DCC anyone?
10-29-2008 | 05:17 PM
#31
Moderator
Joined: Oct 2006
Posts: 13,088
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From: B757/767
This is eery, but I guess it is right before Halloween...
There are so many parallels to USAirways East and West and their arbitration. The lawyers are the same. The arguments are very similar. The confidence each side has in their team is the same. Airways East thought they'd hit a home run....
There are so many parallels to USAirways East and West and their arbitration. The lawyers are the same. The arguments are very similar. The confidence each side has in their team is the same. Airways East thought they'd hit a home run....
10-29-2008 | 05:35 PM
#32
Gets Weekends Off
Joined: Feb 2008
Posts: 397
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From: 7ERB, no M88, no 7ER, no A320, NEXT!
I understand that the DOJ gave approval but DOJ approval and date of corporate closure are 2 different things. Since DCC is what determines our equity, I am simply trying to find out if all that happened today was DOJ approval or if today was in fact DOJ approval AND date of corporate closure. What I really want to know is if we got locked in at todays stock price of 7.99 a share as far as the equity is concerned.
10-29-2008 | 05:58 PM
#33
Gets Weekends Off
Joined: Mar 2008
Posts: 1,166
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From: 737 Capt
I understand that the DOJ gave approval but DOJ approval and date of corporate closure are 2 different things. Since DCC is what determines our equity, I am simply trying to find out if all that happened today was DOJ approval or if today was in fact DOJ approval AND date of corporate closure. What I really want to know is if we got locked in at todays stock price of 7.99 a share as far as the equity is concerned.
10-29-2008 | 06:03 PM
#34
Works Every Weekend
Joined: Dec 2007
Posts: 3,506
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From: 737 ATL
I understand that the DOJ gave approval but DOJ approval and date of corporate closure are 2 different things. Since DCC is what determines our equity, I am simply trying to find out if all that happened today was DOJ approval or if today was in fact DOJ approval AND date of corporate closure. What I really want to know is if we got locked in at todays stock price of 7.99 a share as far as the equity is concerned.
I think you are confused about the equity. We are not "locked in" to today's price.
The company will issue pilot shares equal to 5.88% of the outstanding equity capitalization of the new corporation. (3.5% to pre-merger DAL pilots and 2.38% to pre-merger NWA pilots)
ALPA will take possession of those shares. They plan to have an investment banker sell the shares sometime in the near future and distribute the cash as "employer contributions" to our qualified DC retirement accounts.
The price we get will be whatever the market price is when the banker sells the shares. Hopefully it will go up over the next few days or weeks.
10-29-2008 | 06:13 PM
#36
Works Every Weekend
Joined: Dec 2007
Posts: 3,506
Likes: 0
From: 737 ATL
Yes.
Let's all hope ALPA's banker times the sale to maximize the value.
They did a great job with the bankruptcy equity. (with the help of USAir).
Maybe we need to convince USAir to try another hostile takeover.
At today's price, the average pilot will see around $32k.
Let's all hope ALPA's banker times the sale to maximize the value.
They did a great job with the bankruptcy equity. (with the help of USAir).
Maybe we need to convince USAir to try another hostile takeover.
At today's price, the average pilot will see around $32k.
Last edited by Check Essential; 10-29-2008 at 06:27 PM.
10-29-2008 | 06:29 PM
#37
Line Holder
Joined: Dec 2007
Posts: 518
Likes: 0
Yes.
Let's all hope ALPA's banker times the sale to maximize the value.
They did a great job with the bankruptcy equity. With the help of USAir.
Maybe we need to convince USAir to try another hostile takeover.
At today's price, the average pilot will see around $32k.
Let's all hope ALPA's banker times the sale to maximize the value.
They did a great job with the bankruptcy equity. With the help of USAir.
Maybe we need to convince USAir to try another hostile takeover.
At today's price, the average pilot will see around $32k.
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