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The Department of Justice has filed a request asking the U.S. Bankruptcy Court in Manhattan to...

The Department of Justice has filed a request asking the U.S. Bankruptcy Court in Manhattan to block the outline of AMR's (AAMRQ.PK) merger with US Airways (LCC), partly due to the $19.9M severance package that would be paid to outgoing AMR CEO Tom Horton. The DOJ's move follows the rejection of the package by Judge Sean Lane in March even though he approved the merger.
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Comments (6)
  • nemonemo
    , contributor
    Comments (334) | Send Message
     
    Holder wants a share of it.
    26 May 2013, 03:49 AM Reply Like
  • zuesss_99
    , contributor
    Comment (1) | Send Message
     
    No matter what happens the rich keep getting richer.
    26 May 2013, 10:23 AM Reply Like
  • bdarken
    , contributor
    Comments (499) | Send Message
     
    The shareholders are stupid!
    Redistribution! It's not fair!
    Justice for my peeps!
    26 May 2013, 09:02 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (5915) | Send Message
     
    If shareholders block the merger, (AAMRQ.PK) will bankrupt, and they will get nothing. I would prefer to get something over nothing. Plus, shareholders should be happy considering that (AAMRQ.PK) has risen some 100% in the last 6 months.
    26 May 2013, 10:26 AM Reply Like
  • MexCom
    , contributor
    Comments (3067) | Send Message
     
    I agree the amount in question is small compared to the benefit to legacy AMR shareholders. I am still holding my preferred shares in hopes the merger will go through but if it falls apart, I'm still expecting a full payment of all the defaulted dividend payments. The shares are quoted well above par right now. There is no reason to not come up with a beneficial settlement for all parties. They are making money right now and fuel prices are declining. The economy is improving increasing demand for air travel.
    26 May 2013, 10:51 AM Reply Like
  • teddybear33
    , contributor
    Comment (1) | Send Message
     
    The people who were not at the controls during the crash should be rewarded...Not the parties that caused it! Save some for the shareholders who supported the airline,not ruined it!
    26 May 2013, 11:22 AM Reply Like
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