AMR

[Sandhog]

I have being keeping track of AMR since 2003 when their stock plunge during union contract negotiation only to to rise and keep rising until 2007 declining. But today reminds me of 2003 wanted to buy but didn't have the funds to invest since my marriage was on the rocks. Today, I have some money to invest but there are other companies to invest other than AMR. Nevertheless, for me American Airline is American Icon. Even they do file for bankruptcy, patriotic side of me wants to be part of the American Icon to go down together while dreamer of ER wants to stay away and go with more reliable blue chip dividend stocks. Anything with American in stock or America as whole, has been in dumps for while. But I still believe America is the greatest country in the world and all its company with American in their name including Bank of America will rise and shine again.

What your thoughts or opinion on investing in AMR?
AMR stock plunges on renewed bankruptcy fears - Yahoo! Finance

Quote:

NEW YORK (AP) -- The stock of American Airlines parent company AMR Corp. tumbled Monday, at one point falling nearly 40 percent, on renewed concerns that the carrier could be headed for bankruptcy protection. Shares lost 84 cents, or 28 percent, to trade around $2.12 in early afternoon trade after plummeting to their lowest point in 8 years. The stock has not closed below $2 since 2003. A major airline trade group, The International Air Transport Association, said Monday that the industry may be headed for a downturn. American Airlines is considered to be in the most vulnerable financial position of major U.S. carriers. Morningstar analyst Basili Alukos said Monday he believes AMR implemented "its last-ditch effort to return to profitability" when it spun-off its regional carrier and said it would place a record order to buy 460 planes to quickly address its aging fleet. American Airlines is the only major airline that has not filed for bankruptcy protection in the last decade, leaving it saddled with higher costs for everything from labor to financing. American is the only major airline that has lost money this year. Fort Worth, Texas-based AMR. lost $286 million in the second quarter alone.

[harley]

I think buying (or bailing out) a company because they have America in their name is an excellent technique. Go for it! I'm sure that's the reason Warren Buffett bought BofA.

[Sandhog]

Quote:

Originally Posted by harley I think buying (or bailing out) a company because they have America in their name is an excellent technique.

That reminds me about how my Aunt used to pick horses at the Santa Fe Downs. She look at all the names of the horses and picked the pretty's name so she said. At the end of the day, she did much better than my Uncle at the track. But my Uncle won overall because he lost on the bets but got the horses in the claim races. Once I start seeing western movies in the pictures shows, I'll definitely invest in anything with America name in the company. I know there is American Cab company in Austin Texas that I was part of the start up back in mid-80's and they must be doing good.

[justplainbll]

Sadly I think it's likely that American will go the route of PanAmerican.

[check6]

Delta, Northwest, and United went through Ch 11 and got their expenses in order. It is now AMR's turn. Their senior pilots are bailing early in anticipation of a filing to preserve their pension which has a 60 day look back.

I am not sure I would touch this stock. I think DAL and UAL are a better choice at this point.

[Sandhog]

Speaking of airlines and PAM, hijackers been hijacking TWA for longest time and when they hijacked on 9/11 our government was dumbfounded? I've many airlines go belly up that I have flown in. I wasn't so sad to see Braniff go but sure would be said if AA would disappear. But investment wise, I agreed with you Check6 that DAL or UAL is much better investment wise. I was just thinking out loud since AMR plunged today.

[haha]

I good rule of thumb is to avoid anything that flies. Even WEB figured that one out, though it took him a little while.