Snakum...
The new leadership was appointed bythe bankruptcy court judge shortly after Lorenzo was found 'unfit' to run an airline. This court-appointed trustee, Martin Shugrue (ex-PA, ex-CO), tried in vain to turn EA around for about 14 months, but failed.
The liquidation was forced by Gulf War I, high fuel prices, competition from AA in MIA and other traditional markets, loss of major assets like South America/Europe and NE Shuttle, not to mention difficulty of operating with line-crossers with little experience.
EA's NE Shuttle was sold to Trump, renamed Trump Shuttle, then sold to USAir, renamed USAir Shuttle, and still operates to this day integrated into USAirways, but not with B-727s. It flies A-320s/319s and had flown B-737s for awhile. The ex-EA/ex-Trump B-727s are at Mojave Airport,CA and probably won't fly again.
Lorenzo has been trying to break into the airline business again, but has been black-balled essentially by the government and investors. Borman is probably enjoying retirement, and occassionally shows up on the golf course. Bryan is hopefully rotting away in some third-world jail-cell, as he was one of the main reasons EA shut down in the first place. What an arrogant, stubborn fool. He put all his dues-paying members at risk, but lives off a pension or parachute IAM provided.
EA was a good company, but doomed to fail due to inefficient work rules and high salaried, non-skilled workers.