Spirit starts driving the final nails...

[Dizel8]

The $3 stock means there are a lot of shares outstanding. Everybody else has a lower price or lower number of shares.

Whethere there is 100M shares at a buck or one share at 100M, marketcap is still 100M.

If B6 reverse split to equal the number of shares at UAL what would the share price be and what would the market cap be? Well, market cap would not change and share price would go up!

I must be missing something, what are you trying to say?

 

[Bighorn]

Self help is a double edged sword.

After 30 days cooling off, it means that the pilot contract is null and void. The company can impose any working conditions and pay rates that they desire.

After 30 days cooling off, it means that the union has the option of going on strike.

It is a dangerous game of chicken during this recession. Once self help is approved, there is no turning back. The 30 day clock starts for our pilot contract to disappear. This is what happened to the mechanics at NWA pre-bankruptcy (in their case the company requested self help). A strike would mean that the furloughed pilots won't be able to collect unemployment or WIA funds (also happened to the NWA mechanics)

Scary Stuff. How fast does something like this traditionaly happen. Does it go before a judge and he rules in a week or is it months? If you don;t know thats cool I was just wondering.

 

[Mike man]

We just asked to be released from mediation

Source?

 

[Mike man]

Spirit Airlines had $79,090,000 of cash and short term investments at the end of last quarter.

Can't find financial info on bts.gov...can you provide the link?

 

[Bighorn]

Source?

3 newpapers and our union sent out a letter yesterday. I kind of believe this one.

 

[Mike man]

Right...I really need to learn to read!

 

[enigma]

A release at Spirit would lead to total union collapse. We have no procedure in place to support a strike. Our SPSC has been almost completely invisible since the MEC changeover last March.

No strike Authorization vote has been taken. Nothing that could be taken as even a primary preparation has been accomplished.

This could get very ugly.

 

[boomlrd]

There is about 125 of us FO's that will be on the street in a month so that the rest of the pilots can be more productive and work more days and more hours, I am ready and militant! So I can tell you that it should get ugly, and we should burn it down! I am doing what I can to rally the troops, if we are the cheapest airline to operate and one of the lowest paid, then how in the hell are we losing so much money? LIES! I say call their bluff! If this place can't operate at our current cost structure, it deserves to be shutdown! Where is my picket sign? Where do we meet? And where is that giant blowup rat? Lets do this!

 

[greenbayfan]

and we should burn it down!

You don't have to burn it down, it is self imploding.

 

[Draginass]

Self help can mean a lot of things, not just a general strike. You can ratchet the pain level to the company up and down at will. Make 'em burn their money.

 

[Bighorn]

You don't have to burn it down, it is self imploding.

Source?

 

[Jeff Helgeson]

It could get ugly...

Self help is a double edged sword.

After 30 days cooling off, it means that the pilot contract is null and void. The company can impose any working conditions and pay rates that they desire.

After 30 days cooling off, it means that the union has the option of going on strike.

It is a dangerous game of chicken during this recession. Once self help is approved, there is no turning back. The 30 day clock starts for our pilot contract to disappear. This is what happened to the mechanics at NWA pre-bankruptcy (in their case the company requested self help). A strike would mean that the furloughed pilots won't be able to collect unemployment or WIA funds (also happened to the NWA mechanics)

...The BOD is directing management to change work rules and degrade QOL. With Jonny O. on the BOD and the state of the industry, it could get very ugly.

I wish the best for Spirit. There are a lot of good people there and it is a good airline.

 

[vandypilot]

If this place can't operate at our current cost structure, it deserves to be shutdown! Where is my picket sign? Where do we meet? And where is that giant blowup rat? Lets do this!

This is exactly how we need to treat this place and this industry. Whats the point in working someplace that cant get its S**t straight.