Rip Yx
10-17-2009, 01:20 PM
#21
Gets Weekends Off
Joined APC: Feb 2009
Posts: 798
Originally Posted by RAHPilot5
Since you and dirty rat frequent this webiste often, can you tell me if what 1 of your YX captains and FA told me at the Crowne in LGA is true?
I asked them why didnt they take the AirTran deal when it was offered twice?
The captain's response was so that the current CEO would get his 25 years with the company and get some sort of special pension package. FA looked at me and nodded.
Is this true?
I asked them why didnt they take the AirTran deal when it was offered twice?
The captain's response was so that the current CEO would get his 25 years with the company and get some sort of special pension package. FA looked at me and nodded.
Is this true?
I believe it to be true. Greed and the desire to see Midwest live on.
10-17-2009, 01:26 PM
#22
Banned
Joined APC: Jun 2008
Posts: 8,350
...........and so it continues.
Pilot group vs. Pilot group and Pilot vs. Pilot.
Airline managers across the country are smiling stronger every day, Herndon fatcats continue with big pay and Joe the line pilot still has no say.
This is the future and will always be that way, I'm sorry to say.
Pilot group vs. Pilot group and Pilot vs. Pilot.
Airline managers across the country are smiling stronger every day, Herndon fatcats continue with big pay and Joe the line pilot still has no say.
This is the future and will always be that way, I'm sorry to say.
10-17-2009, 02:43 PM
#24
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Joined APC: Apr 2009
Position: awkward
Posts: 239
Originally Posted by 3XLoser
There wouldn't have been a 25th anniversary party for Hoeksema if he sold to Air Tran, but also his stock options would've all been under water with Air Tran's offers. Hmmm... Air Tran was also probably going to end those greasy little cookies, which are baked by the CEO's wife's company.
10-17-2009, 04:24 PM
#25
Gets Weekends Off
Joined APC: Apr 2007
Posts: 867
Originally Posted by YXnot
If by"they"you mean TH and the BOD(Mostly TH), then you would be correct. The employee's had no say in what transpired.
Its all about the money and NWA/TPG protecting the heartland from a LCC. TH received approx.10 mil.
Its all about the money and NWA/TPG protecting the heartland from a LCC. TH received approx.10 mil.
Confirmed. Air Tran was stock and cash, NWA/TPG was cash. TH is an idiot with OPM and playing CEO, but I guess not with his own $$.
Originally Posted by 3XLoser
There wouldn't have been a 25th anniversary party for Hoeksema if he sold to Air Tran, but also his stock options would've all been under water with Air Tran's offers. Hmmm... Air Tran was also probably going to end those greasy little cookies, which are baked by the CEO's wife's company.
The AirTran offers were shot down by a media blitz of "Save the Cookie" and playing up the Milwaukee hometown airline. The stockholders sued because they wanted it, and TH played this obscure WI law that the BOD could ignore a stockholder vote if it was in the best interest of "the company." In reality, it was bad for TH, but would have been better for the company. When TH begged NWA/TPG to buy, it was worse-off for the airline, but better for him. It was a $450+M cash for stock deal, but TPG's track record painted YX's true future.
TH should have stuck with toilet paper. That stuff is suppose to go down the drain.
10-18-2009, 08:32 AM
#26
Gets Weekends Off
Joined APC: Apr 2006
Posts: 361
Originally Posted by deadstick35
Confirmed. Air Tran was stock and cash, NWA/TPG was cash. TH is an idiot with OPM and playing CEO, but I guess not with his own $$.
10-18-2009, 08:48 AM
#27
Gets Weekends Off
Joined APC: Apr 2007
Posts: 867
Originally Posted by 320ToBearz
TH is a certifiable idiot, but he got his shareholder their best deal from TPG and not Air Tran. Even the three hand picked Air Tran board members chose TPG's offer over Air Tran.
10-18-2009, 08:57 PM
#29
Gets Weekends Off
Joined APC: Jul 2009
Posts: 624
Originally Posted by 3XLoser
For those that don't know, this was the turning point for Midwest. The airline had been doing just fine until then. After the sale they began dismantling for the next sale, which probably happened in June 2008, not July 2009. The reverend announced the downpayment on September 3, 2008, the day they dropped the bomb on us. There were a lot of people who believed the propaganda from that day, that the generous reverend was giving millions to compassionately save a dying airline. The previous owners, TPG, still have their hands in it, and the SEC filings indicate that it was a merger, not an aquisition.
Additionally, TPG has ZERO stake in MAG as it exists today. Republic acquired 100% of the equity of the company from TPG, and they accomplished the acquisition for one dollar.
10-18-2009, 10:42 PM
#30
Gets Weekends Off
Joined APC: Jul 2009
Posts: 233
Originally Posted by FlyJSH
A sixtyish Midwest CA jumpseats on my flights regularly. Been with the company 20+ years. I don't think he needs anything to make him stronger. But he has taken your advice and moved on. After all, he has no desire to earn $37 an hour as a 20 year FO.
If taking it on the chin makes one stronger, then maybe you should have stayed in flying: just think how strong you would be now.
If taking it on the chin makes one stronger, then maybe you should have stayed in flying: just think how strong you would be now.
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