What about the pensions of the thousands of employees who held AMR Corp. stock?
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Robert Crandall hasn't changed much since stepping down six years ago from AMR Corp.
Now, Baker sees Continental down 31%, while AMR Corp. is getting close with a 26% drop.
Mr. Horton was only named CEO on November 29, 2011, the same day AMR Corp. entered Chapter 11 bankruptcy protection.
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The worst airline for baggage handling in the U.S. this year: American Eagle, the regional affiliate of AMR Corp.
Crandall retired last year, but his spirit lives on at AMR Corp.
Some 19.3% of its fund is in United Continental Holdings (UAL), with other holdings like Delta Air Lines and AMR Corp.
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Baker feels the current drop has been overdone, and, looking at the past decade, Baker noted that every time shares of AMR Corp.
"Airlines should have led the way in laying out a program, " says Robert Crandall, former chairman and chief executive of AMR Corp. and American.
"I don't think boards should have any say in their CEO's hobbies, " contends Gerard Arpey, a private pilot and former leader of AMR Corp.
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Lawyers were also trying to change the nature of the payment and re-characterize it as a bonus for negotiating the merger between AMR Corp. and U.S. Airways.
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So ostensibly then, big bonuses are a sine qua non if all these essential executives are to keep their apparently non replaceable skill sets in the service of AMR Corp.
Perched high on bench in his lower Manhattan courtroom, U.S. Bankruptcy judge Sean Lane sang the praises of the proposed AMR Corp. (parent of American Airlines) and U.S. Airways merger.
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Therefore the main redundancy of the surviving entity will be that all of the vice-presidents and other upper level managers at AMR Corp. will be replaced by the new bosses at U.S. Airways.
Implied volatility on the stock shot up 136.39% to 194.42% in early-afternoon trade on fears the U.S. may be heading into recession and concern AMR Corp. may need to eventually consider bankruptcy protection.
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Gary Kaminsky, who travels 100, 000 miles a year domestically, says he's gotten Precheck screening on about 80% of his trips so far out of Los Angeles International Airport, his home base, on AMR Corp.
American Airlines and TWA -- both owned by Dallas-based AMR Corp -- will no longer serve meals in the main cabin on most domestic flights and in first class on domestic flights under two hours.
Worst among major airlines: AMR Corp.
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Baker feels the current drop has been overdone, and, looking at the past decade, Baker noted that every time shares of AMR Corp. (nyse: AMR - news - people ), the parent of American Airlines, or Continental Airlines, pulls back 30% within a 31-day trading window, shares have consistently rallied over the next 180 trading days.
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