northwest, U.S.Air and others went bankrupt, stiffed their shareholders and creditors, and then were allowed to MERGE and compete with us.
The market didn't care - They just bought up the newly issued airline stocks.
The government didn't care - They allowed the bankrupt airlines to keep operating while not paying their vendors and creditors.
The Dept of Transportation didn't care - They allowed them to merge into mega-carriers and set prices in our markets.
NO company can compete with this unfair playing field and it was practically inevitable that AMR Corp. had to fail.
So I'm going to become a government-dependent piece of crap (the way they want).
Who needs to work - We have unemployment and Obamacare.
BRAVO to Socialism!!!