Originally Posted by
Opus
The combined company would have 7B in cash. How much is stability worth?
I would agree with that and I'm willing to put up with some short term turmoil for the potential of stability (I say potential because I've learned to never put the phrases 'airline career' and 'stability' together). Furthermore, if you believe that 'Merger mania' is inevitable, then I think it's better to be proactive and choose you're partner rather than being reactive and settling for the leftovers late at night. The latter being my general approach in my single days at the O'club on Friday nights which produced some colorful but, in the end, rather embarrasing results.
However, I have two concerns:
1) I think it would be a shame if we left money and contract improvements on the table because we were unable to agree earlier and now we face the potential of having it rammed down our throats (and I say that without assessing any blame for why we couldn't come to an agreement). In fact, considering some of the givebacks we made, I think we should have been asking for more.
2) I think arbitration is always a mistake. It is far better to come to a negotiated agreement than to take it out of our hands and roll the dice with someone who may come up with something neither side expected.