American Airlines Bankruptcy may hit Fort Worth Economy very hard (Houston: university, wages)

[Exult.Q36]

When American Airlines' parent, AMR Corp., filed its bankruptcy petition Tuesday, it started a wave of uncertainty that will spread through the North Texas economy, from the fate of more than 24,000 area workers, to its presence at Dallas/Fort Worth Airport, to the millions in taxes it pays to local governments.
But experts say the effect will probably be more like a ripple than a tsunami.
Economists, academics who study the aviation business and industry consultants are relatively unworried about how the airline's Chapter 11 bankruptcy reorganization will affect the broader Fort Worth-Arlington economy and the airport in particular. "Right now, the answer is, 'We don't know,'" said economist Bud Weinstein, a longtime observer of the area economy and director of the Maguire Energy Institute at Southern Methodist University in Dallas.

According to its latest regulatory filings, AMR paid nearly $4.8 billion in wages and benefits to its 88,000 employees during the first nine months of the year, or $81 million more than in the same period a year earlier. More than a quarter of those workers are in North Texas.



"My own reaction was, It's good news," said Texas Christian University professor Dan Short, who calls himself an interested observer of the finances of area companies. "I think you would have seen American Airlines slowly bleed to death" without it, an outcome he termed "devastating" for the area.


Read more: http://www.star-telegram.com/2011/12/04/3568847/american-airlines-bankruptcy-to.html#my-headlines-default#ixzz1fbOkYi6A

[Philip T]

Meeerrrryyyy Christmas!

[HtownLove]

The more important question is how will this affect Houston??

[Exult.Q36]

Originally Posted by Philip T

Meeerrrryyyy Christmas!

I don't think people possibly losing there job = a Merry Christmas

[Exult.Q36]

Originally Posted by HtownLove

The more important question is how will this affect Houston??

Houston caters to the Oil industry...Houston will be fine...Depending on how AMR restructures a lot of people might end up with lower wages or without jobs....Not good

[HtownLove]

pfffft AA gets me to more areas in the Caribbean directly than United or stupid Delta. That is why I go up to your mediocre metro so often.







lol, just kidding. I go to your mediocre metro for other things too. lol.

[CptnRn]

Originally Posted by Philip T

Meeerrrryyyy Christmas!

Originally Posted by kdogg817

I don't think people possibly losing there job = a Merry Christmas

Definition: i·ro·ny
1. the use of words to convey a meaning that is the opposite of its literal meaning: the irony of her reply, “How nice!” when I said I had to work all weekend.

[Lee W.]

At least the company...and for the most part the employees...stand a chance of making it this way! Bankruptcy can be a good thing if it is done well.

[rock_chalk]

Is there a reason your thread title has so little to do with the content of the article?

[Philip T]

Originally Posted by CptnRn

Definition: i·ro·ny
1. the use of words to convey a meaning that is the opposite of its literal meaning: the irony of her reply, “How nice!” when I said I had to work all weekend.

Well, of course.

But then the Adult Diaper side of C-D can be a grumpy crew.

After years of suck-up to every Slimey Corporation in the US -- and AA is one of the Slimes -- that is going to start biting the whole DFW area in the butt.

As the collapse continueth.

Just glad this pack of dirtbags did not owe me money.