MESA to post $90 million bond

[topdawg]

Stock in the parent company of go! airlines fell 8 percent on Tuesday after a bankruptcy judge in Honolulu ruled the company must post a $90-million bond by Wednesday.
Judge Robert Faris ruled Oct. 30 that Mesa Air Group has to pay Hawaiian Airlines $80 million for misusing confidential company data that gave Mesa an advantage when it launched its interisland airline go! last year.
Mesa said it is appealing the ruling, but in the meantime Faris said the company has to post a bond. He calculated the amount of the bond using the $80 million as a base and accounting for interest and legal costs of an appeal that could take more than a year.
Jonathan Ornstein, chairman and CEO of Mesa (Nasdaq: MESA), said the company has plenty of cash and that posting the bond won't be a problem.
Stock in Mesa closed Tuesday at $3.59, down 31 cents, a 52-week low.

WAY TO GO J.O.!

 

[eaglefly]

I'm hoping when the boned by Aloha, the bond is twice that.

Hopefully then we can rid this industry of that cockroach.

 

[jea]

WARNING**** penny stocks dont always increase!! WARNING****

 

[414Flyer]

I once had this Mesa captain justify his low pay, by telling me the stock he got, made the low pay worth it. BWAHAHAHAHAHAHA

 

[Dan Roman]

FWIW, Since Mesa started Go, their cash has dropped from 330 mil to 200mil. Now 90 mil of that is locked away in a bond. Aloha will probably get just as much or more (I've heard their case qualifies for "trible" damages or something like that) Bottom line is, between losing more than a mil a month in Hawaii and the Aq court case, seems to me they will run out of money.

 

[Dan Roman]

Sorry mistaken double post

 

[CitationLover]

FWIW, Since Mesa started Go, their cash has dropped from 330 mil to 200mil. Now 90 mil of that is locked away in a bond. Aloha will probably get just as much or more (I've heard their case qualifies for "trible" damages or something like that) Bottom line is, between losing more than a mil a month in Hawaii and the Aq court case, seems to me they will run out of money.

not to poo poo on the JO bashing (as i love poo pooing on JO) but......the bond usually only requires a small percentage of the par value in cash with the rest supported by the credit of the company.

now back to your regularly scheduled JO bashing.

 

[dispatchguy]

(I've heard their case qualifies for "trible" damages or something like that)

Those are treble damages - see http://en.wikipedia.org/wiki/Treble_damages

 

[johnsonrod]

Go SUCK IT JO!!!!!!!

 

[WalterSobchak]

8 replies and no one has gone to the gold standard? I guess it must be me.

MESA SUCKS!

 

[CitationLover]

MESA SUCKS!

but JO swallows and PM is jerking off looking at porn while it is happening.

 

[labbats]

(I've heard their case qualifies for "trible" damages or something like that)

The trouble with tribles is... well in this case there isn't any. Burn it down.

 

[PBRstreetgang]

Here,
Mesa still sucks!
PBR

 

[jmt]

Mesa express confidence in their CEO!

http://pacific.bizjournals.com/pacific/stories/2007/11/19/daily24.html?jst=b_ln_hl

Mesa Air Group, parent of interisland airline go!, announced Tuesday that it has extended the contract of CEO Jonathan Ornstein for an additional three years and expressed confidence in his leadership.
On Wednesday, Mesa stock fell 7 percent, hitting a new 52-week low of $3.35, a day after the stock fell 8 percent.
The board of directors also amended the contracts of Michael Lotz, its president and chief operating officer, and Brian Gillman, its executive vice president and general counsel. Lotz and Gillman also have agreed to an additional three years and Gillman received an increase in his base salary.
The company said Ornstein and Lotz did not receive raises.
"The board of directors strongly believes that, given the challenges the company faces today, it was important to demonstrate our support of management and to ensure the continuing services of Jonathan, Mike and Brian," said Dan Altobello, lead director of Mesa's board of directors.
Those challenges include a ruling in October by a U.S. Bankruptcy Court judge in Hawaii that found Mesa (Nasdaq: MESA) had violated a confidentiality agreement by using information it gathered during Hawaiian Airlines' bankruptcy to start up the competitor service called go!.
Mesa was ordered to pay $80 million for misusing the data, but said it will challenge the ruling. Meanwhile, on Monday, Judge Robert Faris ordered Mesa to post a $90 million bond by Wednesday.

 

[regionaltard]

Nothing matters until JO gets raped in the prison laundry room. Then the healing can begin.

 

[Ur Dad]

Hopefully Repub gets the west coast flying when Mesa goes away. I'm ready to go back home.

 

[sqwkvfr]

http://pacific.bizjournals.com/pacific/stories/2007/11/19/daily24.html?jst=b_ln_hl

Mesa Air Group, parent of interisland airline go!, announced Tuesday that it has extended the contract of CEO Jonathan Ornstein for an additional three years and expressed confidence in his leadership.
On Wednesday, Mesa stock fell 7 percent, hitting a new 52-week low of $3.35, a day after the stock fell 8 percent.
The board of directors also amended the contracts of Michael Lotz, its president and chief operating officer, and Brian Gillman, its executive vice president and general counsel. Lotz and Gillman also have agreed to an additional three years and Gillman received an increase in his base salary.
The company said Ornstein and Lotz did not receive raises.
"The board of directors strongly believes that, given the challenges the company faces today, it was important to demonstrate our support of management and to ensure the continuing services of Jonathan, Mike and Brian," said Dan Altobello, lead director of Mesa's board of directors.
Those challenges include a ruling in October by a U.S. Bankruptcy Court judge in Hawaii that found Mesa (Nasdaq: MESA) had violated a confidentiality agreement by using information it gathered during Hawaiian Airlines' bankruptcy to start up the competitor service called go!.
Mesa was ordered to pay $80 million for misusing the data, but said it will challenge the ruling. Meanwhile, on Monday, Judge Robert Faris ordered Mesa to post a $90 million bond by Wednesday.

You've got to be fuggin kidding me!

The only thing that can come close to making this plausible is the phrase "thick as thieves."

 

[PBRstreetgang]

Nothing matters until JO gets raped in the prison laundry room. Then the healing can begin.

Not quite, that will just spawn the next generation of messa F/Os.
PBR