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Does anyone know more about the USXP offer to take over Airnet on the NYSE? USXP is trading at .0007, the company they are attempting to buy is trading at $3.52 and has about a 700 million market cap.
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Universal Express Offers to Solve the $100 Million Security Fees Billed to Airlines by the TSA
January 26, 2006 12:17:01 (ET)
NEW YORK, Jan 26, 2006 (BUSINESS WIRE) -- Universal Express Inc. (USXP, Trade)
"Universal Express through its subsidiary Luggage Express offered to show how it can cover the security fee that airlines are balking at paying to the TSA (see articles below.) In exchange for the payment and security peace of mind, Luggage Express is asking that the movement of luggage be separated from the passenger. We can fund this security fee payment through the revenues gained from sales of shipping luggage," said Richard Altomare, CEO and Chairman of Universal Express, Inc.
"Curiously, this separation will have other benefits as indicated below. These benefits are expanded upon in our position paper entitled 'More Safety, Less Hassle for American Travelers, a Private Sector Solution. (http://www.usxp.com/securitywp.pdf) We're prepared to initiate dialogue with interested parties," concluded Richard Altomare.
-- Decline in passenger baggage reduces the prospect of infiltration of terrorist
-- Reduce demand for baggage screening
-- Reduction of TSA security screening costs
-- Faster and enhanced security check-in
-- Refocusing of screening personal and equipment to cargo screening
-- Airline revenue enhancements because of handling less baggage and faster plane turn around.
Bloomberg article: http://www.redorbit.com/news/technology/365301/southwest_fighting_ security_fees/index.html?source=r_technology (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About Universal Express
Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Universal Express Inc.
Universal Express, Inc. Investor Relations: Mark Falk, 631-588-1644 publicrelations*usxp.com
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I'm really confused as to what would happen to the price of this stock if they bought out Airnet. Does a new set price occur with a new symbol or does the price in essence stay the same?
Anyone have ideas as to how soon this merger could take place if it follows through?
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