Pinnacle Files for Bankruptcy

[jynxyjericho]

Ull aint takin' this serially.

 

[CoATP]

kopy Dat

 

[WMUSIGPI]

So the EAS routes that Colgan covers with the Saabs have all be given notice of discontinuance to the government and Delta has put out a memo to its people about the DC-9s being kept in service and shifted to ATL to replace CRJ's leaving the system. So that looks like 35 or so planes gone for sure. Plus it's sounding like all the Q's will get parked as well since United isn't budging. So that's another 30 to go all before summer. Throw in the obnoxious timing of a massive pay raise to the top execs(that they can give back some of in BK claiming they are making a sacrafice uke
I'd say BK is a better bet than selecting the winner of Super Bowl XL (yes that game already was played).

 

[Ridgeback]

Look for Comair to be the buyer...you heard it here first!

 

[SPDBRD747400]

Look for Comair to be the buyer...you heard it here first!

With what money?

 

[i fly boxes]

aren't those 35 200's coming from comair?

 

[Ridgeback]

With what money?

pinnacle owes Delta 60 mil. Delta owns Comair...there you go

 

[Jamis81]

So the EAS routes that Colgan covers with the Saabs have all be given notice of discontinuance to the government and Delta has put out a memo to its people about the DC-9s being kept in service and shifted to ATL to replace CRJ's leaving the system. So that looks like 35 or so planes gone for sure. Plus it's sounding like all the Q's will get parked as well since United isn't budging. So that's another 30 to go all before summer. Throw in the obnoxious timing of a massive pay raise to the top execs(that they can give back some of in BK claiming they are making a sacrafice uke
I'd say BK is a better bet than selecting the winner of Super Bowl XL (yes that game already was played).

What have you heard regarding the United negotiations? I haven't heard anything new lately.

 

[bri5150]

What have you heard regarding the United negotiations? I haven't heard anything new lately.

Even if we did hear something, it would be propaganda for negotiations. Who knows? If there isn't a deal, may United or 9e are just playing hardball and it will get done at the last minute. There is no way to know unless you are on both sides negotiating.

 

[WMUSIGPI]

Q

What have you heard regarding the United negotiations? I haven't heard anything new lately.

That the April 2 deadline and short term money was simply United's way of gettting set up to dump Colgan without any disruptions. United simply didn't have any interest continuing with Colgan's product at a higher price. Had the merger been done in a more organized manner (or frankly any matter to where Colgan could have been cleaned up enough) who knows, but I would be guessing with the history of United throwing its partners under the bus, asking for anything more was D.O.A.
The only thing that could have saved the Q's was someone better than :uzi:Trenary and his fellow D.Bag Circus clowns negotiating the original contract with Continental. Basically same thing goes for Delta and the ATL 900's
Flying at a loss in hopes of gaining market share is no way to run a business, yet that's exactly what Trenary did with the 900's and the Q's
Hopefully this is wrong or a LOT of people will be out of work very soon.

 

[Snaab]

Flying at a loss in hopes of gaining market share is no way to run a business, yet that's exactly what Trenary did with the 900's and the Q's.

Bingo, brother. Like you, I hope there are positive developments SOON!

 

[i fly boxes]

Those crickets are really getting loud.... Not good. It's way too quiet. I think this Friday or on April 3rd. Americans was not filed on a Friday. Waiting till after April 1 also is the start of the next quarter

 

[suupah]

stock is up 4 cents today. good news looms

 

[jynxyjericho]

stock is up 4 cents today. good news looms

LOL

Are they up because you bought them and are trying your hand at penny stocks?

 

[suupah]

LOL

Are they up because you bought them and are trying your hand at penny stocks?

nevermind now only up 1 cent from opening. we're doomed.

 

[jynxyjericho]

nevermind now only up 1 cent from opening. we're doomed.

I sold all my shares was all. Watch I'll buy a ton more it'll go up.

 

[suupah]

I sold all my shares was all. Watch I'll buy a ton more it'll go up.

closed out up six. make up your mind, you're constant buying and selling is making my day trading difficult

 

[i fly boxes]

Things are getting worse at this place every day for the first time i am actually starting to wonder about the other chapter of bankruptcy. I'm starting to think we may be sold off in different pieces.

 

[Baronman]

Things are getting worse at this place every day for the first time i am actually starting to wonder about the other chapter of bankruptcy. I'm starting to think we may be sold off in different pieces.

How so?

 

[jynxyjericho]

How so?

Eh, one of the many threats from he who calls himself Sean. Colgan may get sold somehow, no one really knows how it'll work except years ago Eastern (or someone) had something similar happen and a piece of the merged airlines (and those merged pilots) got sold off to someone. Out of seniority furlough basically.... blah blah blah. I still think the Avro's are coming back.

