FLOPS ceo is skeered

[learflyer]

I left 3 years ago for net jets.

you couldnt pay me 100k to go back.

its a shame, there are a lot of good people at options.

It's true. Lots of good folks there. Sorry Southwest, you guys aren't the only ones who have "good folks" working for you.

 

[Random Flyer]

"you couldnt pay me 100k to go back."

this coming from a guy who's screen name is CMHSlave...

 

[ITFL]

Fud

"The Other segment, which is comprised of Flight Options LLC, Raytheon Airline Aviation Services LLC (RAAS) and Raytheon Professional Services LLC, had sales of $190 million in the third quarter of 2006 versus $185 million in the third quarter of 2005. The Other segment had an operating loss of $11 million in the third quarter of 2006 versus $25 million in the third quarter of 2005. Included in Flight Options in the third quarter of 2005 was a $7 million charge related to the settlement of a lawsuit against Flight Options and its minority shareholders."

The Other segment had sales of $582 million in the first nine months of 2006 versus $566 million in the first nine months of 2005. The Other segment had an operating loss of $34 million in the first nine months of 2006 versus $66 million in the first nine months of 2005. The decrease in operating loss in the first nine months of 2006 was primarily due to improved operating results at Flight Options. Included in Flight Options in the third quarter of 2005 was a $7 million charge related to the settlement of a lawsuit against Flight Options and its minority shareholders.

The customers of Flight Options have the contractual ability to require Flight Options to buy back their fractional share based on its current fair market value. The estimated value of this potential obligation was $537 million and $575 million at September 24, 2006, and December 31, 2005, respectively. "

This is from Raytheon's Q-10 filed for 06. Consider that the "other category" is Flight Options.

You know I've been hearing the FLOPS is going to be sold now for years. Ask yourselves, why now when Raytheon is saying things like, "The Other segment had an operating loss of $11 million in the third quarter of 2006 versus $25 million in the third quarter of 2005." would the company be for sale. Also consider statements like, "The estimated value of this potential obligation was $537 million and $575 million at September 24, 2006, and December 31, 2005, respectively. " What this means is that it would cost Raytheon $537 million to let Flight Options go under right now.

I think the reason we are hearing all this talk of FLOPS closing the doors is because management wants us to. Its FUD folks, don't buy it. Remember we heard a lot of the same talk at NJ during their contract negotiations, and right after the CBA was inked, NJ went out and bought 2 BILLION worth of Hawker 4000's. So our company is doing exactly the same thing NJ management did. They are crying poor to try and effect the outcome of the contract negotiations.

FLOPS is in the best financial shape we've seen. Don't fall for management's FUD.

 

[cjdriver]

You're confused on it costing RTA $537m if it went under. That's the market value of the fleet, which it could presumably get on the street after settling with the owners. Regardless, I doubt Options will go under. This is the typical poor mouthing/softening up pre-contract. I remember when it looked like it would be he!! to be at NJA, and look at how that turned out. It will be the same for Options. Hang tough, and fight hard. You're number two in a very good market. That is always a great place to be. You'll all be set post-contract.

 

[netjetwife]

You are absolutely correct that NJA cried poor during the contract battle. The pilots were told that if they didn't agree to 69K at year 5 for a PIC (failed TA figure) that it would be worse next time around. The next TA was 90K at year 5... FUD is a common union-busting tactic. They can't justify denying the professional wages the pilots deserve unless they claim to be broke.

Think of any big-ticket item you have ever bargained for. Didn't you look for flaws (no matter how minor) to complain about so that you could defend the lower price you were trying to pay? You didn't stand there saying what a sharp looking car it was and agree that it was running great while you offered 10K less than the seller wanted.... Remember those who get good deals don't offer their top (or bottom) price in the first round. Look at the contract negotiations in light of your own bargaining experience and apply the same logic and rules. It will help you to see the reality of the situation and spot the subterfuge that typically takes place when management's goal is to suppress wages. Hang in there! It's all par for the course.

Best Wishes!
Netjetwife

 

[ITFL]

cjdriver[/left];1155012]You're confused on it costing RTA $537m if it went under. That's the market value of the fleet, which it could presumably get on the street after settling with the owners. Regardless, I doubt Options will go under. This is the typical poor mouthing/softening up

pre-contract. I remember when it looked like it would be he!! to be at NJA, and look at how that turned out. It will be the same for Options. Hang tough, and fight hard. You're number two in a very good market. That is always a great place to be. You'll all be set post-contract.​

​

Flight options assets consist of it's core fleet (1/16 of each aircraft), and its

real estate holdings, office equipment ect. Options owners actually hold 90% of the actual assets of the company so there is not much to sell. But I take your point, it was inaccurate to state that it would cost $537 million to sell options. However it is accurate to say that options would take a big paper loss if they did so.
​

Anyways thanks for your words of encouragement. I hope our pilots are listening. It's time for us to stop buying into the FUD management is spreading and do some critical thinking of our own. Options is a cash cow for

Raytheon, why would they sell it, not only that who would buy us in the middle of a war?​

 

[ProFracPilot]

Flight options assets consist of it's core fleet (1/16 of each aircraft), and its

real estate holdings, ​

Does Flight Options actually have any real estate holdings? I was under the impression Ricci still owned the CGF hangars / buildings...​