Continental Airline Company

The numerous anecdotes alone are worth the price of the book . . . most readers will find themselves asking why everyone doesn't run a business as preached by the chief executive of Continental Airlines.--The Washington Post Book World . . . in an age where managing seems increasingly complicated, some of Bethune's prescriptions are refreshingly straightforward.--Business Week From Worst to First outlines Gordon Bethune's triumphs . . . about the turnaround he's led at Continental, a perennial basket case that's become an industry darling.--The Atlanta Journal-Constitution From Worst to First is [Gordon Bethune's] story of Continental Airlines' turnaround under his command . . . The blueprint has worked . . . Fortune magazine named Continental the company that has 'raised its overall marks more than any other in the 1990s.'--The Seattle Post-Intelligencer All of Gordon Bethune's proceeds from this book will be donated to the We Care Trust, a nonprofit organization that assists Continental Airlines' employees and their families in times of need.

In 1982 Johns-Manville, a major asbestos manufacturer, declares itself insolvent to avoid paying claims resulting from exposure to its products. A year later, Continental Airlines, one of the top ten carriers in the United States, claims a deficit when the union resists plans to cut labor costs. Later still, oil powerhouse Texaco cries broke rather than pay damages resulting from a courtroom defeat by archrival Pennzoil. Bankruptcy, once a term that sent shudders up a manager's spine, is now becoming a potent weapon in the corporate arsenal. In his timely and challenging study, Kevin Delaney explores this profound change in our legal landscape, where corporations with billions of dollars in assets use bankruptcy to achieve specific political and organizational objectives. As a consequence, bankruptcy court is rapidly becoming an arena in which crucial social issues are resolved: How and when will people dying of asbestos poisoning be compensated? Can companies unilaterally break legally negotiated labor contracts? What are the ethical and legal rules of the corporate takeover game? In probing the Chapter 11 bankruptcies of Johns-Manville, Frank Lorenzo's Continental Airlines, and Texaco, Delaney shows that more and more, an array of powerful actors--corporations, commercial creditors, auditors, bond rating agencies and investment bankers--are coming to view bankruptcy as a legitimate business strategy. In each situation, the choice of bankruptcy by these corporate giants was directly influenced by the surrounding business community. In the case of Johns-Manville, carrying appropriate insurance did not prevent its twenty insurance companies from refusing to pay claims. Thanks to shrewdplanning and cooperation from Continental's creditors, not only was the airline able to continue flying in the first week of Chapter 11, but it could also offer the lowest cross-country fare in the market.

Continental Illinois National Bank and Trust Company - Continental Illinois National Bank and Trust Company was at its peak the seventh largest bank in the United States by deposits. In 1984, it became the largest ever U.

Continental Airlines - Continental Airlines () is an American airline. Based in Houston, Texas, it is the 5th largest airline in the U.

Texas Air - Texas Air was an airline holding company in the USA that played a significant role in the downfall of the better-known Continental Airlines and Eastern Airlines. Other early corporate forms it existed as include Texas International Airlines, formerly Trans-Texas Airways.

De Vaux Continental - The Continental De Vaux was an automobile produced by the Continental Motors Corporation; assembly of the vehicles occurred in Oakland, California. Continental assummed control of the De Vaux Motors Company in 1932, and continued building De Vaux designed cars under Continental's corporated identity.

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