I believe "you're" is the word you were looking for. Please carry on.

 

You should be able to tell me what caused the decline and the eventual sale of basically assets of LXJT.
Now the stubbornness to not see that decline, to not try to take action even if it means little things like checking in (seriously how hard is it to log onto your phone once a week for a 4 day and hit "check in")...but OH NO you want to **** and moan about....that is the attitude that INC has seen from the get go. I wish you all luck.

 

First time flyer, long time moron.

I hope somebody hands you a helmet every time you walk out the door. Better yet, how about we make a sign that says "I have no clue" that we can hang around your neck. That would save the rest of us a lot of trouble.

 

Your financial information is completely incorrect.

You can't count. Try again and tell me how much money 9 figures are.

I noticed you didn't deny you were purchased and made a subsidiary of Atlantic Southeast. Thanks, now let's move on.

The argument about common CEOs has been tried and failed.

Where did I leave my red Swingline????

 

Instead of acting childish, post up some factual data and profits statistics that shows the timeframe that Inc has owned ASA after it bought them from Delta, then post the data from the time ASA/INC purchased XJT.

I'm not the one making the big calls, I'm just point out the facts. One side has made money and had contracts that made money for INC. The other side has not. Its not like I'm making this up or I'm the one that made it happen. Sometimes the truth hurts, luckily I have my helmet. You want to borrow it before you pound your head on your desk?

 

Just to settle the dispute. ASA purchased Expressjet for $6.75 a share for a total of $133 million.

"In August 2010, SkyWest Inc. announced that it had entered into a definitive merger agreement with ExpressJet Holdings, whereby SkyWest Inc.'s wholly owned subsidiary, Atlantic Southeast Airlines, would purchase ExpressJet for $6.75 per share. Atlantic Southeast Airlines and ExpressJet became the world's largest regional airline on November 12, 2010 once the purchase was final. The self-proclaimed "Super Regional" airline is based in Atlanta."


"This isn't the first time SkyWest has looked at ExpressJet. Back in 2008, SkyWest made an offer for the airline for $3.50 a share. That didn't go through, and today, SkyWest is paying $6.75 a share. Shareholders of ExpressJet should be very happy to have pulled that in. [Update: There was a reverse stock split late in 2008, so the original offer in 2008 would have brought in about $180 million while this will bring in $133 million. I still say the ExpressJet shareholders should be happy about this considering the continued losses at ExpressJet.]"

One more article in case there is any confusion: SkyWest to acquire ExpressJet in continued US regional consolidation | CAPA - Centre for Aviation

"Subsidiary Atlantic Southeast Airlines will acquire all of the outstanding shares of common stock of ExpressJet Holdings, Inc. for USD6.75 per share in cash, representing a net purchase price of approximately USD133 million after accounting for the shares already owned by Atlantic Southeast."

 

Continued losses, even before SkyWest bought them?!! That contradicts everything Nevets says. You can't post stuff that disproves Nevets, the universe will implode in on itself.

 

I don't know what he said, but it has been continued losses. Probably the reason XJT was purchased for $50 million less than when they were first looked at by INC.

Speaking of $50 million, that is about what INC is saying Expressjet lost in 2013.

Steer Clear of SkyWest, Inc. (SKYW)

 

I've done it several times here but I'll go through it again. CAL spun off XJT to make some money. They sold it off at $16 per share. The reason why it was such a high price is because CAL wrote the CPA that guaranteed XJT 10-11.5% profit. CAL made half a billion selling 50% of XJT. They slowly would sell off all but one share (in order to maintain control per the CPA) and use those proceeds to fund their pilots' defined benefit plan (pension). What the finer print in the CPA said was yet to be known to everyone. After five years (2007) and every year thereafter, the CPA required CAL/XJT to go into arbitration if they couldn't agree on a rate reset. The first year they settled with XJT being guaranteed 8.5-10% by the elimination of some pass through costs. The following year they couldn't come to an agreement so it went to arbitration. CAL lost in that even though the rate was lower, it wasn't even close to what CAL wanted. If I remember correctly, it amounted to about 2% of what they wanted. So the following year, seeing as that arbitration wasn't going to allow CAL to lower the rates as much as they wanted, they used another clause in the CPA to exert pressure. When CAL/XJT werent able to come to an agreement again, CAL threatened to use their 25% removal clause. XJT called their bluff and CAL proceeded by announcing the removal of 69 aircraft. Except that if CAL did that, XJT had the first right of refusal on those aircraft. That gave birth to XJT's branded flying, the charter department, and the DAL CPA & pro-rate flying. Of course, shortly thereafter the price of oil reached $147 per barrel and there wasn't even a chance to see if it would work after that.

