REF 5

Twenty years after Herb started this place, the culture slowly began to change. The myth will continue.

rickair7777

If employees want the company to revolve around their axle, they probably need to buy the company. But better read up on UAL history first.

I've always pondered the idea of a true employee-owned company (not aware of any large ones). But it might turn into a food fight between the various labor groups, ie FA's want pilot pay, young/junior employees form coalitions to overturn seniority, etc. Probably doesn't work if you don't have market forces nudging the organization away from unrealistic trajectories.

e6bpilot

ESOPs have always turned into disasters in the airlines. SWA needs a strong team leading them out of their current rut and instead of pulling the trigger a year ago when they should have, they have basically forced this upon themselves. THEY were responsible for seeing it coming and they failed due to their hubris, lack of vision, and lack of courage.

Now we are here. It's out of our control. Hang on and enjoy the ride. I am hopeful that they will follow through and oust the current board and CEO and get someone with outside leadership experience at our helm. The practice of promoting from within has gotten us here for better and worse.

REF 5

Never had a problem with ESPP or profit sharing. The only thing about profit sharing here is it's a qualified retirement account. So most never get to touch it till retirement. And it's been used as a negotiating tool many times when our CBA came up.

Employee ownership for airlines is a horrible idea. Too many variables that you can't control as an employee.

5tools

Like the ones too big to fail that have gone through countless bankruptcies.

Flyby1206

Elliot takes 12.5% stake in SWA, Icahn takes a 10% stake in JB. Who wants to bet these guys put us together?

REF 5

Well, anything is possible. Problem I have if you read their presentation, it has plenty of criticism but short on detailed idea's. SWA needs about 400 airplanes like yesterday. On board product is going to cost hundreds of millions to convert 800 planes. Do you actually sit down with Airbus or Embraer? So you fire GK and BJ. Who do you replace them with? Yes, they are part of the problem but they have been at SWA for 3 decades. Experience has some value. Fire the whole board? Top 5 shareholders of the airline hold their allegiance to GK as well as the majority of the board. The board has been paying out somewhere in the neigherhood of 428 million(2023) in dividends. So at least as a shareholder you are getting something. I don't think JBLU has ever paid dividends. Could be wrong on that. Plus JBLU's balance sheet is not all great. All this place has is billions in unencumbered assets, more cash than debt. Everything else is a mess.

Noisecanceller

The spirit CEO may be coming available soon. He has a solid track record of bankrupting airlines.

CGLimits

We’d be super happy to offer Barry Biffle to you! He already lives in Texas and even wears a cowboy hat!! No boots though, just sneakers. We’ll even give him to you guys for free!! Hell…we’ll pay you to take him, and we’ll throw in our VP of Ops for the same price. Take the deal, it’s a good one!

WHACKMASTER

Only if you throw in some of those sweet NEOs to save me from many more years of the 737 sentence.