ASA (SkyWest, Inc) officially is buying XJT
08-09-2010, 10:33 AM
#251
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... ASA is a very profitable company, and if SKW INC kept separate accounts, it wouldn't have taken long for ASA to bank the $130 million. Notice SKW INC has always been very careful to never break down the individual profits of ASA and SkyWest divisions. We have no idea what ASA's actual financial situation is...
If there is no breakdown of individual profits, and you have no idea what ASA's actual financial situation is, then how can you possibly know if ASA is a "very profitable company?"
It is in fact one company. That is what will be at issue.
2010s Jerry Atkin, Skywest Inc: Skywest Airlines, ASA, XJT (Comair?)
1980s Frank Lorenzo, Texas Air Corporation: Texas International, Continental, Eastern, Air Micronesia, New York Air, PeoplesExpress, Frontier, Britt, PBA, Bar Harbor, Rocky Mountain.
Everything old is new again.
Last edited by CaptainNameless; 08-09-2010 at 10:46 AM.
08-09-2010, 11:47 AM
#253
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And have you considered the law of unintended consequences? What happens if you do prevail and force a merger, then ALPA gets voted off the property? The SkyWest pilots voted overwhelmingly (or didn't vote, the same as a no vote) against ALPA last time. Add that to the hundreds of ALPA haters at ASA, and those I'm sure you have, and you never know what might happen. Maybe it's best to just let sleeping dogs lie, and work together to hammer out a great contract with the limited resources we have?
As for unintended consequence, if ALPA is replaced by an independent, that is better than what JA wants to do. In fact, if t means the deal is off, I rather remain independent than to continue on this whipsaw path.
08-09-2010, 12:48 PM
#254
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Posts: 114
And fighting this battle to tie it to Inc just because that's where *its rumored* ASA got the money to buy you is a legal stretch. How are you gong to prove where the money came from? ASA is a very profitable company, and if SKW INC kept separate accounts, it wouldn't have taken long for ASA to bank the $130 million. Notice SKW INC has always been very careful to never break down the individual profits of ASA and SkyWest divisions. We have no idea what ASA's actual financial situation is, but I'm betting ASA bought XJT free and clear. SKW would have to have been stupid not to do it that way, and they're not stupid.
SKW asked for these sections to be dropped before, because they preferred to operate you as a third competing subsidiary. Now that they realized that's not possible, they took the second best option. The fact that they backed off last time, but not this time, is proof that they've done their homework. As slaphappy said, ALPA's quack lawyers will be no match for 2 years worth of research by Ford & Harrison's finest (as usual). All you're going to do is drag this out, and exhaust resources we could be using for the contract negotiations.
And have you considered the law of unintended consequences? What happens if you do prevail and force a merger, then ALPA gets voted off the property? The SkyWest pilots voted overwhelmingly (or didn't vote, the same as a no vote) against ALPA last time. Add that to the hundreds of ALPA haters at ASA, and those I'm sure you have, and you never know what might happen. Maybe it's best to just let sleeping dogs lie, and work together to hammer out a great contract with the limited resources we have?
Last edited by ERJFO; 08-09-2010 at 01:05 PM.
08-09-2010, 01:49 PM
#255
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I already made a wager with a friend over this topic. We bet $100 bucks to the winners charity that all three lists will merge or be planned to merge within 18 months of the announcement. I think it will happen and he disagrees.
Theres a lot of strong opinions on here and a lot of charities who could use the cash... just a thought.
Theres a lot of strong opinions on here and a lot of charities who could use the cash... just a thought.
08-10-2010, 04:45 AM
#256
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ASA has always been profitable. And the proof now is how much SkyWest Inc's balance sheet has improved since they bought us.
08-10-2010, 07:50 AM
#257
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08-10-2010, 08:22 AM
#259
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In my opinion, it's probably not possible to draw a reasonable conclusion on ASAs performance from the combined financial statements.
Can you defend your assertion?
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