Guys, there are PLENTY of pilots out there who hold an ATP (or have the minimums) but didn't apply to work at a regional airline because the compensation wasn't there. There was never a shortage of pilots to fly for the regional airlines - only a shortage of pilots willing to work for regional airline lifestyle and pay.

If the minimums for flying Part 121 include having an ATP certificate (or at least ATP minimums) then the price for recruiting that talent will go up as well (at least to family-sustainable levels for FOs) and an entire world of pilots who would never have considered flying for a regional making 20-25k a year will be available.

I do agree with sqwkvfr though; the previous generation's career path through piston cargo 135 is shrinking going away due to Check 21 legislation, and the replacement of light twins with SE turbines like Caravans and TBMs. There are still jobs out there to be had for companies like Flight Express and Central Air Southwest...just substantially fewer of them due to smaller companies and substantially less attrition.

The raising of minimums thing is a stupid reactionary move and a only smokescreen at that, especially given that the Colgan FO had ATP minimums...just not the certificate.