Mesa Shareholder meeting Dec 22

Broke in CVG

Broke AGAIN in CVG!
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Well, according to SEC filings today, Dec 22, Mesa was suppose to have a shareholder meeting to vote on allowing JO to issue an additional 900,000,00 shares (currently 25 mil outstanding). This would dilute the share value to 8/10th of a cent.

There is no news so I am assuming that the vote didn't go well.

So long JO. I guess you have a month to clean out that office and hoard as much money from Mesa as you can before the BK and liquidation.

MESA SUCKS!
 

doh

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MESA SUCK'S! I think it is sooo unfair of you to put that in your opening post! It deprives the rest of us from being the first to say it. Call me a waaambulance!:laugh:
 

SKYWRJGUY

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The Board should fire itself for keeping him around.
 

zawillif

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From Yahoo Finance http://biz.yahoo.com/e/081223/mesa8-k.html

Item 8.01 Other Events.

On December 22, 2008, Mesa Air Group, Inc. ("Mesa" or the "Company") announced the adjournment of a special meeting of Mesa's stockholders (the "Special Meeting"), which was initially called for December 22, 2008 to vote on the following proposals: (1) to approve the issuance of such number of shares of the Company's common stock as may be necessary to repurchase all of its outstanding Senior Convertible Notes due 2023 and Senior Convertible Notes due 2024 if the Company is required by noteholders to repurchase such notes in accordance with the indentures under which the notes were issued and certain related contractual agreements with respect to the 2023 notes, and if the Company elects to satisfy all or a portion of its repurchase obligations by issuing shares of its common stock ("Proposal No. 1"); (2) to approve the issuance, if necessary, of shares of the Company's common stock that may result in a person, persons, a group, or groups acquiring more than 20% of the company's outstanding common stock due to the Company's issuance of shares of common stock in satisfaction of its note repurchase obligations ("Proposal No. 2"); and (3) to approve the amendment of the Company's Articles of Incorporation to increase the number of authorized shares of common stock from 75,000,000 shares to 900,000,000 shares ("Proposal No. 3").

The Special Meeting has been rescheduled to 4:00 p.m. Arizona time on January 6, 2009 to ensure all of the Company's shareholders have an opportunity to consider and vote on such proposals. The vote of a majority of the shares of the Company's common stock present and represented at the Special Meeting is required to approve Proposals No. 1 and No. 2, respectively, while the vote of a majority of all the shares of the Company's common stock outstanding is required to approve Proposal No. 3. The meeting will be held at the Company's headquarters, which are located at 410 North 44th Street, Suite 100, Phoenix, Arizona 85008.
 

Smacktard

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The Special Meeting has been rescheduled to 4:00 p.m. Arizona time on January 6, 2009 to ensure all of the Company's shareholders have an opportunity to consider and vote on such proposals.
In other words; we haven't secured the votes necessary for this to pass so we're moving the vote back to try ensure success...
 

Russ

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Haven't been participating on the death watch in the past few months other than to see they largely dodged the bullets associated with its problems in Hawaii. Is there anything else looming large in the next six months that will require another miracle or two?
 

Broke in CVG

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NASDAQ delisting
$24 million bonds due Jan 31, 2009
$67 million due Feb 10, 2009.

Stock price hovering below 30 cents and they don't have the cash or ability to secure capital to pay the bonds.
 

kf4amu

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NASDAQ delisting
$24 million bonds due Jan 31, 2009
$67 million due Feb 10, 2009.

Stock price hovering below 30 cents and they don't have the cash or ability to secure capital to pay the bonds.
Bondholders may extend the due date of the bonds if they get convinced Mesa will succeed.
 

CX880

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After a nuclear holocaust there will still be cockroaches and Mesa, don't get your hopes up CVG. They're going to convert their CRJ options to 737s and buy out USAirways and Hawaiian in 2009 and call it USAloha stay tuned!!!
 

Plainsman

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Mesa will go into bancruptcy,reorganize and be the cheapest fers on the block. Delta and the others will love it. People don't give a rip anymore about quality, money is the bottom line. Sucks
 
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