Excellent post TW.
But I don't subscribe to your cock up theory I'm afraid.
Surely UBS (whose boss Marcel Ospel is a pal of Moritz Suter Chairman of Crossair) doesn't make "mistakes" like that?
Both UBS and Crossair gain A LOT from SR's demise.....not least in the negotiations with the ex-SR staff they will HAVE to employ to run a long haul operation.....how better to get them to acccept Crossair salaries/conditions than to shaft their employer as painfully, publicly and quickly as possible?
And UBS need to protect their new investment in Crossair by extinguishing SR as soon as possible.
And as you mentioned, the banks have earned 20% profit today on their purchase of the Crossair shares previously owned by SR..........
Nearly forgot......and of course, Suter doesn't think much of SR.....he also needs to get revenge for having been called in to rescue it (managerially) in January this year only to "resign" 6 weeks later.........
[ 03 October 2001: Message edited by: TFR ]