| 00:04:34 |
Petri, Thomas "Tom" - U.S. Representative, [R] Wisconsin
STATEMENT OR REMARKS, I ASK UNANIMOUS CONSENT TO ALLOW TWO WEEKS FOR ALL MEMBERS TO REVISE AND EXTEND THEIR REMARKS AND PERMIT THE ADDITION OF ADDITIONAL...
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| 00:08:03 |
Costello, Jerry - U.S. Representative, [D] Illinois
THE DEPARTMENT TO CONTINUE THEIR TRADITION OF OBJECTIVITY AND IMPARTIALITY AS THEY CONDUCT THEIR ANTITRUST ANALYSIS. I LOOK FORWARD TO HEARING FROM...
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| 00:08:20 |
Gutierrez, Luis - U.S. Representative, [D] Illinois
HEARING. >> WITHOUT OBJECTION. >> THANK YOU. THE CHAIR THANKS THE RANKING MEMBER FOR HIS OPENING STATEMENT AND NOW RECOGNIZE OURSELVES FIRST PANEL. ...
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| 00:15:13 |
Payne, Donald M. - U.S. Representative, [D] New Jersey
HAVE VERY COMPLEMENTARY ROUTES. WITH VERY LITTLE OVERLAP. WHEN THERE IS VERY LITTLE OVERLAP, THERE IS NO NEED FOR SIGNIFICANT REDUCTION OF EMPLOYEES....
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| 00:20:07 |
Kucinich, Dennis - U.S. Representative, [D] Ohio
THAT THE CHAIRMAN AND SOME OF MY COLLEAGUES MAY NOT AGREE ABOUT THE BENEFITS OF THIS MERGER. BUT FROM MY VANTAGE POINT, GIVEN THE CURRENT CHALLENGING...
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| 00:28:18 |
Costello, Jerry - U.S. Representative, [D] Illinois
STATE OF COMPETITION, IN THE INDUSTRY'S WHICH WE ARE REVIEWING. INCLUDING CONSIDERATION OF MARKET TRENDS AND DYNAMICS AND NOT LOSE SIGHT OF THE BROADER...
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| 00:28:43 |
Panel Change, -
PAIRS THAT HAVE BEEN SERVED BY BOTH AIRLINES, SUCH A LIMITED ANALYSIS IS NOT SUFFICIENT BECAUSE IT DOES NOT ACCURATELY CAPTURE TRENDS IN THE INDUSTRY....
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| 00:29:30 |
Costello, Jerry - U.S. Representative, [D] Illinois
NEXT PANEL COME FORWARD TO OFFER THEIR TESTIMONY. THANK YOU AGAIN. >> THANK YOU. >>> THE NEXT PANEL WILL CONSIST OF BOTH OF THE CEO'S OF UNITED AIRLINES...
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| 00:30:06 |
Tilton, Glenn - Chairman, President, and CEO
OF CONTINENTAL AIRLINES. GENTLEMEN, WE APPRECIATE YOU COMING BEFORE THE SUBCOMMITTEE TODAY TO OFFER YOUR TESTIMONY. AS YOU KNOW, YOUR ENTIRE STATEMENT...
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| 00:36:59 |
Smisek, Jeff - Chairman, President, and CEO
THAT ATTRACTS AND PROVIDES VALUE FOR CUSTOMERS, SHAREHOLDERS AND EMPLOYEES OUR TWO COMPANIES ALSO HAVE TO CHANGE. WE'RE CREATING THE LEADING GLOBAL AIRLINE,...
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| 00:41:55 |
Costello, Jerry - U.S. Representative, [D] Illinois
CARRIERS. IN SUM, THE MERGER WILL CREATE A STRONG, FINANCIALLY VIABLE AIRLINE THAT CAN OFFER GOOD PAYING CAREERS AND SECURE RETIREMENTS TO OUR CO-WORKERS,...
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| 00:42:53 |
Tilton, Glenn - Chairman, President, and CEO
MERGERS, AND WE HEARD YOUR TESTIMONY, MR. SMISEK, THAT THERE WILL BE MINIMAL EFFECT ON THE EMPLOYEES. MR. TILTON YOU STATED IN YOUR WRITTEN TESTIMONY,...
