Articles tagged “bankruptcy”

How American and US Air will ultimately decide on Horton's severance package is the only outstanding issue from the bankruptcy proceedings.

The details of American Airlines' reorganization plan and the fate of CEO Tom Horton's $19.5 million golden parachute should become clear over the next few days.

It is difficult to stomach giving $20 million to a CEO of an airline in bankruptcy, a company that resisted a merger and has been bleeding losses over the last few years.

The merging airlines have argued that Horton's package shouldn't be considered in the bankruptcy hearing since he'll be paid after the exit and once the consummation is complete. While it violates the spirit of the law, the judge will ultimately decide if the letter is violated, too.

Horton's generous package was one of the biggest deal points during negotiations and the judge's move, if upheld, could put parts of the deal in jeopardy.

Horton's package will result in some comment from the judge, but it's recognized it's a small amount to pay compared to the chunk of change he would have received if American would have exited bankruptcy independently.

Atlantic City can't get a break from its sordid past, and current woes. Revel was way too ambitious, tried to do too much, too soon.

Will the new funding, new owners and lower capital cost structure save LodgeNet? For now, but bigger picture writing's on the wall, as consumers increasingly use their own devices in hotels.

In love and mergers, sometimes it is wiser to play hard to get. At any rate, this romance will soon move to a new level, or be shattered like a broken heart.

AMR Corp.'s request to extend its restructuring-plan to April 1 makes it appear as if a merger with US Airways is being seriously considered, and would be no April Fool's joke.