Midwest is sold to TPG

[Ex737Driver]

We have Beer but you do have Coca Cola, Grits, and Chitllins. So I concede.

One l in chitlin, yankeee.

 

[CitationLover]

One l in chitlin, yankeee.

all the talk, yet the score remains.

North 1
South 0

 

[russtgol]

That's why you take 275 around downtown, genius.

And everywhere else on the Eastern Seaboard... or haven't you been paying attention to the 100+ degree weather up in the Northeast the last 2 weeks?

Hmmm, I don't know... maybe it's just me, but I don't really have to worry about the DUI checkpoints or seat belts since, I don't know, maybe that's a BASIC SAFETY THING that most pilots don't have to worry about?

Just a thought... and, of course, no OTHER states do that, either. If YOU have to worry about DUI checkpoints, maybe you should just surrender your ATP now and save a lot of lives.

You're not real quick on the uptake, are you?

Keep trolling... No food here.

Yeah I guess when you have no life and are on Flightinfo 24 hours a day you dont have to worry about the weather, having a social life because you are always in the house....

 

[russtgol]

I guess you don't visit Madison very much. Good luck (again) Chuckie, its been fun, but time wasting. Always remember, SAVE THE COOKIE!!!!!!!!!!

Is'nt Atlanta right up there with San Fran? Do your research... Ohhh wait you already have, no wonder you and your man friend picked Atlanta.....

 

[FlyAuburn]

That's why you take 275 around downtown, genius.

I'm just observing this catfight, but I don't think there's a I-275 in ATL. Maybe 285...

 

[IdRtherBsailing]

One l in chitlin, yankeee.

Two Es in Yankee, Huckleberry.

 

[Lear70]

I'm just observing this catfight, but I don't think there's a I-275 in ATL. Maybe 285...

Yeah, that's what I meant... good catch. :beer:

Crashpad was all the way up in Marrietta on reserve. 25 minutes door to employee parking (which is on the SOUTH side of the airport).

285 rocks.

Yeah I guess when you have no life and are on Flightinfo 24 hours a day you dont have to worry about the weather, having a social life because you are always in the house....

Keep trolling...

I have a *FAMILY* life, was enjoying it all day today out at church, niece's birthday party, and trying to stay out of that heat you were talking about, but thanks for asking!

 

[Thunderchief]

Let us see who has better weather in say... January?

 

[fam62c]

Midwest wasn't sold to TPG, it was sold to NWA.....they just don't know it yet. The truth is slowly coming out in the newspapers about how this deal is structured and NWA isn't the "passive" investor everybody thought it was. Good luck to the Midwest and Skyway guys..........they will need it.

 

[Ex737Driver]

Two Es in Yankee, Huckleberry.

Naw, it's three. Same sound your sister made last night.....eeeeeeeeeeeeeeimp:

 

[SkiFishFly]

I just don't see how any MEH folks

can honestly believe that NWA is going to let them grow anything besides RJs.

 

[CitationLover]

can honestly believe that NWA is going to let them grow anything besides RJs.

economics and the fact that tpg owns the majority of the company and thus NEEDS TO MAKE MONEY will trump any nwa objection.

did continental grow? spirit? with nwa's involvement.

 

[Kharma Police]

Is'nt Atlanta right up there with San Fran? Do your research... Ohhh wait you already have, no wonder you and your man friend picked Atlanta.....

I don't keep up with those stats, I guess you do. I can understand your frustration, with all the over weight women in Wisconsin, its the winter coat (blubber), just remember, "the bigger the cushin the better the pushin". Maybe try a real city like, Chicago where they consume less dairy products.

 

[IdRtherBsailing]

Maybe try a real city like, Chicago where they consume less dairy products.

California actually produces more dairy than Wisconsin. Not sure who actually consumes more. But it is a well known fact that the extra hormones given to cows are causing many women chubby and skinny to develop bigger hooters. So say all you want about Wisconsin, but support dairy.

