This hostile takeover attempt is so finished...

[delta777]

Why doesn't Doogie try and save what little face he has left and withdraw his offer. He sounds like a 7-year old who just had his favorite Tonka toy just taken away from him after wetting he bed!

http://www.msnbc.msn.com/id/16889609/from/RS.2/

 

[BoeingBoy]

"He said an ad hoc committee of Delta bondholders was getting 'more and more agitated' about the Atlanta-based carrier's refusal to open up its books to US Airways."
-------
One member of the "ad hoc committee" is so "agitated" that they're one of the sources of DL's exit financing.

Lehman Brothers, in the announcement of DL securing exit financing, said "Lehman Brothers is delighted to play a leading role in this important financing for Delta, and to support the company as it emerges from bankruptcy as a strong global carrier."

Covering all the bases I guess. No matter who wins, Lehman wins......

Jim

 

[ClueByFour]

He said any move on a post-bankruptcy Delta was "probably not one we would be interested in," as it would lose many of the potential synergy benefits.

That's Doogie basically admitting that he can't run the airline without the help of a bankruptcy court.

If he's the almighty savior of the airline world, what difference does it make? Ahh, that's right: you cannot easily screw employees, creditors, leaseholders, etc outside of bankruptcy.

 

[Twicebaked]

Why doesn't Doogie try and save what little face he has left and withdraw his offer. He sounds like a 7-year old who just had his favorite Tonka toy just taken away from him after wetting he bed!

http://www.msnbc.msn.com/id/16889609/from/RS.2/

You know, I wish it were finished. I am so tired of hearing all of the crying from Delta about it.

YOU DON'T HAVE A SAY!!!!

I hope Delta does emerge on it's own and I hope it falls flat on it's face or is gobbled up and taken apart by another airline. For those FEW nice Delta employees that I HAVE NEVER seen (I am sure there are some) I hope this doesn't happen to you, but for the rest of you.....

Why do I feel this way? Because of the pompous atttitudes of the majority of the Delta employees that I have come across before the take over attempt and ESPECIALLY now.
You all sh@t the same way the employees at US do. And guess what??......Your sh@t DOES indeed stink regardless of what you think and how you act!!!!

Good riddens Delta!!!!!! Move On!!!!!

 

[Travelpro72]

I am in NO WAY an advocate of this merger attempt or our new management but lets be honest here. Would YOU wanna be part of this company with all the changes? I know that every airline has their problems but this company is being run horribly. The employees/customers are screwed on a daily basis for no other reason except M-O-N-E-Y! ! ! ! I surely want them to "Keep Delta Their Delta". We need to get business organized before we attempt anything else.

 

[delta777]

You know, I wish it were finished. I am so tired of hearing all of the crying from Delta about it.

YOU DON'T HAVE A SAY!!!!

I hope Delta does emerge on it's own and I hope it falls flat on it's face or is gobbled up and taken apart by another airline. For those FEW nice Delta employees that I HAVE NEVER seen (I am sure there are some) I hope this doesn't happen to you, but for the rest of you.....

Why do I feel this way? Because of the pompous atttitudes of the majority of the Delta employees that I have come across before the take over attempt and ESPECIALLY now.
You all sh@t the same way the employees at US do. And guess what??......Your sh@t DOES indeed stink regardless of what you think and how you act!!!!

Good riddens Delta!!!!!! Move On!!!!!

Not quite Twicebaked, once we exit from bankruptcy, we'll be a healthy and vibrant competitor. If i were Doogie, i'd be afraid, i'd be very afraid!!!

These are some of our many accomplishments while in bankruptcy, i'm sure you'll be impressed.


Reduced costs and improved unit revenues, positioning the airline to emerge from Chapter 11 with the lowest unit costs of any network carrier. Delta has improved productivity and eliminated approximately $2 billion in annual costs.


A stronger, more balanced network as a result of rapid expansion of international routes with the highest profit potential. In the past year Delta has undertaken the largest international expansion in its history, and is a leader across the Atlantic with flights to 31 trans-Atlantic destinations.


Significantly reduced net debt from $17 billion to an anticipated $7.5 billion by the end of 2007.


Improved liquidity position, totaling $2.6 billion in unrestricted cash, cash equivalents and short-term investments as of December 31, 2006.


An expected consolidated equity value upon exiting Chapter 11 estimated by The Blackstone Group to be between $9.4 billion and $12 billion.

Hey Twicebaked, how do ya' like them apples?

 

[LCC_#1]

You know, I wish it were finished. I am so tired of hearing all of the crying from Delta about it.

YOU DON'T HAVE A SAY!!!!

I hope Delta does emerge on it's own and I hope it falls flat on it's face or is gobbled up and taken apart by another airline. For those FEW nice Delta employees that I HAVE NEVER seen (I am sure there are some) I hope this doesn't happen to you, but for the rest of you.....

Why do I feel this way? Because of the pompous atttitudes of the majority of the Delta employees that I have come across before the take over attempt and ESPECIALLY now.
You all sh@t the same way the employees at US do. And guess what??......Your sh@t DOES indeed stink regardless of what you think and how you act!!!!

