The 14 month battle for control of American Airlines came down to two men who got their start there. When the airline filed for bankruptcy in November 2011, Tom Horton was simultaneously elevated to CEO. But from the minute he reached the top, a number of forces started converging against him. The airline's unions didn't trust him. Those owed money by American questioned his plans. The strongest opposition, however, soon came from his old friend Doug Parker. The two had worked side by side as financial analysts at American's Fort Worth, Texas, headquarters in the 1980s, until Parker moved on to other airlines, eventually becoming CEO of rival US Airways. Parker had spent the last five years looking to merge with another airline. With American in bankruptcy, he sprang into action. By the end of the year, the 51 year old Parker will be at the helm of a combined American and US Airways the world's largest airline. Horton, also 51, will serve as chairman for about a year and then depart the company he worked at for nearly a quarter century. For his efforts, he will receive $19.9 million in cash and stock as well as a lifetime of free first class tickets on American for himself and his wife. Parker and Horton have spent most of their lives in the airline business. But that's about where the similarities end. Horton is a buttoned up guy who loves long runs and starts each morning with a bowl of oatmeal and freshly cut Texas peaches. Parker, on the other hand, is easily the life of a party. He commands a room and fills his conversations with energy. There was never going to be room for both at the top of American. Horton and Parker declined to comment but interviews with executives, union officials, lawyers and others connected to the deal agreed to late Wednesday outline how it was filled with tactical negotiations, clandestine meetings and gut wrenching decisions. The prize: A chance to bring American back to its glory days. Horton initially was safe in his job. When American's parent, AMR Corp., filed for bankruptcy five days after Thanksgiving in 2011, it did so from a unique position. It had lost more than $12 billion during the past decade but still had $4.1 billion in cash. That meant it didn't need to borrow money to keep operating, and that gave Horton more autonomy and control over the company's fate. His first task was to get the airline to stop bleeding money. Aircraft leases and vendor agreements were quickly changed. The airline reviewed every part of its revenue and moved to cut labour expenses. This was not the time to work out a merger, although Wall Street analysts were already speculating. The official line became: American was open to a merger, but only after it emerged from bankruptcy protection. Horton's preference was for American to remain an independent airline. The unspoken reason was that American wasn't worth as much as executives hoped it would be later. And that's exactly why Parker wanted to move quickly, while he still had the upper hand and could pay significantly less. US Airways hadn't signed new contracts with its unions in years. That was benefiting shareholders. Eventually, Parker would need to pay out large raises which would weaken his position in any merger. Time was of the essence. In January 2012, Parker decided to shop around his idea for a merger on Wall Street and in Washington. He wasn't the only one floating the idea of a merger. Horton was also feeling pressure from American's creditors, who were owed $29.6 billion. Bankruptcy law gives a company 18 months to exclusively present its own plan to return to profitability. The creditors and judge have to sign off on the plan but typically sit on the sidelines. American's creditors took a much more active role. It started with their choice of lawyers. After American filed for bankruptcy protection, the creditors interviewed several law firms in a basement ballroom of the Sheraton New York Times Square Hotel. "You have to decide whether you are going to be proactive or reactive," Jack Butler, of Skadden Arps Slate Meagher Flom, told the committee. The creditors chose proactive, and Butler's team was hired. It probably helped that Butler had represented US Airways in its 2002 bankruptcy and Skadden's head of restructuring, Jay M. Goffman, had worked closely with Parker after 9 11, when Parker ran America West. Skadden was also America West's counsel when it later merged with US Airways. "We said: You should pick a firm that does a lot of deals," Goffman recalled. The full press started in February 2012, when the committee's lawyers invited Horton and two of his top lieutenants to a dinner at the firm's Times Square office. There, 38 floors above the city, overlooking the Empire State Building, creditor representatives talked about the merits of a merger. They didn't like American's plan to stay independent, thinking they could get back more of the money they were owed through a merger. Horton stood firm, preferring to consider a merger only after American emerged from bankruptcy. David Bates, who was head of American's pilots' union at the time, was worried that the airline's plan would fail and the company would shortly return to bankruptcy. He also wanted to stop Horton from gutting his members' pay and benefits. So he turned to US Airways for a better deal. "If we had hope of a better outcome, I needed to move very quickly," Bates said. Through a mutual friend, he set up a dinner on March 12, 2012, with Scott Kirby, president of US Airways and Parker's right hand man. They were both in New York for an investor conference and met at Oceana, an upscale seafood restaurant in the heart of Manhattan. 