Frontier files chapter 11

[propsarebest]

http://biz.yahoo.com/prnews/080411/laf017.html?.v=101

 

[WateryGrave]

Not a good day. Good luck guys, I hope it works out.

 

[Guitar Guy]

My thoughts and prayers go out to the Frontier employees and their families. While SM says that they've filed bankruptcy for a different set of reasons than other recent cases, it's not the best news to hear on a Friday morning. I do hope that F9 will weather the storm.

 

[WalterSobchak]

Just want to wish you all good luck over there at F9...

You guys always go out of your way to welcome me on your jumpseats on my rides home and I can't say there's a pilot group I enjoy riding with more (my own pilot group included).

Next time I ride out of DEN, I will be buying a ticket in support.

 

[Shrek]

To all my friends over at F9 my family's prayers are with you today.........

 

[Yuppyguppy]

Sorry to hear that guys...I know what it's like...good luck

 

[SEVEN]

Good Luck to ALL the Frontier guys and gals. Sorry to hear the news.

 

[Princedietrich]

Hang in there, Frontier folks. I'll be raising a cold one in your honor tonight.

 

[Wesb737fo]

TC, LC and Steve C (and all the Frontier folks)

I am hoping the best for you guys ( and pretty much everybody in this industry)......I need a beer

 

[climb2slow]

Thanks for all the kind words. Mood here it obviously somewhat subdued over yesterday. That being said, I don't think anyone is throwing in the towel quite yet. Its still a great place to be employed, and I hope it stays that way. I've been through a 11 before so its not new to me, but at least we can join the club of airlines who have been chapter 11! Thanks again!

 

[f9r]

Appreciate the support. I continue to be amazed at how things work in this business. Despite the optomistic numbers in revenue, cost reductions and bookings looking forward the credit card processor (First Data Corp) decides it's prudent to hold back 100% of the transactions (yes, all of it) starting May 1 based on one analysts opinion. This essentially pulled the cash flow rug right out from under us leaving no other choice.

Those that have and those that will, I never knew what that meant until now.

Thanks again for the support and good luck to all.

 

[another cfii]

So what are the options for F9 now? Find new capital or replace your current CC (Can you even do that?) It's indeed a changed industry when the airlines now are run by a bunch of itchy finger wall-street punks that decides when to bail. To them, all we are just "expendable investment"...

 

[IronCityBlue]

Exactly. Being a public company today is like making a deal with the devil. Who will always come to collect. You are at the mercy of day trading blood suckers who contribute nothing of value to humanity (other than their winnings from legalized gambeling) and millions of computers are pre-set to buy and sell like reactionary robots. Analcysts oftentimes wield more influence than company founders and the entire structure is set up so that execs come first, shareholders second, and labor is purely a liability.

That philsophy may help to make the next quarterly numbers (to stay on the good side of the pre set computer trader trip points) but long term it ruins many companies. The entire system is flawed. You can be running a great company, and make 10 million in profits, but if you initially predicted you would make 11 million in profits, your stock tanks. If your company is growing, but your rate of growth is less than it was last year, your stock can sometimes tank.

We need a comprehensive reform on the trading market, including more transparancy for investors, more shareholder equity (true DIP) during bankruptcy, and less reward for pure, sometimes by the minute speculation.

 

[starchkr]

Thanks everyone for the support...we will survive!!!

Tell you what though, waiting at the gate on thursday night to do the red-eye to FLL and pulling the company email release off the printer fresh from the GO before it went public was quite the humbling experience. Made a pretty upbeat and energetic trip turn somber really quick!

 

[yaks]

"So what are the options for F9 now?"
Ch. 11. The bankruptcy judge can impose status quo on the vendors (first data) thus fixing the problem.

 

[starchkr]

yaks, i'm absolutely no expert or even a novice on this one, but i believe that is what he can do. Keep everything the way it was before the BK was filed.

 

[jmreii]

Exactly. Being a public company today is like making a deal with the devil. Who will always come to collect. You are at the mercy of day trading blood suckers who contribute nothing of value to humanity (other than their winnings from legalized gambeling) and millions of computers are pre-set to buy and sell like reactionary robots. Analcysts oftentimes wield more influence than company founders and the entire structure is set up so that execs come first, shareholders second, and labor is purely a liability.

That philsophy may help to make the next quarterly numbers (to stay on the good side of the pre set computer trader trip points) but long term it ruins many companies. The entire system is flawed. You can be running a great company, and make 10 million in profits, but if you initially predicted you would make 11 million in profits, your stock tanks. If your company is growing, but your rate of growth is less than it was last year, your stock can sometimes tank.

We need a comprehensive reform on the trading market, including more transparancy for investors, more shareholder equity (true DIP) during bankruptcy, and less reward for pure, sometimes by the minute speculation.

All of us are investors(stakeholders) one way or another; I absolutely have no problem with someone or a investor flushing their money down the the toilet as long as it's not my money. Bank of America will be nice about collecting their money, I would not. I got my mind on my money and money on my mind.

 

[FBN0223]

yaks, i'm absolutely no expert or even a novice on this one, but i believe that is what he can do. Keep everything the way it was before the BK was filed.

I am no expert either but even with a great product and excellent employees some modifications to the Frontier's business plan must be in order.

 

[IronCityBlue]

All of us are investors(stakeholders) one way or another; I absolutely have no problem with someone or a investor flushing their money down the the toilet as long as it's not my money. Bank of America will be nice about collecting their money, I would not. I got my mind on my money and money on my mind.

I agree that whoever is owed money will come to collect, that wasn't my point. I was just pointing out that the current state of being a public company is almost always a trap. Get money now, great! But then a whole lot of people who could care less about your company then own you. And all they care about is selling what they own to someone else, who only wants blood money by any means necessary. Couple that with an overall investment mindset that mandates growth or death, and when you realize that no business can grow indefinitely, and many times the best that can be done is to delay the inevitable.

I am an advocate for increased shareholder rights, especially in bankruptcy. But our overall trading infrastructure needs to be changed to cut out the day trading scum bags with their little preset computers who contribute nothing to society and only suck the blood out of viable companies by forcing them to follow analcysts and chase quarterly numbers. Unless of course the perpetual cycle of liquidation, start up, liquidation is in some way beneficial for our country.

 

[Rez O. Lewshun]

Too bad F9 isn't ALPA. If anyone has BK experience its ALPA!