Midway won't die

[upndsky]

Wexford is an investment company that buys into underperforming, financially-distressed companies, infuses them with needed cash to make them grow, and when the stock goes up, sells it at a profit, giving it a nice return on investment. Transportation, including airlines, is one of the few areas that Wexford specializes in. FYI, they are invested in Frontier, as well.

If you want to know more about them, go to their web site at www.wexford.com and click on the "private equity" icon.

As such, you could consider them as "silent" partners. They don't control or operate a company (not directly, at least). Therefore, they consider themselves more as investors instead of owners. They're not looking at making Chautauqua (or Republic) the largest airline in the world. Instead, they are looking at recuperating their investment plus a healthy margin. In the case of Midway, they ended up betting on a losing horse. By acquiring some of the assets at a song, and perhaps making a viable airline out of it, they must feel that they have at least a chance of getting the money back, if not more.

In short, they're betting on more than one horse.

 

[the turtle]

They're not the only ones, either. JO's lackeys have been in BK court as well, looking at snatching up those pos CRJ's.

 

[I.P. Freley]

"Outermarket" helpfully posts....

>>>You don't want me to write anymore do ya! I can't believe anyone at SA would say "we don't want the CRJ's here" what a bunch or bull crap...it would be the only ray of hope anyone there has seen in a year....<<<<

Apparently s/he is not acquainted with the concept of sarcasm.

>>>Scuttles future is well layed out by Wexford and the general knowledge around the hub at PIT....once the leases run out on the Sabbs, your done....by 2006<<<

Unfortunately, s/he IS well acquainted with the concept of being a humorless tool. "Scuttle"? My goodness, that IS the product of a true wit (that, by the way, is another example of sarcasm since you didn't pick up on it the first time). Let me guess, you also think that it's funny to say that "Ford" stands for "Found on Road Dead"?

Insert Beavis and Butthead chuckling here...

Why you take such apparent glee at the possibly grim future of this company is something best left examined by your therapist. I do believe it is the worst kind of pilot that wishes professional ill on another pilot.

I hope you get eaten alive by red ants.