Yepper... that about does it- doesn't constitute the yelling though.. I don't expect Wake's parting to change much of anything- but I do expect a few weeks of nothing, then mgmt trying something, that will more than likely just **** off the pilot group more (is that possible? )... This will be entertaining as it goes on, personally I think mgmt will realize that attrition will not slow until they get a contract, more flying wont come til they get a pilot contract, and the company will suffer until a contract comes. I just read a research report on Pinnacle airlines- ticker PNCL and they are VERY flush with cash. A $20M difference is more like an investment at this point. The pilot group is the base of this "liquid" company and without a good base the rest wont stand. The pilot group here is great and very united, but the company will only start crumbling from the top down if mgmt doesnt invest a little in the company. I have not been here very long, nor do I claim to be an economist but this makes no sense by any terms. The only thing Phil can get by 17 planes running off is roughly $40M in his pocket. The company is not short on cash, and due to that fact the $40M in revenue is like a disability check- its good to have and you dont need to do anything for it, but it doesn't help your progress. PCL has Colgan as its baby, A contract with the 9E guys can let Phil devote his time/money to colgan and other projects. With 139 planes and a contract and ASA with big daddy NW 9E would be on autopilot for some time, huge revenue stream, and steady profits which keep the stock price up and keeps PNCL holdings competitive for all bids for other flying. I have absolutely no quams about other flying, including Colgan or trying for delta flying, etc. But a contract with scope in writing goes a long way. The only way to staff growth is at least an industry average contract. Dragging out this contract makes no sense on any side of the fence. Phil is a large shareholder, by losing 17 planes he will lose alot of personal cash. Check out this link of who is at risk to lose money. Uncle Phil has thousands of shares!
As a shareholder myself I hope the street has the same views as myself. On paper this company looks great over the past year- hense the stock rise from the low of $5.72... Over 3x where it was a year ago.. timing is everything!