NWA/DAL Merger may go ahead despite pilots
http://online.wsj.com/article/SB120493646810421039.html?mod=yahoo_hs&ru=yahoo
Heyas,
The beginning of the article talks about how little headway has been made since talks restarted, and how a voluntary agreement might not be reached.
However, the meat of the rest says that the investors want their payday, and that there is increased "chatter" among the large, private investors to go ahead a do the deal without a agreement.
To quote the article:
"There is no evidence such a proxy battle is afoot, but there is chatter among some big investors that Delta management is abrogating its fiduciary responsibility by insisting on a premerger agreement with the pilots"
Some of the private investors said "Such an agreement isn't required by law or either union's contract, so the airlines could go ahead with a deal
and force pilots to sort out seniority later".
I assume this to mean that the contract "trinkets" would be off the table and an arbitrator will be in.
Make no mistake, when "private investors" make comments like this in the WSJ, it's a shot across the bow. If RA won't do the deal, they'll bring in someone that will. Hopefully he didn't burn any bridges at United Health Care before he left.
Popping the popcorn and opening a beer for the sh!tfest this is about to become...
Nu
http://online.wsj.com/article/SB120493646810421039.html?mod=yahoo_hs&ru=yahoo
Heyas,
The beginning of the article talks about how little headway has been made since talks restarted, and how a voluntary agreement might not be reached.
However, the meat of the rest says that the investors want their payday, and that there is increased "chatter" among the large, private investors to go ahead a do the deal without a agreement.
To quote the article:
"There is no evidence such a proxy battle is afoot, but there is chatter among some big investors that Delta management is abrogating its fiduciary responsibility by insisting on a premerger agreement with the pilots"
Some of the private investors said "Such an agreement isn't required by law or either union's contract, so the airlines could go ahead with a deal
and force pilots to sort out seniority later".
I assume this to mean that the contract "trinkets" would be off the table and an arbitrator will be in.
Make no mistake, when "private investors" make comments like this in the WSJ, it's a shot across the bow. If RA won't do the deal, they'll bring in someone that will. Hopefully he didn't burn any bridges at United Health Care before he left.
Popping the popcorn and opening a beer for the sh!tfest this is about to become...
Nu
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