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| 00:43:37 |
Smisek, Jeff - Chairman, President, and CEO
ALL OF THE EXTERNAL SHOCKS, THAT THIS INDUSTRY HAS EXPERIENCED, THAT HAVE RESULTED IN THE NUMBERS THAT JEFF SHARED WITH YOU. THE DECLINE IN EMPLOYMENT...
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| 00:48:44 |
Petri, Thomas "Tom" - U.S. Representative, [R] Wisconsin
A SITUATION WHERE THE TWO COMPANIES HAVE SLIGHTLY DIFFERENT RETIREMENT PLANS. WE'LL WORK HARD TO MAKE SURE THE RETIREMENT PLANS WE PUT TOGETHER FOR...
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| 00:50:18 |
Smisek, Jeff - Chairman, President, and CEO
AS WE SAW WITH THE COLGAN CREW, DIFFICULTIES THEY HAD TO DEAL WITH FLYING LONG HOURS TO MAKE THEIR WORK SCHEDULES. I JUST WONDER IF YOU COULD COMMENT...
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| 00:51:18 |
Tilton, Glenn - Chairman, President, and CEO
IT SADDENED ALL OF US THROUGHOUT THE INDUSTRY AND CONTINENTAL. THIS MERGER WILL NOT AFFECT SAFETY. SAFETY IS IMPORTANT BEFORE THE MERGER AND AFTER...
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| 00:55:43 |
Johnson, E. B. - U.S. Representative, [D] Texas
BUSINESS TRAVELERS. WE ORIENT OUR PRODUCT TOWARD THAT, OUR SERVICE TOWARD THAT. AND THESE LARGE FOREIGN CARRIERS ARE BEING VERY SUCCESSFUL IN TAKING...
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| 00:56:31 |
Smisek, Jeff - Chairman, President, and CEO
MOST PASSENGERS ARE CONCERNED ABOUT. AND THAT IS THE EMPLOYEES. IN YOUR JOINT TESTIMONY, YOU STATE THAT CUSTOMERS WILL HAVE ACCESS TO 116 DOMESTIC...
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| 00:57:51 |
Tilton, Glenn - Chairman, President, and CEO
ON THE DEMAND OF THE ROUTES. AND FOR SMALLER MARKETS, WE OFTEN USE REGIONAL AFFILIATES THAT WE CONTRACT WITH, BECAUSE THOSE ROUTES CANNOT BEAR A LARGE...
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| 01:05:01 |
LoBiondo, Frank A. - U.S. Representative, [R] New Jersey
CARRIER WILL HAVE. >> WILL YOU USE RETIREMENT? HOW WOULD YOU HANDLE THE PEOPLE YOU HAVE TO CUT? >> WE ALWAYS PREFER IF WE HAVE EMPLOYEES WHO RETIRE,...
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| 01:07:42 |
Smisek, Jeff - Chairman, President, and CEO
OPPORTUNITIES. I HAVE 23 LETTERS FROM NEW JERSEY BUSINESSES AND ORGANIZATIONS IN SUPPORT OF THE MERGER. MR. CHAIRMAN, I ASK UNANIMOUS CONSENT THAT...
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| 01:10:03 |
Oberstar, James L. - U.S. Representative, [D] Minnesota
COMPANY, PROTECTING JOBS, PROTECTING SAFETY, KEEPING JOBS HERE, THAT SOME FUTURE AVIATION SUBCOMMITTEE IS GOING TO COME BACK IN THE FUTURE AND LOOK...
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| 01:14:59 |
Coble, John "Howard" - U.S. Representative, [R] North Carolina
CONSOLIDATION IN THE AIRLINE BUSINESS IS LESS OF EVERYTHING. LESS COMPETITION, HIGHER FARES, LESS SERVICE, $4 BILLION PAID IN BAGGAGE FARES LAST...
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| 01:15:35 |
Tilton, Glenn - Chairman, President, and CEO
CAROLINA, MR. COLE. >> THANK YOU, MR. CHAIRMAN. THANK YOU, GENTLEMEN, FOR BEING WITH US. LET ME LACE MY FIRST QUESTION WITH THE LOCAL INTEREST BACK...
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| 01:16:54 |
Smisek, Jeff - Chairman, President, and CEO
THE MARGIN OF INTEREST TO THEM. WE'RE NOW FINDING OURSELVES IN MARKETS SUCH AS GREENVILLE, SOUTH CAROLINA, WHICH IS NOT A TRIVIAL MARKET, BUT NOT A...
