scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,243
- - Eastern Airlines Facing Bankruptcy In 1986 Eastern Airlines was in desparate trouble The fourth quarter of 1985 had shown a 674 million loss and financially experts had told Frank Borman president and chief executive officer that the airline had three choices 1 a 20 percent pay cut for all union and noncontract employees 2 Filing for Chapter 11 bankruptcy or 3 Selling the airline On February 23 1986 Easterns board of directors met to decide the fate of the company Frank Borman quickly left his home in Coral Gables to Building 16 at Miami International Airport that Sunday evening to discuss plans on saving the airlines The board of directors had recessed for dinner following afternoon session and was scheduled to convene at 730 pm At the earlier meeting Wayne Yeoman senior vice president for finance had spent most of the time outlining the details of Texas Airs offer to buy Eastern Frank Lorenzo and Frank Borman had been talking since December originally about consolidating the computerized reservation systems then as Easterns problems deepen about a possible sale As Frank entered his office he found his his loyal excutive assistant Wayne Yeoman and Dick Magurno Easterns senior vice president for legal affairs For about 20 minutes the three discussed the fourthcoming meeting and the prospects for saving the airline Negotiations were going to come around for ALPA and TWU but no break from the IAM The IAM would not budge since Charlie Byran head of the machinists union stood firm against a 20 percent wage cut At 730 the board meeting began with the discussion of the Texas Air offer concentrating on some of the conditions attached to the buying
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA