ex j-41
Well-known member
- Joined
- Feb 25, 2005
- Posts
- 881
Does US Air want Jet Blue? Is this the growth for Piedmont? Isn't it great how management protects themselves?....Jerks
In a filing with the Securities and Exchange Commission, JetBlue says its plan "provides severance and welfare benefits to eligible employees who are involuntarily terminated from employment without cause or, in certain circumstances, when they resigned during the two-year period following a change in control." Under the plan, top-level executives could be eligible for as much as two years' salary and bonus while frontline workers would be entitled to up to 26 weeks' pay.
"JetBlue is the only airline that did not have a change in control plan," JetBlue spokesman Bryan Baldwin tells Newsday. "We feel our culture and our product have been key to our success. We don't want to grow through a merger." There have been no confirmed takeover attempts or merger talks involving JetBlue. Newsday writes "some analysts speculated, however, that JetBlue or any other company would not go through the process of putting together such a severance plan unless there were some likelihood of a takeover attempt."
JetBlue plan makes hostile takeover bids more difficult
JetBlue has added a severance plan that would protect both management and frontline workers if the airline became a target of a hostile takeover bid, New York Newsday reports. The paper writes that JetBlue said the move "was not made in response to any possible takeover attempts but is basically to make it more difficult for a competitor to buy the airline, one of the country's leading low-cost carriers."In a filing with the Securities and Exchange Commission, JetBlue says its plan "provides severance and welfare benefits to eligible employees who are involuntarily terminated from employment without cause or, in certain circumstances, when they resigned during the two-year period following a change in control." Under the plan, top-level executives could be eligible for as much as two years' salary and bonus while frontline workers would be entitled to up to 26 weeks' pay.
"JetBlue is the only airline that did not have a change in control plan," JetBlue spokesman Bryan Baldwin tells Newsday. "We feel our culture and our product have been key to our success. We don't want to grow through a merger." There have been no confirmed takeover attempts or merger talks involving JetBlue. Newsday writes "some analysts speculated, however, that JetBlue or any other company would not go through the process of putting together such a severance plan unless there were some likelihood of a takeover attempt."
