There may be some truths here, but they may be a bit skewed.
XOJet didn't buy TMC. TMC was bought by TPG who happens to own a controlling share in XOJet. For the inquisitive, you might take a look at who owns the rest of XOJet. Not that it matters, but investors might be more inclined to invest in a company they wholly own instead of one they don't.
I believe the numbers are correct for the Beech Jet type rating. A 1 year contract and $19,500. I think the Hawker had the same commitment and a $21,500 agreement. You're correct that it's NOT a Gulfstream type rating. If you go buy one, they start around $50,000. I've heard recently a -550 or -650 Gulfstream type runs north of $75,000.
TMC risks losing Wyvern Wingman and ARGUS status if they can't attract and/or keep qualified crew members. Without that status, brokers and clients tend to look at charter companies with those qualifications. Though the 'CEO' may have exclaimed TMC is an 'academy' company, during negotiations people will exclaim anything to meet their negotiation strategy. i.e. - we don't need to pay you more because we expect to only keep our new hires for a year.
Every State has a Department of Labor. If your check was computed incorrectly, the labor department in your state can remedy the problem quickly. TMC provides crews with a break-down of pay. Days worked is easily determined with the 'Trip Expense' sheet submitted for each flight segment. Both crew member's ID are listed so an audit is easy and quick. If TMC won't correct it, the State will. I am familiar with a major airline having a domicile shut down (doors chained and locked) and a lien put on a jet until a pay issue was resolved. I think it took 2 phone calls, and the chains were removed when the pay solution (direct immediate deposit, next pay check, or a check sent over night) was determined.
I have to agree with the leadership expertise in EKM. TMC grew from a small 2 or 3 jet operation to 70 jets and nearly 200 pilots in just a few years. I don't think any of the EKM leaders have the skills or education required to make the Company grow at this point. I actually expected one of the 'S's to be gone before now - if not both of them. MBA anyone?
I believe the new TMC guy is acutely aware of the problems. I think he knows that during the last job fair, TMC attracted only 2 resumes. I believe XOJet was in the 40s range. There are better flying opportunities, but there are also worse.
TMC offers a 15/13 and an 8/6 schedule. TMC buys your ticket to work and home. Nobody is begging for a jumpseat, and the 1st and last day of your rotation is a commute day. So, it's not 15 days plus 2 days for the commute. It's just 15 days (or 8). Most majors require you to be in position and crew rested prior to your first operational flight, which means commuting on your day off unless you live in domicile. Are you ready to relocate your family to OAK, SEA, ANC, MEM, DTW, IAD, EWR .... to save two days a month? Or, are you going to try and jumpseat and risk your new job because of a no-show while you're on probation? TMC is paying for KCM. If you don't want it, don't do it. If you have a sketchy background, you might want to avoid another national agency check. If that's the case though, the likelihood of being hired by a major/legacy, UPS, FedEx, SWA .... is significantly minimized. They'll do the same check as part of their hiring procedure.
NOW - the biggest problem - PAY. If you're trying to raise a family, buy a house, a new car, pay off a student loan debt, TMC probably won't work. I doubt a regional would work either. If you're worried about enough days off to do anything (no vacation), 13 days of uninterrupted time off is pretty nice. TMC does still needs a vacation system. There is no sick leave at TMC. If you call in sick, you don't get paid. I am intimately familiar with sick policies at other airlines, and there are solutions. Until TMC implements a sick leave benefit however, crews WILL show up and fly sick. They can't afford not to.
Sorry for the long dissertation. TMC will be what you make of it. If you opt to work at TMC, bring along a stack of resumes. You never know when that G-650 owner will offer you that dream job to live Hebronville, TX - yeh - you gotta move.