New post on Scotty Starnes's Blog |  | Unions continue to be the leeches upon society and business. FORT WORTH, Texas (AP) — American Airlines' parent companyis seeking Chapter 11 bankruptcy protection as it seeks to unload massive debt built up by years of accelerating jet fuel prices and labor struggles. Obama's anti-drilling policies can be blamed and so can his beloved unions. The nation's third largest airline also said its CEO Gerard Arpey will step down. He's being replaced by Thomas Horton, currently the company's president. Fort Worth, Texas-based AMR Corp., along with its regional affiliate AMR Eagle Holding Corp. said Tuesday that they filed voluntary petitions to reorganize. American says it sought protection to reduce its costs and debt to remain competitive. The airline says it will continue normal flight operations during the reorganization. American was the only major U.S. airline that didn't file forbankruptcy protection after the 2001 terrorist attacks. The last major airline to file for bankruptcy protection was Delta in 2005. American says labor-contract rules force it to spend at least $600 million more than other airlines. They charge an arm and a leg for tickets, yet they file bankruptcy because of fuel and labor costs. This is what happens when unions get involved. The service sucks, costs more and eventually the industry dies. Look at the steel industry for a prime example of what unions cause. Continue reading>>> | | | | |
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