At the same time that XJT was losing millions and millions every quarter (2008), CAL paid Skywest $9M for their due diligence to buy XJT. After their due dilligence, Skywest made an offer to the XJT BOD, which was rejected, then a counter offer which was presumably accepted, except that it came with conditions which the BOD didn't have control over. That's what brought the XJT MEC into the picture. Skywest's conditions where for the XJT MEC to waive its scope and holding letter. They asked us to take concessions (16%) as part of the deal in order to bring us to parity to the average skywest pilot compensation. Skywest negotiated a 15 year CPA that would have brought all 69 aircraft back into the CALEX and parked the 30 135s. But it was actually two separate CPAs, one for about 219 aircraft and one for about 25 aircraft that skywest pilots would fly. They would also furlough 700 pilots and offer them preferential interviews at skywest. After some negotiations, the XJT MEC declined. But in the mean time, CAL now had a negotiated CPA with Skywest that took into account in the block hour rates, any synergy savings, economies of scale, savings from renegotiated (larger) vendor contracts, and pilot concessions. So CAL exercised another clause of the CPA while using the negotiated Skywest cpa by telling XJT that it either offer CAL a CPA at least as good as Skywest's or they would give XJT their 12 months notice of cancellation of the entire CPA with the subsequent draw down already written into the CPA of 15 aircraft per month until all aircraft are gone. The XJT CEO signed Skywest's CPA and so now even though the hugely unprofitable branded, charter, and pro-rate flying was gone and all those aircraft were back into CPA flying with CAL again, the low block hour rate from Skywest's CPA still generated a loss for all 244 aircraft. That's when they asked us for concessions, by the way.

Now like I said earlier, I'm willing to give up not having to check in again but it wont be for free. If they want us to check in, acars reassignments, PBS, no b fund, lower 410k matching, lower sick accrual, no OJI bank, no LTD, lower per diem, higher health care premiums, then they will have to give us something of equal value in return.

I didn't mention anything about ASA because its irrelevant. The fact is that Skywest Inc actually created a shell company called Expressjet Delaware and after it bought Expressjet inc holdings, it merged those two companies together with Expresejet being the surviving company. This was all part of the attorneys convincing our mec that the scope and holding letter no longer applies. This was different from how they attempted to buy us the first time in which skywest inc holdings bought expressjet inc holdings and operated them seperately with asa. After Skywest bought xjt and merged it with delaware and having expressjet survive, THEN it began the merger process with ASA, which took about a year. Here let me show you an exerpt of the merger agreement. Dont get confused though, its a merger between expressjet holdings and expressjet delaware.

THIS AGREEMENT AND PLAN OF MERGER, executed this 3rd day of August, 2010 (this “Agreement”), is by and among SkyWest, Inc., a Utah corporation (“Parent”), Express Delaware Merger Co., a Delaware corporation and an indirect wholly owned subsidiary of Parent (“Merger Sub,” and together with Parent, the “Parent Parties”), and ExpressJet Holdings, Inc., a Delaware corporation (the “Company”).
Section 1.1 The Merger. Upon the terms and subject to the conditions set forth in Article VI, and in accordance with the DGCL, at the Effective Time (as defined in Section 1.2), Merger Sub shall be merged with and into the Company, with the Company surviving the Merger. As a result of the Merger, the separate corporate existence of Merger Sub shall cease and the Company shall continue as the surviving corporation of the Merger (the “Surviving Company”). http://www.sec.gov/Archives/edgar/da...162_1ex2d1.htm


So the CEO of merger sub became the ceo of expressjet holdings. I can also show you where it says that on the merger agreement.

By the way, at least I can admit when I'm wrong. But you kept holding on to the notion that acey had one syllable and then try to say you were just joking.

Anything else Milton?

I don't think that anyone is denying that ASA made money for skywest after it bought it. But keep in mind that skywest also negotiated that asa with DAL and in it, it also has a clause called the 2nd lowest that just so happened to coincide (the first time) very closely with the purchase of xjt. You see, skywest new that their revenues from asa were going to come down. That's part of the reason why they supposedly threw us a bone and said they would merge us with asa this time around instead of keeping us separate. They needed to save money with synergies and spread their costs. But yeah, the other side (lxjt) has not made money. But its not because of the pilots, or any front line employee for that matter. We all took concessions.

See above but regardless, the point is that it wasn't the president of asa who decided to buy xjt. This was a decision of the skyw bod and its ceo, using its capital to consummate the deal.

See above. It doesn't contradict anything. You just assumed they were right. And I just recently was proven wrong in this thread. Universe is still here.

Did you calculate that $50M before or after the reverse stock split?

 

None of which effects the fact that INC. is showing XJT losing money... something is going away... and LXJT seems intent on painting a target on themselves....