I disagree with you on this one. Layoffs were for the most part to influence negotiations. Management and F&H are going to do everything they can to paint the doomiest and gloomieset economic picture they can and hope that our negotiators fall for it. From the comments I have been hearing out of the leadership/negotiations committee, singing the company’s woe is me tune, they have.
On the original post in this thread, lets consider a few things.
2003 Riccie was forced out, and when he left it was with a large chunk of RTN’s change.
2004-2008 During his absence RTN puts cut and slash management in place reducing the size of the company by half thereby making it more attractive for a sale to a larger number of potential investors. HIG our current majority stock holder comes into the picture expecting Schreeinga to turn a profit with the company he has been systematically destroying. Along with the reductions in size there is a corresponding reduction in quality of services and a move away from focused customer satisfaction. All of this reaching our current crescendo of questionable viability.
2003-2008 During the time when the company was being destroyed by interim management, Riccie was building his wealth and influence looking for partners to help him retake HIS company.
2008 to present. Riccie reacquires a managing stake at the Flight Options table using the wealth and influence acquired in the interim years. Riccie’s return is filled with lots of positive speak, feel good gestures, half hearted commitments to work with the Union and complete negotiations. Things are marginally better pilots are not as down trodden and are now helping to keep the company afloat. Riccie and F&H continue to stall at the negotiations table telling our Union reps how poor we are and what they can’t do. Then low and behold, comes the luck of the Irish, the world economy crashes. This truly does have a dire impact on the company and management is truly crying poor mouth at the table.
Riccie is simultaneously is trying to sell the same doom and gloom to HIG the current majority stock holder of Options in order to persuade HIG to accept a drastic devaluation of the company. He does this because he wants to buy HIG out with a coalitions of investors that he controls.
Jan 2008 Riccie makes a offer to buy Options at fire sale prices for all of the above reasons. HIG does not dismiss him out of hand and instead, surprise, surprise, makes a counter offer. This past week HIG and Riccie meet for further discussions and while we do not know the precise out come of these meeting it is reported that all parties involved were leaving the meetings with large smiles on their faces.
Draw from this what you will. I think Riccie would make a great Chess player
