ABX Air Declares DHL in Fault of Agreement

[abxaviator]

Looks to be settling in the $3.50's range. That makes for a quarter BILLION discount off Daz's previous bid!

 

[trijetter]

Dont' worry, the Dukes are making the call

Buy more Frozen Orange Juice!

 

[flyinboxes]

This may kill the CHI deal. No bank will get in the middle of this now unless the deal has closed. Has it?

 

[shooter]

okay, time to calm down now. After speaking with a few family friends it seems that this may be a dagger in the heart of an Astar buyout of ABX. Seems that since DHL owns 49% of Astar the SEC may investigate both companies (DHL and ABX) for possible collusion since the stock price is down as a result of an announcement of non-payment by DHL. Seems that manipulating stock prices by withholding payment so you can buy up remaining shares at a deflated price is against the law. Who would have figured? So unless DHL plans to remove ABX from the network, which is possible, neither DHL or Astar can benefit as a result of their actions.

Oh well, this may kill the JAN deal too.

 

[hvydriver]

okay, time to calm down now. After speaking with a few family friends it seems that this may be a dagger in the heart of an Astar buyout of ABX. Seems that since DHL owns 49% of Astar the SEC may investigate both companies (DHL and ABX) for possible collusion since the stock price is down as a result of an announcement of non-payment by DHL. Seems that manipulating stock prices by withholding payment so you can buy up remaining shares at a deflated price is against the law. Who would have figured? So unless DHL plans to remove ABX from the network, which is possible, neither DHL or Astar can benefit as a result of their actions.

Oh well, this may kill the JAN deal too.

All that is certainly possible, but why did Hete make the announcement? Was it due to him stating the company was in danger of defaulting on some loans? I presume he's referring to the 767's. He wasn't specific in the 8k.

 

[shooter]

All that is certainly possible, but why did Hete make the announcement? Was it due to him stating the company was in danger of defaulting on some loans? I presume he's referring to the 767's. He wasn't specific in the 8k.

he is required to make the announcement. if he dumped shares prior to the announcement, he will go to jail for insider trading. he is a smart guy and knows that though. the question is will he pull ABX out as a result, which he has the right to do. if he does, nothing moves unless you guys want to sort your own freight you fly in. feel up to it?

oh wait, the tower is ABX too. this can get interesting.

 

[shooter]

I have to work tonight, so I have to get some sleep. If ABX pulls out, where are we meeting for beers tonight to discuss the events that have been handed to us?

Mongo just pawn in game of life.

 

[hvydriver]

he is required to make the announcement. if he dumped shares prior to the announcement, he will go to jail for insider trading. he is a smart guy and knows that though. the question is will he pull ABX out as a result, which he has the right to do. if he does, nothing moves unless you guys want to sort your own freight you fly in. feel up to it?

oh wait, the tower is ABX too. this can get interesting.

Well, considering we've picketed 3 times this year, asked to be released to strike, (and gotten turned down by the NMB, bless their Republican hearts) I'm not really in the sorting mood right now.

 

[Jurassic Jet]

Looks to be settling in the $3.50's range. That makes for a quarter BILLION discount off Daz's previous bid!

Nice rebound so far. $4.65

Recovered over half the loss.

 

[oldawg]

I have to work tonight, so I have to get some sleep. If ABX pulls out, where are we meeting for beers tonight to discuss the events that have been handed to us?

Mongo just pawn in game of life.

The bowling alley will still be open...if we've stopped work we can hold a union meeting/wake

 

[ke4lir]

Help me here, isn't the stock price drop due to the diluting of shares from dumping 4 million more shares into the ABXA mix? As part of the financial package associated with the CHI acquisition. Sorry I'm just a dump pilot not a CPA.

 

[GoABX]

So Hete is threatening to withhold services unless he get paid fairly? This sounds familiar. He is acting like a union and going on strike!

I will go home for 2 days without pay until DHL pays and extends our ACMI until 2019. But Hete needs to sign my contract too.

When pilots park planes, we parked them outbased so the company can't get them back unless they tow them. When Hete parks planes, he should park them at the hub to clog ILN and block alternate lift providers.

 

[abxaviator]

Help me here, isn't the stock price drop due to the diluting of shares from dumping 4 million more shares into the ABXA mix? As part of the financial package associated with the CHI acquisition. Sorry I'm just a dump pilot not a CPA.

The CHI deal must pass approval and close before those shares even exist.

 

[rotor&wing]

DHL rejects ABX Air's default claim

Fri Nov 9, 2007 4:46pm EST
Nov 9 (Reuters) - DHL said it rejected ABX Air Inc's (ABXA.O: Quote, Profile, Research) default claim, as the air cargo services provider's revenue from other customers had crossed the 10 percent threshold.
DHL said under their contracts, ABX must pay for overhead related to such revenue, if its total revenue from non-DHL sources crossed the 10 percent limit. (Reporting by Aditi Samajpati in Bangalore; Editing by Anil D'Silva)
© Reuters 2006. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

 

[shooter]

Well, considering we've picketed 3 times this year, asked to be released to strike, (and gotten turned down by the NMB, bless their Republican hearts) I'm not really in the sorting mood right now.

whoa, I did not know they would not allow you to strike. sorry to hear that.

now you have to go through more mediated negotiations before asking for release again? (if you don't make progress I should say.) I bet you guys are just flippin' thrilled!

well, maybe the talks will prove to be fruitful for you. good luck!