ABX Pilots, time to answer

[b707guy]

perhaps it is the loss of two ABX Air B767-200SF's to CAM part of (ABX Holdings).

No clue about the other things, but regarding "loss" of the two 767s to CAM, did or will ABX actually lose the aircraft such that ABX crews will no longer fly them? Is ABX going to furlough anyone? The reason I ask is that all of our aircraft, whether they were leased or owned by us, were bought by CAM under CHI over the course of a few months fairly quickly after they bought us. Scared the hell out of us for a while, but absolutely nothing changed but the name of the owner when it came to who flew them.

 

[LarryinTN]

did or will ABX actually lose the aircraft such that ABX crews will no longer fly them?

That's what we're waiting to find out...

 

[Rook]

Well heckfire, that ought to be easy in ILN. You can't sling a dead cat without hittin about 12 of em.

That wasn't 12. It was 3 BIG ones!

 

[Chubaka]

Unless you have had 3 big ones at the same time, don't make fun. I guarantee you will love every minute of it. What else are you going to do in Wilmington, go hang out at Wal Mart? By the way, that is the best place to pick them up. Not literally, figuratively. Wal Mart has them on special. Buy 2, get 1 free. Hurry.

 

[hvydriver]

That's what we're waiting to find out...

Have you guys considered trying a single carrier status filing? Not that it would work, but fwiw, I think I'd be slinging anything to the wall at this point just to see if something sticks.

 

[FreightBumper]

Have you guys considered trying a single carrier status filing? Not that it would work, but fwiw, I think I'd be slinging anything to the wall at this point just to see if something sticks.

In the works as we type. Several things are under way.

 

[fodc8]

Doesn't this change of control protect Hete and other executives in the event of a sale of assets? If not what does it mean? Has anyone heard more about the ABXA holdings proposed name change?

http://www.sec.gov/Archives/edgar/data/894081/000119312508074248/dpre14a.htm#toc44309_69

 

[hvydriver]

>ABX Holdings has entered into change-in-control agreements with certain of its executive officers, including the named executive officers, as well as with certain executive officers of subsidiaries of the Company. The agreements provide that, in the event of a change in control of the Company or the subsidiary that employs the executive, the executive will have the right to remain employed, at not less than his respective rate of compensation in effect as of the date of the change in control, for at least four years thereafter.<

Seems to me this means that whatever subsidary got sold, some of the execs. would go with it. For example, if ABX got sold to Astar, then Graber would have the opportunity to go with the company in the sale. Hete is with Holdings now.
Either way, I think all of us on both sides of the field in ILN better fasten our seat belts and slow to maneuvering speed. It's about to get rough around here....

 

[fob727]

Hvy..what you posted might have to voted on at the shareholders meeting. Any ABX guys have any thoughts?

 

[Clipperskip]

Change of control

>ABX Holdings has entered into change-in-control agreements with certain of its executive officers, including the named executive officers, as well as with certain executive officers of subsidiaries of the Company. The agreements provide that, in the event of a change in control of the Company or the subsidiary that employs the executive, the executive will have the right to remain employed, at not less than his respective rate of compensation in effect as of the date of the change in control, for at least four years thereafter.<

Seems to me this means that whatever subsidary got sold, some of the execs. would go with it. For example, if ABX got sold to Astar, then Graber would have the opportunity to go with the company in the sale. Hete is with Holdings now.
Either way, I think all of us on both sides of the field in ILN better fasten our seat belts and slow to maneuvering speed. It's about to get rough around here....

Although I'm just a dumb pilot I believe the statement above is merely a financial protection extended to ABX Holdings and ABX Air executives. They would be entitled to four years of compensation at their present pay rates. I would doubt that their services would be required by the purchasing company.

I find the BOD's opinion of Shareholder Proposal #4 Interesting. We need our comprehensive "Poison Pill" to help us (the BOD) protect shareholder value. This comes after the BOD turned down a $7.75 a share offer from Astar Air Cargo. What is the shareholder value at this time even after the purchase of Cargo Holdings International? Around $3.00 a share. Perhaps the shareholders of ABX Holdings need protection from the ABX Holdings BOD and not Astar Air Cargo