Monte leaves Air Canada

[orbit]

Monte leaves Air Canada...!

Is this a plan for bankruptcy protection like last time or ..a better skilled guy to handle this airline during these economic times???
Will see what the market will do tomorrow ,,,that will say lots!

[Hey Piiilot]

WikiAnswers:

When there were wooden ships in common use, there would always be rats on board. If the ship were to sink the rats would jump off and swim away because they knew the ship was sinking and that they needed to swim to safety/shelter.
The phrase is now used to refer to people who ditch a lost cause because they weren't committed to it. Unlike the captain and men on the ship who would have tried to save it the rats just fled. Unlike the creators of a cause would try and keep the cause afloat (if you'll excuse the pun) whereas the tag along followers just there for the ride (again an interesting pun - thus why this phrase fits so nicely) would just ditch it.


(in a german voice) Soundz zee alaarm!!

[. ._]

http://www.cbc.ca/money/story/2009/03/3 ... s-ceo.html

AWESOME! I gotta send them a resume! As I have said before, I will gladly run the company into the crapper for one tenth of his salary.

I really should start applying for some jobs to keep EI happy.

-istp

[pika]

http://business.theglobeandmail.com/ser ... iness/home

"One of the top priorities will be addressing Air Canada's pension shortfall, which stood at $3.2-billion on Jan. 1, 2009, up 174 per cent from a $1.17-billion deficit at the start of 2008. Air Canada warns that it could be forced to contribute up to $866-million to its pension plan this year under current federal rules, up from $456-million last year."

Recall the $1 billion in losses last year. Good luck to all...

[orbit]

This after Milton and another CEO got $42 million in severence pay a month or so ago I read?
I should've applied for that job!,,

[yfly]

No CEO of an airline has an objective or measures success by the employment of pilots. Success is measured by returns to shareholders and creditors. Even if that means dismembering the entity and its demise after extracting every penny of worth. We are looking at the dismembered carcass of what was once a great airline. The greatness of the airline is measured in different ways by the different groups. Monte did his job and did it well. The employees are left holding the bag.

[yycflyguy]

The greatness of the airline is measured in different ways by the different groups. Monte did his job and did it well.

... oh, you were serious?

[yfly]

As a happy investor, yes, I was serious. As a pilot, no, but as I stated, he wasn't there to make jobs for pilots.

[Campanola]

Open your wallet guys.
It will be the "too big to fail" story again...

Milton the illusionist did a very good job... for himself.
The stockholders (Milton's boss) are also there for short term gain and they don't care about the long term viability of the company they temporarly hold.

[Airbrake]

http://watch.bnn.ca/clip155848#clip155848

[balfour]

50-70 airplanes parked. Unbelievable. Think it's more shock talk but still scary to think about. I sure hope that never happens.

[Inverted2]

And look who is back. Calin. Wasn't he responsible for butchering up everyones wages and benefits during the previous bankrupcy?

[C-FABH]

ಠ_ಠ

Feels bad man

[twinpratts]

WikiAnswers:

When there were wooden ships in common use, there would always be rats on board. If the ship were to sink the rats would jump off and swim away because they knew the ship was sinking and that they needed to swim to safety/shelter.
The phrase is now used to refer to people who ditch a lost cause because they weren't committed to it. Unlike the captain and men on the ship who would have tried to save it the rats just fled. Unlike the creators of a cause would try and keep the cause afloat (if you'll excuse the pun) whereas the tag along followers just there for the ride (again an interesting pun - thus why this phrase fits so nicely) would just ditch it.

How do you expect anyone at the company to take ownership now you A$$hole?
Lead by example, you spineless pencilneck.

[yycflyguy]

As a happy investor, yes, I was serious. As a pilot, no, but as I stated, he wasn't there to make jobs for pilots.

I assume you bought into the ACE preferred stocks after exiting CCAA to be "a happy investor". As someone in the aviation industry you should realize how this company has been stripped to bare bones and any future sustainability has been eroded to provide a quick buck for executives and shareholders. I hope your greed in making $100 of stock doesn't affect the future of Canadian aviation industry and the 25,000 plus employees that actually give a damn about the survivability of the airline. Montie was not the CEO of ACE so your comment about him doing his job well is laughable.

