Originally Posted by
Nashmd11
I am amazed that ream still has a Job. And the pilots over there love the man.
Now XJT is going to furlough anyway!! The XJT pilots were too damn proud to take the SKW offer. Because they would have to Furlough. Well looks like its going to happen anyway.
And this is after turning down a 3.50 offer per share. Now XJT trades at .35 CENTS. What an idiot Ream is. He has lost share holders millions of dollars for nothing. Nothing against the crews in this Rant, but the management and Union leaders screwed up big time.
The stock would have to go up 900% to get back to the SKW offer.
I think that many pilots don't hate Ream because he didn't take the easy road. He could have just furloughed 700 pilots in Jan of 2007. He kept many pilots employed and many more hired because of Branded, Charter, and DCI flying.
As for the SKW offer (insult), they were going to close down Branded, charter, and the DCI prorate flying immediately while furlough 700 pilots and taking 29 of the aircraft and crew them with SKW pilots to do additional CALEX flying AND requires us to become 'cost competative' or lose an additional five aircraft a month to SKW!!! How is that better?
As for the actual offer of 3.50 a share and the current stock price, I could care less on how much the institutional investors lost in the deal. That had no bearing on the MECs decision to turn down the SKW offer.