What's the Latest at ASA/Expressjet?
08-24-2014 | 11:52 AM
#7051
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From: EMB 145 CPT
I'm sorry but that's woefully out of context... I think that quote was picked from a statement were someone had asked why they weren't drawing a harder line with the xjt side... Tony then responded with that quote and went on to specify how he considered that bad practice as I recall... But I'm sure your memory is selective and you don't actually want people to know that...
Let's get it together here people, this is getting childish...
Let's get it together here people, this is getting childish...
I do agree that that was taking the quote out of context. And even if it isn't out of context, that's what I would expect my MEC to say about the other! Each MEC is doing what they believe is in the best interest of the pilots they represent. With that said, there were some obvious lies (or inaccuracies uncontested) told on that call. Off the top of my head, the wind down of the ERJs in 3-5 years, the 100 plus aircraft being parked all being ERJs, the status quo if the arbitration is lost, etc.
08-24-2014 | 12:04 PM
#7052
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Joined: Aug 2014
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There you go again making stuff up. Skywest Inc bought xjt for $133, which xjt had as liquid assets at the time by the way. ASA didn't have any cash position, Inc does. And even if ASA had a 9 figure cash position, doesn't that make it one dollar short of $10M, at best? Seems to me that even using your $26M number, you fall short. And just because some smart attorneys write some fancy words and create shell companies to affect the transactions doesn't mean that Inc didn't buy xjt. That was all part of the game they played to try to show that our scope and holding letter doesn't apply. We all know that there is ONE CEO and ONE BOD. It's the same CEO and BOD ASA had before Skywest bought xjt and it's the only CEO and BOD that makes the decision to purchase an airline. Otherwise you would have us believe that the ASA COO BH concocted the idea and executed the purchase of xjt and then told his CEO and BOD about it. Either you think we are stupid or someone else is.
Nobody is talking about SLI. The fact that that is even in your thought process shows that your position doesn't hold water. Xjt wasn't going anywhere. Cal was not going to let 244 aircraft be parked in a chapter 7 liquidation as you allude to. Dal couldn't even let pinnacle go under and they had fewer aircraft. Fact is that xjt was starting to turn it around and was in talks with airways. If you read the merger agreement, Inc required xjt to halt all negotiations with airways. And guess who got that flying shortly thereafter?
Anyway, stop trying to say things that aren't true. You get called out on them at least half the time. How many syllables does Acey have? One right? You still holding on on to that one?
Ps here is a wsj article quoting the president of Skywest inc, not the president of ASA.
SkyWest to Buy ExpressJet for $133 Million - WSJ
SkyWest Inc. agreed to pay $133 million in cash for ExpressJet Holdings Inc.
Brad Rich, SkyWest's chief financial officer, didn't rule out further deals as the regional sector tries to handle pressure from the majors to cut costs and improve efficiency.
Rich said the new deal is completely different as it has reached a new pact to fly on behalf of Continental that extends the existing term and will ease its aircraft replacement plans.
Rich said SkyWest aimed to combine the airlines within 12 months, and forecast a 45-50 cent boost to annual earnings from $60 million to $70 million in cost savings.
Nobody is talking about SLI. The fact that that is even in your thought process shows that your position doesn't hold water. Xjt wasn't going anywhere. Cal was not going to let 244 aircraft be parked in a chapter 7 liquidation as you allude to. Dal couldn't even let pinnacle go under and they had fewer aircraft. Fact is that xjt was starting to turn it around and was in talks with airways. If you read the merger agreement, Inc required xjt to halt all negotiations with airways. And guess who got that flying shortly thereafter?
Anyway, stop trying to say things that aren't true. You get called out on them at least half the time. How many syllables does Acey have? One right? You still holding on on to that one?
Ps here is a wsj article quoting the president of Skywest inc, not the president of ASA.
SkyWest to Buy ExpressJet for $133 Million - WSJ
SkyWest Inc. agreed to pay $133 million in cash for ExpressJet Holdings Inc.
Brad Rich, SkyWest's chief financial officer, didn't rule out further deals as the regional sector tries to handle pressure from the majors to cut costs and improve efficiency.
Rich said the new deal is completely different as it has reached a new pact to fly on behalf of Continental that extends the existing term and will ease its aircraft replacement plans.
Rich said SkyWest aimed to combine the airlines within 12 months, and forecast a 45-50 cent boost to annual earnings from $60 million to $70 million in cost savings.
08-24-2014 | 12:53 PM
#7053
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From: EMB 145 CPT
What's the Latest at ASA/Expressjet?
Check again on what 9 figures means, ASA had at least $100 million in the bank which counted as part of Inc's total cash on hand when Inc woud report their numbers. They bought XJT for about a net payment of $26 M because of the liquid assets and cash on hand that XJT had at the time of purchase. It is not that hard to figure out but most pilots are so business illiterate that it does not surprise me you are having difficulties. Maybe your aviation forum time would better be spent getting an MBA so you could understand some of these things, it might even help with your plan B and C! Not knowing how much 9 figures amounts to is worse than not knowing how many syllables ACEY has.
So I can't count! Regardless, if ASA had $100M in some bank account, how much does ASA have now? The Q doesn't say. The fact is that Inc reports their assets, not ASA and XJT and SKW separately. The point being that ASA didn't buy anything. Inc bought ASA like they bought xjt. Again, if you believe that BH did this as opposed to Skywest inc BOD and CEO, and that the maneuvers by the attorneys was anything other than to try to show that our scope and holding letter didn't apply, then that's really is worse than thinking that Acey has one syllable. But seeing that both those beliefs come from the same person, it's irrelevant, like the 9 figure comment.
08-24-2014 | 02:53 PM
#7054
Gets Weekends Off
Joined: Mar 2014
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You guys have He Said/She Said up this forum until it is almost useless, all the while missing the real question.
Just how long do you think St. George is going to lose money until they start to cut their losses?
Just how long do you think St. George is going to lose money until they start to cut their losses?
08-24-2014 | 03:25 PM
#7055
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From: Delta Gear Slinger
Where have you been? They're already cutting the fat by not renewing unprofitable contracts and retiring those aircraft.
08-24-2014 | 04:04 PM
#7056
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I guess my question was a bit shrouded. One side seems to be acting like they are bullet proof.... My question is just how long do you think INC. is going to put up with it.
08-24-2014 | 04:36 PM
#7057
Stuck Mic
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You decide.
08-24-2014 | 06:12 PM
#7058
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"You decide"
I've decided that your a douchbag. Please **** all of you!
I've decided that your a douchbag. Please **** all of you!
08-24-2014 | 06:34 PM
#7059
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You folks should probably go ahead and find a hobby. Every time I get on here it's the same guys arguing at each other about the same old $hit!
08-24-2014 | 07:11 PM
#7060
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From: EMB 145 CPT
What's the Latest at ASA/Expressjet?
They are not putting up with anything. They are executing their business plan. No one is bullet proof and we all know it. Some things may be worth taking a bullet for.
The other side you speak of use to have a very good cooperative relationship with management before about 5 years ago. So much so that this side agreed to take concessions. This side also had a history of profit (with the same aircraft and contract we have now by the way) and historically very good performance metrics, no matter how you choose to measure it. So you decide, what's changed?
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