Jul. 30 at 12:56 PM
$FLYY
Yeah, in what universe is this situation better than just allowing a fucking sale to JBLU?
Nope, the idiots at the DOJ thought they were smarter than everyone telling them blocking the merger would be disastrous.
Now let’s see how this has played out.
1. Retail lost their investment from share cancellation.
2. Spirits new owners, the bond holders and creditors are losing
$250 million per quarter and are expected to file chapter 7 liquidation in 6-8 weeks.
3. JetBlue at risk of bankruptcy
4. JetBlue shares 47% down
5. IRS loses hundreds of millions in taxes from the merger that was blocked
Perfect example of having college degrees but being 1000% stupid in the real world.
Hopefully next time two struggling companies are trying to merge the dumb fucks at the DOJ just allow the merger with safeguards for taxpayers.