Quote:
Originally Posted by Pellegrino
Only if it was a fair and equitable (DOH) integration. SKW could buy us with CBA intact, which states we will be integrated with their list by mutual agreement. Say their idea is to staple us to the bottom of their list. We say no way, and there is no mutual agreement. If the list merger agreement is not reached, it goes to arbitration, and SKW says to the arbitrator XJT would have been bankrupt anyway, they should all go to the bottom. Then it's in the arbitrator's hands to decide if we would have gone bankrupt or not. It's a replay of AA-TWA. That went well.
|
This is exactly what may happen. Guys, just because THEY ink a deal (IF its true) doesn't mean they've caved..... all it means is that we'll hear "give in" from BOTH sets of management.
The one difference in this than AA-TWA is that the whole pissing match started with CAL. They friggin WROTE our CPA themselves, now they don't like it. Dummies.... its THEIR OWN FAULT. Anyways, sure, we have branded that is burning money, but its CAL that forced our hand.
I would think we could have a reasonable case in front of a judge this was a "set up job" from CAL since the IPO. They got their dough and convinced these people to buy at $16.... an now they beg the same people to sell at $3.50 because THEY want to go elsewhere?
THE BOTTOM LINE IS, we don't have other lines of business (ie 70-90 seaters) to subsidize RIDICULOUSLY LOW 50 SEAT CPA's bids, like CHQ and SKYW.... who partially at falult again...... CAL. We are a contract airline.... TWA was not. And the best part is CAL STILL WANTS THE CONTRACT......JEEZ. CAL changed their mind on the CPA THEY wrote before the CPA expired ....... how do they explain that?
Either way, if they throw BK in their, I'm not so sure that wouldn't screw them WAAAAAY more than us, so we ight have to play chicken.