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Mesa - today's low .96 cents... so far

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True and Mesa wants to issue more stock to cover their looming debt. Mesa stock closed today at an all time low - 96 cents a share.

SOURCE: FORBES
http://www.forbes.com/feeds/ap/2008/04/08/ap4869002.html

With its $20-million-a-month Delta Air Lines contract in jeopardy, Mesa Air Group Inc. wants shareholders to allow the carrier to issue up to $37.8 million in common stock to pay off its looming debt.

Mesa told shareholders in the securities filing that it needs the flexibility to pay bondholders with stock. Forcing it to use cash right now "would have a material averse effect on the company's financial condition," the company said.

The airline recently has been roughed up by a series of bad news that's drained its cash reserves.
Mesa's new subsidiary go!, an inter-island airline in Hawaii, sparked a price war among competing carriers and reported a $20 million operating loss in the first 16 months of operation.
 
Down 27% today. Down 61% in the last 5 days.

If this keeps up, they're going to be closing down shortly.
 
It went to $1 after hours ... that's a 4% increase.
 
Jeeez, I would think everyone is jumping off the ship now. The water is rising really fast now.
 
Damn, up to a $1 after hours...I knew I should have bought 10,000 shares at .96 cents.
 
asa rat said:
I guess "Delisting on the NASDAQ" should be a topic of concern among the Board of Directors.... oh wait we're talking about MESA's Board of Directors, the board that doesn't have a clue.

http://www.nasdaq.com/about/FAQsContinued.stm#6
Click to expand...

Hopefully, this will lead to the "delisting" of J.O. and Mesa from the airline industry soon.

Let's do anything we can to assist the nosedive into the terrain. If anyone spots the mushroom cloud, look the other way and do not call for assistance. Make sure their are no survivors left to matastisize into the industry elsewhere.

Mesa is a virus that must be eradicated.

A "penny" stock...........I love it !

:)
 
Mesa stock removed from SMALLCAP 600.. to cheap.

SOURCE: CNN Money
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24328591.htm

SAN FRANCISCO, Apr. 7, 2008 (Thomson Financial delivered by Newstex) -- Standard & Poor's (NYSE:MHP) late Monday said Aftermarket Technology (NASDAQ:ATAC) Corp. will replace Mesa Air Group Inc. (NASDAQ:MESA) in the S&P SmallCap 600 after the close of trading on Wednesday.

As of today's close of trading, Mesa Air had a market capitalization of about $33 million, ranking 600th in the index, S&P said.

Shares of Downers Grove, Ill.-based Aftermarket Tech closed the regular session up 6 cents at $21.06. The company provides outsourced engineering solutions and supply chain logistics services to the consumer electronics industries and vehicle aftermarket.

S&P is a unit of McGraw-Hill Cos.
 
For all those getting "semi's" over the prospect of a Mesa bankruptcy, I'd like to remind them of history's lessons.

When airlines file Ch 11., the CEO usually walks away with million and millions in his pockets after raping the workforce out of every possible penny.

The more ruthless the CEO, the worse off the "peasants" are, and the more the CEO makes out.

In short, a CH 11 could well result in a Mesa that emerges leaner and meaner, with an even worse off pilot workforce, and an even better compensated CEO.

So . . . root away, I guess. Just admit the fact that you're really just rooting for the "punishment" of 1500+ Alpa pilots and not a whole lot else.
 
Soverytired, you're about to get some rest. We aren't talking about Chapter 11, we're talking about Capter 7. It will suck real bad for some of those 1500 ALPA pilots, but so does kicking a heroin habit. The evil entity that is MESA must die. Garanteed, your next job will be better and you will look back at your time at MESA as the bad old days.

Good luck.
 
erikgigem said:
today close.. another new record low for Mesa stock..

81 cents..
Click to expand...
Not quite a record when you consider stock splits. After adjusting for the splits the record low is $0.731 which was hit intra-day on 3 May 1988. Since then, the stock has had two 3:2 splits and one 2:1 split.
 
Hah! Thanks, I'm out of Mesa, have been for over a year. Can't believe I didn't get out earlier.

