We know that we will have to make sacrifices but we're hoping the bankruptcy judge will perceive what a disproportionate sacrifice Delta is trying to wring from this group of working women -- most of them mothers who help support families.
This type of bankruptcy is for the person who is barely making it, who can barely pay their rent or mortgage and food and has no extra money to pay debts. It relieves them of the debt and removes the creditors' rights to sue the debtor.
Filing for bankruptcy doesn't make this one go away, ... It may make it less urgent to deal with, but the fact of the matter is these guys are still on strike, and they're still hurting Northwest's business to some extent.
I would be extremely surprised if what the unions came up with was enough to keep United out of bankruptcy. Typically these unions have a lot of animosity with each other. I don't hold out a lot of hope.
We support credit counseling, especially if it's delivered early, and this is not early intervention. This is late intervention at the point where people have decided that bankruptcy is the only way for them. We just wonder whether this kind of late intervention will be helpful to too many people.
The law has a one-size-fits-all approach, ... It treats people who have been hit by hurricanes in the same fashion as people who have ended up in bankruptcy from gambling or overspending or misusing the credit they were given.