PinnaColaba Bankruptcy soon
12-16-2011, 06:40 AM
#232
Gets Weekends Off
Joined APC: Jun 2007
Position: Captain Jack
Posts: 1,003
Originally Posted by jayray2
I've wondered also if Delta is behind this mess, but Pinnacle is their own entity with their own stock holders. If Pinnacles starts to lose 200s this place is over, it will sink as the pilot cost rise above those of Comair. Bigger is better and more profitable in this market, Pinnacle is not going to shrink to profitability. I just don't see how Delta can be pulling the strings on this, as much as they would like to get rid of the 200s they still need them for the time being. Even if they could get rid of all of them tomorrow they couldn't physically do it, all their international customers need a way to get to their hubs.
Pinnacle to be dropped as a carrier for Delta due to performance......then it doesn't happen....a short while later they buy an airline from Delta for a song and a dance. An airline that has many planes and a flow Delta didn't want. Then pinnacle gives in rather quickon a pilot contract, in comparison to their history of pilot contracts, only to file bk a few months later. I don't know, sounds legit to me.
12-16-2011, 03:40 PM
#233
Gets Weekends Off
Joined APC: Dec 2010
Posts: 977
One thing I don't think anyone has mentioned yet--I wonder how much insurance coverage is available for Continental, Pinnacle Corp, and Colgan for damages from 3407?
There are still many, many pending legal actions percolating through the court system almost three years after that accident, according to a quick PACER search (US public court records search system). I'm just wondering if out-of-court settlements might be one of those potential "events" in 2012 that Menke mentioned.
Other interesting facts I learned reading some of those court dockets:
Pinnacle Corp is a Delaware Corporation, based in Tennessee
Pinnacle Inc is a Georgia Corporation, based in Tennessee
Colgan is a Virginia Corporation, based in Tennessee
I wonder what America's founding fathers would think about the widespread existence of corporations which have more rights than living and breathing citizens, that exist in perpetuity, and that utilize state and offshore jurisdictions to minimize legal liabilities and tax payments.
It's just too bad our labor and employment laws have been so enervated by the court system and co-ordinated corporate lobbying efforts over the last 40 years--watching the actions of Phil and gang reminds me of the robber barons in the olden days, before we had any labor protections...it seems we're slowly heading back to feudalism/Industrial Revoultion times in the USA.
There are still many, many pending legal actions percolating through the court system almost three years after that accident, according to a quick PACER search (US public court records search system). I'm just wondering if out-of-court settlements might be one of those potential "events" in 2012 that Menke mentioned.
Other interesting facts I learned reading some of those court dockets:
Pinnacle Corp is a Delaware Corporation, based in Tennessee
Pinnacle Inc is a Georgia Corporation, based in Tennessee
Colgan is a Virginia Corporation, based in Tennessee
I wonder what America's founding fathers would think about the widespread existence of corporations which have more rights than living and breathing citizens, that exist in perpetuity, and that utilize state and offshore jurisdictions to minimize legal liabilities and tax payments.
It's just too bad our labor and employment laws have been so enervated by the court system and co-ordinated corporate lobbying efforts over the last 40 years--watching the actions of Phil and gang reminds me of the robber barons in the olden days, before we had any labor protections...it seems we're slowly heading back to feudalism/Industrial Revoultion times in the USA.
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