MAIR annual meeting 8/16/06

[Northern Lights]

Anyone going to the MAIR annual meeting in MSP next Wednesday? I have a couple of shares of stock from way back, so I always get invited. I already sent in my proxy voting AGAINST the election for Foley et al.

According to the balance sheet MAIR has $47,135,000 in cash, and Mesaba has $20,718,000 as of March 31.

It will be interesting to listen to the spin doctors.

 

[Mesabi Miner]

Northern,

If you attend, please provide full detail about the meeting. The majority of XJers would be very appreciative.

Thanks,

MM

 

[BighitterLama]

Ditto.

 

[Mesabi Miner]

Did anyone go? We need dirt on how Mr. Foley explained MAIR's stellar performance lately. Transcripts appreciated.

 

[Northern Lights]

MEeting lasted 5 minutes, I'll give the details later...

 

[mbox32]

Thats how long the March meeting lasted as well. Mr Foley would not take questions due to ongoing litigation.

 

[drift diamond]

Interesting. Did the new CEO, bob pohlad take a bow? Big turnout? Did anyone ask (know) if Foley sold the palace in Edina? Five minute meeting, eh? The old boys had thier "real" meeting down the road at Denny's/downtown (Minneapolis Club).

 

[Northern Lights]

So anyway, I want my two bucks back from taking the light rail up there. At least it was cheeper than parking downtown.

There were at most about 20 people in attendence, mostly company people and some representatives from Deloite and Touche(sp?). There were only two items of business on the agenda, which they took care of quickly. At about 10:04, Foley says something like "our lawyers have advised us not to discuss the Mesaba bankruptcy, so we won't be taking any questions." By 10:05 the Meeting was adjourned.

I figured that they would at least take SOME questions, but it looks like he just wanted to get off easy.

You can read the annual report online at www.mairholdings.com, and do your own analysis.

On another note, how much junior manning has been going on lately? Seems like attrition is high, and with the August furloughes, they might be hurting.

 

[BighitterLama]

So much for a "Public" company.....

 

[ImbracableCrunk]

Yeah, is that type of meeting - no Q&A - legal?

 

[XJohXJ]

Of course it is. All they laws are written in these jackass's favor. Now, you can also state that such a meeting is highly unethical (which we know is true of all the upper-echelon MAIR/XJ maggots).