Skywest/ASA merger
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k_EAT=ho_ME
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This one always starts the most entertaining threads. Where's my popcorn?
soup can said:
Here we go again. I heard that gulfstream international was buying skywest and it was staple, staple, staple. Apparently Skywest is more senior so the only fair way to go is to staple, I heard from a friend of a friend who knows a guys brother in law's, sister's cousin.
k_EAT=ho_ME
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Wait a minute...we're supposed to hijack it to a barbeque thread, aren't we?
MarineGrunt
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The Danken Trail just west of KMLU. AWESOME ribs, and beans.k_EAT=ho_ME said:
Truckdriver
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SKYW stock is up over a buck (5%) in today's trading. There may be a few folks who know something here and that is what's driving the stock price. A 5% gain in a day usually is tied to some forthcoming news that is good. Then again, MESA is up 11% so maybe MESA will announce next week that it has purchased ASA. DAL will then cancel it's SLC ccontract with SKYW and give all of that flying to MESA.
General Lee
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Staple is to put the whole group on the bottom of the other's list, without regard to date of hire. It is standard with airlines that are not in the same union, like ALPA. I doubt SkyWest would do that to ASA, but if SkyWest buys them there will be a bias toward the SkyWest pilots for sure. And, if we (DL) do go Chap 11, there is a very good chance ASA will be sold to somebody----just so we can pay the Bankruptcy lawyers......
Bye Bye--General Lee
Bye Bye--General Lee
Yank McCobb
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And Comair goes down with the ship to serve those nutsacs right.General Lee said:
ShaftedbyJI
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Mr. McCobb,
Ever heard of Karma????
Grow Up,
Shafted
Ever heard of Karma????
Grow Up,
Shafted
FreedomAList
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Mesa is UP because it posted a .40 cents per shar profit for last quarter. We're cheap, we suck, and our aircraft look like CRAP, but we are PROFITABLE. (lucky for our CEO and a few cronies who'll get bonus' for this).
Yank McCobb
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ShaftedbyJI said:
I guess you missed the wink and the sarcasm directed at the quoted poster and his previously stated animosity toward Comair and their perceived injustices toward DL furloughees.
Or maybe you just have a "cobb" up your a@@, since you have been shafted by JI. I don't know. Which is it?
cbrown1
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Ok, thanks for the def of staple. I was just curious since I just was hired by asa and I start training th 29th, I just was worried that If Skywest does buy out asa I'd be on my ass in the street. I hope that doesn't happen, keep in mind i'm new to the airlines so I don't really know much about mergers and ect.
FreedomAList
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"Staple" refers to how two separate pilot groups "merge" senority lists. When the pilot groups are both members of the same union (like America West and USAir, both ALPA), they work the list out between their various ALPA councils in whatever formula they can agree to . . . and via an arbitrator if they can't.
The "STAPLE" is an option when the pilots have different representation. Here, Skywest is non-union. ASA is ALPA. So in theory, Skywest as the acquiring company could simply place the ASA senority list at the bottom of the Skywest list. In other words, the most senior pilot at ASA would now be more junior than the most junior Skywest pilot. So a 15 yr captain at ASA would now have less senority than a 2 month Skywest pilot.
Not good for ASA pilot morale. But a merge of any kind other than staple will mean a decrease in senority for any Skywest pilot. These things get really ugly . . . just ask any TWA pilot that got hosed by American . . . .
The "STAPLE" is an option when the pilots have different representation. Here, Skywest is non-union. ASA is ALPA. So in theory, Skywest as the acquiring company could simply place the ASA senority list at the bottom of the Skywest list. In other words, the most senior pilot at ASA would now be more junior than the most junior Skywest pilot. So a 15 yr captain at ASA would now have less senority than a 2 month Skywest pilot.
Not good for ASA pilot morale. But a merge of any kind other than staple will mean a decrease in senority for any Skywest pilot. These things get really ugly . . . just ask any TWA pilot that got hosed by American . . . .
General Lee
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No, word is that ASA and Comair MAY (I said MAY) be sold soon. To who? I have NO IDEA. Take that for what it is worth.... Also, we may not need as many regionals at DCI, since a possible merger with NW would give us Pinnacle and part of Mesaba. Wow, RJ galore......Yank McCobb said:And Comair goes down with the ship to serve those nutsacs right.
Bye Bye---General Lee
PHX-AV8OR
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Isn't there anything else to talk about than this DUMB rumor!!! Come on already...enough is enough. Why doesn't MESA just buy us or Virgin or Jetblue. I heard this from a guy who knows a guy who read it in a magazine who saw it on the tug of a rampers tug driving down the center roadway between concourse D & C cutting infront of CRJ-200!!!! Yadda yadda yadda....WHATEVER is all I have to say to this crap...LET IT DIE!!!
FreedomAList
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Last Skywest pilot I spoke to said SOMETHING is up here. Word is Skywest management is NOT going to allow a staple . . . and since Skywest is non-union, management decides this stuff.
Apparently, Skywest management is desparate to keep ALPA off the property, and think that by accomodating the ASA pilots, there will be enough good will to stop this.