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| 01:20:31 |
Hirono, Mazie - U.S. Representative, [D] Hawaii
STAR ALLIANCE, AND SECONDLY, THE TRAFFIC FLOWS THAT WE EXPECT FROM OUR MERGER GAVE US THE CONFIDENCE TO LAUNCH THAT NONSTOP ROUTE WHICH WILL BE ON A NEW...
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| 01:20:59 |
Smisek, Jeff - Chairman, President, and CEO
NOW RECOGNIZING THE JENDGENTLE LADY FROM HAWAII. >> THIS COMMITTEE IS PARTICULARLY CONCERNED ABOUT THE IMPACT OF THIS MERGER ON EMPLOYEES, ON CUSTOMERS...
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| 01:25:32 |
Tilton, Glenn - Chairman, President, and CEO
SOME HEARINGS RETROSPECTIVE HEARINGS ON THE DELTA/NORTHWEST MERGER. BECAUSE WHEN THAT MERGER WAS BROUGHT TO THIS COMMITTEE, THERE WERE VARIOUS KINDS...
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| 01:27:47 |
Duncan, John James Jr. - U.S. Representative, [R] Tennessee
EITHER JEFF OR MYSELF OR OUR COLLEAGUES AT DELTA, YOU'D HAVE TO GO OVER AND SAY WHAT ELSE CHANGED FROM THE POINT THAT THEY WERE BEFORE YOU? >> SO,...
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| 01:31:01 |
Tilton, Glenn - Chairman, President, and CEO
ALSO SEVERAL YEARS AGO I WAS TOLD THAT EACH ONE PENNY INCREASE IN JET FUEL OR AVIATION FUEL COSTS THE AVIATION INDUSTRY AS A WHOLE $200 MILLION....
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| 01:34:24 |
Smisek, Jeff - Chairman, President, and CEO
PRICE BECAUSE THEY ARE -- THEY CONSUME INVENTORY WE HOLD OPEN UNTIL THE VERY LAST MOMENT AND WE RUN THE RISK OF THAT INVENTORY SPOILING, THAT IS THE...
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| 01:35:10 |
Lipinski, Daniel - U.S. Representative, [D] Illinois
JUST ONE. SO THAT IS NOT GOING TO OCCUR IN THIS MERGER. >> ALL RIGHT. THANK YOU VERY MUCH. THERE'S NOT AN EASY BUSINESS OUT THERE, BUT I THINK YOUR...
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| 01:37:36 |
Tilton, Glenn - Chairman, President, and CEO
O'HARE. TWO RUNWAYS HAVE ALREADY BEEN COMPLETED. ONE RUNWAY PROJECT IS CURRENTLY BEING WORKED ON. AND THERE ARE THREE MORE RUNWAY PROJECTS REMAINING...
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| 01:40:35 |
Smisek, Jeff - Chairman, President, and CEO
DEFINED BENEFIT PLANS. THERE ARE GOING TO BE PROBLEMS WITH PUTTING ALL OF THE EMPLOYEES TOGETHER IN A MERGED AIRLINE. WILL IT BE POSSIBLE FOR THE CONTINENTAL...
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| 01:43:53 |
DeFazio, Peter A. - U.S. Representative, [D] Oregon
BUT I THINK IT'S SOMETHING THAT WE HAVE TO CONTINUE TO KEEP OUR EYE ON. WITH THAT, I WILL -- THE CHAIR WILL NOW RECOGNIZE GENTLEMAN FROM -- GENTLEMAN...
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| 01:44:41 |
Smisek, Jeff - Chairman, President, and CEO
I MUST CONCEDE IT'S SUS SEPTEMBERABILITY TO DESTRUCTIVE COMPETITION THAN I ALONG WITH OTHERS WERE PREPARED TO CONCEDE OR PREDICT. THEN, MARKET BASE...
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| 01:45:17 |
Tilton, Glenn - Chairman, President, and CEO
CONGRESSMAN, I'M NOT SURE WE'LL SOLVE ALL THE ILLS OF THE AVIATION INDUSTRY. I DON'T HOLD IT TO SUCH A HIGH STANDARD. WHAT WE ARE TRYING TO DO IS TO...
