"Latest and Greatest" about jetBlue
05-25-2012, 06:02 AM
#2721
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,920
Not to degrade or diminish anyone else's opinions and experiences but the 1193 have some serious soul searching to do. As it stands now we are grossly under protected and subject to a laundry list of negative scenarios. Our benefits package continues to erode year over year. As 3A's end becomes more of a reality our futures certainty further complicates. The potential judgement poses an interesting question for Jetblue leadership as the substantial amount has not been disclosed to the SEC. The legal firm handling the case has suggested such an omission in a 10K report is subject to legal action.
As the stock could drop 20-30% with such a large judgement the airline becomes a takeover target again. The BOD and leadership are currently considering purchasing aircraft in cash to reduce to the potential free cash flow. Consider purchasing a product for 3 dollars and someone gives you 1 dollar and fifty cents back. Based on market cap this is a plausible scenario and something Jetblue is acutely aware of.
I caution those who pass judgment on ALPA based on a regional carrier experience. As there has been a complete turnover and mentality at ALPA the focus is once again on the individual carrier and not an internal agenda.
We are a business my friends and as such decisions will be made that protect the shareholders and board of directors. We are neither and therefore must do what we can to protect ourselves and our families.
As the stock could drop 20-30% with such a large judgement the airline becomes a takeover target again. The BOD and leadership are currently considering purchasing aircraft in cash to reduce to the potential free cash flow. Consider purchasing a product for 3 dollars and someone gives you 1 dollar and fifty cents back. Based on market cap this is a plausible scenario and something Jetblue is acutely aware of.
I caution those who pass judgment on ALPA based on a regional carrier experience. As there has been a complete turnover and mentality at ALPA the focus is once again on the individual carrier and not an internal agenda.
We are a business my friends and as such decisions will be made that protect the shareholders and board of directors. We are neither and therefore must do what we can to protect ourselves and our families.
05-25-2012, 06:05 AM
#2722
Gets Weekends Off
Joined APC: May 2012
Posts: 1,099
I'm not "stirring the pot" so let me just say that. I've just been told that this is currently being considered. I can only speculate as to why only but reducing some of the cash on hand is an option. Personally I thing we are for sale. Offers were tendered in the past however selling at $4/share does not do much for Senior leaderships career expectations.
05-25-2012, 03:27 PM
#2723
Gets Weekends Off
Joined APC: Jul 2006
Posts: 275
Ok, well it sounds like some bad stuff has been developing over the past few days. So here is the question...when will the next union vote be?
05-26-2012, 07:36 AM
#2724
Gets Weekends Off
Joined APC: Nov 2006
Position: Passed out in my hammock
Posts: 299
05-26-2012, 07:37 AM
#2725
Gets Weekends Off
Joined APC: May 2012
Posts: 1,099
Hopefully the drive will start very soon. There are a few variables including 3A and the ongoing delay of retirement. Any time a union drive starts JetBlue claims laboratory conditions which they use as a mechanism to delay any further improvements.
For the record the current retirement debate has been "under review" since 2007. The proposed retirement fix does little to bring the pilot group to industry standard.
For the record the current retirement debate has been "under review" since 2007. The proposed retirement fix does little to bring the pilot group to industry standard.
05-26-2012, 08:16 AM
#2726
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,920
So 3A may destroy the company. Great idea.
05-26-2012, 08:47 AM
#2728
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,920
The law suit had much less to do with following a contract, and much more to do with personal financial gain, also known as personal greed.
05-26-2012, 08:53 AM
#2729
SDQ Base Chief
Joined APC: Mar 2006
Position: 320 CA
Posts: 5,691
So what do you propose to do instead?
05-26-2012, 10:49 AM
#2730
Gets Weekends Off
Joined APC: Nov 2006
Position: Passed out in my hammock
Posts: 299
If there is anyone to blame for all this, it is the company itself. I still can't believe they had the PEAs published and signed with 3a still in there when compliance with the paragraph mathematically cannot equal the rates in the contract.
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