Midwest say again No, thankyou

[FlyWolf]

Right on the heel of AAI losing the lawsuit against MEH in a New York court, the BOD today send the following letter to AAI.



Mr. Joseph B. Leonard
Chairman and Chief Executive Officer
AirTran Holdings, Inc.
9955 AirTran Boulevard
Orlando, FL 32827

Dear Mr. Leonard:


We, the independent directors of Midwest Air Group, acknowledge receipt of your letter dated February 19, 2007. Despite its length, your letter contained little or no new information of value. As a result, we continue to believe that your offer is inadequate, and that Midwest shareholders should reject the offer and not tender their shares for the reasons outlined in our January 25 14D-9 filing.
We have engaged in a deliberate and thoughtful process to evaluate your offer. Please be assured that each of us is fully informed of all aspects of the offer and stands without reservation behind the efforts of our Chairman and Chief Executive Officer, Timothy Hoeksema, and our very capable Midwest management team.
In regard to our annual meeting of shareholders, please be advised that we plan to hold it in accordance with our bylaws and Wisconsin law.
Sincerely, /s/ John F. Bergstrom /s/ Elizabeth T. Solberg /s/ James R. Boris /s/ Richard H. Sonnentag /s/ Ulice Payne, Jr. /s/ Frederick P. Stratton, Jr. /s/ Samuel K. Skinner /s/ David H. Treitel




Also worth mentioning, last week all of Midwest top management including Timmy bought a substantial amount of Midwest shares at $13.87.

Midwest also reduced its debt by 21.6 Million, which will open the door to a good new a/c interest rates. Our management have said that they need to reduce the debt before the new order can take place.

I think April is going to be an interesting month in this saga.

 

[DOJET1]

unca tim will make money off this ...

 

[1800 RVR]

I wish all you MEH guys good luck. I hope all works out for you, one way or another. I still know quite a few pilots there, and they were all good guys. But, I wouldn't trust Timmy if my life depended on it. I'm still trying pull that knife out of my back. He is typical management - will lie to your face while picking your pocket. After having worked for them, as you can see, I have a VERY bitter taste in my mouth.

I hope he doesn't bring you guys down.

 

[AFcitrus]

"Also worth mentioning, last week all of Midwest top management including Timmy bought a substantial amount of Midwest shares at $13.87."

Let's see here... buy at $13.87, Airtran drops offer and stock plummets to pre-offer prices (around $8-11). Sounds like good business to me.......NOT!

 

[FlyWolf]

1800 RVR, thanks for the nice words, glad you didn't forget us hope you'r doing good.

AFcitrus, I am thinking they want to show share holders that they are putting their money where their mouth is by buying stocks and investing into their own future plans.

 

[Citrusflyer]

But Tim's stock buy is a win-win for him. If the deal goes through he basically will get an even swap; if not the stock will probably drop to the 7 to 9 dollar range and he has a tidy little loss to offset the large bonus that probably awaits if FL ever pulls the offer completely.

 

[Ty Webb]

I'm sure that stock loss is cheap job insurance for him . . . . if Comb-over Joe and his henchman Kolski get this deal, Uncle Timmy and his flunky "Scornin' Carol" will be pushed under the bus quicker than you can say "Jet Black".


.

 

[DH106]

Uncle Tim is a scumbag.

 

[SkiFishFly]

Resistance is futile...