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Really? According to the 8k that XJT filed, it said they called SkyWest asking for one final offer (which JA lowballed even further from the original offer) after CAL stuck a gun to XJT's head and said sign this new agreement or else. XJT really had no other option as CAL said the deal had to be done within a day or their flying was going bye-bye. You spin it your way, I'll spin it mine.
I think CAL used SKYW as a decoy and as stated above used both of them to get the lowest price. Management always gets what they want, ALWAYS.
Really? According to the 8k that XJT filed, it said they called SkyWest asking for one final offer (which JA lowballed even further from the original offer) after CAL stuck a gun to XJT's head and said sign this new agreement or else. XJT really had no other option as CAL said the deal had to be done within a day or their flying was going bye-bye. You spin it your way, I'll spin it mine.
Maybe I'm biased, but it seems to me JA stuck to his guns. He was either going to get the deal he wanted, at his price, or nothing. Turned out to be nothing.
Meanwhile, SkyWest, Inc. keeps loading millions into the bank account while ExpressJet Holdings, Inc. keeps losing it.
I thought it was clear I was talking about the CPA SKW had negotiated with CAL. I was not talking about the buyout price or terms and conditions of the transaction. My comment you quoted was to a reply from a poster who I thought was speaking from the pilot's point of view. From the XJT pilot's point of view, the deal SKW had with CAL for XJT is far worse than what XJT got with CAL.
As for the transaction itself, obviously the special committee didn't think it was a good enough deal either since they "asked SkyWest to respond with its best and final offer to acquire ExpressJet and to remove as many conditions as possible to its merger proposal." Although I think favorably of the XJT management, I'm not naive enough to think they wouldn't have pulled the trigger on the buyout if they thought it was a good deal. That is why I wasn't speaking to the buyout. But I guess you drink enough kool aid that you took it as an attack on SKW and felt compelled to somehow defend what your management was trying to do to XJT pilots and the profession.
Can we please move on from this?
Please?
It's OVER, XJT will go on...and probably be good competition for us at SkyWest. We need to focus on providing a good product and improving our fortunes HERE instead of salivating over what JA and friends are going to do with that 600 million in the bank.
Then admit that you were just ASSUMING that SKW deal with CAL was worse than what XJT got? Since the details of the CPA between SKW/CAL was never released, how would you ever know?
You must also be assuming that in no way did XJT have to undercut the deal that SKW made to sign your own CPA with CAL?
If the new XJT/CAL CPA was that great, why did XJT ask for a one day extension with CAL in order to hear one last proposal from SKW? Did the BOD think JA would finally up his offer past $3.50 per share?