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Authors

Marty Urra

Abstract

[Excerpt] The message read, "Be in Atlanta for emergency meeting of unions with Eastern" and was signed by Charlie Bryan. The contract we had won with Eastern now had to be defended against the banks to whom Eastern owed so much money.

In Atlanta we listened to a very somber Frank [Excerpt] Borman describe how the banks, led by Chase Manhattan and Citibank, were refusing to roll over loans that were coming due. The bankers insisted that Borman win "concessions" from us by June 21 or Eastern would be thrown into "technical default."

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