Someone else can post it. I'm not sure what this new management would consider sensitive company information. I came from a company that would lurk on these forums looking for slander (or just general bad mouthing by the pilot group) then go after the pilot and the forum for it. So forgive me if I'm a little hesitant. Suffice it to say we are getting paid friday according to HR.

They said payroll was getting processed Friday. Does that mean the money will be in our accounts Friday morning, or are they wiring the money on Friday and we should expect it to hit our banks on Monday after the holiday weekend?

Your guess is as good as mine. I hope it's the former, but probably not.

Pace needs to have a descent credit rating too.

Supposedly that's what they're working on right now.

Is there any new financial backing (hedge fund, private equity, etc) along with the change in leadership? That might enable access to more capital.

No. I'm told by one of his friends that he has brought in enough money on his own to operate the airline and open lines of credit through his connections. The guy I talked to said he had worked on wall street for a major trying to find credit through the hedge funds and such, and he was glad he didn't have to do that any more. The new owner said he has no intentions of ever going public.

Point of Order
 

Actually, it seems from industry sources, that Pace employees actually do work for free. Employees have told me that management has been late on at least three straight hourly employee pay periods(mechanics and office staff) and that salaried employees have been late getting their pay two straight pay periods. Doesn't speak well for a new "well financed" management team.

In DOT filings, the company name was changed to Allstar as it seems (company employees opinion) the "Pace" name had a lot of derogatory implications. To this outsider, it doesn't sound like Allstar is off to a very good start if they can't meet payroll.

Hmmmmm:rolleyes:

G'Luck Allstar employees:)

Negative? How so? How bad could being the same name as a great Picante Sauce be?

Just kidding...Allstar sounds good if they're going after sports charters.

He could change it to "Burning Hole in the Ground Airways" for all I care, as long as I get a paycheck