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| 01:49:36 |
Lipinski, Daniel - U.S. Representative, [D] Illinois
BUT WHAT WE'VE SEEN IS THIS PATTERN OF DESTRUCTIVE COMPETITION T MAY BE A TRANSIENT ENTRANT WHO GOES AWAY, OR IT MAY BE OTHER PEOPLE WHO PERSEVERE LONGER...
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| 01:50:01 |
Boccieri, John - U.S. Representative, [D] Ohio
OUT THERE. AND I HOPE YOU BOTH SUPPORT THAT. THANK YOU, MR. CHAIRMAN. >> THANK YOU, MR. DeFAZIO. CONGRESSMAN BOZ WELL HAS BEEN CALLED AWAY, BUT HE...
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| 01:51:08 |
Smisek, Jeff - Chairman, President, and CEO
WHILE I'VE NOT TAKEN A POSITION ON THIS, I REMAIN CONCERNED THAT THIS BUSINESS MOD THAT WILL IS NOW BEING PROPOSED WOULD PUT ADDED STRAIN ON THE HUB...
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| 01:53:34 |
Tilton, Glenn - Chairman, President, and CEO
TO DISADVANTAGE VERSUS LOW COST CARRIERS OR LEGACY COMPETITORS IN THAT THE INDUSTRY DOES HAVE FINANCIAL PROBLEMS BUT THOSE PROBLEMS WILL NOT BE SOLVED...
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| 01:57:10 |
Tilton, Glenn - Chairman, President, and CEO
AN AMERICAN PILOT VERSE AN INTERNATIONAL PILOT FLYING THEM FROM THE UNITED STATES TO EUROPE, WHEN YOU FLY BACK FROM EUROPE, THOSE ARE MAINLY AMERICAN...
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| 01:59:41 |
Garamendi, John - U.S. Representative, [D] California
DOESN'T. REGULARLY INSPECT TO THE SAME DEGREE THAT -- >> NO, I'M NOT AWARE OF THAT. I'M NOT AWARE OF THAT. >> WE'LL GET TESTIMONY FOR YOU. >> I'D...
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| 02:00:34 |
Smisek, Jeff - Chairman, President, and CEO
HAS, THAT ANYTHING THAT I MIGHT RECEIVE IS GOING TO BE CONVERTED INTO SHARES OF THE NEW COMPANY AND DEFERRED UNTIL SUCH TIME AS I EVENTUALLY RETIRE....
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| 02:01:51 |
Boccieri, John - U.S. Representative, [D] Ohio
SIR. >> THEN YOU'RE NOT RECEIVING ANY BENEFITS? >> I HAVE -- I PARTICIPATE IN LONG-TERM PERFORMANCE PROGRAMS, THE PAYOUT OF WHICH IS DEPENDENT ON...
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| 02:02:30 |
Tilton, Glenn - Chairman, President, and CEO
AS QUICKLY AS THEY USED TO AT 41. BUT YOU HAD SUGGESTED THAT AIR LINGUS PILOTS ARE TRAINED AS WELL AS DOMESTIC AIRCRAFT COMMANDERS, PILOTS, AND CAPTAINS...
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| 02:06:42 |
Smisek, Jeff - Chairman, President, and CEO
AND TO THEIR RESPECTIVE SAFETY JURISDICTIONS IN THEIR COUNTRY. >> WAS COLGAN AIR TRAINING TO YOUR SATISFACTION? >> NO, IT WAS NOT. >> AND WHY DID...
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| 02:08:53 |
Costello, Jerry - U.S. Representative, [D] Illinois
THAT WE HAVE. BUT WE CAN'T POSSIBLY BE RESPONSIBLE WITH THE LIMITED RESOURCES WE HAVE FOR THE SAFETY OF EVERY CARRIER IN THE GLOBE AND EVERY CARRIER...
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| 02:10:11 |
Garamendi, John - U.S. Representative, [D] California
CARRIERS. AND I WOULD JUST INTERJECT AS WELL AND AGREE WITH THE GENTLEMAN THAT, WHILE IT IS THE FAA'S RESPONSIBILITY, IT'S ALSO YOUR RESPONSIBILITY AS...
