avek00
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AS Rejects HP Merger Rumors In SEC Filing

Sat Jun 04, 2005 9:51 am

"ITEM 7.01. Regulation FD Disclosure.

Recent news reports have stated that Alaska Air Group, Inc. (“Alaska”) is considering making a significant investment in America West Airlines. While it is Alaska’s normal practice not to comment on rumors such as this, the amount of change currently underway within our industry and at Alaska, as well as the extensive national media coverage repeating this rumor, have the potential of creating uncertainty among our employees. We have no current plans to become involved in a transaction with America West or US Airways and have not spoken with the investor mentioned in the original news story reporting this rumor.

The statements made herein speak only as of today. We disclaim any obligation to update or revise these statements after the date of this report in the event of changes in our plans or circumstances. "

I wouldn't be surprised if the SEC begins at least an informal inquiry into possible securities fraud against the "investor" who made the claim about AS being involved in HP merger talks...
Live life to the fullest.
 
squirrel83
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sat Jun 04, 2005 9:54 am

Yehhh Proof that it is not REAL

AND THE TRUTH MAY SET YOU FREE!!!!


Thanx for the info

Cheers~
A346, 7E7, 747, 777, Sonic Cruiser
 
Midway2AirTran
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sat Jun 04, 2005 2:17 pm

Well dam'n! I was initially getting ready to start-up my Ramp Worker contracting business based in PHX when I heard that one!

I bet the SEC will react if the source is found, considering it apparently had effects on the market.
"Life is short, but your delay in ATL is not."
 
midex461
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sat Jun 04, 2005 2:27 pm

From the other end of things, here's the HP statement on the employee site.

BIDDING RUMORS BEGIN!
Citing "someone close to the industry," media reports are swirling with news of an Alaska Airlines buy-out of America West. With 600 million-or-so passengers traveling in the U.S. every year, any one of those could be considered "close to the industry."

Not to make light of this, but these types of stories are to be expected. And our response to any questions like this must be that we do not comment. Employees should know that over the next 45 days or longer, there will be many rumors in the marketplace about this proposed merger. Some will involve airlines wanting to buy US Airways' assets or US Airways, or even America West. We just have to take the high road, get out our "no comment" recordings and keep running a great airline.

Alaska Airlines has filed an 8K with the SEC denying this rumor. "We have no current plans to become involved in a transaction with America West or US Airways and have not spoken with the investor mentioned in the original news story reporting this rumor." Click here to view the complete Alaska Air 8K Filing.
Opinions and views expressed are MINE and do NOT represent the views of US Airways
 
qxq400
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sat Jun 04, 2005 9:33 pm

HOT DAMN!!!!!!!
This is the best news I have heard all day.  bigthumbsup 
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N77014
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 7:32 am

And how would AS finance this?
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mariner
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 7:45 am

Quoting N77014 (Reply 5):
And how would AS finance this?

Alaska is one of the richest US airlines, after SWA and, maybe, JetBlue.

They have close to a billion bucks in unrestricted cash, and their share price is the highest of an US airline, higher than JetBlue, higher than SWA.

They can buy/finance pretty much anything they want.

cheers

mariner
aeternum nauta
 
N77014
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 7:49 am

[quote=Mariner,reply=6]Quoting N77014 (Reply 5):
And how would AS finance this?

Alaska is one of the richest US airlines, after SWA and, maybe, JetBlue.

They have close to a billion bucks in unrestricted cash, and their share price is the highest of an US airline, higher than JetBlue, higher than SWA.

They can buy/finance pretty much anything they want.

cheers

mariner


But that does not stop them from crying poor when they show ground handlers the door in SEA.

Nevertheless, AS would be wise to consider all options out there to secure their position in the market.
A new life awaits you in the Off-World Colonies...
 
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mariner
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 8:02 am

Quoting N77014 (Reply 7):
But that does not stop them from crying poor when they show ground handlers the door in SEA.

That is absolutely correct. I said they are rich. I did not say they are moral.

And yes, I agree, they do need to consider their options.

cheers

mariner
aeternum nauta
 
ASFlyer
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 8:41 am

Quoting N77014 (Reply 7):
But that does not stop them from crying poor when they show ground handlers the door in SEA

Should they wait until they are in the hole a billion bucks before they start cutting their costs to keep themselves in line with the competition?
 
N77014
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 8:55 am

Quoting ASFlyer (Reply 9):
Quoting N77014 (Reply 7):
But that does not stop them from crying poor when they show ground handlers the door in SEA

Should they wait until they are in the hole a billion bucks before they start cutting their costs to keep themselves in line with the competition?

Of course not. But cutting human capital is the asset that comes with its own liabilities when stepped on.
A new life awaits you in the Off-World Colonies...
 
qxq400
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 9:03 am

Quoting N77014 (Reply 10):
But cutting human capital is the asset that comes with its own liabilities when stepped on

AS gave there former rampers a choice. They choose to reject AS final position and AS choose to outsource there jobs.

