The problem with this "rumor" is that you guys are looking at it too logically (as most pilots do). Whether or not two airlines look good going together and how much sense it makes has nothing to do with why mergers occur.
MONEY is what makes mergers happen. If Tilton or Bethune have nothing on the table for them, it's not going to happen. With Aloha in BK, oil at $100/bbl and Mesa's Go! airline charging $19 a seat--there's no money here. JMHO.