[yycflyguy]

Consensus is that we have gone from bad to worse with the appointment of Calin Rovenescu. The comments in this thread viewtopic.php?f=31&t=52266 are pretty sedate compared to what is being said on the ACPA forum. Iceberg dead ahead.

[wallypilot]

As a happy investor, yes, I was serious. As a pilot, no, but as I stated, he wasn't there to make jobs for pilots.

the investors in Air Canada got screwed. The Air Canada "IPO" in 2006 (what a joke, they had already erased all the equity in the former Air Canada) was at a stock price of around $26, if memory serves....or maybe $21. Regardless, it's now pretty much a penny stock, and AC investors got totally hooped by the conflicting interests of ACE Holdings directors. The few preferred shareholders in ACE Holdings got rich after dismembering AC for their personal gain. This is not good leadership, nor is it good management. It's profiteering. Over the centuries, the word profiteer and pirate were often used interchangeably.....milton was nothing more than a corporate pirate that plundered AC for all it was worth and left an empty vessel to fend for itself. It's technically legal, but in an "advanced" society such as our own, there should be laws against it.

What milton did was criminal. It's a legalized form of theft. Just because something can be done without contravening any laws does not make it appropriate, or in the best interest of anyone but a few that have no interest in the success of anyone but themselves. Maximizing shareholder wealth is proving to be a poor method to run a company. Look at all the huge companies that are screwed now because their primary objective was shareholder wealth maximization.

'Nuff said.

[Dark Helmet]

Deleted

[yycflyguy]

As a happy investor, yes, I was serious. As a pilot, no, but as I stated, he wasn't there to make jobs for pilots.

the investors in Air Canada got screwed. The Air Canada "IPO" in 2006 (what a joke, they had already erased all the equity in the former Air Canada) was at a stock price of around $26, if memory serves....or maybe $21. Regardless, it's now pretty much a penny stock, and AC investors got totally hooped by the conflicting interests of ACE Holdings directors. The few preferred shareholders in ACE Holdings got rich after dismembering AC for their personal gain. This is not good leadership, nor is it good management. It's profiteering. Over the centuries, the word profiteer and pirate were often used interchangeably.....milton was nothing more than a corporate pirate that plundered AC for all it was worth and left an empty vessel to fend for itself. It's technically legal, but in an "advanced" society such as our own, there should be laws against it.

What milton did was criminal. It's a legalized form of theft. Just because something can be done without contravening any laws does not make it appropriate, or in the best interest of anyone but a few that have no interest in the success of anyone but themselves. Maximizing shareholder wealth is proving to be a poor method to run a company. Look at all the huge companies that are screwed now because their primary objective was shareholder wealth maximization.

'Nuff said.

Well said. You would think that at least one of these MBA's didn't sleep through ethics. Was it legal, yes. Unethical, immoral and unscrupulous? Absolutely.

For those of you not with AC or WS but with aspirations to join a Canadian 705 operator, you should be paying close attention as this next year will pave the road that you want to travel down one day.

[yfly]

As a happy investor, yes, I was serious. As a pilot, no, but as I stated, he wasn't there to make jobs for pilots.

the investors in Air Canada got screwed. The Air Canada "IPO" in 2006 (what a joke, they had already erased all the equity in the former Air Canada) was at a stock price of around $26, if memory serves....or maybe $21. Regardless, it's now pretty much a penny stock, and AC investors got totally hooped by the conflicting interests of ACE Holdings directors. The few preferred shareholders in ACE Holdings got rich after dismembering AC for their personal gain. This is not good leadership, nor is it good management. It's profiteering. Over the centuries, the word profiteer and pirate were often used interchangeably.....milton was nothing more than a corporate pirate that plundered AC for all it was worth and left an empty vessel to fend for itself. It's technically legal, but in an "advanced" society such as our own, there should be laws against it.

What milton did was criminal. It's a legalized form of theft. Just because something can be done without contravening any laws does not make it appropriate, or in the best interest of anyone but a few that have no interest in the success of anyone but themselves. Maximizing shareholder wealth is proving to be a poor method to run a company. Look at all the huge companies that are screwed now because their primary objective was shareholder wealth maximization.

'Nuff said.

I agree with your comments on ethics but that is how business is conducted. Hedge funds boys! Short selling. Great ways to make money on an airline company.