I DEFINITELY would like to see their CEO eat crow, get fired, go to jail, etc. But I'd like to see their pilots make out ok.

Ch 7 liquidation with 1500+ Mesa pilots in the street, plus Aloha/Skybus/ATA/Campion in the middle of a huge downturn means a whole lot of pain and unemployment out there for a long time.

I refuse to wish that upon Mesa pilots, or ANY pilot group, for that matter.
 
Andy Neill said:
Not quite a record when you consider stock splits. After adjusting for the splits the record low is $0.731 which was hit intra-day on 3 May 1988. Since then, the stock has had two 3:2 splits and one 2:1 split.
Click to expand...

Intra-day trading today hit $0.76 and climbed up to $0.81 for the close.
 
Soverytired said:
For all those getting "semi's" over the prospect of a Mesa bankruptcy, I'd like to remind them of history's lessons.

When airlines file Ch 11., the CEO usually walks away with million and millions in his pockets after raping the workforce out of every possible penny.

The more ruthless the CEO, the worse off the "peasants" are, and the more the CEO makes out.

In short, a CH 11 could well result in a Mesa that emerges leaner and meaner, with an even worse off pilot workforce, and an even better compensated CEO.

So . . . root away, I guess. Just admit the fact that you're really just rooting for the "punishment" of 1500+ Alpa pilots and not a whole lot else.
Click to expand...



Ohyou'rsovery wrong,

I'm definitely not rooting for anyone to lose their job, however, after experiencing what many before and after myself experienced working there, I have absolutely no sympathy for that bunch in your management team. So I suppose I am looking on with an odd sense of "Kharma is a biotch".

I knew when to get out and I got out (it was made very clear to me).

By the way, what happened to Z. K. I see he is no longer anywhere to be seen.
 
Soverytired

Here is my vision of what will happen to Mesa. They will enter into Chapter 11 seeking court protection. Once they are in Chapter 11 they will begin the process of trying to weasel out of contracts with their creditors.

While these negotiations are taking place other airlines will seek to buy pieces of the airline. For example SkyWest or Chataqua will petition the judge to buy the part of the operation doing the US Airways flying. The creditors, lease holders, stock holders, and most of all US airways will all buy off on it. These airlines will cherry pick the profitable parts of the airline, leaving Mesa with unprofitable 50 seat aircraft.

This is where Chapter 7 comes into effect. With all the profitable portions of the operation gone, they will fold up shop. JO will unfortunately ride off in to the sunset with some type of bonus, but he will be gone.
 
MONKEY said:
Soverytired

Here is my vision of what will happen to Mesa. They will enter into Chapter 11 seeking court protection. Once they are in Chapter 11 they will begin the process of trying to weasel out of contracts with their creditors.

While these negotiations are taking place other airlines will seek to buy pieces of the airline. For example SkyWest or Chataqua will petition the judge to buy the part of the operation doing the US Airways flying. The creditors, lease holders, stock holders, and most of all US airways will all buy off on it. These airlines will cherry pick the profitable parts of the airline, leaving Mesa with unprofitable 50 seat aircraft.

This is where Chapter 7 comes into effect. With all the profitable portions of the operation gone, they will fold up shop. JO will unfortunately ride off in to the sunset with some type of bonus, but he will be gone.
Click to expand...

I'm not sure there really ARE any "profitable parts" to the airline. Maybe some of the CRJ7 and CRJ9's, but those are really just leases that Mesa is on the hook for, and I really doubt there's much else there worth having.

In any case, the pilots, fa's, mechanics, and thousands of others who work there are screwed. And with the exception of the crew trackers, I feel pretty bad for all of them.
 
I bet that before he goes to the creditors JO goes to the judge and asks for relief from paying his employees...if it wern't for them and having to have motel rooms on CDO's he could make some real money!
 
The "Disco Inferno" Weird Al parody:

"Burn, baby burn, plywood inferno..."

I'll feel bad for the small minority of pilots at Mesa that were there prior to signing the present contract and tried their best to not vote it in. For the majority get my time and I'm outta here folks, I simply don't feel bad.
 

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