Futile RAH/YX/F9 thread number.......7?
01-27-2010, 12:50 PM
#111
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Posts: 312
Originally Posted by likeitis
Without Yx or F9 you would have been regulated to flying 76 seats or less for the rest of your life. The ONLY reason you have a chance of flying anything bigger and being the lowest bidder contract company is the fact that F9 and YX employees spent the last 20+ years building a real airline you now have the ability to move up to without applying and interviewing. You chose to stay at a regional so thats your career expectation. YX and F9 pilots actually earned their positions further up the food chain. To blame pilots for the rise and fall of an airline is ignorant at best. We all know the pilots have very little or no affect on the success of an airline.
01-27-2010, 12:54 PM
#112
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Position: Boeing
Posts: 102
one of the stipulations states that the arbitrators ruling cannot cause "financial harm" in the form of training costs. If the arbitrator chooses to ignore that contractual language, so be it. However, profit has zero to do with this scenario...it is the other side of the balance sheet.
01-27-2010, 02:25 PM
#113
Che Guevara
Joined APC: Aug 2005
Posts: 6,408
Originally Posted by MD80
My point is, I think AirTran would buy Midwest for 50 million (1/8 of the original bid) without the TPG/Republic merger. TPG didn't even offer Midwest up for sale because they were already in merger talks with Republic.
Second, without Republic, SWA may have been the only exit financing for Frontier to come out of bankruptcy. Time could have been arranged to make a integration deal between Frontier and SWA.
Second, without Republic, SWA may have been the only exit financing for Frontier to come out of bankruptcy. Time could have been arranged to make a integration deal between Frontier and SWA.
01-27-2010, 02:36 PM
#114
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Posts: 239
Originally Posted by frankwasright
Oh,you're such a joker.Here's a little project for you:
Go back ten years and draw a timeline of CHQ and YX.Ten years ago,CHQ still had Saabs and J31's.then came 135/140/145's,then E170/175/190's,the turboprops disappeared,the seniority list multiplied by a factor of 5.YX,well...not so much.How much career expectation did you have at a shrinking airline ,hmmm ? See how those two arcs diverge ? Airtran wanted YX,just not bad enough.You make it sound like the F9 pilots' future at SWA was wrecked by RAH-maybe a SWA staple had something to do with it,ya think ?
Go back ten years and draw a timeline of CHQ and YX.Ten years ago,CHQ still had Saabs and J31's.then came 135/140/145's,then E170/175/190's,the turboprops disappeared,the seniority list multiplied by a factor of 5.YX,well...not so much.How much career expectation did you have at a shrinking airline ,hmmm ? See how those two arcs diverge ? Airtran wanted YX,just not bad enough.You make it sound like the F9 pilots' future at SWA was wrecked by RAH-maybe a SWA staple had something to do with it,ya think ?
Ten years ago I was hired into the DC-9 for a wage that was higher than the top FO wage at Republic. At one year I got a huge raise, but it was coincidentally even higher than the percentage, since I was holding a line. You can't talk about holding a line without discussing work rules, which inevitably bring life style. I had a couple of short 9/11 furloughs, and ended up on the 717. What a great machine. I would've flown it untill I retired.
So, I'm enjoying my life, making around six figures as an FO, when a bidding war begins for little Midwest Airlines. This delayed the anouncement for the MD-80 fleet replacement, which probably would've allowed me to upgrade, except that I didn't care. I already have jet PIC time. Everyone does. You can't get a career job without it right? And once you have a career job, upgrade seems trivial. Do I really want to go back to reserve, and didn't I already get hit by the alternative minimum tax last year anyway?
So this private equity firm beats out Air Tran by 25 cents per share, which ended up being $452,000,000.00. Don't know if we were profitable or not, the private equity firm refused to open the books. But they did decide to immediately begin dismantling Midwest for a second sale (or was there only transaction in this incestuous business?). Obviously since Republic was involved by this point, it's disengenuous to compare my situation right now, that is locked out, with someone of similar longevity from Republic. Had the initial bidding war never occurred (sorry, there was no evidence that Midwest was going out of business), or had Air Tran won, your comparison would've been foolish, but unfortunately, those are stories that won't be written.
