Bidders for TWA Identified

 
Old Feb 9, 01, 2:08 pm
  #1  
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Bidders for TWA Identified

Jet Acquisitions spokeswoman Michelle Tuchman confirmed the group is made up of three individual investors and three investment groups or companies. They include banker Donald R. Moody, president of Moody Trust Co. in Portland; Albert Vitale of West Palm Beach, Fla.; bankruptcy lawyer Stanford Lerch, a principal in the Scottsdale law firm Lerch & DePrima; and Hong Kong-based ERA Assets. Jet Acquisitions' other two corporate founders -- Rio Del Oro Inc. and Cityjet Inc. -- were incorporated in Nevada on Monday and Tuesday, according to the Nevada secretary of state.
http://washingtonpost.com/wp-dyn/art...-2001Feb8.html
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Old Feb 9, 01, 2:27 pm
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I believe
Albert Vitale of West Palm Beach, Fla
is a FlyerTalker (as well as HotTalk and Airliners.net user).
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Old Feb 9, 01, 2:47 pm
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Sure your not talking about David Vitale, which is on the boards in PLANEBUSINESS? He had something to do consulting the JAG in regards to putting in a bid. I've attached two stories from AIRWISE in regards to this on another board within the TWA section within flyer talk. Those stories can be accessed on the "(New) Company Plans $1B Bid for TWA" board. Sorry, not sure how to throw a link, not a computer geek here, just an airline (TWA) enthusiast.
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Old Feb 9, 01, 3:58 pm
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Originally posted by JohnnyUSMC:
Sure your not talking about David Vitale, which is on the boards in PLANEBUSINESS?
I'm afraid you are confusing David Levine and Al Vitale, both of them are on Planebusiness, and both seem to be involved to a certain extent in this deal.
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Old Feb 9, 01, 6:07 pm
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"This is a flying fruitcake deal. There's nobody here of substance," said Michael Boyd, president of Boyd Group/Aviation Systems Research in Evergreen, Colorado. "These are not heavy hitters in the airline business. I don't think American has much to worry about."

"Based on what I've seen, I don't see a whole lot behind this (bid)," said Joseph Tiberi, a union spokesman.

"If these clowns somehow wind up in control of TWA, it stands about a 1 percent chance of surviving," he added.
http://quote.bloomberg.com/fgcgi.cgi...R9_hVrVFdBIEZh
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Old Feb 9, 01, 6:51 pm
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Everyone's looking out for their own self-interests, so I'm not surprised by the comments.
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Old Feb 9, 01, 7:02 pm
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Originally posted by avek00:
Everyone's looking out for their own self-interests, so I'm not surprised by the comments.
And what is Boyd's self-interest here, pray tell???
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Old Feb 12, 01, 6:10 am
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Thanks for the correction above Eugene, been reading too much and started confusing names there. As for the Boyd Group, I doubt he wants anything to do with this matter personnally. Although they are a consulting firm and probably would accept the business; his big push is for the ATC system to be fixed/updated. The Boyd Group can be a little off the cuff sometimes, but they are definately straight forward.

BOYD GROUP web address: http://www.aviationplanning.com/
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