NW to "make good" on series C stock from '93

[Kev3188]

I wonder how many people will feel this is a satisfactory resolution, and how many will just be happy to get whatever they can?

Pioneer Press Article here.

 

[NewHampshire Black Bears]

I wonder how many people will feel this is a satisfactory resolution, and how many will just be happy to get whatever they can?

Pioneer Press Article here.

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Kevin,
Since my interest in this proposal is of a "related" one, if it were me, I'd take the money and run(while flippin' dougie Stealin' the "bird", on the way by) !!

NH/BB's

 

[PurduePete]

About this topic - as I mentioned in another thread, I do NOT want to receive shares in the "new" NW in lieu of the money that is entitled to me from the 1993 bailout.

I'm with you NHBB; I'll take the money, thankyouverymuch 🙂

 

[FWAAA]

About this topic - as I mentioned in another thread, I do NOT want to receive shares in the "new" NW in lieu of the money that is entitled to me from the 1993 bailout.

I'm with you NHBB; I'll take the money, thankyouverymuch 🙂

While that is probably the sane course of action, consider how the stock price of LCC and UAUA popped just after the new stock was distributed after they exited Ch 11 - almost like the scheme was rigged to screw those who sold on day 1 or day 2. If you turn down new shares (that you can sell yourself), you may be cutting your recovery in half or worse.

 

[PurduePete]

While that is probably the sane course of action, consider how the stock price of LCC and UAUA popped just after the new stock was distributed after they exited Ch 11 - almost like the scheme was rigged to screw those who sold on day 1 or day 2. If you turn down new shares (that you can sell yourself), you may be cutting your recovery in half or worse.

True; the new stock may experience a brief boost after its issuance, but I believe history shows that most (if not all) recently issued airline stocks drop below their initial offering price within a few months.

So, if I were to take the new shares instead of the money, and I were to cash in on any gains that the new shares made before the bottom dropped out on them, I would get killed in short-term capital gains taxes - which would probably offset any profits that those shares might make.

Besides, what's to keep NW from saying that the new stock has to be held for a specified period of time before it can be sold? That was the case with the stock from our 1993 bailout of NW - we had to wait until our shares "matured" before we could sell it outright or roll it into our 401k accounts.

Once again, I would rather have the money... 😉

 

[finman]

About this topic - as I mentioned in another thread, I do NOT want to receive shares in the "new" NW in lieu of the money that is entitled to me from the 1993 bailout.

I'm with you NHBB; I'll take the money, thankyouverymuch 🙂

Or you could just be happy that your going to get most, if not all, of what you were owed, especially since just a few weeks ago you didn't think you were going to get anything. Complaining over the form of this compensation is pretty disingenuous. Keep in mind that the NWA management team is not the one that makes these decisions as to how claims are settled in the end (stock vs cash vs other). NWA management lobbied for this claim as part of the settlement process, which carries a lot of weight in front of the creditors committee. I know that you guys are cynical beyond reason, but I'd think you'd at least see this as a step in the right direction.

 

[big jimmy]

<_<

Or you could just be happy that your going to get most, if not all, of what you were owed, especially since just a few weeks ago you didn't think you were going to get anything. Complaining over the form of this compensation is pretty disingenuous. Keep in mind that the NWA management team is not the one that makes these decisions as to how claims are settled in the end (stock vs cash vs other). NWA management lobbied for this claim as part of the settlement process, which carries a lot of weight in front of the creditors committee. I know that you guys are cynical beyond reason, but I'd think you'd at least see this as a step in the right direction.

<_< "I know that you guys are cynical beyond reason" Gee, I wonder why?

 

[UAL_TECH]

NWA management lobbied for this claim as part of the settlement process, which carries a lot of weight in front of the creditors committee. I know that you guys are cynical beyond reason, but I'd think you'd at least see this as a step in the right direction.

Now who is being disingenuous? 😛

Notice how most airlines that adopted the ESOP scam have declared BK? 🙄

I do not know the number for NWA M&R but I invested over $130K in wages and benefits for the UAL scam and received approx. $22k in my 401K in new stock. I didn’t sell right away so I did not take as much of a hit as others. With UAL, the pilots were allowed to pre-sale and made out much better than after open on new stock.

I doubt seriously that NWA ‘fought’ for this claim ‘in general’. They might fight to give ‘something’ to the M&R but I suspect that it will be to ‘justify’ their disproportionate claims more so than being ‘fair’.

 

[Kev3188]

Keep in mind that the NWA management team is not the one that makes these decisions as to how claims are settled in the end (stock vs cash vs other). NWA management lobbied for this claim as part of the settlement process, which carries a lot of weight in front of the creditors committee.

This is the same NW mgmt. team that refused to pay over the years, even when ruled against in a court of law.

Here's a question being asked a lot in my station: How will the 12% these accounts have been accruing factor in?


Finman: Working at NW makes you cynical? Surely you jest!

 

[Red Tail Bear]

Or you could just be happy that your going to get most, if not all, of what you were owed,
/quote]
We would have been happy, if they had just paid us when they were supposed to.

 

[RobertD]

finman, stay away from the water cooler, the kool-aid must be in the water cooler. :wacko:

 

[UAL_TECH]

finman, stay away from the water cooler, the kool-aid must be in the water cooler. :wacko:

He can't stay away; he is the one spiking it..... 😛

B) UT

 

[groundcontrol]

About this topic - as I mentioned in another thread, I do NOT want to receive shares in the "new" NW in lieu of the money that is entitled to me from the 1993 bailout.

I'm with you NHBB; I'll take the money, thankyouverymuch 🙂

Any (ex)mechanic holding a series c stock claim should visit amfanatl.org to file an objection to merge the series C stock. The deadline is Friday, 4/13/07 @ 4:00.

 

[PurduePete]

Any (ex)mechanic holding a series c stock claim should visit amfanatl.org to file an objection to merge the series C stock. The deadline is Friday, 4/13/07 @ 4:00.

Thanks for the heads-up GC! 🙂

 

[groundcontrol]

Thanks for the heads-up GC! 🙂

Your welcome....
No surprise that NW wants us to go away....
Doesn't mean we have to go away quietly...