I've pretty much quit bothering with the day to day happenings here...
They've done what they've done and that is that. My opinion is that management should be in jail now, instead of running an airline, but I recognize that won't happen. They screwed their shareholders... because they know they don't work for the shareholders. They found that keeping their jobs was more important to them than doing the right thing for the owners... and I think that is criminal.
There are still unresolved questions... but the probability of the SEC actually protecting shareholders from bad management or financiers bad intent, and insisting that the management should work for the benefit of shareholders instead of designing to facilitate financiers robbing them... ??? The SEC is owned and operated by and for the benefit of the crooks, not owned and operated for the benefit of shareholders or the public. Is it that organized crime in fact runs Wall Street... or just that Wall Street is organized to and does in fact operate as a criminal enterprise ??? Both ??
The public interest is in having markets that function properly to facilitate trust and capital formation... not in having markets that intend to and do enable outright theft from investors as the management, financiers and authorities all wink and nod at each other. Similar issue with the broader "debates" re the utility of enabling short selling and the rules that do or should govern it... is it a legitimate public objective to deliberately enable profit from the destruction of capital ??? Or, is it only legitimate to engage in deliberate destruction of capital until those designing those rules are themselves put at risk by them ? Or, legitimate only until it threatens to fully destroy the underpinnings of the economy ???
The market reality is that shitting in your own nest in those ways has real consequences in both the short term and long term ... with more to follow... either by "corrections" that send some number of perpetrators to the housgow... and I expect that there will be events of reform will include a number of public servants in that number... OR the market over time will tend to more properly reflect the value or lack thereof in the utility of the market itself. Past speculative excesses are not the issue... as opposed to the current excess inherent in enabling the sure thing that is wrong.
XJT is a case study... and it is being studied...
The rest that is specific only to these shares in the here and now...
The time line here is now driven by two elements. One is the events taking place at the pace at which business developments occur. The other is the market reality that post dilution share prices are being allowed to, encouraged to, deflate... while it appears that shares are being bought up in accumulation mode by the big players. The timing is being driven by those two events... and by the union decisions to sign contracts, or not, by the performance to be seen at the end of the current quarter, and that which will be seen in the next. I'm not going to worry much about much of it until after the results from operating for a full quarter under new contracts and without branded are available...
I see no reason for long term holders to sell here... see few real reasons to avoid the shares now, as the risks are more than fully priced in... and see no reason to think you need to make rapid decisions in regard to these shares.
AI