01-27-2010, 04:18 PM
#115
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Joined APC: Aug 2005
Posts: 6,408
Originally Posted by 3XLoser
(sorry, there was no evidence that Midwest was going out of business), or had Air Tran won, your comparison would've been foolish, but unfortunately, those are stories that won't be written.
It's the only financial info I've ever seen. Sorry things have gone the way they have 3X. It does paint a picture of the cynical side of this industry. Not trying to start a street fight just if people want hard numbers to debate over there you go.
01-27-2010, 05:01 PM
#116
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Posts: 239
Originally Posted by ToiletDuck
http://ccbn.10kwizard.com/download.p...=1&cik=1159154
It's the only financial info I've ever seen. Sorry things have gone the way they have 3X. It does paint a picture of the cynical side of this industry. Not trying to start a street fight just if people want hard numbers to debate over there you go.
It's the only financial info I've ever seen. Sorry things have gone the way they have 3X. It does paint a picture of the cynical side of this industry. Not trying to start a street fight just if people want hard numbers to debate over there you go.
01-27-2010, 05:12 PM
#117
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Posts: 798
Originally Posted by ToiletDuck
http://ccbn.10kwizard.com/download.p...=1&cik=1159154
It's the only financial info I've ever seen. Sorry things have gone the way they have 3X. It does paint a picture of the cynical side of this industry. Not trying to start a street fight just if people want hard numbers to debate over there you go.
It's the only financial info I've ever seen. Sorry things have gone the way they have 3X. It does paint a picture of the cynical side of this industry. Not trying to start a street fight just if people want hard numbers to debate over there you go.
Do you think there is a chance TPG took a few million out of Midwest before the merger?
Why did BB say this...
The total costs to restructure and recapitalise Midwest are likely to reach $35 million. From an operating perspective Midwest is currently profitable, says Bedford. But Republic has advised the market that Midwest is likely to "go back into a loss-making situation for the fall and probably January and February, although we don't think it is significantly loss making". Once Midwest finalises its restructuring in early 2010 Bedford predicts: "We're going to be profitable, strongly profitable, in the second quarter of next year and we'll continue to be profitable thereafter."
01-27-2010, 05:59 PM
#118
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Posts: 737
Originally Posted by MD80
Do you think there is a chance TPG took a few million out of Midwest before the merger?
Why did BB say this...
The total costs to restructure and recapitalise Midwest are likely to reach $35 million. From an operating perspective Midwest is currently profitable, says Bedford. But Republic has advised the market that Midwest is likely to "go back into a loss-making situation for the fall and probably January and February, although we don't think it is significantly loss making". Once Midwest finalises its restructuring in early 2010 Bedford predicts: "We're going to be profitable, strongly profitable, in the second quarter of next year and we'll continue to be profitable thereafter."
Why did BB say this...
The total costs to restructure and recapitalise Midwest are likely to reach $35 million. From an operating perspective Midwest is currently profitable, says Bedford. But Republic has advised the market that Midwest is likely to "go back into a loss-making situation for the fall and probably January and February, although we don't think it is significantly loss making". Once Midwest finalises its restructuring in early 2010 Bedford predicts: "We're going to be profitable, strongly profitable, in the second quarter of next year and we'll continue to be profitable thereafter."
01-27-2010, 06:20 PM
#119
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Posts: 312
Originally Posted by 3XLoser
Thanks Toiletduck. There's some great stuff in there, including the fact that Republic paid a penalty to get out from under the 717s. If only we could've had that proof a couple of months sooner, we would've won our outsourcing grievance. Ouch. I think everyone knows that TPG overpaid for Midwest, but the CEO really needed to get his stock options above water. ...but Midwest wasn't doing bad before this, which by the way make good snapshots of our dismantling.
01-27-2010, 10:48 PM
#120
Che Guevara
Joined APC: Aug 2005
Posts: 6,408
Originally Posted by MD80
Do you think there is a chance TPG took a few million out of Midwest before the merger?
3X that information has been public for a pretty good while. I posted it once 5 months ago. I have no idea how long it was available before then.
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