ABX Air to Acquire CHI

[FreightBumper]

From the ILN news journal

"[FONT=ARIAL, SANS SERIF]Did ABX consult with its largest customer, DHL Express, regarding the transaction? “We don’t believe there should be. I mean, as we see it, ultimately it should be beneficial to them as well,” replied Hete."[/FONT]

[FONT=ARIAL, SANS SERIF]Hmmmmm.[/FONT]

[FONT=ARIAL, SANS SERIF]Thus the "93" million dollar note gets thrown into play. Can't buy back stock with that hanging over your head. This note has been thorn in the side of shareholders since day ONE. This will be interesting indeed. [/FONT]
[FONT=ARIAL, SANS SERIF]They sure were evasive when talking about debt also. I wonder what the true numbers are? [/FONT]

Did Dasberg consult with DHL on giving back the one DC-8, parking the two 727s and... oh wait. Astar doesn't consult with DHL, Dasberg just does what he is told. Wonder what DHL told him to do about Astar's contract talks?

 

[flyinboxes]

I would imagine they told him to get the best deal he can. Makes since to me.

 

[727flier]

All I see on this thread is ATI, ABX, and A-STAR. Well here's how it is at the parent company of CHI. I have been an F/E at Capital Cargo for 8 years and in that time I have seen pay cuts in the way of loss of vacation, training on our days off, and various other things. In the 8 years of employment I get to bring home $1300.00 every two weeks. When asked do we need to join, the answer is "H&%L YES". I don't care if were all ALPA or Teamsters. The absolute best thing that could happen to CHI and this process is Peter Fox and his "BOY" Chris Chorley die a slow and painful death. Then we should be able to work together for our mutual benefit.

 

[ABXbooger]

727,

As an 8 year FO at ABX, I couldn't agree more!!!!!!!!!!

We don't want anyones job, or seat, I think a date of hire list with fences for current seats and then bid on new seats/equipment based on seniority. We all need this to ensure a long, happy career. Well, happy is relative, huh?

 

[b707guy]

The absolute best thing that could happen to CHI and this process is Peter Fox and his "BOY" Chris Chorley die a slow and painful death.

Seems they'll be around for a while anyway, assuming all this goes through. Pasted from flyinboxes' "single carrier" post:

The Stock Purchase Agreement provides that ABX Holdings intends to have CHI or one if its subsidiaries employ substantially all of the current employees of CHI and its subsidiaries after the closing date.

CHI entered into two year employment agreements (with the term commencing on the closing date) with three senior executives of CHI: Peter Fox, Todd Hunter and George Golder. In addition, following the closing, ABX Holdings agreed to cause CHI to offer employment to eight other members of CHI's management team on economic terms no less favorable to such persons than their respective economic terms with CHI as in effect on November 1, 2007.

 

[Quasar]

It would be great if we could all come together as one. The new parent company however might be saying “such a deal”. CHI moves freight labor wise for half the pennies a pound compared to ABX

 

[727flier]

Oh, after this deal when Fox slithered away with all that money and giving us nothing back, I don't think so. I hope the days of slave wages here at Capital are soon to be over. That will be up to a majority of pilots though. We have some really good union leadership who right now are having to sit tight until after this merger to see where this thing goes. "It's still not a done deal" there are many things that can happen. I also don't see why they would have three maintenance, human resources, travel, etc, etc,...the cost of that has got to be a lot. We have several people down in Orlando that a lot of people would love to see go.
:beer: