Well, the stock is up 950%, and there was a 10/1 stock split, doesn't that mean the stock is actually down about 5%? Maybe my math sucks, but thats the way my feeble mind is wrapping itself around it.
ExpressJet Holdings Inc. shareholders have approved a reverse stock split.
The Houston-based regional carrier appealed to shareholders early last month to approve the stock split which it said would allow the company to avoid having its shares delisted for remaining below the required $1 threshold.
The New York Stock Exchange warned ExpressJet (NYSE: XJT) in July that it faced delisting procedures.
As a result of the reverse stock split, every 10 shares of ExpressJet common stock will be combined into one share.
The company’s shares will then trade on a split-adjusted basis beginning Oct. 2. ExpressJet will immediately return to trading on all New York Stock Exchange Group platforms and compliance.
You and I see eye to eye on a lot of things, but (possibly) not this.
Your implication (if if I understand it correctly, though I may not) that the pilots had a choice in the matter is nowhere near the truth. My friends at XJT tell me that the rank and file had exactly ZERO input on whether or not the offer was accepted. The MEC made the decision without even consulting the members.
BTW, what are you up tp now?
What I was saying specifically was that there was connsiderable discussion here at the time from XJT pilots strongly opposed to the idea of a deal with SKYW with its odious strings attached. I recognize it was not a matter of MEC consideration. When the deal was turned down by XJT's BOD, the pilot group seemed very supportive of that idea. Now, I know, the pilots can rest well knowing that a decision in line with their thinking was made.Your implication (if if I understand it correctly, though I may not) that the pilots had a choice in the matter is nowhere near the truth. My friends at XJT tell me that the rank and file had exactly ZERO input on whether or not the offer was accepted. The MEC made the decision without even consulting the members.
Trading stocks and options and acting in community theaters in the area. Just finished a run with Plaza Suite and will be starting rehearsals for Much Ado About Nothing later this month.BTW, what are you up to now?
But back to the first 2 posts.....XJT will need concessions from all labor groups in order to see their stock go up. The reverse split was a procedural move. Nothing in the current business plan has changed (i.e. their new CPA with Continental).
I think most of the XJT pilots (and the company as well), would have been better off in the long run, if SkyW would have made the deal with them. Just my point of view and I think Andy's as well.
This is actually false as well. While the MEC was consulted by Mr. Atkin, they were NOT the reason the deal between SKYW/XJT/CAL fell through. The Board of Directors of XJT Holdings turned down to offer from SKYW not the XJT MEC. While the XJT MEC was briefed by SKYW on multiple items of interest they had no part in the decision making process of the XJT BOD.... There was no rank and file vote among the pilots because the MEC never had a hand in the deal between the 3 companies.