Yeah... Not sure. JCBA Section 1 is pretty wordy.

truer words have never been spoken

From the Pinnacle Corp JCBA:

Partial Asset Transfer
If the Company or any Airline transfers, by sale, lease or other
transaction, four percent (4%) of the aircraft in an Airline’s fleet
in any twelve (12) consecutive month period to any other air
carrier (excluding another Airline) or entity that controls another
air carrier, then, once the Company or applicable Airline and the
other air carrier reach agreement for transfer of the aircraft that
constitutes the 4% threshold, the Company or applicable Airline
will endeavor to secure the agreement of the transferee(s) to offer
pilot employment to a number of Pilots on the Pilots’ System Seniority
List based upon the total number of aircraft transferred or
to be transferred, provided the transfer of aircraft did or will result
in a reduction in force. If an agreement is secured, the Company
will consult with the Association concerning the terms upon
which such employment is offered (e.g., Pilots’ qualifications, seniority
and other relevant factors). In any case, no Pilot shall be
required to transfer with the aircraft. Section 24 will apply to any
position changes that occur as a consequence of the partial asset
transfer.

Qs are 11% of the present fleet....

So from what I understand here, and correct me if I am wrong, if more than 4% of the aircraft leave the company Skywest would come up with an offer for any pilots thinking of tranfsferring based upon qualifications, seniority, etc and we, the affected pilots, could agree to transfer or opt to stay here at Pinnacle Holdings based upon the offer from Skywest. Did I get even close?

You guys know if they do actually buy us, we will be merged with asa and express jet while Skywest will take what they want from it but none of their pilots will be affected.

Pinnacle's market Cap is 23.5 million and Skywest has 646 million in the bank, so they could buy us and have plenty left over. The question is whether United/Delta wants Skywest to get bigger and control more lift, and if Skywest wants to take on another challenging merger when they still haven't finished the ASA/Expressjet consolidation yet. On the Pinnacle side, my guess is the investors and executives at Pinnacle would jump at this if the price was right, particularly if we end up in bankruptcy.

That would be my guess is since all the pilots are represented by ALPA we would be folded in with the ALPA operation on the Expressjet certificate.

Still not sure if I buying this, however.

They'll "consult" with you and "endeavor" to give you guys year one pay at skywest lol. I love all of these meaningless words in a contract.

Exactly.

endeavour US, endeavor [ɪnˈdɛvə]vb to try (to do something)


Writing in the contract that Pinnacle will "try" to do something. Ha!! What a worthless piece of garbage. Not even worth the paper its printed on. This clause is only going to be beneficial to you guys if its beneficial for the company. And even then, they'll screw you.

So whens this report coming out? Ive read some were saying delayed till the 6th, its past now what? Can they keep delaying it?

Still cooking the books

got a friend up in MSP for training and the union rep is basically saying all indications point to bankruptcy.

First time Ive heard this :rolleyes:

It has been their plan the whole time. Why they didn't do it months ago and save all the training costs from 11-09 I have no idea. They have a big picture view, it probably was never about the training costs, there is some kind of back room dealing going on that we will never know. The government will protect everyone at the top all the way to the bank while the employees get the shaft, once again.

'

of course it has been in their plan. it was Delta's plan as well.

Expedite the CBA negotiations so we can combine the companies. File for bankruptcy to get it all back, then begin parking 50 seaters.

In the big picture i'm sure this saves Delta a lot of money

Not sure what this means, but it's been mentioned once or twice before in the news. Anyone able to make sense of it?

UPDATE: Pinnacle Air Board Urged To Accept Shareholder Proposal - WSJ.com

DOW JONES NEWSWIRES
Pinnacle Airlines Corp.'s (PNCL) board was again urged to accept a shareholder group's bid for seats on the board and said it is prepared to petition a Delaware court to order an annual meeting if a date isn't set within 13 months from last May's session.
Private investor Wayne King and Ryan Morris, of Meson Capital Partners LLC, which together have a 6.18% stake in the carrier, in a letter to shareholders said they met last month with Chairman Donald Breeding, and Susan Coughlin, director and head of the nominating and corporate governance committee, urging them to avoid a proxy contest in which the group now plans to nominate a slate of three candidates.
However, the regional carrier's board responded by indefinitely delaying the annual meeting, initially set for May, according to the letter. "We could not disagree more with the board's stated reason for rejecting our proposal on the basis of bad 'timing.'"
The company in a statement on Wednesday said that it continues to evaluate the proposal and that at this time, Pinnacle isn't prepared to change the complement of the board of directors.
The shareholders group reiterated its support for Pinnacle President and Chief Executive Sean Menke, and said by not supporting its proposal "the board is dangerously undermining Mr. Menke's efforts to transform Pinnacle into a sustainable enterprise."
Among other criticisms, the shareholders group cited 1.09% share ownership by the company's eight nonemployee directors.
Pinnacle has been trying to turn itself around and recently announced it is looking for a new chief financial officer. Edward "Ted" Christie, who has been in the post less than a year, plans to leave at the end of the month to become Spirit Airlines Inc.'s (SAVE) chief financial officer.
Pinnacle in December said it initiated a program to reduce short- and long-term costs and enhance liquidity, in part by looking to renegotiate its agreements with most of its business partners and employees.
Shares were up 1.7%, or 2 cents, at $1.18 in recent trading. The stock remains down nearly 80% in the past 12 months, despite climbing 44% since the start of 2012.

This is the large share holders trying to get a seat on the board of directors. They believe the current board is not making the best decisions from a shareholders point of view.(wonder why they would think that) So they want more say it what happens to keep the company stock price higher. I imagine if the share holders had more say they would not be allowing Sean to publicly say how bad things are other then what was required to be said because that is not good for share prices. Look at most companies, they usually are BK before the CEO mentions bankruptcy.