Gidday Wal, ABX.
I'm still not sure what their rationale is either. You hear stories all the time about experienced guys not getting a look in, but the company is already bypassing command candidates because they do not meet the min legal requirements. When you consider the majority of people that they are now employing do not meet those legal mins also, then it will only be a matter of time before we see even more schedule cuts.
The stated position is that REX will continue to reduce services if necessary rather than even attempt to retain or attract experienced pilots. They have made it clear, that because of REX's superior debt/equity ratio, this course of action will not threaten the long term viability of the company. Perhaps they're right, but the angst already being felt by the travelling public does not seem to factor into their way of thinking.
The question is of course, how low will they go? Lots of variables, the problem with the price of jet fuel and the high debt of some of the major recruiters of REX pilots may play into their hands. In fact the cheif pilot of REX has mentioned this on several ocassions. My guess is that even REX will finally sit up and take notice if their business is faced with being cut in half! If that time comes, they will probably seek to employ DEC's. The T&C's would have to be far superior to attract them however. When and if that day comes Wal, then just maybe they'll appreciate people such as yourself.
Untill that day comes, REX pilots will continue to leave for greener pastures, and the travelling public will be the real losers.