Originally Posted by
Grumble
It was a buyout disguised as a merger. LCAL stock holders were paid with LUAL stock.
I have no dog in the fight being post merger, but being a numbers nerd I've read the SEC filings to include the 10K's from both sides. LCALS debt trajectory was headed for the stratosphere and LUAL was sitting on billions in cash, and there was almost zero route overlap. From an operational/business standpoint they were made for each other and neither would have survived alone.
You now work for one of the largest airlines in the world, that just made $4b+ last year. Still want your LCAL W-2, profit sharing, contract, career earnings potential, etc?
You sir, are spot on. You have clearly pointed their flawed premise. This is why it makes their effort SO needless and more importantly, poisonous.
Sigh.
To your point of neither would have survived alone, I'm not so sure. I believe one would haved survived. While both would be to trying to outrun the BK Bear, all you have to be is a little faster than the other guy. You have to ask the question, who the Bear was going to catch first?