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| 02:10:55 |
Smisek, Jeff - Chairman, President, and CEO
COOL DOWN A LITTLE BIT. I HEARD THE MOST ASTOUNDING TESTIMONY I'VE HEARD IN MY 34 YEARS, THAT THE CHIEF EXECUTIVE OFFICER OF AN AIRLINE THAT CONTRACTS...
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| 02:12:25 |
Tilton, Glenn - Chairman, President, and CEO
WITH RESPECT TO OTHER CARRIERS AS WELL. >> I'M PARTICULARLY CONCERNED ABOUT THE DOMESTIC SITUATION, THAT'S WHERE THE ACCIDENT OCCURRED, THAT'S WHERE...
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| 02:13:14 |
Ehlers, Vernon J. - U.S. Representative, [R] Michigan
AND OURS, TO EXTENT WE HAVE OCCASION FOUND THEM WANTING AND SUGGESTED THAT UNTIL SOMETHING WAS ADDRESSED WE WOULD BE SUSPENDING A CONTRACTUAL SERVICES...
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| 02:16:27 |
Tilton, Glenn - Chairman, President, and CEO
WERE ABSORBING. AND HAVE LOST SOME VERY GOOD PEOPLE, BUT ABOVE ALL, HAVE LOST A LOT OF GOOD SPIRIT. AND THE PUBLIC IS THE WORST FOR IT. I'M NOT CONVINCED...
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| 02:17:15 |
Smisek, Jeff - Chairman, President, and CEO
BE. I KNOW THAT CONTINENTAL HAS HAD A VERY GOOD HISTORY IN THE LAST DECADE OF BEING EXTREMELY WELL RUN UNDER THE CEO THAT REALLY RENOVATED IT. AND I...
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| 02:19:57 |
Costello, Jerry - U.S. Representative, [D] Illinois
DID SITTING IN THE FRONT ROW, FIRST. OF COURSE, ALL THE PEOPLE IN FIRST WERE FREQUENT FLYERS. HE SAYS, THIS AIRPLANE, AIRLINE USED TO BE GOOD. WHAT...
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| 02:20:09 |
Panel Change, -
COMPETITIVE OPPORTUNITY THAT YOU'VE ADVISE US AND CERTAINLY APPRECIATE YOUR SERVICE. >> AT ANY RATE, THIS ONE INDIVIDUAL SAID, THE NEXT PERSON SAID,...
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| 02:21:44 |
Costello, Jerry - U.S. Representative, [D] Illinois
PLACES, PLEASE. I WILL BEGIN TO DO THE INTRODUCTIONS FOR THIS PANEL. CAPTAIN WENDY MORRIS, THE CHAIRMAN OF THE UNITED MASTER EXECUTIVE COUNCIL, AIRLINE...
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| 02:23:03 |
Morse, Wendy - Representative
THE SUBCOMMITTEE. I'M CAPTAIN WENDY MORE CHAIRMAN OF THE XEBTIVE COUNCIL OF THE AIRLINE PILOTS INTERNATIONAL. WE HAVE MORE THAN 7,700 ACTIVE AND...
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| 02:28:36 |
Pierce, Jay - Representative
CAPTAIN PIERCE. >> GOOD MORNING, MR. CHAIRMAN. RANKING MEMBER AND MEMBERS OF THE COMMITTEE. I AM CAPTAIN JAY PIERCE CHAIRMAN OF THE CONTINENTAL AIRLINES...
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| 02:34:12 |
Friend, Patricia - President
EXPERIENCE. THANK YOU FOR YOUR TIME, AND I LOOK FORWARD TO YOUR QUESTIONS. >> SURE THE CHAIR THANKS YOU, AND NOW RECOGNIZE -- >> THANK YOU, CHAIRMAN,...
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| 02:40:34 |
Roach, Robert Jr. - General Vice President
ROACH. >> THANK YOU, CHAIRMAN COSTELLO AN RANKING MEMBER AND MEMBERS OF THE COMMITTEE FOR THE OPPORTUNITY TO SPEAK TO YOU TODAY. MY NAME IS ROBERT ROACH...
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| 02:46:37 |
Foer, Albert "Bert" A. - President
YOUR QUESTIONS. >> THAT, MR. ROACH. THE CHAIR RECOGNIZES MR. FOREMAN. >> THANK YOU MR. CHAIR. MEMBERS. SINCE MOST OF MY ANALYSIS CLOSELY RESEMBLES...