Personally, I think ALPA (or teamsters) are inevitiable at Skywest if the merger goes through. A meger of 2 very different pilot cultures is going to mean alot of hard feelings.
Apparently, Skywest management is desparate to keep ALPA off the property, and think that by accomodating the ASA pilots, there will be enough good will to stop this.
Personally, I think ALPA (or teamsters) are inevitiable at Skywest if the merger goes through. A meger of 2 very different pilot cultures is going to mean alot of hard feelings.
Did anyone else read this staright from CNN.com
Delta shares sink on CEO comments
Grinstein says airline's restructuring plan isn't enough to save it from Ch. 11, shares nosedive.
July 27, 2005: 3:08 PM EDT
CHICAGO (Reuters) - Shares of Delta Air Lines sank more than 20 percent Wednesday after the struggling No. 3 U.S. carrier's chief executive said the airline's restructuring plan is not enough to save it.
The comments from CEO Gerald Grinstein in an internal memo dated July 26 stoked concern of a possible Chapter 11 filing, analysts said, sending the stock as low as $2.65.
By early afternoon, shares of Delta (down $0.47 to $2.92, Research) were down 15 percent on the New York Stock Exchange.
Grinstein said Delta may have to expand its transformation plan. Delta, which last week posted a second-quarter loss of $388 million, aims to win $5 billion in average annual savings from its work force as it tries to cut costs.
"In light of what we have accomplished together so far, there can be no doubt that Delta's transformation plan is delivering results," he said. "What is also clear is that it is not enough."
Among the airline's chief concerns are the high price of fuel and the interest expense on the airline's debt.
Analysts said Grinstein's comments reinforced speculation that the Atlanta-based carrier may be headed for bankruptcy.
"If it were me holding that stock, it would be bankruptcy concerns," said Morningstar equities analyst Chris Lozier of the reason for the stock decline. "You can throw more and more transformation ideas at the business model but it's still fundamentally flawed."
Further pressure on Delta's shares also came from news of the airline's new policy that allows customers to cancel tickets without penalty if they can find a cheaper fare elsewhere, analysts said. Delta extended the offer to travelers who buy tickets on delta.com, flysong.com and through other direct Delta ticket locations.
Another analyst said Delta's low share price may itself be weighing on the stock.
"What we may very well be seeing on Delta is the fact that the stock has dropped below $3, which means that it is no longer marginable. This increases even more the downward pressure on the stock," said Tim Biggam, chief options strategist at Man Securities.
The New York Stock Exchange contacted the airline and requested that the company issue a public statement indicating whether there are any corporate developments that could explain the unusual trading activity.
Delta stated that its policy is not to comment on unusual market activity or rumors.
__________________________________
Is bankruptcy inevitable for Delta? Click here.
Read the full internal memo from Delta CEO Jerry Grinstein -- click here.
Delta shares sink on CEO comments
Grinstein says airline's restructuring plan isn't enough to save it from Ch. 11, shares nosedive.
July 27, 2005: 3:08 PM EDT
CHICAGO (Reuters) - Shares of Delta Air Lines sank more than 20 percent Wednesday after the struggling No. 3 U.S. carrier's chief executive said the airline's restructuring plan is not enough to save it.
The comments from CEO Gerald Grinstein in an internal memo dated July 26 stoked concern of a possible Chapter 11 filing, analysts said, sending the stock as low as $2.65.
By early afternoon, shares of Delta (down $0.47 to $2.92, Research) were down 15 percent on the New York Stock Exchange.
Grinstein said Delta may have to expand its transformation plan. Delta, which last week posted a second-quarter loss of $388 million, aims to win $5 billion in average annual savings from its work force as it tries to cut costs.
"In light of what we have accomplished together so far, there can be no doubt that Delta's transformation plan is delivering results," he said. "What is also clear is that it is not enough."
Among the airline's chief concerns are the high price of fuel and the interest expense on the airline's debt.
Analysts said Grinstein's comments reinforced speculation that the Atlanta-based carrier may be headed for bankruptcy.
"If it were me holding that stock, it would be bankruptcy concerns," said Morningstar equities analyst Chris Lozier of the reason for the stock decline. "You can throw more and more transformation ideas at the business model but it's still fundamentally flawed."
Further pressure on Delta's shares also came from news of the airline's new policy that allows customers to cancel tickets without penalty if they can find a cheaper fare elsewhere, analysts said. Delta extended the offer to travelers who buy tickets on delta.com, flysong.com and through other direct Delta ticket locations.
Another analyst said Delta's low share price may itself be weighing on the stock.
"What we may very well be seeing on Delta is the fact that the stock has dropped below $3, which means that it is no longer marginable. This increases even more the downward pressure on the stock," said Tim Biggam, chief options strategist at Man Securities.
The New York Stock Exchange contacted the airline and requested that the company issue a public statement indicating whether there are any corporate developments that could explain the unusual trading activity.
Delta stated that its policy is not to comment on unusual market activity or rumors.
__________________________________
Is bankruptcy inevitable for Delta? Click here.
Read the full internal memo from Delta CEO Jerry Grinstein -- click here.