Virgin America Latest and Greatest
11-05-2014, 07:29 AM
#1285
Gets Weekends Off
Joined APC: Aug 2008
Posts: 181
Close... officers can't say anything, so the employees don't know any more than the general public.
It is becoming apparent to us though, that what we were led to believe about a payout and reality will be very different indeed.
It is becoming apparent to us though, that what we were led to believe about a payout and reality will be very different indeed.
11-05-2014, 11:05 AM
#1286
Gets Weekends Off
Joined APC: Nov 2013
Position: Jet
Posts: 214
Curious.....What were you led to believe about the IPO payout?
11-05-2014, 11:27 AM
#1287
Gets Weekends Off
Joined APC: Aug 2008
Posts: 181
When the company refinanced in 2010, they created some sort of entity that held 16.7% of the company in the name of the employees, to be distributed to us as cash after IPO. Today, the company is valued at about $1 billion. That should mean that we are entitled to $167 million, right? No, we are looking at $5 million. To be split among 2500 employees by some unknown formula
Shameful, really.
Shameful, really.
11-05-2014, 02:34 PM
#1288
Gets Weekends Off
Joined APC: Jan 2009
Position: Airbus 319/320 Captain
Posts: 880
When the company refinanced in 2010, they created some sort of entity that held 16.7% of the company in the name of the employees, to be distributed to us as cash after IPO. Today, the company is valued at about $1 billion. That should mean that we are entitled to $167 million, right? No, we are looking at $5 million. To be split among 2500 employees by some unknown formula
Shameful, really.
Shameful, really.
11-05-2014, 02:54 PM
#1289
Gets Weekends Off
Joined APC: Aug 2008
Posts: 181
If the company is worth $1B, 16.7% of that is $167M. I understand we are going to be sharing about $5M due to some refinancing that we called management on but they (well, "he") avoided giving a straight answer.
11-05-2014, 02:59 PM
#1290
Gets Weekends Off
Joined APC: Nov 2013
Position: Jet
Posts: 214
Sure, if we still have a stake in the company afterwards, right? Since they are selling about 30% of the company, you would think 30% of OUR shares would be sold. But the way I understand it, this is a one-time thing. At IPO our stake in the company is sold - all of it.
If the company is worth $1B, 16.7% of that is $167M. I understand we are going to be sharing about $5M due to some refinancing that we called management on but they (well, "he") avoided giving a straight answer.
If the company is worth $1B, 16.7% of that is $167M. I understand we are going to be sharing about $5M due to some refinancing that we called management on but they (well, "he") avoided giving a straight answer.
Last edited by Bugaboo; 11-05-2014 at 03:21 PM.
Thread
Thread Starter
Forum
Replies
Last Post