The real criminals is the union that put that stupid clause in there CURRENT contract. WHAT A BUNCH OF MORONS!
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ASFlyer
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 11:21 am

Quoting N77014 (Reply 10):
Of course not. But cutting human capital is the asset that comes with its own liabilities when stepped on

We had some really good rampers that had been around a very long time. The majority, however, worked themselves right out of jobs. Despite the good paying jobs they had, they somehow felt as though they were invincible. While I am disappointed with the way that management handled the situation (because I believe they never really had any intention of keeping these folks, despite them wasting everyones time trying to maintain the appearance of "bargaining in good faith") we no longer see rampers hanging out in the terminal picking up on the cute young CSA's while both should have been working instead. Planes are generally met promptly when we arrive and marshalled into a gate without delay. Previously we could wait 5-10 minutes routinely for a marshalling crew when we all knew there were probably 40 rampers sitting around in their break room watching tv. Way too much attitude on the ramp previously that I, personally, don't miss.
 
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EA CO AS
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 12:18 pm

AS gave there former rampers a choice

And it was a Hobson's Choice if ever there was one.

The real criminals is the union that put that stupid clause in there CURRENT contract.

That clause was entered as part of the "let's kiss and make up" contract after the debacle in 1985 - and the company has held onto it the way a Rottweiler hangs onto a steak for every contract since then.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group
 
Cactus739
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 12:46 pm

Quoting EA CO AS (Reply 13):
That clause was entered as part of the "let's kiss and make up" contract after the debacle in 1985 - and the company has held onto it the way a Rottweiler hangs onto a steak for every contract since then.

What clause is that?
You can't fix stupid.... - Ron White
 
jc2354
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 12:53 pm

Quoting Midex461 (Reply 3):
there will be many rumors in the marketplace about this proposed merger.

I just wonder the origination of the rumor. Phoenix or Seattle?
If not now, then when?
 
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EA CO AS
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 1:42 pm

What clause is that?

AS managed to get a clause into the contract that enables AS to outsource any job function if they can find a cheaper provider.

That's how the SEA ramp was outsourced.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group
 
Planesmart
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 3:42 pm

Quoting Mariner (Reply 6):
They have close to a billion bucks in unrestricted cash, and their share price is the highest of an US airline, higher than JetBlue, higher than SWA.

Cash or credit lines? Unrestricted cash would be arrived at after repaying all credit lines with covenants and constraints on use, plus those repayable on demand or short-term. An acquisition or merger, unless with widespread financier support, would be a trigger event for many of those lines to be repaid / lines cancelled.

Share price or share value? Share price compared to issue price, or if you go back far enough, face value may be a good guide. A company with a share price of $10 compared to another trading at $5 doesn't make one twice as valuable / twice as successful as the other. Are you saying the current share price times fully paid / issued shares makes AS more valuable than either JetBlue and SouthWest?
 
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mariner
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RE: AS Rejects HP Merger Rumors In SEC Filing

Sun Jun 05, 2005 3:56 pm

Trading at about $30 per share with a book value of over $21 per share.

Market cap of about $830 million, with an enterprise value of over $1 billion.

Don't hold me to this, because I haven't checked the SEC filing for a while, but I believe the l/t debt is around $1 billion, but most of that is guaranteed by aircraft, with unrestricted cash of over $760 million.

It's a pretty good balance sheet.

I think.

cheers

mariner
aeternum nauta
 
phoenixX2
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RE: AS Rejects HP Merger Rumors In SEC Filing

Mon Jun 06, 2005 12:54 am

Quoting Midex461 (Reply 3):
"We have no current plans to become involved in a transaction with America West or US Airways

"Current" means "at the time of the filing" ONLY! AS has got to do something. They probably would want to have a "game plan" together before they announce anything. Their stock was taking a bath over this (like any acquiring airline). My thought was just US, but had no idea that HP and US was in the picture. Time will tell.

Rgds
 
NKP S2
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RE: AS Rejects HP Merger Rumors In SEC Filing

Mon Jun 06, 2005 1:28 am

Modern day adage:

"Nothing adds more credence to a rumor than to have it officially denied"

[Edited 2005-06-05 18:29:50]

[Edited 2005-06-05 18:30:34]
 
phoenixX2
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RE: AS Rejects HP Merger Rumors In SEC Filing

Tue Jun 07, 2005 12:02 am

 
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EA CO AS
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RE: AS Rejects HP Merger Rumors In SEC Filing

Tue Jun 07, 2005 1:51 am

The BusinessWeek article you've linked is the very same article that started the whole rumor mill up. It, like many magazine articles, was dated a week or more out from the actual date it was made available to read.

Bottom line? You're referring to old news that AS has long since responded to as false.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group

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