higney85

Anybody got the number to that truck driving school?



The sky is falling! Watch out below. Just like most actions at Pinnacle these are knee-jerk and not thought through. It's unfortunate that everyone must take care of things to fix the problems instigated by folks who don't have a clue of the day to day ops that pays them.

Jetrecruiter

Okay Higney relax we all knew that the wheels of this PNCL wagon were about to fall off.

Now what on earth has happen dude.!!! Higney you are a good source my brother, for you to be this ticked off to want to drive a truck, Clive must have made you mad. This time all 9E pilots need to send a strong message to management if these talks do not bare fruit..... my pen, their AML........ something just aint flyin period

B00sted

I'm getting fed up with all this. Everyone needs to slow down and make sure they're flying safe. Do everything by the book. Push crew headset broken, no push - block back in, send delay report...

Avroman

Which is one reason why this country is past due for a revolution. Even Thomas Jefferson said this country would need a revolution about every 200 years... we're over 30 years past due...

BeenThere

Not an employee so I'm free to ask: Is that scumbag Lorenzo disciple Don Breeding still there?

Airsupport

name doesn't ring a bell.

higney85

Joe- all that is being said is safety first, fly the profiles, and don't bend over backwards to take care of the jobs mgmt has extinguished without thinking of reprocussions. No threats, no call to action, just forethought on the cluster that is yet to come due to mgmt's irrational moves. I happen to be in a very foul mood right now- not because of "doom and gloom" but because our mgmt team is cutting off their most valuable resource- the employees that earn them their bonus. Simply the best.

mooney

No but Buddy Casey is..is that close enough?

CanyonBlue

When are the Auction Rate Securities due?

Ftrooppilot

FROM: Pinnacle Airlines Corp. Q3 2008 Earnings Call Transcript -- Seeking Alpha

" . . . we do have $121 million par value of 3.25% convertible notes. Those notes have a put option in February 2010 . . . .

. . . is a new accounting pronouncement that will affect Pinnacle in 2009. . . . This new FASB Staff Position requires us to separate the option value equity component of our notes from the debt component and to reflect the implicit unsecured borrowing rate that goes with that debt component in our interest expense.

The net effect of this new pronouncement will be that we would have shown a lower obligation on our balance sheet at the time of issuance of our convertible notes and then we would have accreted interest up to the par value of $121 million through the put date of 2010. While we’re still evaluating the assumptions that go in to this calculation, we think the impact of this could mean a significant increase in our interest expense next year by as much as $14 million.

Now, I want to reiterate this has absolutely no impact on our cash flow in 2009. This is simply a balance sheet adjustment related to this convertible accounting. Also, this pronouncement is retrospective so when we adopt this in 2009 we will restate prior years including 2008 to reflect this additional interest expense as well."

It sound like a company that states it has no cash flow problems is doing creative accounting and cutting costs everywhere to save cash for February 2010 obligations. In todays economy it could be hard to do.