Your point 1 is far off base... with the exception of AMR, WN, AirTran, B6, Fedex and UPS, I can't think of any airline that didn't got thru Ch11, and all of them had their hands out for uncle sam to send money and guarantees their way. Gemini was actually turned down for loan guarantees due to it's size being too small at the time. And for ACMI as well, with Atlas having a BK.. fact is the Ch11 that Gemini went thru would have occurred no matter who was at the helm as world cargo volume took a nose dive for 3 years from 2001-2004. the year 2005-6 so far for Gemini have been among the best its' had since it started in 1996, and the capital behind the company (Bayside Captial) is poised to grow, grow, grow.. so look out.