News-Line 70

	70	PHL News-Line 70	March 16, 2003
	In This Issue -	"US Airways Names Post-Bankruptcy Board" and More!...	Issue #12

IMPORTANT READ: This is the PHL News-Line 70 from Mollie McCarthy LECP. If you would like to respond to Mollie, please use this email address mmccarthy@afausairways.org. This newsletter is also available on the PHL page of AFA US Airways. Subscribe to News-Line 70 from here.

Dear Council 70 Flying Partners,

Thought you might like to know who RSA will fill their 8 seats on the US Airways BOD, an interesting group of folks to say the least.

US Airways names post-bankruptcy board

US Airways Group Inc. and the Retirement System of Alabama Friday filed court documents naming the eight members of the board of directors for the airline once it emerges from Chapter 11 bankruptcy.

According to Dow Jones Newswires, a hearing to consider confirmation of the plan is scheduled for Tuesday.

Under the proposed plan, the Retirement System of Alabama — one of the airline's top creditors — will inject $240 million into the reorganized company in exchange for a substantial equity stake.

The proposed board members are:
David G. Bronner, Rono J. Dutta, Cheryl Gruetzmacher Gordon, Bruce R. Lakefield, John A. McKenna, Hans Mirka, James M. Simon Jr. and William T. Stephens.

Bronner has been the chief executive of the Retirement System of Alabama, also known as RSA, since 1973, according to court documents. Bronner serves on the board of directors of the New Water Street Corp. and Children First, on the editorial board of the Southern Business & Economics Journal for Auburn University at Montgomery, and on the Board of Visitors of the University of Alabama School of Business.

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Dec15 Sep 16

Dec 2

Aug 22

Nov 24 Aug 1

Oct 25 Jul 24

Oct 9 Jul 1

Dutta was vice president of United Airlines Inc. from 1985 through 2002. Dutta serves on the board of Marscico Capital and the board of trustees of the Ravinia Festival. He is also a past member of United's board of directors, according to court documents.

Gordon is a partner at Apollo Management LP From 1994 until 2000, Gordon was senior managing director for Rothschild North America Inc. Prior to that, Gordon was executive vice president at Jacobs Investors Inc. Gordon serves on the Iowa State University board of governors and as a trustee for the Mount Sinai Medical Center, according to court documents.

Lakefield was chairman and chief executive of Lehman Brothers International ( Europe) from 1995 through 1999. Lakefield is a senior adviser to the investment policy committee of HGK Asset Management and a non-executive director of Constellation Corp. PLC. McKenna is a managing director at Houlihan Lokey Howard & Zukin. McKenna has also served as a panelist on restructuring and investment banking topics before the World Bank (News - Websites) and the American Bankruptcy Institute, according to court documents.

Mirka has worked in the airline industry for 32 years. Mirka served as senior vice president and vice president at American Airlines from 1989 through 1998. Prior to that Mirka held executive positions at Pan American World Airways and Continental Airlines, according to court documents.

Simon worked for the Central Intelligence Agency from 1975 through 2003. He recently completed a three-year presidential appointment as the assistant director of central intelligence for administration. He is a member of the United Devices Inc. board and president and senior founding partner of Intelligence Enterprises LLC, according to court documents.

Stephens is a general counsel to RSA. Stephens has also served as special counsel to the Alabama state legislature and was an assistant attorney general in Alabama. He serves on the board of the New Water Street Corp., according to court documents. When it filed for Chapter 11 protection Aug. 11, 2002, US Airways listed about $7.81 billion in assets, $10.65 billion in liabilities and $8.3 billion in annual operating revenue.

IN THE NEWS

Below are links to a few recent news articles I thought you might also find interesting. Just click. All news articles and updates can also be found on the PHL Web Page at www.afausairways.org/phlmain.html.

Being a wee bit Irish myself, it just would not seem right if I did not take advantage of this particular time to send you an Irish Blessing. I hope it chases away a bit of the doom and gloom, if only for a moment.

Irish Blessing

May you always have...
Walls for the wind
A roof for the rain
Tea beside the fire
Laughter to cheer you
Those you love near you
And all your heart might
Desire

Take Care, Fly Safe and May your joys
Be deep and many,
May your heart
be light and glad,
May you have the best
St. Patrick's Day
That you have ever had

'Tis Herself
Mollie McCarthy
LEC President
Local 70