Delta (DAL) Merger With Northwest (NWA) Could Come In Days
The on-again, off-again merger between Northwest (NYSE: NWA) merger with Delta (NYSE: DAL) appears ready to go through. The deal could be hurt by the fact that the pilots have not signed up for the marriage. According to The Wall…
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The on-again, off-again merger between Northwest (NYSE: NWA) merger with Delta (NYSE: DAL) appears ready to go through. The deal could be hurt by the fact that the pilots have not signed up for the marriage.
According to The Wall Street Journal "They could go ahead without the support of Delta’s 6,000 pilots. Delta and its pilots remained in talks over the weekend on a new post-merger contract that would cover that group only, leaving negotiations with Northwest’s 5,000 pilots for a later day."
It sounds like the chances for a culmination are less than positive. The pilot’s union could strike either airline and other workers might well go out in sympathy wanting to make it clear that management does not have a free hand in the future of the carriers.
A prolonged strike could do tremendous damage to a new carrier, driving all of the financial benefits out of the merger.
So much for executives and boards running companies.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.