 

[Ridgeback]

Easy all you have to do is put together the pieces that have already been revealed.

1. Two certificates Pinnacle jets, all Delta by the way. Mesaba turboprops...all United now that USAir is out.

2. Pinnacle owes Delta 60 million for the Mesaba. If Pinnacle goes into chapter 11 new stock will be issued. Delta's claim could be with 10 cents on the dollar. Ask yourself this question is it better for Delta to just say to Pinnacle sell us the Jet operation or else...By the way how much cheaper is it to buy the outstanding stock shares now...hmmm $1 today vs $9 a year ago...thanks Sean for publicly threading chapter 11. Another side note the investors are upset to say the least and are suing for a seat on the board.

3. The Jet operation will be merged into Comair. they have the oldest 200's in the country Mesaba has the newest 19 200's in the country. Delta can get a management team that not trying to recover from P.T.'s mess. Delta can dump old 200's and come out with a leaner more junior company. By the way...Delta get total control of them

4. Skywest has wanted to bid on the RFP from united on Q400 flying. Basically too expensive to compete without an existing certificate. Poof by the Mesaba operation and know you have the missing piece. Thought this SLI was a mess, just wait until your put together with a non-union carrier...think Mesaba flight attendants 3/1 may be the best you get.

5. 1 Commerance square...Easily shed in ch 11 or 7

 

[Raskal]

Well, I don't know about some of the above theories, there's some pretty huge leaps in there.

I'll say this, don't think that the coming BK/whatever wasn't considered and planned when DAL involved itself in the purchase and merger. There is a financial game plan in here somewhere but none of us will ever know what it is. All 3 of these companies mean nothing, the employees mean nothing. It's the dollar, that's it.

 

[JustaNumber]

I'll say this, don't think that the coming BK/whatever wasn't considered and planned when DAL involved itself in the purchase and merger. There is a financial game plan in here somewhere but none of us will ever know what it is. All 3 of these companies mean nothing, the employees mean nothing. It's the dollar, that's it.

Excellent point (just see my name). Remember the original sham Mesaba bankruptcy, it was all a shell game to unfairly benefit NW at the Mesaba employees' expense.* And what a surprise, now that same lying cheating NW management is running DL and the Mesaba employees are getting the shaft again. I can't decide whether to roll my eyes or close them to keep blood from shooting out every time Richard Anderson makes that phony speech on the televised safety announcements, lauding Delta's commitment to honesty and integrity in everything they do!

*For those who weren't around at the time, here's what happened with the original Mesaba bankruptcy (and please correct me if I got any of this wrong!): Mesaba was a well-run company with quality employees making good profits. Mesaba buys a tiny money-losing airline in the midwest (Skyway, I think it was?), and creates a holding company shell (Mesaba Holdings) to own both airlines. Skyway keeps losing money, and Mesaba keeps making money hand over fist, and the profits are funneled into Mesaba Holdings. Then NW gets in financial trouble, and tells Mesaba they aren't going to be paid as much anymore. Even though Mesaba Holdings is flush with cash, on paper Mesaba Airlines looks financially shaky, and declares bankruptcy. They then get the threat of a government judge to force massive paycuts and layoffs on the employees, creating a smaller, cheaper airline. The kicker to all these games--NW was always the primary holder of Mesaba stock! They orchestrated the whole thing just to steal from the Mesaba employees. And here we go again--the details may be different, but the objective is still the same: to slash compensation to ALL the already underpaid regional carriers!

 

[bri5150]

Big Sky was the name of the small airline and MAIR was the name of the Mesaba holding company. Other than that, pretty much correct.

I don't think Delta is going to buy us back. They don't want to own regionals because they can just tell them what they want without having to worry about paying for it. As far as buying us and merging with Comair, even more unlikely. Why didn't they merge us when they owned us before?

 

[BHopper88]

The airline MAIR holdings bought was Big Sky.

 

[i fly boxes]

rumors are flying about q's or saabs being returned to lessors, can anyone confirm or deny?

 

[Terantious]

rumors are flying about q's or saabs being returned to lessors, can anyone confirm or deny?

So you want people to confirm or deny rumors

 

[jynxyjericho]

So you want people to confirm or deny rumors

I confirm AND deny those rumors.

 

[suupah]

So you want people to confirm or deny rumors

if i was smart enought o know how to post a pic on here i would post a pic of the ftweb that shows mx action as "return to lessor" on three q's in alb.

 

[25or6to4]

3 Qs back to lessors. thats confirmed