HowlinMadMurdoc
Did I crash again???
- Joined
- Nov 13, 2004
- Posts
- 205
Ty Webb said:Midex has a good product, but no real strategy has emerged since the paradigm shift to price being king. They have encumbered much of their assets, including their corporate HQ, and have been too slow to adapt due to pigheaded management.
When FL entered MKE we apprpached them about a code share. After all, we're bringing pax to MKE, we had no long-range a/c at the time, and they were flying half-empty planes to the West coast. Their mgmnt wouldn't even talk to us about it. Now we have the long-range planes, more cash and more debt paid down, and they are burning the furniture to heat the house.
The shareholders should call for TH's head on a stick.
PS, FL operates the 717 with 117 seats, not 115, and the longest leg you would want to see is 3:30 + alt + reserve.
PPS. Snake lives in a fantasyland. Well, technically it's his parent's basement, but it sure explains a lot.
While you aren't off-base in thinking TH is letting ego and pride affect the company, he is good with the MKE business community. Unfortunately, I don't think the shareholders will oust him anytime soon. Most of the stock is held by institutional investors:
BREAKDOWN
% of Shares Held by All Insider and 5% Owners: 7%
% of Shares Held by Institutional & Mutual Fund Owners: 43%
% of Float Held by Institutional & Mutual Fund Owners: 46%
Number of Institutions Holding Shares: 10
I have no idea what "float" means other than boats floating in the water. I do know 3 BOD seats are up for election on the proxy statement. Maybe we'll get some new blood on the board.
Gotta say though that since we've gotten a new Marketing guy, things seemed to have changed. I don't know if the new MSP service with 717's will work but I'll be a "glass half-full" kind of guy. Doesn't cost me a thing to be optimistic.

Just a lowly line pilot...hoping we stay in business.
HMM