Guest

One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 3:28 am

Howdy all

I just got this report in my email, and one name, Albert Vitale, is a name which is recognisable from these forums. Is it the same Albert Vitale who goes by the username ACVITALE who is the CEO of regional startup?????

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Continental appeals TWA auction ruling
Houston-based airline challenging terms it says favor rival buyer AMR

02/13/2001

By Katherine Yung / The Dallas Morning News

Continental Airlines Inc. is appealing a federal bankruptcy judge's Jan. 27 decision allowing the auction of Trans World Airlines Inc. under terms that it says favor the parent of American Airlines Inc.

The appeal comes after Houston-based Continental failed to persuade U.S. District Court Judge Sue Robinson to change some of the terms of the bidding process for TWA, which is in Chapter 11 bankruptcy proceedings.

A Continental spokesman declined to comment Monday on the notice of its appeal filed Feb. 6 in U.S. Bankruptcy Court in Wilmington, Del.

Continental said last month it is willing to pay between $300 million and $400 million for some TWA takeoff and landing slots, gates and other facilities at four airports in New York, Chicago and Washington, as well as form a marketing partnership with the ailing carrier.

Continental had objected to a breakup fee, then set at $75 million, and other protections that Fort Worth-based AMR Corp. would receive if it fails in its bid to acquire TWA.

In addition, Continental wanted the bankruptcy court to allow bids for some of TWA's assets rather than only for the whole airline, and to extend the deadline for competing bids from March 1 to May 1.

But other than a $10 million reduction in the breakup fee, Continental's effort proved unsuccessful.

So far, AMR is the only party that has made a bid for TWA.

A group called Jet Acquisitions Group Inc. said last Wednesday that it plans to make an offer for the airline as early as this week. The group is willing to pay $800 million in cash, compared with AMR's $500 million.

Donald Moody, an investment banker who runs his own firm in Portland, Ore., is Jet Acquisitions' majority shareholder, said Albert Vitale, a director of Jet Acquisitions.

Aviation consultants and aircraft leasing brokers would assist the airline through a newly formed Las Vegas company called Rio Del Oro Inc., Mr. Vitale said. A cadre of airline management personnel would form Cityjet Inc. and function as a turnaround team.

If successful in its bid, Jet Acquisitions plans to keep some TWA management to run the airline, Mr. Vitale said.

Jet Acquisitions of Scottsdale, Ariz., is not backed by any established airlines, and former Continental Airlines owner Frank Lorenzo is not one of its investors, Mr. Vitale said.

Mr. Moody could not be reached for comment Monday.

His corporate biography states that he has provided financial consulting services to government officials of several countries, including Argentina, Ecuador, Russia, Indonesia, and China.

It also listed him as a professor of finance at Ohio University's College of Business and special financial adviser to the university.

The school could not confirm Monday whether he is currently on the payroll.

Before starting his own firm, Mr. Moody worked at Security Life of Denver, US Life Corp. and New York Life Insurance Cos. in Colorado, New York, California and Oregon from 1965 to 1976, according to Dun & Bradstreet records.

Until a year ago, Mr. Moody also served as chairman of Perkins International, a now-dormant financial services firm in Portland that specialized in deals that were difficult to finance, said Jim Jeddeloh, president of Perkins & Co.

Stanford Lerch, 68, and Anthony DePrima, 62, serve as Jet Acquisitions' lead attorneys.

The two run a small law firm in Scottsdale, Ariz., and have practiced law in Arizona since the 1960s, said Matt Silverman, a spokesman for the State Bar of Arizona.
 
B747-437B
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 3:31 am

Yes, it is the same Albert Vitale.

"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
Guest

RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 3:35 am

Thanks for that.

Does anyone have any information on the regional start-up airline Albert is/was hoping to start-up.....seeing as I take it those plans have now fallen by the wayside, why did those plans fail? Lack of funding? If that is the case, what hope would they have in securing $800 million for TWA?
 
B747-437B
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 3:38 am

I'll let SegmentKing handle the specifics about MW/FCA.

However, I can confirm that plans for the regional carrier are presently on hold.
"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
Guest

RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 4:41 am

As Sean confirmed, ACVitale is indeed Jet Acquisitions' Albert Vitale, a former executive with GECAS, and regiona airine CEO-hopeful.

Scotty, aren't we proud of him?  Smile

rgds
russ
 
EIPremier
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 5:23 am

I have been aware of this for sometime, but given the fact that AC has not mentioned it, it is possible he may want to keep it a secret, and I was kind of hoping it wouldn't be disclosed. However, his name was printed in several newspapers, so one has every right to be curious.
 
airsicknessbag
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 5:31 am


Hmm, he can´t be too secretive about it, he has it in his user profile.
Just playing the devil´s advocate: could it be this is just someone who uses a genuine airline CEO´s name as user ID here? I mean, "G Dubya" isn´t for real either, is he? Oh. and I´m not an airsickness bag in real life either  Big grin.

