Liquidation of Air Canada a great final chapter in Milton's book, no?

This past weekend we found out that Robert Milton, Chief ExtraOrdinaire at Air Canada, had a book contract to tell his side of his wunder-story. How he beat Canadian, then beat Onyx for Canadian, then did a host of other stupid things to run the national flag-carrier into the ground pissing off unions, investors, regulators, and the flying public at the same time. Ought to make for sympathetic reading, don't you think. Whatever, he's got his advance.

Let's hope that the manuscript isn't done and into the galleys already because this little story in the Toronto Star would make a fabulous epilogue. To quote:

The spectre of liquidation raised its head yesterday as Air Canada faced the possibility of losing Hong Kong businessman Victor Li as its major shareholder over a dispute with the airline's unions.
Li's Trinity Time Investments, which beat out New York investment firm Cerberus Capital Management to become the airline's proposed main investor, threatened Wednesday to 'walk away' and abort its planned $650 million investment in the airline unless the unions agree to changes in pensions. . . . . 'I think that would put Air Canada in very considerable jeopardy of actually being liquidated,'" [said Karl Moore, professor of business strategy at McGill University].

You go, Bob.

Posted by Grayson at March 19, 2004 08:36 AM