Word: rochet
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...passenger seems to be in for a rough ride. Last February, the Swiss shook up AOM's management team and brought in veteran airline executive Marc Rochet to head the ailing company. He came up with a plan, announced May 21, to stem the losses within three years by cutting unprofitable routes and eliminating 1,328 out of 7,400 jobs. Rochet's announcement triggered a chain reaction of strikes and demonstrations by AOM-Air Liberté employees...
...stormy meeting last week, Rochet asked the two investor groups for yet another cash injection to fund the $400 million salvage plan. SAirGroup said it would do so only if Marine-Wendel shared the cost. But Seillière's team was unwavering: "It is out of the question that we pay one more franc." With no serious buyers in sight, Rochet seemed ready to throw in the towel and declare bankruptcy. Some analysts predicted that the threat of an imminent liquidation - which could cost the investors at least $800 million - might finally convince SAirGroup to finance the bailout alone...
...Ulion (Rochet, Devens...
DIED. Waldeck Rochet, 77, secretary-general of the French Communist Party from 1964 to 1972 who, by putting distance between the party and the Soviet Union, strengthened its appeal at the polls and rebuilt its shrunken membership; in Paris...
Chateau Lafon-Rochet...