PNCL Files Chapter 11

sherpa said:
From what I understand the insurance company is on the hook for the lawsuit not pinnaglo corp
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The answer to that is apparently not so simple.

http://www.buffalonews.com/topics/flight-3407/article791956.ece

"U.S. District Judge William M. Skretny said last week that he still expects to preside over such a trial for cases that do not get settled.
A key question in such a trial could be the amount of punitive damages that Pinnacle may have to pay — and the bankruptcy case makes that question far more complicated. In contrast to compensatory damages, which are paid to a plaintiff to make up for the harm done by the party being sued, punitive damages are aimed at deterring the party from committing the type of egregious actions that prompted legal action in the first place.

Colgan's insurance for such lawsuits covers punitive damages. But since New York law does not allow such damages to be paid through insurance, Colgan would have to rely on its own resources — most likely at a time when its parent's resources are so limited that it has filed for bankruptcy reorganization.

"We always thought that if we win punitive damages, they would run to Bankruptcy Court to avoid having to pay it," Green said.
But the case might not be so simple. Green said it's unclear whether the New York punitive-damages law would apply in this federal court case against Memphis, Tenn.-based Colgan."
 
My favorite part in all of this is Colgan, who is going to be gone for all purposes will probably kill off Mesaba in the end, a company that went 67 years accident free.

Pinnacle saved us!
 
Avalon781ML said:
Thats an excellent question Rob... if I am senior to people on the Q but I am on the Saab do I displace them with the sale of the aircraft? I think thats what you are asking at least.... I would hope seniority rules but don't quote me on that.
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I think a lot of guys will end up sitting at home on min guarantee until the reduction bid is completed or the company rejects the contract and out of seniority furloughs resolve the situation.
 
Well, now we see a big part of the motivation. I can't believe that welching on lawsuits from the 3407 crash is even a possibility. There really is no justice sometimes.

So let me get this straight- CJC is ceasing to be- weren't they planning to get rid of 'Colgan' as a brand anyways? Some sort of integratioin?
Now all the United flying is going away... is that just the Q400s with former Continental, or the Saabs in IAD too?
 
matt152 said:
I think a lot of guys will end up sitting at home on min guarantee until the reduction bid is completed or the company rejects the contract and out of seniority furloughs resolve the situation.
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It's going to be a big disaster again. On July 31st my aircraft is done. For us that can hold any seat on the RJ, we can't all be pushed through class next month. I'd imagine though the union is working with the company on this.

Let the next displacement/furlough/vacancy bid be a big disaster again!
 
Firebird2XC said:
Well, now we see a big part of the motivation. I can't believe that welching on lawsuits from the 3407 crash is even a possibility. There really is no justice sometimes.

So let me get this straight- CJC is ceasing to be- weren't they planning to get rid of 'Colgan' as a brand anyways? Some sort of integratioin?
Now all the United flying is going away... is that just the Q400s with former Continental, or the Saabs in IAD too?
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All of it. We will be a Delta only contracted carrier.
 
I just can't see how our judicial system can allow with a straight face a company to file for bankruptcy when the management team that got them in debt takes a hefty raise/bonus. Makes me sick.
Best of luck to you guys/gals...hang in there!
 
Anyone else able to get on our great program Rainmaker? I keep getting an "invalid URL," even when clicking the link from the crew site. On another note, can anyone else get on the standing pref bid from the Colgan crew site?
 
oddly enough, two weeks ago i emailed the pay folks and submitted a pay discrepancy electronic form. I heard nothing back. This morning I got an email stating i will see the amount I was shorted on the 16th.
 
I wouldn't be surprised if right around Aug 1 Colgan is sold. Saabs will be gone and it will only leave the Q's. Colgan is cheap right now, and the immediate cash would be nice for 9E.
 
Id hang this in an office, if I had one
 

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todd405 said:
I just can't see how our judicial system can allow with a straight face a company to file for bankruptcy when the management team that got them in debt takes a hefty raise/bonus. Makes me sick.
Best of luck to you guys/gals...hang in there!
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Who do you think the lawmakers answer to?
 
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