Blue horseshoe loves Bluestar Airliines
#21
Forgive my ignorance, but is he only a threat if he gets offered a board seat? I don't know much about large stake investing, but what power does he have as a sole shareholder? Is this something you can do on your own or do you need help from the ELT?
I assume he doesnt have power until he has a seat at the table, which I think must be voted on?
I assume he doesnt have power until he has a seat at the table, which I think must be voted on?
If the board resists giving him a seat then he could put forth a shareholder proposal at the next annual meeting (usually in April/May I believe?) with a proposal to add Icahn as a board member. With 34m shares under his control it would likely pass.
https://www.sec.gov/ixviewer/ix.html...023_def14a.htm
#22
Gets Weekends Off
Joined APC: Jan 2008
Position: A320 CA
Posts: 228
With a 10% stake I am willing to bet he gets a BOD seat. 10% doesnt sound like a lot, but it is considering he is a single entity behind those shares. Blackrock and Vanguagrd are large shareholders but they are passive and do not get involved with board room issues.
If the board resists giving him a seat then he could put forth a shareholder proposal at the next annual meeting (usually in April/May I believe?) with a proposal to add Icahn as a board member. With 34m shares under his control it would likely pass.
https://www.sec.gov/ixviewer/ix.html...023_def14a.htm
If the board resists giving him a seat then he could put forth a shareholder proposal at the next annual meeting (usually in April/May I believe?) with a proposal to add Icahn as a board member. With 34m shares under his control it would likely pass.
https://www.sec.gov/ixviewer/ix.html...023_def14a.htm
#23
I'm Blue
Joined APC: Aug 2020
Posts: 128
I'm sure Icahn would be fine with JetBlue and Spirit getting together. Shortly after he took TWA private, he then had TWA acquire Ozark in 1986. The combined Airline was then slowly bled to death by Icahn with a Bankruptcy filing just a few years later. I'm sorry that you guys are going through this, hopefully it ends better for you guys than it did for TWA.
#26
Gets Weekends Off
Joined APC: Jan 2024
Posts: 142
The bottom line is Ichan sees value in JB, even if he gets a board seat it doesn’t mean he will sell it off but by bit. He don’t do it with eBay, he didn’t do it with Tropicana Casinos and he’s not doing it with the companies he currently has board seats and controlling interest in.
TWA was a mess, and TWA ALPA brought Icahn in! these are not the same times or the same situations.
https://www.chicagotribune.com/1985/...rd-with-icahn/
Maybe everyone take a breath. Including me.
#27
Gets Weekends Off
Joined APC: Oct 2017
Posts: 320
Doing some research, Icahn seems to have calmed down in his investment style. He owns 10% stakes in a bunch of companies. He isn't stripping them all. That being said he seems to have a hard-on for airlines. He made his fortune destroying TWA and has tried many times since then to buy other airlines but has been successfully blocked. Hes pushing 90 years old. Hopefully he just likes the stock.
#28
Gets Weekends Off
Joined APC: Jan 2008
Position: A320 CA
Posts: 228
I don’t think so, it was more of a,”hey look, someone else agrees”.
The bottom line is Ichan sees value in JB, even if he gets a board seat it doesn’t mean he will sell it off but by bit. He don’t do it with eBay, he didn’t do it with Tropicana Casinos and he’s not doing it with the companies he currently has board seats and controlling interest in.
TWA was a mess, and TWA ALPA brought Icahn in! these are not the same times or the same situations.
https://www.chicagotribune.com/1985/...rd-with-icahn/
Maybe everyone take a breath. Including me.
The bottom line is Ichan sees value in JB, even if he gets a board seat it doesn’t mean he will sell it off but by bit. He don’t do it with eBay, he didn’t do it with Tropicana Casinos and he’s not doing it with the companies he currently has board seats and controlling interest in.
TWA was a mess, and TWA ALPA brought Icahn in! these are not the same times or the same situations.
https://www.chicagotribune.com/1985/...rd-with-icahn/
Maybe everyone take a breath. Including me.
#29
Gets Weekends Off
Joined APC: Oct 2016
Posts: 360
It's getting real hard after all the bad news.
Unprofitable, shrinking/pullback, merger denied, and now this. I try to be glass half full but honestly, I'm at the point where I'm updating the logbook (gonna take a while). I have decent seniority here and want to work here, but reading and hearing stories about him and TWA are terrifying. This is just another place he can get money out of and then move on, leaving us broke or jobless. In this case, I'm not willing to "take a breath" while people like him swoop in.
Unprofitable, shrinking/pullback, merger denied, and now this. I try to be glass half full but honestly, I'm at the point where I'm updating the logbook (gonna take a while). I have decent seniority here and want to work here, but reading and hearing stories about him and TWA are terrifying. This is just another place he can get money out of and then move on, leaving us broke or jobless. In this case, I'm not willing to "take a breath" while people like him swoop in.
#30
Gets Weekends Off
Joined APC: Sep 2015
Posts: 276
My concern for you guys would be if Icahn does the same Karabu deal similar to TWA for selling tickets to his company for 55 cents on the dollar. Is lowestfare.com still around? Here is a fun rundown of the history of TWA and Icahn.
https://www.stlmag.com/TWA-Death-Of-A-Legend/
https://www.stlmag.com/TWA-Death-Of-A-Legend/
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