 

[Moustache]

you idiots have a lot of time on your hands. not much wit, though

 

[hyperboy]

At

Why does everyone want to worry about Midwest growth? I think they just got the Bejing run awarded from MKE from the DOT. J/K

The real question is how is Air Tran going to grow just as curious as ya'll are about MEH?

 

[SkiFishFly]

economics and the fact that tpg owns the majority of the company and thus NEEDS TO MAKE MONEY will trump any nwa objection.

did continental grow? spirit? with nwa's involvement.

Does TPG really own a majority? What if NWA owns 40%, TPG 30% and other as yet unnnamed parties 30%??
Does anyone have the complete layout of who is buying how much of MEH in this deal?

 

[CitationLover]

Does TPG really own a majority? What if NWA owns 40%, TPG 30% and other as yet unnnamed parties 30%??
Does anyone have the complete layout of who is buying how much of MEH in this deal?

i don't know and you don't know. either way TPG gets its money by growing the airline to increase revenue. if it doesn't management will be fired and replaced like they did at continental.

the nwa 40% is from a carol misquote so that figure may be wrong also.

 

[Propsync]

Why does everyone want to worry about Midwest growth? I think they just got the Bejing run awarded from MKE from the DOT. J/K

Yep. Tim just found a slightly used Caravelle to make the 'long haul'. 45 seats in 'Signature Seating' and just about as many fuel stops. One bathroom and portable dvd players for rent. Now, please sit back and enjoy the 'Best Care in the Air'.

 

[hyperboy]

Go cookies

Easy bake ovens for each PAX too!

 

[CitationLover]

Easy bake ovens for each PAX too!

they're in the seatbacks.

 

[FlyWolf]

Tim's interview with the Milwaukee Journal

http://www.jsonline.com/story/index.aspx?id=649291

 

[slackass]

Northwest could eventually own Midwest AirPosteddocument.write(niceDate('8/20/2007 7:00 AM')); 1d 9h ago | Comment | Recommend E-mail | Save | Print |

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swapContent('firstHeader','applyHeader');By Emily Fredrix, AP Business Writer
MILWAUKEE — Northwest Airlines could end up owning rival Midwest Air Group, which has agreed to a $450 million buyout offer from private equity firm TPG Capital.
Northwest is a passive investor in the deal and may eventually buy Midwest outright, TPG partner Richard Schifter said in a conference call Friday morning.
The equity firm may want to cash out of the deal some day, he said, and Minneapolis-based Northwest could become the sole owner. Schifter said such a move could be several years away.



Betcha it happens sooner rather than later.

 

[gt1900]

TPG doesn't have to grow MEH at all... This is simple, NWA used TPG as a front to buy MEH. NWA put up some of the money (sounds like about 40% or about $176 million) with every intent to buy it completly out in a couple years. However, using TPG essentially bypasses any anti-trust and makes it seem that NWA isn't really the ones buying MEH. Now, all NWA has to do is give TPG and extra $50 million or so ontop of the $450 million and guess what, TPG makes money, NWA ownes MEH for $500 million, and AAI is out of the picture. $500 million is cheap when you consider the damage AAI could have done to NWA.. I'm not saying this is exactly how its gonna happen, but for you guys who think TPG needs to grow MEH to make money your absolutly wrong. Once NWA ownes MEH outright they could shut the doors on MEH and build MKE on their own.. NWA and CAL was a different story all together, if you wanna make comparisons, compare NWA and Champion.... I don't think there is any way NWA is going to allow MEH to grow and affect thier markets. This is the exact reason they didn't want AAI in MKE... Good luck MEH guys, like I said before, I think your gonna need it...... I think that if I was an MEH employee, I would have much rather had AAI buy MEH than NWA.. At least with AAI you knew what the plan was, and that was for major growth, with NWA, who really knows...

 

[Lear70]

Betcha it happens sooner rather than later.

How much you wanna bet?

