HP on the Brink
Dec 27, 2001 | 8:13 pm
#17
Join Date: Feb 1999
Posts: 1,278
I say ... let's start a contest or pool or something.
Guess the date HP files for Chapter 11! Winner gets two CO drink coupons from me, or maybe the FT masters could come up with something. In case of a tie, first to post with date gets it.
To protect my drinks, I submit: 1/16/2002.
And ... no editing your post like I just did.
[This message has been edited by ontheroad (edited 12-27-2001).]
Guess the date HP files for Chapter 11! Winner gets two CO drink coupons from me, or maybe the FT masters could come up with something. In case of a tie, first to post with date gets it.
To protect my drinks, I submit: 1/16/2002.
And ... no editing your post like I just did.
[This message has been edited by ontheroad (edited 12-27-2001).]
Dec 27, 2001 | 8:47 pm
#18
Join Date: Oct 1999
Location: Southwest Desert, under a rock, watch out! ~~~~~~~~~~~~~~~~<" You can get there, but it's gonna cost you!
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">The market appears to "believe" that HP will get the loan guarantees.</font>
Sad, but true. [This message has been edited by snake (edited 12-27-2001).]
Dec 27, 2001 | 10:38 pm
#20
Join Date: Dec 2001
Location: Reno, NV - UA 1K
Posts: 182
I'm in Reno and America West is one of the few remaining airlines with reasonable schedules to PHX - I have had plenty of problems with them with cancelled & delayed flights, but I have nothing but praise for the way they treated me when I was stuck in ABQ on Sept 11th - they got me from ABQ to PHX, arranged a 'disaster rate' room for the night and then got me back to RNO the following day; personally I hope that they can get the bailout they need to stay in business - I'd rather fly HP than "South-Worst"
Dec 28, 2001 | 6:46 am
#21
Join Date: Oct 1999
Location: Southwest Desert, under a rock, watch out! ~~~~~~~~~~~~~~~~<" You can get there, but it's gonna cost you!
Programs: Previously NonePass, now UA 1K (*Enhanced*)
Posts: 4,248
Wednesday, January 2, 2002 would be a good bet if HP doesn't hear from the NTSB. 
p.s. Chapter 11, I would expect, and keep flying, hoping for a change of heart from the loan board. If they don't go Chapter 11 soon I wouldn't rule out Chapter 7 at a later date.
p.p.s. snake doesn't drink, so he's not entering the contest for the CO coupons.
[This message has been edited by snake (edited 12-28-2001).]
p.s. Chapter 11, I would expect, and keep flying, hoping for a change of heart from the loan board. If they don't go Chapter 11 soon I wouldn't rule out Chapter 7 at a later date.
p.p.s. snake doesn't drink, so he's not entering the contest for the CO coupons.
[This message has been edited by snake (edited 12-28-2001).]
Dec 28, 2001 | 7:54 am
#22
Join Date: Oct 2001
Location: DTW
Programs: Choice Plat, Marriott Lifetime Gold, National Exec Elite, Spirit Gold
Posts: 3,135
It'll take longer than you think. first they need to get an answer from the loan board. They'll be turned down. Then McCain has to posture and bluster for awhile, while at the same time HP execs will be both threatening bankruptcy, and working every source of money they can. Plus, based on the cash position they seem to have right now according to this article:
http://biz.yahoo.com/rf/011227/n2738179_1.html
they are not bleeding as bad as we thought.
my guess? april 12, 2002
http://biz.yahoo.com/rf/011227/n2738179_1.html
they are not bleeding as bad as we thought.
my guess? april 12, 2002
Dec 28, 2001 | 8:12 am
#23
A FlyerTalk Posting Legend
Join Date: Sep 1999
Location: source of weird and eccentric ideas
Posts: 40,091
I don't think they will keep flying during ch 11. I think they will be grounded, and their pax stranded (perhaps competitors will let pax use HP tix, though.)
Right to the last second they will be selling tix and trying to get people to fly.
Right to the last second they will be selling tix and trying to get people to fly.
Dec 28, 2001 | 8:46 am
#24
Join Date: Oct 1999
Location: Southwest Desert, under a rock, watch out! ~~~~~~~~~~~~~~~~<" You can get there, but it's gonna cost you!
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Posts: 4,248
A look at a past airline shutdown: Braniff's final hours
Sad, but true.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">(After getting unofficial news of the shutdown)...........The Captain ordered the Flight Engineer to contact operations in Dallas. Operations told the crew that it was up to them to proceed to Hawaii or land in Los Angeles. The Captain elected to go to Honolulu as the plane was full of fuel and a lot of people who paid to go to Hawaii.............</font>
Sad, but true.
