Word: strikes
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Dates: during 1980-1989
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That set the tone for the showdown. U.S. Transportation Secretary Samuel Skinner, announcing that President Bush refused to intervene in the Eastern strike, could not resist a verbal shiv of his own. "Mr. Lorenzo," he said, "has obviously not got the trust and admiration of his employees." As unionists burned an effigy of the Texas Air chairman, their leaders laid ambitious plans to expand the strike through a series of secondary boycotts that would tie up commuter traffic across the country -- a nightmare that was averted when judges in several cities slapped temporary restraining orders on strikes of intercity rail...
Even so, Eastern's determination to keep planes in the air during the strike quickly unraveled as pilots refused to cross picket lines. Since he took over Eastern in 1986, the pilots charged, Lorenzo has systematically stripped the airline of its most valuable assets, leaving it too small and weak to compete...
Union workers were not the only ones swept up in the battle. As the strike strangled airline operations, 9,500 nonunion secretaries, ticket agents and other workers were laid off. Aside from making a handful of flights between Miami and Latin American cities, the airline concentrated its efforts on keeping the Northeast shuttle flying so that the cash-rich deal with Trump would not fall through. To attract passengers, Eastern offered a temporary fare of $12 for weekend shuttle flights from New York to Washington or Boston, a fraction of its usual rate of $69. The tactic worked: the first...
...USAir for $70 million. It picked up $15 million more by agreeing to sell its Philadelphia-Toronto and Philadelphia-Montreal routes to USAir. In addition, Eastern leased landing slots on its New York-Miami routes to Continental. Accusations flew that Lorenzo was dismantling the airline even during the strike. Responded Lorenzo angrily: "Had we sold assets quicker, Eastern wouldn't be in bankruptcy today." Along with the shuttle sale to Trump, the deals with USAir will have to be approved by the bankruptcy judge...
...Lorenzo. But they too will lose clout under Chapter 11. For one thing, the bankruptcy court has the power to set terms for a contract settlement. But the unions will also be able to file a reorganization plan for the airline. Union leaders gave every indication that the strike will continue. At week's end its focus turned to picketing Continental facilities at airports in Miami, Houston, Denver and Newark...