Allegiant Air
12-13-2014 | 12:13 PM
#1291
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Joined: Jul 2012
Posts: 480
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Former North American here. Not to scare anyone, but for us Steve was basically brought on board to suck as much money out of the operation as possible for the investors before bankruptcy. The man has no soul or conscience, and will do whatever it takes to get the most out of Allegient for the investors only with no intention of building a stronger company. That was his goal at NAA and he was given a bonus for it. Again that was just what happened with us. I'm usually a glass is half full guy and didn't believe it but that is what ended up happening. It sucks but I think with everything going on over there recently it looks like you guys are headed down the same path. Just my opinion of course. The good news is EVERYONE is hiring NOW.
That’s pretty much par for the course. Airlines especially, subscribe to the Napoleonic school of management. Lorenzo wannabee’s are all we’re use to. It’s all-good, if a fight is what he came here for, a fight he’s gonna get. Lots of lifeboats in the water these days, and not afraid to jump in one.
12-13-2014 | 12:55 PM
#1292
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Joined: Dec 2005
Posts: 1,413
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The short answer is yes. Documents that came out during the Global/World/North American bankruptcy painted a picture that neither airline was expected to survive after the wind down of the war. The Matin Patterson folks desired to pull as much cash out of the operation before it happened.
Thanks for the info. One question: was North American already on shaky financial ground when this guy was brought in? The reason I ask is that Allegiant is very strong financially and I don't see a shutdown anywhere in our future (except for the one WE are going to create). This guy seems like a hired gun brought in to keep employees at bay and make the ultra rich even richer. He's going to be met with 500 fed up pilots on Day 1.
12-16-2014 | 08:55 AM
#1293
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Joined: Feb 2007
Posts: 1,434
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From: 1st year pay for the 3rd time
Quick question regarding the $2 dividend. Does that get logged as an operational expense? In other words, when they pull the $44 million out, will that automatically change our pay band?
12-16-2014 | 09:57 AM
#1294
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Joined: Sep 2006
Posts: 580
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From: Back in school.
I'm no accountant but I wouldn't think so as it is not a direct operational cost...
12-16-2014 | 10:54 AM
#1296
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Joined: Feb 2010
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No, it comes directly from cash on hand. If that affected our pay, you would see blood in the streets.
12-16-2014 | 02:52 PM
#1299
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Joined: Jul 2012
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I hope you are not suggesting that our management would manipulate the balance sheet to show whatever numbers would support their position. Thereby paying us whatever they deem necessary, that is not reflective of the actual wealth and health of our company? The good senator wouldn’t lie to us? He certainly is a man of impeccable reputation and above reproach. I ask you, has he lied before or after this alleged “cooking” of the books??
Last edited by Xbone; 12-16-2014 at 03:21 PM.
12-17-2014 | 07:33 AM
#1300
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Joined: Feb 2007
Posts: 1,434
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From: 1st year pay for the 3rd time
Does anyone use LogTen Pro?
Is there a way to import your schedule from Merlot?
Is there a way to import your schedule from Merlot?
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