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| 02:52:35 |
Horan, Hubert - Aviation Consultant
THANK YOU, MR. FOER. MR. HOARHAND? >> MR. CHAIRMAN, THE UNITED-CONTINENTAL MERGER AND ONGOING AIRLINE CONSOLIDATION PROCESS CREATES FOUR MAJOR PROBLEMS...
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| 02:59:13 |
McGee, William - Aviation Consultant
CHAIRMAN, AND MEMBERS OF THE ECONOMY. GOOD AFTERNOON. MY NAME IS WILLIAM? >> McGEE. I'M HERE TORE CONSUMERS' YOON YI, NONPROFIT PUBLICER OF CONSUMER...
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| 03:05:03 |
Strine, David - Portfolio Manager
YOUR QUESTION. >> THANK YOU, MR. McKEY. T. THANK YOU, MR. CHAIRMAN AND MEMBERS OF THE COMMITTEE. I'D LIKE YOU INVESTORS IN THE CAPITAL MARKETS HAVE...
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| 03:09:54 |
Lipinski, Daniel - U.S. Representative, [D] Illinois
EXPENDITURES RISING WAGES AND INCREASED SERVICES. THANK YOU. >> THANK YOU. I'D LIKE TO THANK THE WITNESSES FOR TESTIMONY. WE'LL NOIR MOVE ON TO MEMBERS'...
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| 03:10:06 |
Oberstar, James L. - U.S. Representative, [D] Minnesota
GENTLEMAN FROM MINNESOTA. MR. OVERSTAR. >> THANK YOU, MR. CHAIRMAN. I WANT TO JOIN HIS COMPLIMENTS TO THE PANEL FOR THEIR SBLEND IT TESTIMONY. SPLENDIED...
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| 03:14:21 |
Foer, Albert "Bert" A. - President
AND JAL, AND THEN YOU HAVE THREE GLOBAL MEGA CARRIERS. RIGHT? >> RIGHT. THAT'S BASICALLY RIGHT NOW ON THE INTERNATIONAL SCENE, WE HAVE OPERATING UN...
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| 03:18:22 |
Roach, Robert Jr. - General Vice President
CONSOLIDATION, AND AN ELECTION? >> NOT YET. >> NOT YET. >> WELL, IF I HAVE MY WAY, YOU'RE NEVER GOING TO HAVE TO -- >> WELL, I'M DOING MY DARNDEST TO...
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| 03:20:03 |
Petri, Thomas "Tom" - U.S. Representative, [R] Wisconsin
MR. CHAIRMAN, CHAIR WILL NOW RECOGNIZE MR. PETRI. >> THANK YOU ALL FOR YOUR TESTIMONY. IT'S VERY HELPFUL. I GUESS I HAVE A COUPLE OF QUESTIONS. ONE...
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| 03:20:48 |
Strine, David - Portfolio Manager
THE BANKRUPTCY LAWS THROUGH THE CHAPTER 11 PROCESS, WE SEE COMPANIES WHO HAVE PURSUED A PATH BASICALLY A FAILING BUSINESS MODEL TO SURVIVE. THAT, TODAY,...
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| 03:25:28 |
Lipinski, Daniel - U.S. Representative, [D] Illinois
IGNORE. >> THANK YOU, MR. PETRI. CHAIR WILL RECOGNIZE THEMSELVES. DURING THE TESTIMONY OF MR. TILTEN AND SMIEZIC, I RAISED THE ISSUE WITH WHAT IS GOING...
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| 03:27:11 |
Morse, Wendy - Representative
YOU WANT TO SEE HAPPEN? >> I WOULD BEGIN BY SAYING WE STARTED THE PROCESS. WE HAVE NEGOTIATED AND EXPENSE REIMBURSEMENT PROVISION THAT ISN'T QUITE...
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| 03:28:51 |
Pierce, Jay - Representative
TAKEN. >> I WOULD AGREE WITH CAPTAIN MORRIS. SO FAR, SINCE MAY 3rd, WHEN THE ANNOUNCEMENT WAS MADE, WE HAVE SEEN STEPS BY MANAGEMENT THAT WOULD LEAD...
