Originally Posted by
Mason32
You guys are so entertaining with all your "oh we're getting spun off stuff." Come on now, have any of you even thought it through in the stightest bit? I'll dumb it down for you all.
lets say...
AMR stock at $6.
AMR spins Eagle off to existing shareholders so the end result is shareholders have AMR/AA at $5 a share, and Eagle at $1 a share (example only guys - relax)... They have been telling your union for months that you are too expensive and not cost competative, and that they are going to outsource to the lowest bidder.
What this means is that AMR management is asking the Board of Directors to authorize the spin off of Eagle as a standalone, and to split the share value in whatever ratio they come up with... then they are going to bid out your flying to the lowest bidder which won't be you guys since Eagle is not cost competative... so, Eagle goes out of business.
Does that sound like a good career move to you for any of the CEO's? That business plan is career suicide. Both Arpey and Garton will be on the street the next day when all of the Eagle shares become worthless... and a few BOD members may be right behind them if they are to stave off a stockholder revolt.
This isn't about forcing you guys to be cost competative or to bid for your flying... it's about setting up their options to do an end run around our scope restrictions by spining you off, and making you an interline provider instead of a CPA contractor. The stage was set with jetBlue... You will do the same flying you do now, but in larger airplanes. As an interline provider you are not under our scope section for regional feeders, and by DOT standards you have become a major carrier. They will reprogram Sabre to make your flights the flights of choice when people book ticket travel, just as they do now. The revenue will be going back to the same group of shareholders.
The other option this spin off sets them up for is to BK us while having you guys around to continue flying as much of the schedules as possible.
In the grand scheme of things; getting your own union to help talk concessions is just icing on the cake for management.... it makes no difference if you guys work for free... it isn't about Eagle, it's about AA.
So on one hand Mason, you're arguing that Arpey and the boyz would be out on their keesters for partially hosing the shareholders with worthless Eagle stock (in your example, say 1/6) via spinoff, yet espousing that wouldn't occur by doing the same thing with BK for AA, with the exception it would be hosing 5/6th of their share value ?
.....and they'd do this simply to turn Eagle into their answer for competing with mainline DAL, UAL and LCC's like SWA with 90-seat RJ's, none of which have plans for wiping out their domestic mainline for a similar scheme ?
Or do you have Arpey transferring AA's 737's to Eagle as well ?
I must have missed something here...........perhaps you could clarify ?