everyone relax.
I talked with several of the guys on friday afternoon (the ones doing the negotiating) and they said they are discussing scope right now with the company and they are actually listening.
here is a few points i got from them.
1. the company could have put us in bankruptcy a long time ago, but they haven't. so if they haven't done it to this point they obviously want to avoid it at all costs. and for good reason.
2. the big note that is coming due next year isn't as big a deal as people are making it out to be. (dont get me wrong its a lot of money that has to be paid back) What pinnacle is trying to do is to gather up as much money as they can by then to pay as much of the debt as they can. so if we only pay half the debt do you really think the people who we owe the debt to are going to make us go into BK and liquidate to try and get their money? NO. we dont have enough assets to do that. the company would lose and the people we owe money to would lose their only chance of getting their money back, even if its late.
3. the company will want to get a contract this year, before that note is due. reason being is they are going to be looking for extentions for not only this note, but all the money they will need to buy all those q400's. with a pilot strike insight there is not one bank in the country willing to finance this if the cash cow (pinnacle inc pilots) goes under, then the entire company will too. colgan could not survive with out us.
4. after talking to the union guys and hearing what they have to say we are still short on fo's and the company cant displace anymore because then they would be short on ca's too.
5. as of right now (friday 30) there is no reduction in market hours planned for pinnacle this summer like everyone thought. infact even in the conference call they said that our flying will stay the same this year. they are taking loa's because they would like to keep the staffing levels to the minimum they can without incuring fines in the millions of dollars like they did this time last year. but as you note in the loa's being offered the company reserves the right to cancel them at anytime. and they aren't letting any fo's take the time off. so that should dispell the furlough rumor.
all in all from what i gathered we are getting closer to an impass. and that is what we want. that is what the company wants also. i guess they feel if we are both at the table and sweating bullets about an impending strike that both sides are willing to be a little more reasonable.