Originally Posted by
1Seat 1Engine
Honest question then: What was the metric that made the AT board of directors decide to cash out as opposed to continuing independent operations?
I do not argue that the AT employees have built a company of value. Don't get me wrong.
But the irrefutable fact is that this isn't a hostile takeover. The AT board of directors sold the company. Why?
That is the 1.4 billion dollar question or in the BOD case the multi-miillion dollar reward question. When I got hired; week one. We had a coversation via teleconference with the president of Airtran. He talked about how great AT was. How we had been making money for years.
I asked him why no one had tried to take us over if we were doing so well. There was a long pause and
Joe Leonard says "I have been wondering that too" come to find out later he apporached SWA something like 6 times trying to make a deal.
I believe Airtran was created to be sold (at lease since 1999). I believe we were always a cash cow for management and the paid BOD. I am amazed at the silk purse created from a sows ear that AT became.
We had great MANAGEMENT at Airtran just no leadership. That is why everyone cheered when SWA bought us.
Maybe this is the price we will pay to get decent leadership.
However ths turns out the majority of folks will I feel be happy, hard working and productive SWA employees if given half a chance.
Just my thougts
B-