PinnaColaba Bankruptcy soon
12-10-2011, 04:54 PM
#181
Gets Weekends Off
Joined APC: May 2011
Position: 737 CA
Posts: 961
Oh Timmy. Just awesome.
Fortunately they blocked him from upgrading for six more months. That's one captain we definitely do not need on the line.
Supposedly a vote in CLE today over whether he should be allowed into ALPA.
Fortunately they blocked him from upgrading for six more months. That's one captain we definitely do not need on the line.
Supposedly a vote in CLE today over whether he should be allowed into ALPA.
12-10-2011, 05:59 PM
#183
Gets Weekends Off
Joined APC: Nov 2008
Position: Airbus 320 Right Seat
Posts: 1,442
What is going on here is Menke needs to get rid of the infrastructure of three companies and create one coherent operation out of this mess. He hired the consultants to get the required changes he needs to get this done.
These consultants will go to our "partners" to get contracts that will allow us to operate all of our aircraft one one certificate. They will come to the pilots to get a slowdown in the 11-09 award until he can get all the aircraft on a single certificate. If he can't do this, look for concessions that will limit the ability to transfer between certificates.
These consultants will also use the threat of bankruptcy to get major concessions from the lessors at One Commerce Square as well. 1CS is costing the company 3x what they projected just so Uncle Phil could have a nice office with a 14th floor view.
Anbody who can read a balance sheet can see this company is nowhere near bankruptcy yet. It is a real possiblity later next year if the company doesn't make some changes and fast. Anybody who has been listening to Menke since he walked in the door can't be surprised by any of this.
I'll make these predictions for a year from now:
1. We will either be on one certificate or well on our way to one certificate.
2. There will be massive layoffs at One Commerce Square and on the support side. I'd say one third to one half of the employees at 1CS will be on the street by this time next year.
3. All that will be left at 1CS will be the Executive Offices, if that.
4. Shy Fly Guy will still be crying that the sky is falling.
There will be no bankruptcy as long as Menke gets the concessions he needs to stay out of BK. If he doesn't get them, then he will take the company into bankruptcy to get them late next year.
These consultants will go to our "partners" to get contracts that will allow us to operate all of our aircraft one one certificate. They will come to the pilots to get a slowdown in the 11-09 award until he can get all the aircraft on a single certificate. If he can't do this, look for concessions that will limit the ability to transfer between certificates.
These consultants will also use the threat of bankruptcy to get major concessions from the lessors at One Commerce Square as well. 1CS is costing the company 3x what they projected just so Uncle Phil could have a nice office with a 14th floor view.
Anbody who can read a balance sheet can see this company is nowhere near bankruptcy yet. It is a real possiblity later next year if the company doesn't make some changes and fast. Anybody who has been listening to Menke since he walked in the door can't be surprised by any of this.
I'll make these predictions for a year from now:
1. We will either be on one certificate or well on our way to one certificate.
2. There will be massive layoffs at One Commerce Square and on the support side. I'd say one third to one half of the employees at 1CS will be on the street by this time next year.
3. All that will be left at 1CS will be the Executive Offices, if that.
4. Shy Fly Guy will still be crying that the sky is falling.
There will be no bankruptcy as long as Menke gets the concessions he needs to stay out of BK. If he doesn't get them, then he will take the company into bankruptcy to get them late next year.
If it is all done I fully believe the company can avoid BK. But some heads will need to roll....
Good luck to all of us !
12-10-2011, 08:00 PM
#186
Gets Weekends Off
Joined APC: Nov 2009
Position: AN124 FE
Posts: 1,226
You mean after 11-09 is complete?
What is going on here is Menke needs to get rid of the infrastructure of three companies and create one coherent operation out of this mess. He hired the consultants to get the required changes he needs to get this done.
These consultants will go to our "partners" to get contracts that will allow us to operate all of our aircraft one one certificate. They will come to the pilots to get a slowdown in the 11-09 award until he can get all the aircraft on a single certificate. If he can't do this, look for concessions that will limit the ability to transfer between certificates.
These consultants will also use the threat of bankruptcy to get major concessions from the lessors at One Commerce Square as well. 1CS is costing the company 3x what they projected just so Uncle Phil could have a nice office with a 14th floor view.
Anbody who can read a balance sheet can see this company is nowhere near bankruptcy yet. It is a real possiblity later next year if the company doesn't make some changes and fast. Anybody who has been listening to Menke since he walked in the door can't be surprised by any of this.
I'll make these predictions for a year from now:
1. We will either be on one certificate or well on our way to one certificate.
2. There will be massive layoffs at One Commerce Square and on the support side. I'd say one third to one half of the employees at 1CS will be on the street by this time next year.
3. All that will be left at 1CS will be the Executive Offices, if that.
4. Shy Fly Guy will still be crying that the sky is falling.
There will be no bankruptcy as long as Menke gets the concessions he needs to stay out of BK. If he doesn't get them, then he will take the company into bankruptcy to get them late next year.
These consultants will go to our "partners" to get contracts that will allow us to operate all of our aircraft one one certificate. They will come to the pilots to get a slowdown in the 11-09 award until he can get all the aircraft on a single certificate. If he can't do this, look for concessions that will limit the ability to transfer between certificates.
These consultants will also use the threat of bankruptcy to get major concessions from the lessors at One Commerce Square as well. 1CS is costing the company 3x what they projected just so Uncle Phil could have a nice office with a 14th floor view.
Anbody who can read a balance sheet can see this company is nowhere near bankruptcy yet. It is a real possiblity later next year if the company doesn't make some changes and fast. Anybody who has been listening to Menke since he walked in the door can't be surprised by any of this.
I'll make these predictions for a year from now:
1. We will either be on one certificate or well on our way to one certificate.
2. There will be massive layoffs at One Commerce Square and on the support side. I'd say one third to one half of the employees at 1CS will be on the street by this time next year.
3. All that will be left at 1CS will be the Executive Offices, if that.
4. Shy Fly Guy will still be crying that the sky is falling.
There will be no bankruptcy as long as Menke gets the concessions he needs to stay out of BK. If he doesn't get them, then he will take the company into bankruptcy to get them late next year.
12-10-2011, 08:10 PM
#187
Da Hudge
Joined APC: Oct 2006
Position: Poodle Whisperer
Posts: 17,473
The thing that gets me as they did these realignment bids trying to save so much money, but seemingly without any thought as to the training requirements.
You now have a 3000 pilot airline with over 1000 looming training events created by a single bid. That has got to be the worst run crew planning ever, and now it's contributing to bankrupting what is supposedly a very cheap carrier.
Besides, the carrier should be single certificate. Keeping the second certificate is going to do nothing but create continued excessive training costs in the future.
Oh, and I caught Phildo on camera earlier:
You now have a 3000 pilot airline with over 1000 looming training events created by a single bid. That has got to be the worst run crew planning ever, and now it's contributing to bankrupting what is supposedly a very cheap carrier.
Besides, the carrier should be single certificate. Keeping the second certificate is going to do nothing but create continued excessive training costs in the future.
Oh, and I caught Phildo on camera earlier:
12-10-2011, 08:33 PM
#188
Gets Weekends Off
Joined APC: Feb 2007
Position: BassTracker
Posts: 665
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