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Offers You Many High Quality Men Nike Free Run 2 Shield Grey Black Purple,Men Nike Free 4.0 Game Royal Blue Electric Green Pure Platinum I'm Stephen Taylor, Endurance Coach and Fitness Trainer. Today we're going to talk about how to ride a bicycle downhill. The materials you'll need for this activity include a bicycle and a helmet for safety. You may also choose to wear bicycling a pair of such as a jersey shorts and bike shoes. Let's talk about the safety considerations for riding a bicycle downhill and then we'll talk about how to improve your speed. First, when riding a bicycle downhill, the most important thing is to stay in control. The key is to brake early enough so that you feel that you are in control of your bicycle while going down the hill. This involves using both brakes; but a little more pressure on the back brake than the front brake. Another thing that will help you feel in control of your bicycle is if you move your center of gravity slightly rearward on the bicycle. This simply involves siding your booty a little bit towards the back of the bike seat. While going down a hill you have gravity on your side, you may feel like you're out of control. A good tip here is to take a deep breath and try to relax while you're going downhill. With a little practice, you'll feel that you can achieve faster speeds on a downhill before you feel tense and out of control. If you're looking for a speed advancing your cycling, hill is a great to do it. The best way to get speed on downhill is to surge the top of the hill as it slope from flat into downhill. Do this by putting the gearing choice into a harder gear and put that pressure on the pedals. Keep the pressure on the pedals until you reach top velocity on the downhill. In summary, when you're riding downhill make sure that you ride at a pace that you feel under control. You can maintain this sense of control by siding your hips back for good balance on the bike using both brakes judiciously and if you're looking for a little extra speed, put the pedal to the middle starting at the top of the hill. Men Nike Free Run 2 Shield Grey Black Purple Vandal announced in the fall he won't be running for council again, as he's set his sights on the Liberal nomination for Saint Boniface in the 2015 federal election. Allard opened a communication consulting business in April 2013. He's the part time CEO of the Francophone Chamber of Commerce and president of the Old St. Boniface Residents Association. Allard said he'll be formally launching his campaign in early July. Add another name to the list of people who want to be mayor of Winnipeg. River Heights Coun. John Orlikow confirmed he will run for the top job in the Oct. 22 election. "I've still got to dot a few Is and cross a few Ts, but yeah," Orlikow said. "Our intention is to run." Orlikow is known as a progressive on council, often disagreeing with and voting against Mayor Sam Katz. His entry adds some confusion to the centre/left wing spectrum. Former New Democrat MP and MLA Judy Wasylycia Leis is mulling another run for mayor she finished second to Katz in 2010 and early polls indicate she can beat a crowd of right wing candidates. Wasylycia Leis has invited supporters of her 2010 campaign to a public meeting Feb. 2 to discuss the upcoming campaign, her chances of running again and other possible progressive candidates. Orlikow said he's not worried about Wasylycia Leis as a candidate, adding polls show her support has stalled at 45 per cent about the same level she had when she lost to Katz in 2010. Orlikow said his polling shows he can easily out draw Wasylycia Leis against a field of right wing candidates. "I don't think anyone should be trying to run (for mayor) to get less than 50 per cent," Orlikow said. "My numbers indicate I can achieve that goal with everything working right. My goal is 70 per cent (of the vote). I don't want to win with 30 per cent." The only other declared candidate for mayor so far is former St. Vital Coun. Gord Steeves. However, others from the right/centre right spectrum who are considering include Couns. Scott Fielding (St. James Brooklands) and Paula Havixbeck (Charleswood Tuxedo), and privacy lawyer Brian Bowman. Fielding has said he will not run again as a councillor. Mayoral candidates cannot register their campaigns until the end of April and are prohibited by the City of Winnipeg Charter and the city's campaign expenses bylaw from raising or spending any campaign funds until they've registered. Orlikow said before he makes his candidacy official, he will find a suitable replacement as councillor. "I want to make sure I have a good candidate here to represent the neighbourhood well," Orlikow said. "I'm in that process now." Orlikow was elected to council in the March 17, 2009, byelection, following the death of Coun. Brenda Leipsic in December 2008. Orlikow had been a trustee with the Winnipeg School Division and was chairman of the board when he ran for council. While he avoids political labels, Orlikow was backed by Liberal and NDP affiliated politicians and supporters in his byelection victory over CJOB on air personality Geoff Currier. Nineteen months later, Orlikow defeated sandwich shop owner Michael Kowalson in what was seen as the most bitter, contentious ward battle of the 2010 civic election campaign, which fed off public anger over the construction of traffic circles.
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