XPOO
You are now free to...
- Joined
- Nov 25, 2005
- Posts
- 1,874
I would agree with you except for one thing. The XJT BOD turned down the first offer before the pilots knew anything about either the offer, or its requirements to change the CBA. The official line was, and remains, that stockholders didn't get enough $$$ from the deal.
Stock worth $1.15 right now. JA offered three times that initially. I maintain that XJT tried to holdout for a better offer and never got one. Kind of like the Twins did with Santana this past off-season. Also, like the Santana deal, when the crunch was on the offers became less.
Regardless, the BOD knew the pilots would not accept the deal, as stated in the 8k filing, so their hands were pretty much tied in that aspect.