Daniel Smile
 
SegmentKing
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 5:31 am

Russ, since when was Albert a GECAS EXECUTIVE??????/ have you met him personally? have you worked on this project with him???

Sean---

thanks for leaving THAT door open. If you all want to know what's up with Midwest Wings / First Choice Air, just go to the site and read. I'm thinking of putting up cute add banners to raise capital, so keep coming back!!!

thing is, what kinda ad banners to put up.. cause you'd have to click them for me to get MONEY MONEY MONEY!! BWAHAH

egads... fCA is back on target w/ UA... codeshare talks are starting back up in the spring once Merger mania is over with, but "handshake" deals have been made with SK and AC so far...

Nate
~ ~ ~ ~ pRoFeSsIoNaL hUrRiCaNe DoDgEr ~ ~ ~ ~
 
SegmentKing
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ElPremier

Wed Feb 14, 2001 5:37 am

the only way you would have secretly known about this bid was if you were in contact with one of the consultants or even Albert.. and he doesn't spend much time responding to kids on here... and the consultant isn't a big fan of childrens as well.. he won't post here anymore :P

It's kinda funny how all the sudden Al makes it big, and everyone is like "Oh, i KNEW him..."

*twirls finger in hair*

just let the guy be... and yes, he is CEO of Midwest Wings Airlines, a Delaware Sub C Corporation.

Nate
~ ~ ~ ~ pRoFeSsIoNaL hUrRiCaNe DoDgEr ~ ~ ~ ~
 
B747-437B
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 5:55 am

Russ : He's not a "former GECAS Executive", but he has worked for them. Nonetheless, its a darn sight more than most of the people on this board will ever aspire to.

ElPremier : Pardon my french, but WHO THE F**K ARE YOU? I know what kind of precautions Albert took to throw a screen around the whole bid until it became public and I am damn sure that you were not on the inside. So stop fabricating crap because it makes you look like a bloody moron.

Airsicknessbag : ACVitale is really Albert Vitale. He has posted to airliners.net from a computer in my office before, so I can vouch for his authenticity. His cellphone voicemail says "Hi you have reached Albert". His fiance in Florida also says that his name is Albert. So does his mom. So don't sweat it....

Nate : No need to snap at poor Russ like that! He is actually one of the few people here with a positive IQ, so its not worth alienating him!  Smile

BTW, I hope you aren't including me in that "Oh I know Albert..." group. Does anyone REALLY know the man?  Smile
"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
Guest

RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 6:05 am

Woof Woof Woof

Give a woof to the big D-dawg for me. Woof! Woof!
 
Guest

Airsicknessbag

Wed Feb 14, 2001 6:36 am

Hello, I like what you said about The President of The United States posting stuff on here. Now the Ex-Airline CEO posts stuff on here.

WAY TO GO ACVitale!!!!!

-Frank Lorenzo
 
EIPremier
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 9:51 am

I think you all misunderstood my post. I found out by reading the newspaper. I don't have ANY special connections, nor do I claim to. I suppose my wording was not precise, so it's my fault. The newpaper article was about a week ago, if I recall correctly. But, I claim to have NO special connections. That was not at all my point!!

And, no I was not aware it was included in his profile. But I did a search, and he has not mentioned this.

I'm just looking out for a person's privacy. I am aware that Sean havs met with ACVitale personally. Therefore, I'm perfectly OK with the fact that he affirms this. But, I think it would be improper if someone had not asked ACVitale if it was OK to disclose this info on the forum. That is simply good manners.

 
EIPremier
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 9:57 am

Again, I want to re-emphasize that I do not know ACVitale in any way, and I did not mean to imply that I know him. Seriously! All I did was read the newspaper, and it didn't take a lot of guess work to figure out that there is most likely only one Albert Vitale in West Palm Beach who has a strong interest TWA.

Still, I would have never suggested any relation to ACVitale, as it cannot be proven unless somebody has met ACVitale. In short, I was advising caution. Don't blow the horn until one is sure. Fortunately, Sean can corroborate this.

I'm really embarrassed by all this. I had no idea my comments would be interpreted in that way!
 
Guest

RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 10:10 am

ElPremier: No need to be embarrased dude, it was a simple mix up. I'm sure that when Sean understands what you meant to say, he'll apologise. Anyway, I understand and I think it was polite of you.

