With the filing, American became the final large U.S. full- fare airline to seek court protection from creditors. The Fort Worth, Texas-based company, which traces its roots to 1920s air- mail operations in the Midwest, listed $24.7 billion in assets and $29.6 billion in debt in Chapter 11 papers filed today in U.S. Bankruptcy Court in Manhattan.

“They will have to go through the whole process that their peers have gone through,” John Strickland, an aviation analyst at JLS Consulting in London, said today in a telephone interview. “It’s painful but probably necessary. They have fallen behind what others have done.”

Chairman and Chief Executive Officer Gerard Arpey, 53, will retire and be replaced by Thomas Horton, AMR said. Normal flight schedules will continue on American and its American Eagle regional unit, along with the airline’s frequent-flier program, the company said.

AMR was determined to avoid Chapter 11 in the years after the 2001 terrorist attacks, as peers used bankruptcy to shed costly pension and retiree benefit plans and restructure debt. American later watched as rival carriers combined, giving them larger route networks that were more attractive to lucrative corporate travel customers.

http://www.bloomberg.com/news/2011-11-29/amr-files-for-bankruptcy-protection-in-new-york-as-talks-with-pilots-end.html

http://blip.tv/wiv-news/american-airlines-files-for-bankruptcy-5614412

Duration : 0:1:26

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2 & Some Change 6/27/11 (Los Angeles Dodgers File for Bankruptcy) Sports

(S01E24)

“2 & Some Change” is a brand new show here on Machinima Sports where two hosts are put up against each other to discuss, debate, and argue the latest in the world of sports.

In this episode Constant and Respwan’s very own Shorewarz weigh in on the Los Angeles Dodgers filing for bankruptcy today. Is this fair? Is this good for the city of Los Angeles and its fans?

Head over to http://Facebook.com/MachinimaSports or tweet us at http://www.Twitter.com/MachinimaSports and state your case.

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This Sports video teaches you:
how to avoid bankruptcy
how to run an MLB team
how to play baseball

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:quality=high “2 & Some Change” 2&SC “Los Angeles” Shorewarz Anthony Respawn Baseball Pitcher Catcher Doyers First Second Third Home “Home Run” Bankruptcy “Bankruptcy protection” “Bud Selig” “Frank McCourt” MLB “Chapter 11″ “Fox Sports Deal” “3 Billion Dollars” Commissioner “Matt Kemp” “Andre Ethier” “Manny Ramirez” “Andruw Jones” “Chicago White Sox” Divorce “Jamie McCourt” “Tom Schieffer” “Clayton Kershaw” “Jonathan Broxton”

Duration : 0:3:52

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Duration : 0:1:1

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Duration : 0:1:2

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Duration : 0:1:12

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Duration : 0:0:34

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Duration : 0:1:41

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Duration : 0:2:55

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Duration : 0:1:12

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Duration : 0:2:15

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