Good riddens Delta!!!!!! Move On!!!!!

EXACTLY!!!

Not quite Twicebaked, once we exit from bankruptcy, we'll be a healthy and vibrant competitor. If i were Doogie, i'd be afraid, i'd be very afraid!!!

These are some of our many accomplishments while in bankruptcy, i'm sure you'll be impressed.
Reduced costs and improved unit revenues, positioning the airline to emerge from Chapter 11 with the lowest unit costs of any network carrier. Delta has improved productivity and eliminated approximately $2 billion in annual costs.


A stronger, more balanced network as a result of rapid expansion of international routes with the highest profit potential. In the past year Delta has undertaken the largest international expansion in its history, and is a leader across the Atlantic with flights to 31 trans-Atlantic destinations.


Significantly reduced net debt from $17 billion to an anticipated $7.5 billion by the end of 2007.


Improved liquidity position, totaling $2.6 billion in unrestricted cash, cash equivalents and short-term investments as of December 31, 2006.


An expected consolidated equity value upon exiting Chapter 11 estimated by The Blackstone Group to be between $9.4 billion and $12 billion.

Hey Twicebaked, how do ya' like them apples?

Well your pompous attitude has said it all!!

Go Twicebaked!!

 

[NYCDelta]

Good riddens Delta!!!!!! Move On!!!!!

It's "riddance"

 

[gaucho99]

I think we're overlookong something. The general consensus is that US does not have the backing from the creditor's committe to make this merger a reality. But on the other hand, there are reports that Delta doesn't either. I may not understand all the ins and outs of how this plays out, but isn't DL in the same spot US is? Don't they need a 2/3 votes of the creditors to accept their plan? What if neither side gets the required votes, then what?

 

[BoeingBoy]

What if neither side gets the required votes, then what?

Apparently, the members of the Official Committee are divided between DL's plan and US's second offer.

If the second US offer does indeed come off the table on the 1st, that could change the unsecured creditor's math. Then it would be the DL plan vs the original US offer.

Apparently, the committee wasn't terribly impressed with the original offer or there'd have been no need for the second offer.

Jim

 

[aquagreen73s]

One only needs to take a look at SLC, LAX, or DFW to see where DAL is headed. Heck, WTF is CVG? To succeed in any business, there has to be one market, one type of product, that you can say is your "base." the new US Airways has one hell of a domestic network and the results today speak for themselves. Look at the combined route map & it's immediately apparent of what the strengths are. This is a base - it's a base from which to grow from. If the DAL purchase falls through then it's obviuos what is next for LCC & that future is a hell of a lot better than anything a DAL employee can look forward to. Good luck to them because they are going to need it.

 

[gaucho99]

Apparently, the members of the Official Committee are divided between DL's plan and US's second offer.

If the second US offer does indeed come off the table on the 1st, that could change the unsecured creditor's math. Then it would be the DL plan vs the original US offer.

Apparently, the committee wasn't terribly impressed with the original offer or there'd have been no need for the second offer.

Jim

So what if the second offer receives enough support to get US the due diligence they are looking for but not enough to swing the vote either way?

 

[BoeingBoy]

The key is probably the Feb 7 hearing. If that goes forward, the creditors will presumably only have one plan to vote on - DL's plan - and DL management will be doing whatever it can to win support.

If that hearing is put off, they could presumably have two plans and have to choose.

Here's my take on the timeline, and maybe Guilding the Lily can add some comments/corrections...

Feb 1 - if the US offer is withdrawn, DL will almost certainly emerge under their plan.

Feb 7 - if the hearing takes place, DL will probably emerge under their plan.

Any time between now and Feb 7, the official Committee can signal if they're leaning toward the US offer by asking that the hearing be postponed, insisting on due diligence starting, etc. If none of that happens, it's likely that DL will emerge under their plan.

Likewise, from now till Feb 1 Parker can signal that he believes the Committee is leaning his way by extending the deadline.

Whatever happens, the next 9 days could be interesting or they could be boring. Depends on who does (or doesn't do) what.

Jim

 

[Alice Cramden]

So what if the second offer receives enough support to get US the due diligence they are looking for but not enough to swing the vote either way?

Then it should be left to the DAL pilots to decide the vote, since they are the ones that are
currently qualified to fly DAL equipment and hold a huge claim and a vote!

Alice Cramden

 

[flyhigh]

I did read that Parker is willing to raise the offer but not move the deadline. Like him, I'm convinced that if this falls through, this industry will continue on as is until the next downturn...unfortunately. It's way too bloated an industry. Merging these two carriers would remove a large part of the glut. Unfortunately, pure economics don't rule the day. Individual economics do. If the committee opens the books to US it could force some other hands to move closer to merging...maybe to a point that forces a different merger even if this one doesn't go through. There was also some talk that the committee is demanding a pro-consolidation board be put in place upon emergence from ch11...so, something may happen anyway...who knows...