SkyWest Had Made Hostile $3.50/Share Bid For ExpressJet

[WAVIT Inbound]

Our scope and merger/acquisition language was not written to simply protect XJT pilots. If you read it the ultimate intent when all is said and done is to have an integrated seniority list, and not release control of our aircraft or flying until such an integration is complete. That's not how SKW prefers to operate. There is no way SKW gets relief from these sections of our CBA. I can't speak for others here, but I would rather see a slow death for XJT than be a link in Jerry's whipsaw chaingang for the next ? years. No fugging way. You want to buy the orange, you get the peel too.

Why do i keep hearing this from XJT guys? The arrogance of your CEO and now your pilot group will be the demise for a once great regional. SKW is not out to get you, but if you want to be responsible for taking out an airline and killing 1000's of jobs so be it.

 

[USCtrojan]

It might not happen, but that is what we would have to vote to give up. That is the key, we have it in place. My view on it is this, damned if we do damned if we don't. We decide to keep our clause (again good for all pilot groups) and Skywest says no thanks then. Then CAL says you will lose planes beginning the end of '09, year and half away. Many changes over that long of period awaits. But gives our group time and options. Or we give our clause away for some short term gains but in the long run we all still fight each who is the best performance blah, blah, blah. Either way I still look for a job starting all over at a regional because Jerry feels he can do whatever. Or I keep the clause intact and make Jerry deal with us all. I for one don't want to work at Home Depot again.

XJT HAS A $130 MILLION DOLLAR BOND DUE IN JUNE. How much cash does XJT have on hand now? Why do you think Jerry A. made his deal go down now? You guys are talking a few more years, I don't see it in your cards. XJT may not have enough cash on hand to last through the Summer. Unless they find another investor. Right now, I see one suitor....

Trojan

 

[ATRCA]

Personally, I like Hawaiian Punch better. Yum, I just had a glass this morning and I feel Greeeeeeeeeaaaaaaaat!" But in all seriousness, if you would like to get on the Christmas Kool-Aid mailing list which I started ealier this year for those ASA(pro ALPA) anti-SkyWest folks then feel free to sign up. Sign up now and you will get at least a 10 year supply of Jerry's special super hero blend. Wow, that stuff is awesome, it keeps you flying longer and higher than the traditional "branded" blend plus it won't leave you mindless after the imminent zombie like hangover. So sign up now and you too can be busting down walls with Jerry. It's a lot of secured fun even without the traditional scope blend, so don't be afraid and come on, what are you waiting for. Join the biggest happiest Kool-Aid mailing list in town. Act now or you will definitely be grounded.
Gee, I'm getting thirsty just talking about it.

Damn, you almost make it sound good. Unfortunately, I've never been into fruity drinks especially the company kind! Good luck to all.

 

[Andy Neill]

XJT HAS A $130 MILLION DOLLAR BOND DUE IN JUNE. How much cash does XJT have on hand now? Why do you think Jerry A. made his deal go down now? You guys are talking a few more years, I don't see it in your cards. XJT may not have enough cash on hand to last through the Summer. Unless they find another investor. Right now, I see one suitor....

Trojan

They show $187 million on the most recent quarter and losing 16% ($31 million) of that per quarter. If you take out the $130 million bond and the loss rate continues at $31 per quarter, that has the cash running out in five months.

If course, if you used the same math to Great Lakes 10 years ago, they would have only a month and a half left to live back then and they are still here.

 

[USCtrojan]

They show $187 million on the most recent quarter and losing 16% ($31 million) of that per quarter. If you take out the $130 million bond and the loss rate continues at $31 per quarter, that has the cash running out in five months.

If course, if you used the same math to Great Lakes 10 years ago, they would have only a month and a half left to live back then and they are still here.

Thanx. There also has to be a bingo number there. Meaning, money crosses hands daily to pay bills, offer refunds, etc. So my guess that bingo number is not $0. Probably around $30-$50 million cash on hand to deal with day to day transactions.

Trojan

 

[TheCheat]

Good Faith?

Correct me if I'm wrong, (and I work for XJT, not Skywest) but I'm pretty sure that "good faith" at Skywest went out the window the moment an ALPA drive was organized. Even though it didn't pass, the pilot group showed that they were willing to give up the "mom and pop" environment of the airline in exchange for the "us vs. them" environment that union representation brings.

The gloves have come off at Skywest, and the mom and pop days are over, union or no union.

Again, my opinion, please correct me if I'm wrong.

Namaste B1tches

 

[Andy Neill]

Remnants of it remained after each of the four union drives since 1998.

 

[XPOO]

Correct me if I'm wrong, (and I work for XJT, not Skywest) but I'm pretty sure that "good faith" at Skywest went out the window the moment an ALPA drive was organized. Even though it didn't pass, the pilot group showed that they were willing to give up the "mom and pop" environment of the airline in exchange for the "us vs. them" environment that union representation brings.

The gloves have come off at Skywest, and the mom and pop days are over, union or no union.

Again, my opinion, please correct me if I'm wrong.

Namaste B1tches

That's because the pilots turn in their cards in order to get free hot dogs and sodas. And those cool looking lanyards and pins. That's all. I guess if they ALL wanted a Union, it wouldn't have been voted down FOUR times now.

 

[MJG]

Well the CAL BOD just announced, on a Sunday no less, that they want the airline to fly solo for now, no merger.

So now I wonder how this development plays into the whole thing.

 

[WalterSobchak]

Well the CAL BOD just announced, on a Sunday no less, that they want the airline to fly solo for now, no merger.

So now I wonder how this development plays into the whole thing.

Indeed...a good question.

From Bloomberg.com: Continental Air to Shun Mergers, Remain Independent (Update1)

Sounds to me that, if Glenn Tilton's job was to come in and turn UAL into an attractive merger/acquisition target, he has failed miserably. It seems no one wants to have anything to do with them. Perhaps it is time for Tilton to don his golden parachute and allow someone who gives a damn about turning UAL into a great airline again take the reigns.