JL Dumps Air Tran Stock

[CitationLover]

http://www.reuters.com/article/governmentFilingsNews/idUSN0827812820071108


NEW YORK, Nov 8 (Reuters) - The chairman of AirTran Holdings Inc (AAI.N: Quote, Profile, Research), parent of low-cost carrier AirTran Airways, revealed on Thursday that he has sold the rest of his shares in the company, according to a regulatory filing.
Joe Leonard, who stepped down from his chief executive role at the company last week and already revealed the sale of 130,000 shares this week, has sold his remaining 110,000 shares, according to a U.S. Securities and Exchange Commission filing.
Leonard, 64, sold the shares on Tuesday at prices ranging from $9.54 to $9.76, leaving him with zero shares, according to the filing.
The filing did not mention whether Leonard still held restricted stock or stock options from his chief executive tenure. According to a separate regulatory filing this week, Leonard had received a grant of restricted stock in October 2004. (Reporting by Emily Chasan; Editing by Tim Dobbyn)

 

[RIDETHELIGHTING]

Figures that you would be the one to post this. I think you should worry about your own house.

 

[CitationLover]

Figures that you would be the one to post this. I think you should worry about your own house.

thats funny hearing an air tran pilot say that on this board considering all the "Timmy selling out and saving his job and money" comments.

where's the ex mesa love?

 

[RIDETHELIGHTING]

LAMA forever!

 

[c9skytrain]

If I had any airline stock now, I would dump it also. I see a buying opportunity in a few weeks, though.

 

[CitationLover]

If I had any airline stock now, I would dump it also. I see a buying opportunity in a few weeks, though.

most are near 52 wk lows......

 

[c9skytrain]

Then what are you wanking about? It sounds like anyone who does not dump their airline stock is a yutz.

 

[GOULET!]

Amen Citationlover. Where are all the Forklift Joe supporters now? What a scum bag. Airline stocks have taken a hit lately and will continue to do so but AirTran has been one of the worst stock performers of them all. Lost $5/share already in the past year.

 

[scarlet]

Yeah but come on, the stock market is now the laughing stock market. Google 700.00 yeah ok!!!A nd United at 56.00, and may be parking planes and still work 56 a share=NOT

 

[CitationLover]

Yeah but come on, the stock market is now the laughing stock market. Google 700.00 yeah ok!!!A nd United at 56.00, and may be parking planes and still work 56 a share=NOT

google has avowed to not split the stock to keep the price down, they are following buffett's model.

 

[DairyAir]

Not defending the man but he is in his sixties may have some health issues and probably wants to have some fun before he checks out. Why would he want to hold on to it anyway? BF made it clear that the stock is not really going to go anywhere for quite a while.

 

[Occam's Razor]

I'll say this for the man...he knows how to get maintenance done in a hurry!

 

[DougsRule]

Where did "Forklift Joe" come from... never heard that!

 

[CitationLover]

Where did "Forklift Joe" come from... never heard that!

JL was the director of mx at AA and approved of their engine changing operation on the dc10. douglas called for the engine to be removed from the pylon and JL and the rest of the airlines found out it was cheaper to simply remove the pylon with the engine connected to it (if memory serves me the pylon was simply held on with 3 bolts). AA would use a forklift to support the entire engine assembly (engine and pylon) and then disconnect the pylon. one day while in the middle of an engine change (#1 engine) in tulsa it became lunchtime and the crew left with the forklift supporting an assembly with some of the bolts missing. during the lunch break the forklift bled off hydraulic preessure and weakened the remaining connections for the assembly.

this aircraft eventually lost the entire #1 assembly on takeoff from 32R at ORD. AA was too cheap to buy two stick shakers and the CA's stick shaker was on the left generator which was on runway 32R. the FO, the flying pilot, flew a perfect V1 cut and climbed out at V2. when the engine assembly flew off it tore the hydraulic lines in the left wing and all pressure in that system bled down. unfortunately hydraulic pressure held the left slat assembly in place, but without pressure the air force shoved the slat assembly back into the left wing causing it to stall. the crew unaware of the impending stall could do nothing as the airplane's left wing stalled, the a/c banked to the left, and impacted the ground killing everyone on board and some people on the ground. it was the biggest aviation disaster in the continental united states.

during the various lawsuit trials it came to light AA had shredded lots of documents detailing all their mx procedures and the ntsb discovered all airlines were using this technique for engine changes on the dc10. they grounded the dc10 for a little while as the pylons were inspected. AA though actually made quite a bit of money on this accident through insurance payouts.

another sad part to this was the flying CA on 191 was scheduled to simply go home. the original CA for 191 asked this CA if he wanted to fly this flight (as I believed the new CA had family in LAX).

http://en.wikipedia.org/wiki/American_Airlines_Flight_191

 

[fletch717]

SOOO let me try to understand the logic, Joe was running the forklift that day? Or was it Joe that told the crew to take lunch and leave the forklift in place? Or was it Joe who approved the proceedure? And Joe ordered the airplanes without stickshakers? Was joe loading bags too?