What is going on here is Menke needs to get rid of the infrastructure of three companies and create one coherent operation out of this mess. He hired the consultants to get the required changes he needs to get this done.
These consultants will go to our "partners" to get contracts that will allow us to operate all of our aircraft one one certificate. They will come to the pilots to get a slowdown in the 11-09 award until he can get all the aircraft on a single certificate. If he can't do this, look for concessions that will limit the ability to transfer between certificates.
These consultants will also use the threat of bankruptcy to get major concessions from the lessors at One Commerce Square as well. 1CS is costing the company 3x what they projected just so Uncle Phil could have a nice office with a 14th floor view.
Anbody who can read a balance sheet can see this company is nowhere near bankruptcy yet. It is a real possiblity later next year if the company doesn't make some changes and fast. Anybody who has been listening to Menke since he walked in the door can't be surprised by any of this.
I'll make these predictions for a year from now:
1. We will either be on one certificate or well on our way to one certificate.
2. There will be massive layoffs at One Commerce Square and on the support side. I'd say one third to one half of the employees at 1CS will be on the street by this time next year.
3. All that will be left at 1CS will be the Executive Offices, if that.
4. Shy Fly Guy will still be crying that the sky is falling.
There will be no bankruptcy as long as Menke gets the concessions he needs to stay out of BK. If he doesn't get them, then he will take the company into bankruptcy to get them late next year.
Last edited by FlyingKat; 12-10-2011 at 04:53 PM.