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Old 06-29-2013, 05:45 AM   #51  
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Well, the lawyers will get 60%.
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Old 06-30-2013, 12:12 AM   #52  
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In the words of Will Ferrell..."Rip his head off, rip his head off!"

Done.
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Old 06-30-2013, 06:12 AM   #53  
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Quote:
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Well, the lawyers will get 60%.
40% is better than 0%
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Old 07-01-2013, 03:59 AM   #54  
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I wonder if the business model doesn't have enough potential at this point for say Uncle Warren to swoop into bankruptcy court and buy him a turboprop operation at a heavy discount? I would imagine the leases on the planes would be quite negotiable at this point especially if many need heavy MX.
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Old 07-01-2013, 07:19 AM   #55  
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I wonder if the business model doesn't have enough potential at this point for say Uncle Warren to swoop into bankruptcy court and buy him a turboprop operation at a heavy discount? I would imagine the leases on the planes would be quite negotiable at this point especially if many need heavy MX.
Buffet doesn't do corporate rescues. He buys going concerns that he feels are undervalued. He's very focused on cash flow generation, which Avantair isn't doing much of.

However, there are definitely others with deep pockets who do specialize in corporate rescues, and there are consultancies that specialize in steering clients through bankruptcies. And others who specialize in corporate disassembly. All of these types usually come in before or concurrent with the Chapter 11 filing. The fact that there haven't been any announcements of the involvement of rescuers or DIP financing implies that potential rescuers and lenders have looked over the books and decided not to get involved.
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Old 07-02-2013, 09:14 PM   #56  
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For those affected, I'm sure you have seen this but just in case.

Avantair Layoffs | Kwall, Showers & Barack, PA

This is my favorite part,

"You will note that our clients are seeking to hold the corporate officers personally liable for the unpaid minimum and overtime wages under the Fair Labor Standards Act."
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Old 07-03-2013, 07:40 AM   #57  
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I want to see Santo be forced to open his wallet to finance the $800k in payroll!!!
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Old 07-07-2013, 01:42 PM   #58  
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Instead of a buyout of the entire fleet, how about displaced pilots managing P-180's for the owners individually. I am sure there are owners who liked the airplane and pilots who wish to keep on flying the Avanti. Good Luck to those affected.
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