Sean, thanks.

Nate, I have not met Al and have not worked on any project with him (unfortunately, I think he's pretty cool!). But from what I've read on here and heard from others I knew he was a GECAS guy. Sorry to offend you. Like the banner adds proposal for FCA though, it may even liven up a pretty miserable amateur website.

russ
 
twa
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Go Albert!

Wed Feb 14, 2001 10:36 am

Go ACVitale!!!!! I have always respected & liked him. I think its awesome that he is interested in TWA.

Go Albert!!!!!!!!!!!

TWA
 
Guest

Puhleeeeze This Is BS

Wed Feb 14, 2001 11:59 am

I am with AirSickness Bag.............this is B.S.-------------------------I will believe it when i see FULL details disclosed about this BS 800mil deal..........PUHLEAZZZZE people.......get a life!!!!!!!!!!!!!!!!!!! Stop trying to put together cheapy-looking websites that are trying to be an airline.

this crap is BS.........Any business exec or anyone involved seriously in the airline industry, does not have time to sit around on airliners.net all day and post topics about their "wanna-be" airlines.
 
Archie Bunker
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RE: Puhleeeeze This Is BS

Wed Feb 14, 2001 12:25 pm

this crap is BS.........Any business exec or anyone involved seriously in the airline industry, does not have time to sit around on airliners.net all day and post topics about their "wanna-be" airlines.

That would be Ceilidh...Neil Robertson, C.E.O. The Wings Group plc
 
SegmentKing
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RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 12:34 pm

No russ, just giving you a dose of your own medicine. Remember the TWA 727 ? and how you tore that poor kid apart.... you say how people need to follow "proper ettiquette guidelines"

I'm just throwing it back at you... saying he is a GECAS "EXECUTIVE" is a "lil white lie" :P

Pardon just being a bit#$*$

lets see yer webwork and how many Fortune 500 companies have expressed interest in it... have 3 in Oakland County Michigan, 2 in Macon County, Illinois, 1 in Cook County, Illinois, and a Milwaukee based bank. they love the new look....

anyway, I just think you need to (in your own words) read through the guidelines of the site before you post false or wrong information *laugh*
~ ~ ~ ~ pRoFeSsIoNaL hUrRiCaNe DoDgEr ~ ~ ~ ~
 
Guest

RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 2:26 pm

Nate,

Your quoting things that don't exist.  Smile

"proper etiquette guideline" What does that mean? Dude, I don't talk like that.

"In my words" Nope. Nothing you said in the last sentence was "in my words". haha

Anyway, theres a tremendous difference btwn breaking the forum rules and mistaking (out of naivette) someone's formal position in large and beaurocratic international corporation. Come on Nate, you got to have something better on me.

Anyway, I see you didn't post your friend's responce re: 727s in Europe for that "poor kid".

rgds
russ
 
Guest

RE: One Of Our Forum Members In TWA Bid?

Wed Feb 14, 2001 2:51 pm

(Huhhh,...has this become a forum on forum etiquette?)

Hey, didn't y'all notice the posting by Frank Lorenzo?

And I know it was him because, in his profile, it says he "respects none" and is "respected by none"! That's Frank...  Big grin
 
Guest

Lsjef

Wed Feb 14, 2001 9:24 pm

Yes, You are right. I dont respect anyone & nobody respects me.

-Frank Lorenzo
 
Guest

Segment King

Thu Feb 15, 2001 11:41 am

And then you woke up.
 
SegmentKing
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RE: One Of Our Forum Members In TWA Bid?

Thu Feb 15, 2001 1:21 pm

He's a regional MGR for TWA... i e-mailed him the moment i saw it asking and haven't gotten a response yet... he's more interested in stuff on albert... *lips bleeding*

and RUSS, i'm just throwing rules at you like you did him... saying HOW his topic was SO misleading and all that bull crap.. don't pull a Jesse Jackson on us....
~ ~ ~ ~ pRoFeSsIoNaL hUrRiCaNe DoDgEr ~ ~ ~ ~
 
B747-437B
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RE: One Of Our Forum Members In TWA Bid?

Fri Feb 16, 2001 2:12 am

Nate/Russ : TIMEOUT!  Smile Sheesh, you kids....

Also, I spoke to Albert yesterday and he says that in the event any of you are contacted by any journalists for comments about him, please redirect them to Michelle Tuchman at Learch & DiPrima. Her number is 480-874-9000

"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
N628AU
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RE: One Of Our Forum Members In TWA Bid?

Fri Feb 16, 2001 5:30 pm

As the old line goes, the way to make a small fortune in the airline business is to start with a large one.

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