Sorry, the report was in the MSP BIZ journal and Phil's comments were on his latest webcast
here's the artical:

Pinnacle Airlines jumps to new high
Minneapolis/St. Paul Business Journal - 12:22 PM CST Thursday
by Carissa Wyant
Staff Writer

Shares of Pinnacle Airlines Corp. surged to a 52-week high Thursday, after an analyst said the carrier it may be close to a new regional service agreement with Northwest Airlines Corp.

Memphis, Tenn.-based Pinnacle's ( Nasdaq: PNCL) stock jumped 44 cents, or 4.2 percent, to $10.74 in morning trading on the Nasdaq. Shares reached as high as $10.95 earlier in the session, topping their prior 52-week high of $10.71 set Wednesday.

Eagan-based Northwest ( Pink Sheets: NWACQ), which is restructuring under Chapter 11 bankruptcy protection, has been seeking lower costs from regional carriers, which feed passengers from smaller cities into Northwest's hubs in Detroit, Minneapolis and Memphis.

Calyon Secrities analyst Ray Neidl upgraded Pinnacle to "Add" from "Neutral" while boosting his target price to $12 from $9, saying the two companies "may be close to reaching a satisfactory agreement."

In a research note, Neidl wrote that once Pinnacle and Northwest can agree on a new contract, the market will assign a higher multiple to Pinnacle's projected earnings because of its more predictable earnings.

The analyst wrote that he no longer believes Northwest will wait for Pinnacle to reach a new contract with its own pilots before making a deal, "as Northwest is anxious to tie up this lose end to enable the carrier to exit bankruptcy early next year."

Neidl is looking for Pinnacle to earn $1.75 per share in 2007, compared with Wall Street's overall view of $1.60, according to an analyst poll by Thomson Financial.