A shout out to Hawaiian Advertiser reporter Rick Daysog today.
Because of Rick, the “behind closed doors” bankruptcy agreement that saw Yucaipa Companies be granted the intellectual property rights to Aloha Airlines, including the airline’s name, was thrown out by U.S. Bankruptcy Judge Lloyd King this week.
You may recall that we talked about this questionable deal back in November and December. The deal would have resulted in Mesa Air Group taking over the Aloha Airlines name — because Yucaipa had already struck a deal to license the name to Mesa. Yucaipa was the largest shareholder in Aloha.
Judge King, emphasizing that the auction to buy Aloha’s intellectual property should have been a public process, blasted the attorneys conducting the auction for refusing to allow Honolulu Advertiser reporter Rick Daysog into the proceedings. Daysog wrote a letter to the court voicing his complaint about his being excluded from the proceedings.
King ruled that the auction must be reheld.
Mesa apparently wants to obtain the name, and rebrand its regional Hawaiian airline go! — with the Aloha name. A fact that has not gone over very well with a lot of people in Hawaii, including former employees of Aloha, and, apparently, Judge King, who blasted the proposed deal with Mesa in the first hearing held on the deal in December, where King postponed approving the auction the first time. Many in Hawaii blame Mesa for Aloha’s demise.
Kudos to Rick. Keep up the good work and keep working to keep those deals out in the open.