I was worried for JB when they appointed a woman as CEO. Plenty of examples of boards doing this when a company is in distress. There’s actually a name for this phenomenon, glass cliff. The motives vary.


https://en.m.wikipedia.org/wiki/Glass_cliff

Apparently his ownership is capped at 15%. That's good news considering the doom and gloom.

I've gotta say, with RH in charge... I often wondered if anyone even knew what we were doing. JG wasn't a good COO at all, but so far management on her watch seems to be proactive. Making sure Icahn can't get a controlling stake at least tells me they're trying to get out ahead of things and are actually using some foresight.

[QUOTE=MergingTargets;3769972]Apparently his ownership is capped at 15%. That's good news considering the doom and gloom.

I've gotta say, with RH in charge... I often wondered if anyone even knew what we were doing. JG wasn't a good COO at all, but so far management on her watch seems to be proactive. Making sure Icahn can't get a controlling stake at least tells me they're trying to get out ahead of things and are actually using some foresight.[/QUOTE

….profitable for the weeks and months ahead….
Wow. Is that all that’s left? Weeks and months?

RH is the reason we are in this situation.

What stops them for persuading the BOD to go private and gain full control. Just a persuasion of restructuring in the mean time frees up CapEX and the current leadership gets a ticket out in the meantime.

My opinion we can all simmer down now; the seats were additional, nobody was kicked off the board and it’s not Carl (himself), but a lawyer and a portfolio manager. The JetBlue board did a good job in protecting the airline by capping his stake in the company, no way he can ever have a controlling interest. Everyone take a deep breath.

I was leaning towards that line of reasoning as well, thanks.

I’m relived for now.

The way this deal is structured leaves our current board mostly in charge, and doesn’t let ichan have the ability to push for more seats until the second annual shareholder meeting.(and supposedly limits them to a 15% charge cap)

that gives time for the airline to pursue the current plan for a couple years. If it pans out and the airline starts making money there would be even more resistance to any change ICE would like to pursue.

Agreed this buys some breathing room for a year. Just watch for other activists possibly getting involved but overall this is a decent deal.

I feel like it is less likely to become TWA 2.0 and more likely to shrink so we can be packaged up for a merger with AS in another few years.

Edited for you😀 ^^^This^^^