Dec 28, 2001 | 2:55 pm
#25
Join Date: Dec 2000
Location: Minnesota, USA
Posts: 846
jyuu
I don't quarrel with Snake's point about the decline in the value of HP stock from around $30 to around $2.40. I was only suggesting that the current price has some possibility factored in that the loan guarantees will be approved and that is why the stock hasn't tanked even more.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by snake:
?????????? The stock has gone from $30 in 1998 to around $10 before you know when. Down 4% to $2.60 today. The value of a share today is less then a "Happy Meal" at McDonalds.
Sad, but true.
[This message has been edited by snake (edited 12-27-2001).]
The market appears to "believe" that HP will get the loan guarantees.</font>
Sad, but true. [This message has been edited by snake (edited 12-27-2001).]
Dec 28, 2001 | 3:09 pm
#26
Join Date: Oct 1999
Location: Southwest Desert, under a rock, watch out! ~~~~~~~~~~~~~~~~<" You can get there, but it's gonna cost you!
Programs: Previously NonePass, now UA 1K (*Enhanced*)
Posts: 4,248
No news is bad news, HP stock dropped another 5% today.
. Sad, but true.
hobson: Why don't you put what I said in quotes, insted of my quote of your words that I included in my post. it might make things clearer to the readers.
There's always a possibility that the loan guarantees will be approved, thats why the stock is worth so much more then zero.
[This message has been edited by snake (edited 12-28-2001).]
. Sad, but true. hobson: Why don't you put what I said in quotes, insted of my quote of your words that I included in my post. it might make things clearer to the readers.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">hobson writes: I was only suggesting that the current price has some possibility factored in that the loan guarantees will be approved and that is why the stock hasn't tanked even more. </font>
[This message has been edited by snake (edited 12-28-2001).]
Dec 28, 2001 | 6:40 pm
#27
Original Member
Join Date: May 1998
Location: Tucson, Southern Arizona, North America, Western Hemisphere, The Earth, a small planet in the solar system. Previously OnePass Infinite Platinum Elite, now over entitled 1K
Posts: 2,295
This just in:
Press Release Issued December 28, 2001 8:32:00 PM ET
America West Receives Conditional Approval for Loan Guarantees
Full text of this press release available at:
http://www.prnewswire.com/cgi-bin/mi...01639955&EDATE
Press Release Issued December 28, 2001 8:32:00 PM ET
America West Receives Conditional Approval for Loan Guarantees
Full text of this press release available at:
http://www.prnewswire.com/cgi-bin/mi...01639955&EDATE
Dec 28, 2001 | 8:55 pm
#28
Join Date: Dec 2000
Location: Minnesota, USA
Posts: 846
[QUOTE]Originally posted by snake:
hobson: Why don't you put what I said in quotes, insted of my quote of your words that I included in my post. it might make things clearer to the readers.
Point well taken. My only excuse is that my cat was walking over my keyboard at that point in time and I got a little distracted!
hobson: Why don't you put what I said in quotes, insted of my quote of your words that I included in my post. it might make things clearer to the readers.
Point well taken. My only excuse is that my cat was walking over my keyboard at that point in time and I got a little distracted!
Dec 29, 2001 | 11:43 am
#29
Join Date: Apr 2001
Location: Bethesda, MD USA
Posts: 2,802
Congratulations, boys and girls. You now own a chunk of America Worst.
http://signonsandiego.com/news/busin...lineloans.html
So does this mean it is now my patriotic duty to fly America Worst?
Ugggh.
http://signonsandiego.com/news/busin...lineloans.html
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">the company must now put up 33 percent of its stock to protect taxpayers from the risk of making the loan. </font>
Ugggh.
Dec 29, 2001 | 11:58 am
#30
Join Date: Oct 1999
Location: Southwest Desert, under a rock, watch out! ~~~~~~~~~~~~~~~~<" You can get there, but it's gonna cost you!
Programs: Previously NonePass, now UA 1K (*Enhanced*)
Posts: 4,248
33%!!Why didn't they shoot for 66%, heck, even 99% That would really protect (Enhance) us taxpayers. Como no?
Man, it's gonna be pure entertainment, I love it.
hobson: ever think of using the "edit" button to correct after your cat walks?
Man, it's gonna be pure entertainment, I love it. hobson: ever think of using the "edit" button to correct after your cat walks?