PinnaColaba Bankruptcy soon
#211
Bracing for Fallacies
Joined APC: Jul 2007
Position: In favor of good things, not in favor of bad things
Posts: 3,543
I can not imagine pay cuts ever being approved by our pilot group and I could never see myself voting for a pay cut at a regional airline. For me, it comes to a point where "enough is enough" and I would rather this play out in BK court rather than give a portion of, my already meager pay, to the company.
Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.
Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.
Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.
Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.
#212
Line Holder
Joined APC: Nov 2008
Position: Furloughed -8
Posts: 71
Mesa Management is currently negotiating a 5% pay cut for its pilots. I think I would rather see an airline close its doors before pay and QOL gets any worse; at least at the regional level.
#213
Gets Weekends Off
Joined APC: Dec 2007
Posts: 691
I can not imagine pay cuts ever being approved by our pilot group and I could never see myself voting for a pay cut at a regional airline. For me, it comes to a point where "enough is enough" and I would rather this play out in BK court rather than give a portion of, my already meager pay, to the company.
Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.
Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.
Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.
Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.
#214
I can not imagine pay cuts ever being approved by our pilot group and I could never see myself voting for a pay cut at a regional airline. For me, it comes to a point where "enough is enough" and I would rather this play out in BK court rather than give a portion of, my already meager pay, to the company.
Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.
Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.
Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.
Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.
spot on ! i agree 100%
#215
Gets Weekends Off
Joined APC: May 2010
Posts: 298
Just say no. Does anyone at Mesa really think a 5% pay cut will save te company?
#216
This whole situation just seems fake to me. I've been following the stock, reading the business related articles, and reading this thread for quite some time now.
For an airline the size of Pinnacle to loose a few million dollars during a transition period is more or less a "Break-Even." When FedEx bought Kinko's, which costs millions and millions of dollars, that transition period showed FedEx to have a loss. Nobody panicked as it was clearly explained by Fred Smith. Excluding the one time fees of this transaction, FedEx was profitable. No big deal.
Same with Pinnacle, excluding the one time fees of streamling 3 airlines into one, and a move to downtown Memphis...the airline isn't in financial trouble. When it's all said and done, Pinnacle will be back to normal, and with greater synergies than before.
What is troubling to me, is the CEO is literally scaring the $hit out of everyone. What CEO does this? One that purposely wants to send the stock price in the toilet? (He did a good job with that!) One that wants to deliberately send the business in bankruptcy perhaps? Hmmmm.
For the past few years we've seen high oil price bring up the CASM exponentially for the 50 seat market. Some routes are profitable, while the majority are not. It's no secret at all that the Legacy carriers as a whole, want to shrink down the utilization of their 50 seat jets.
If I was a pilot at Pinnacle right now, I would be holding the CEO accountable for why on earth he hasn't exercised the option, yet, to have the pilot cost income from Delta be set to the actual cost (as clearly outlined in the ASA). If this option isn't exercised, then of course the airline will be less profitable, or in this case, a loss.
Sean Menke knows deep down inside that the pilot group will NOT take a paycut, not 1 red penny.....especially after negotiating for 5 loooong years. If the flight attendants give up 10 %, what is that? A buck and a half per hour? The rest of the employees dont' make up any cost savings as most are barely above minimum wage. The leadership restructing leaves the airline with paying out massive golden parachute packages in the millions.
This whole thing is a fraud, I smell a rat. There's more to this story, my guess is Delta is directing this to save face, by creatively, yet legally, shrink down the utilization of the 50 seaters, simply because they aren't profitable.
Meanwhile........Phil Trenary and Doug Shockey are living it up at a 5 star resort in the tropics, blowing their millions........
For an airline the size of Pinnacle to loose a few million dollars during a transition period is more or less a "Break-Even." When FedEx bought Kinko's, which costs millions and millions of dollars, that transition period showed FedEx to have a loss. Nobody panicked as it was clearly explained by Fred Smith. Excluding the one time fees of this transaction, FedEx was profitable. No big deal.
Same with Pinnacle, excluding the one time fees of streamling 3 airlines into one, and a move to downtown Memphis...the airline isn't in financial trouble. When it's all said and done, Pinnacle will be back to normal, and with greater synergies than before.
What is troubling to me, is the CEO is literally scaring the $hit out of everyone. What CEO does this? One that purposely wants to send the stock price in the toilet? (He did a good job with that!) One that wants to deliberately send the business in bankruptcy perhaps? Hmmmm.
For the past few years we've seen high oil price bring up the CASM exponentially for the 50 seat market. Some routes are profitable, while the majority are not. It's no secret at all that the Legacy carriers as a whole, want to shrink down the utilization of their 50 seat jets.
If I was a pilot at Pinnacle right now, I would be holding the CEO accountable for why on earth he hasn't exercised the option, yet, to have the pilot cost income from Delta be set to the actual cost (as clearly outlined in the ASA). If this option isn't exercised, then of course the airline will be less profitable, or in this case, a loss.
Sean Menke knows deep down inside that the pilot group will NOT take a paycut, not 1 red penny.....especially after negotiating for 5 loooong years. If the flight attendants give up 10 %, what is that? A buck and a half per hour? The rest of the employees dont' make up any cost savings as most are barely above minimum wage. The leadership restructing leaves the airline with paying out massive golden parachute packages in the millions.
This whole thing is a fraud, I smell a rat. There's more to this story, my guess is Delta is directing this to save face, by creatively, yet legally, shrink down the utilization of the 50 seaters, simply because they aren't profitable.
Meanwhile........Phil Trenary and Doug Shockey are living it up at a 5 star resort in the tropics, blowing their millions........
#217
Yup...10-Qs show they were operationally profitable each of the last three quarters; operating expenses (which include employee wages) were lower than operating revenues. However, non-operational interest expense threw them to a loss each quarter.
I think this has much less to do with employees than it does vendors, lenders and lease holders...float a non-too-subtle threat of bankruptcy as leverage to renegotiate more favorable terms.
I think this has much less to do with employees than it does vendors, lenders and lease holders...float a non-too-subtle threat of bankruptcy as leverage to renegotiate more favorable terms.
#219
The entire pilot group needs to read your first post. Most importantly I hope the MEC sees the same thing you do. The only reason I can think of pushing us into bankruptcy is the fact that Delta wants to be rid of 50 seaters. If Pinnacle delcares than its an open avenue for parking more 50's. I really wouldn't put it passed Delta to have a larger hand in this whole deal. Companies never make money in a transition.
The more and more I think about the packages those SVP's are getting when they get the boot makes me sick to my stomach, but then again its the world we've always lived in. We pilots are on the wrong side of the house.
#220
Gets Weekends Off
Joined APC: Dec 2007
Posts: 691
The entire pilot group needs to read your first post. Most importantly I hope the MEC sees the same thing you do. The only reason I can think of pushing us into bankruptcy is the fact that Delta wants to be rid of 50 seaters. If Pinnacle delcares than its an open avenue for parking more 50's. I really wouldn't put it passed Delta to have a larger hand in this whole deal. Companies never make money in a transition.
The more and more I think about the packages those SVP's are getting when they get the boot makes me sick to my stomach, but then again its the world we've always lived in. We pilots are on the wrong side of the house.
The more and more I think about the packages those SVP's are getting when they get the boot makes me sick to my stomach, but then again its the world we've always lived in. We pilots are on the wrong side of the house.
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