The problems at American Airlines just keep piling up.
After declaring bankruptcy last week and starting this week by tossing actor Alec Baldwin off a flight, the troubled carrier closed the week by losing four of its top executives, including CEO Gerald Arpey.
The executive defections came after all four, and especially Arpey, disagreed with the airline board's decision to file for Chapter 11 bankruptcy protection - a ploy used by its competitors to strip airline employees of negotiated contract deals, claw back or eliminate pension plans and deny suppliers of money owed.
I'm not sure whose dummer, banks who lend money to airlines or ones who lend money to European countries. The result is always the same - bankruptcy.
Restructuring the airline will be made harder because of the executive revolt but you can bet AA will find other cutthroat execs who will find ways to screw employees and creditors.
AA is not the first airline and won't be the last to misuse Chapter 11 for its own advantage - think Wall St. greed here folks - but one wonders why the U.S. government, which touts standing up for the middle class, doesn't stop this nonsense which always results in higher costs to the middle class flyer.
Oh, but of course, the U.S. government's is also bankrupt - of money and integrity!
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