Gemini News

[dc10maniac]

From: Woodward, Sam
Sent: Thursday, July 20, 2006 2:08 PM
To: GAC All Users (Not Crew Members)
Subject: Great News!

Fellow Employees, Great news! Gemini's plan of reorganization was confirmed by the bankruptcy court earlier today. We are now set to complete the plan of reorganization and emerge from bankruptcy during the week beginning July 31st. I will be holding town hall meetings in the next couple of weeks to
provide more details. I would like to express my gratitude to all who
supported us through our reorganization.

Sam A. Woodward
Chairman, President & CEO

 

[jercdevil]

Voted no for the second time on this POS. This is like ground Hog day Rumor is we will be back in Carlye's hands in 18 months.

 

[monyetbesar]

If we are out of BK.. then it is easy for me.. a "NO" vote. I do not like being told the 3% is all the judge would allow, also that we can get on with our lives after emerging from BK and voting...if we are out of BK then we are being snowballed..

 

[LUV2FLYLOUIE]

I VOTED NOOOOOOOOO!!!!!! DOES THIS BRING BACK MEMORIES?????LIKE THE RED LETTERS GUYS? LOL

 

[fogrunner]

LIKE THE RED LETTERS GUYS? LOL

I thought PINK was more your style..........

 

[dc10maniac]

Just voted NO.

 

[jercdevil]

Show these idiots were tired of there BS and vote NO

 

[GAC11Flyer]

Who does our MEC work for us or B.J.& Company? Time for a recall. let's get ride of these idiots!

 

[monyetbesar]

A recall? GAC11Flyer, just get in there and do some negotiating. I am voting against the TA, but it is the TA I am deciding on. I have no friggn desire to be on the MEC etc.. so in my case, I will keep voting on the package etc.. as they are presented. GAC11 you may want to get in there and see if you can help these guys or the next batch come up with a better TA etc, I hope you do and would appreciate the effort.

 

[b19]

Our Mec Has Done A Good Job During Bankruptcy

We are still in bankruptcy, our plan was confirmed/approved by the court, but we have not yet exited.

The Judge is in charge, not us, not the company, the Judge and no one else. Lucky for us he is a pilot who likes pilots. The Judge's job first and foremost is to see a company thru bankruptcy if he can, with a plan that he believes will fly and not one that will crash and burn.

This has severly limited what our MEC could accomplish, because it is the Judge that has the final word. Our MEC has done the best that they could with the limitations that the bankruptcy placed on them. That's all any of us can ever do, is do the best we can at the time.

If you are over 50 and in the left seat well that is were you are, if not this TA and bankruptcy plan is an opportunity to see whether the company is going to grow and this is a destination or a tech stop. This contract gives us the time to make that decision.

As for the investment company, well they are smart and in the business of getting a good rate of return on their money. Just like we make decisions on whether or not to stay in a mutual fund because of a likely rate of return so do they. They purchased debt for pennies on the dollar and then did a debt for equity swap in bankruptcy as opposed to a straight purchase. This allowed them to have a lot more control and left them with away out of the deal. If you look closely at the disclosure plan you will see that they can liquidate and still be covered, not losing any of their investment. The bridge loans/bankruptcy financing puts them in a different class and higher priority than general creditors, only upon exit do they become equity holders.

I hope that everyone makes their own decision the same way we do in the cockpit, no emotion just facts and good judgment. Most of all I hope that we all continue to treat each other with the respect that we all deserve. Good luck and good health.