 

[hyperboy]

einstein's

I love all those who stroke your ego's with "You know what is going to happen" blah blah....Put your money where your mouth is if your so brilliant or start your own airline.

It gets old after awhile...to listen to this. Here are some humbling ideas that I am sure you all knew was going to happen. Thats why your all filthy rich!

Deregulation happened in 1978..mail routes no longer dictate.

Eastern went bankrupt?!

Braniff is gone after muliple times.

Pan Am is gone!

SWA is still here after all these years.shut up critics.

Usairways bought piedmont not piedmont bought usairways.

Ohio State Football rules and Michigan sucks!

 

[Lear70]

Ohio State Football rules and Michigan sucks!

Yeah, but Irish will always be IRISH!!

 

[ATLplt]

Ohio State Football rules and Michigan sucks!

No, no, you've got it all wrong. The SEC rules and the Big Ten sucks. :beer:

 

[FlyWolf]

Private equity's benefits

By TOM SMITH and KEVIN KENEALEY


Posted: Aug. 20, 2007

TPG Capital, a private equity investment firm, with backing from Northwest Airlines Corp., reached an agreement to acquire Midwest Airlines on Thursday.

It appears Midwest will keep its name and remain in Milwaukee, where it has been a point of civic pride.

Some may question, however, whether Midwest's fate is any more assured in the hands of a private equity firm than it would have been with a publicly traded, low-cost airline like AirTran Airways. Here's a glimpse at some of the benefits of private equity ownership.

Under the public microscope, companies are held to short-term growth goals measured quarter to quarter. After AirTran made its first takeover bid, this pressure for instant gratification only increased for Midwest.

A private equity firm such as TPG, on the other hand, typically looks for its investments to pay off over five to seven years. This longer-term approach allows more flexibility to make strategic decisions and follow through, which is in line with the steady-growth plan Midwest CEO Timothy Hoeksema has touted in recent months in response to the AirTran bid.

During AirTran's quest, CEO Joe Leonard made regular mention of his company's potential to add economic might to Midwest in Milwaukee. But Midwest will potentially gain an even stronger financial partner.

With a private equity firm, the airline will have a ready source of additional equity to pursue opportunities as they occur, and it'll be able to access that money more quickly and reliably than it would have been able to through the public markets.

Midwest also will be free from the burdensome costs of public regulation, which, we can attest, saves money based on our recent public-to-private transformation of Milwaukee's Oilgear Co. Oilgear will save nearly $1 million per year in paperwork, legal and accounting fees and other costs after making the switch. For a company the size of Midwest, those savings will go far beyond $1 million.
"The cookies stay," Hoeksema said Thursday in announcing the TPG deal.

He was highlighting one of the biggest benefits of private equity involvement in Midwest. The airline can remain independent, preserving its significant legacy of high-quality service that's made the airline so special to employees, management and the community.

Private equity involvement often comes in the form of strategic planning and providing additional resources to grow the business. In addition to capital, a private equity firm may have a network of other resources - such as experience and expertise in a given industry - to assist management teams in achieving their objectives.

The Midwest deal also showcases the high degree of flexibility in a private equity transaction. This flexibility is one reason private equity can offer prices comparable to and, in the case of the AirTran bid, higher than those of competitors. As a cash transaction, the TPG bid had the advantage of being a more dependable offer than AirTran's cash-and-stock offer, especially given the recent wild fluctuations in the stock market.

Some are expressing concern about Northwest's involvement in the TPG bid. The decision to partner with another airline, and one that's a major player in the same market, is an unusual deal structure, to say the least. But given all the other benefits this private equity buyout can bring to Midwest, spirits should be hopeful for the airline, its many fans and its hometown.

Tom Smith and Kevin Kenealey are managing directors at Mason Wells, a Milwaukee-based private equity firm.

 

[SkiFishFly]

Ohio State Football rules and Michigan sucks!

Now you've gone too far...

GO Blue!