Originally Posted by
cybourg10
Quote:
Originally Posted by FDX8891
Two things:
One: SkyWest Inc. had a huge part in the money-losing CPAs you speak of...
Two: SkyWest Inc. cannot declare ExpressJet bankrupt. In order to do that, all of Inc. would have to go bankrupt. You really think they're gonna screw their shareholders over and tank their stock so they can get concessions out of us?
God, this sh*t spewed on here makes my head spin.
I am very aware of the facts of the SKW buyout and CPA, I lived through it including the initial offer in 2008 that included 15% paycuts/PBS/and 700 furloughs.
SkyWest CAN CH11 bankrupt the XJT side (confirmed by our own union) which would probably increase the stock price since it would cut out the only money losing portion of Inc. If you are not in the top 1800 or so on the list I would be looking for a new job immediately.
16% pay cut which included PBS, getting rid of the defined contribution fund, and other contractual changes (which we know from the failed TA that they wanted to get rid of our LTD, doctor's notes, workers comp, decrease per diem, and decrease sick accrual) That was to bring down the XJT pilot into parity with Skywest pilots. And 750 furloughs plus 25 of our ERJs going over to Skywest for their pilots to operate. But they were going to give the furloughs preferential interviews.