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| 03:30:27 |
Friend, Patricia - President
TO SUCCEED. >> WELL, I'M AFRAID WE HAVE NO OPTIMISM AT ALL. WE HAVE BEEN AT THE BARGAINING TABLE WITH THIS MANAGEMENT TEAM ON AN OPEN AND AMENDABLE...
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| 03:32:02 |
Roach, Robert Jr. - General Vice President
I KNOW YOU WERE SHAKING YOUR HEAD IMMEDIATELY WHEN I STARTED ASKING QUESTIONS. I'M AFRAID YOU'RE GOING TO HAVE A SIMILAR RESPONSE. >> WE HAVE THE UNIQUE...
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| 03:34:24 |
Boccieri, John - U.S. Representative, [D] Ohio
RECOGNIZE THE GENTLEMAN FROM OHIO. >> THANK YOU, MR. CHAIRMAN. I JUST HAVE A QUICK QUESTION FOR THE TWO GENTLEMEN WHO SEEM TO BE ON OPPOSING SIDES...
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| 03:35:20 |
Strine, David - Portfolio Manager
OUT, PLEASE? . MR. STRIEN? >> I THINK WHEN YOU LOOK AT RETURNS OF A COMPANY, YOU HAVE TO START WITH REVENUE. YOU NEED TO THINK ABOUT WHAT DRIVES REVENUE....
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| 03:36:34 |
Horan, Hubert - Aviation Consultant
MY ARGUMENT QUITE WELL. THE CORE CLAIMED THAT THESE COMPANIES ARE MAKING IS THAT THIS IS GOOD FOR THE PUBLIC. THIS IS GOOD FOR CONSUMERS. THIS IS GOOD...
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| 03:43:48 |
Garamendi, John - U.S. Representative, [D] California
CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA. >> THANK YOU VERY MUCH. CHAIRMAN OVERSTAR HAS GONE ON AND ON ABOUT EFFICIENCIES AT NORTHWEST AND DELTA....
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| 03:47:22 |
Morse, Wendy - Representative
DO SO. >> I THINK WE BOTH WOULD. WITH REGARD TO THE OUTSOURCING OF FLYING THAT YOU BOTH SPOKE SO ELOQUENTLY ABOUT EARLIER, WE HAVE A VERY GOOD MENTORING...
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| 03:48:43 |
Pierce, Jay - Representative
IN THE PENSIONS AS WE MOVE FORWARD. >> I WOULD ADD ON TOP OF CAPTAIN MORRIS THAT THE FEDERAL AVIATION FOR FLIGHT TIME AND DUTY REGULATIONS ARE BASICALLY...
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| 03:50:50 |
Costello, Jerry - U.S. Representative, [D] Illinois
CHAIRMAN. >> CHAIR THANKS THE GENTLEMAN. LET ME NEXT TO THE GENTLEMAN THAT WE INVITED THE JUSTICE DEPARTMENT TO SEND REPRESENTATIVES OVER TO TESTIFY...
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| 03:51:49 |
Oberstar, James L. - U.S. Representative, [D] Minnesota
OVERSTAR FOR CLOSING COMMENTS. >> THANK YOU, MR. CHAIRMAN. IT'S BEEN A MOST ENLIGHTENING AND VALUABLE HEARING. ESPECIALLY THIS PANEL WITH VERY SPECIFIC...
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| 03:54:42 |
Foer, Albert "Bert" A. - President
REPHRASE THAT AUTHORITY? WHAT PROVISIONS COULD WE INCLUDE IN FUTURE LEGISLATION? >> MR. CHAIRMAN, I DON'T THINK THE ANSWER IS WITH GIVING D.O.T. A LARGER...
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| 03:56:42 |
Horan, Hubert - Aviation Consultant
HORAN DO YOU THINK THERE'S NOT MUCH MORE WE CAN DO WITH D.O.T.? >> I AGREE THAT THE LAW AS WRITTEN IS NOT THE PROBLEM. THERE ARE NO OBSTACLES IN THE ...
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| 04:03:11 |
Costello, Jerry - U.S. Representative, [D] Illinois
AIRLINES. >> CHAIR THANKS THE GENTLEMAN. >> MAYBE YOU SHOULDN'T. GIVE YOU MORE HEADACHES. >> I WAS GOING TO NEXT THAT MAYBE WHAT DEREGULATION HAS LED...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.