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Insider Trading ?
- Thread starter mckpickle
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The Insiders, especially JO have been selling TONS of Mesa stock in the last couple of weeks. Makes sense with an aquisition the company aquiring stock tends to go down. In the early part of the year JO bought hundreds of thousands of shares of Mesa in the 3-4 dollar range. Needless to say he is a savy investor and making tons of money. I still think he is a slimy CEO, and cant wait to see him taking the stand with all the other slimy corprate scumbags... I almost forgot to add the link to all the Mesa insider transactions.http://finance.yahoo.com/q/it?s=MESA[/URL
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efiscompmon
...
- Joined
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- Posts
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Law School is finally paying off...
Jonny O was good for quite a bit of case law.....
Jonathan Garrett Ornstein, 51 S.E.C. 135, 140 (1992) (applicant failed to cooperate where he did not respond to correspondence from the National Association of Securities Dealers ("NASD"), refused and did not claim certified mail from the NASD, failed to timely notify the NASD of a new mailing address, and promised but failed to return telephone calls from NASD staff). See also Wedbush Securities, Inc. (f/k/a Wedbush Noble, Cooke, Inc.), 48 S.E.C. 963, 971-72 (1988); Gold v. SEC, 48 F.3d at 992-93.
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Jonathan Garrett Ornstein, 51 S.E.C. 135, 137 (1992).[ credibility determinations of the initial decision-maker when such determinations are based on hearing the witnesses’ testimony and observing their demeanor]
(translation--case law established that the SEC need not limit enforcement when someone "games" the system and then lies about it)
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1999 Regional Airline Association Annual Meeting
Jonathan Ornstein received a teamwork award from Professional Pilot magazine. A leader in the regional industry, Ornstein is president and CEO of Mesa Airlines of Phoenix and chairman of Brussels-based Virgin Express
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9.11 Blog: 9.20.01
Mesa Airlines CEO Jonathan Ornstein: "Why the hell are airlines still serving food when money could be spent instead on making sure passengers are safe?"
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In 1978 Ornstein dropped out of the University of Pennsylvania after his junior year, drove to Los Angeles and, at age 21, became the youngest-ever broker at E.F. Hutton. But in nine years he bounced around five firms, getting fired from some. Why? A lengthy disciplinary record charging unauthorized trading, misrepresentation, document alteration and churning. Eventually, Ornstein was fined $20,000 and suspended as a broker for three years.
----
Can a leopard change its spots?
Can Ornstein genuinely put his first career behind him? Ornstein does the best he can to explain his sorry record. "I was just too young," he says. "My problem was that when a client lost money, I felt so bad that I would do anything to try and make it back for him."
Wow! What a dirtbag!
Jonny O was good for quite a bit of case law.....
Jonathan Garrett Ornstein, 51 S.E.C. 135, 140 (1992) (applicant failed to cooperate where he did not respond to correspondence from the National Association of Securities Dealers ("NASD"), refused and did not claim certified mail from the NASD, failed to timely notify the NASD of a new mailing address, and promised but failed to return telephone calls from NASD staff). See also Wedbush Securities, Inc. (f/k/a Wedbush Noble, Cooke, Inc.), 48 S.E.C. 963, 971-72 (1988); Gold v. SEC, 48 F.3d at 992-93.
----
Jonathan Garrett Ornstein, 51 S.E.C. 135, 137 (1992).[ credibility determinations of the initial decision-maker when such determinations are based on hearing the witnesses’ testimony and observing their demeanor]
(translation--case law established that the SEC need not limit enforcement when someone "games" the system and then lies about it)
----
1999 Regional Airline Association Annual Meeting
Jonathan Ornstein received a teamwork award from Professional Pilot magazine. A leader in the regional industry, Ornstein is president and CEO of Mesa Airlines of Phoenix and chairman of Brussels-based Virgin Express
----
9.11 Blog: 9.20.01
Mesa Airlines CEO Jonathan Ornstein: "Why the hell are airlines still serving food when money could be spent instead on making sure passengers are safe?"
----
In 1978 Ornstein dropped out of the University of Pennsylvania after his junior year, drove to Los Angeles and, at age 21, became the youngest-ever broker at E.F. Hutton. But in nine years he bounced around five firms, getting fired from some. Why? A lengthy disciplinary record charging unauthorized trading, misrepresentation, document alteration and churning. Eventually, Ornstein was fined $20,000 and suspended as a broker for three years.
----
Can a leopard change its spots?
Can Ornstein genuinely put his first career behind him? Ornstein does the best he can to explain his sorry record. "I was just too young," he says. "My problem was that when a client lost money, I felt so bad that I would do anything to try and make it back for him."
Wow! What a dirtbag!
efiscompmon
...
- Joined
- Jun 24, 2002
- Posts
- 198
Intent. What did Johnny hope to accomplish?
Scenario 1--JO wants to free up cash to pursue a potentially hostile takeover of ACAI--legal
Scenario 2--JO knows that MAG is preparing to acquire ACAI and, using that privileged info, reduces his position in defense of a reasonably expected decline in share value--not legal.
Clearly, this is a tough one to prove in black-and-white, although this grey area is about as light as an army beret. It appears to skate pretty close to the edge, but was probably legal (or not sanctionable--the 21st century definition of propriety).
I have been amazed for years that he didn't go to prison for his earlier shenanigans. Tells you something about Sir Richard if he employs this sort of fool.
Might make you think about buying anything with the Virgin name--why bankroll your own demise?
Scenario 1--JO wants to free up cash to pursue a potentially hostile takeover of ACAI--legal
Scenario 2--JO knows that MAG is preparing to acquire ACAI and, using that privileged info, reduces his position in defense of a reasonably expected decline in share value--not legal.
Clearly, this is a tough one to prove in black-and-white, although this grey area is about as light as an army beret. It appears to skate pretty close to the edge, but was probably legal (or not sanctionable--the 21st century definition of propriety).
I have been amazed for years that he didn't go to prison for his earlier shenanigans. Tells you something about Sir Richard if he employs this sort of fool.
Might make you think about buying anything with the Virgin name--why bankroll your own demise?
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