Anderson is playing his hand like a Champion !!
Conventional wisdom would dictate that the #1 deal is with NW,.....BUT, if NW, due to Brutal resistance from the unions , makes thing too difficult, Anderson turns and does a "180" to an eagerly awaiting UAL.
A UAL/DL deal, brings NO significant union resistance from ual, because the MAJORITY of the total "new" DL brings more than 50% of the employees(F/A's-AMT's/FSC's) ALREADY union(from UAL)
Alpa pilots(from both) would dovetail.
The "ABOVE" then pits NW and CO, leaving NW the survivor, with a (CO) Non-union Customer service and Ramp group, ...........which, depending on the numbers in each of the two group, ........."might" ultimately leave the "new" NW with a non-union ramp and CS group. (If the "latter" is the case, I still think that the two groups WOULD get enough total votes to go ALL Union)
Again, I cannot say it ENOUGH,..........Anderson is playing his hand like a "texas hold em" CHAMP !!!!!!
Well, I said the same things about Doug Parker last year during the hostible-takeover attempt of Delta.....I thought he had NW in his sites the entire time, trying to keep pushing chips into the pot to make everyone nervous, and then pounce on NW that was still in bankrupcy who was viewing their demise (assuming UA and CO were considering pairing off). Instead, Doug kept raising, raising, raising, then folded.....
I guess my point is, who knows what these guys are thinking, or what their motivations truly are.
I can only assume that considerable thought is given in such matters, but sometimes I wonder if catalysts are racy pictures provided by hedge fund managers who have full-time P.I.'s tailing CEO's seeing who's stepping out on their wives.