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

[asa rat]

http://finance.yahoo.com/q?s=mesa

 

[erikgigem]

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.

 

[flyf15]

Down 27% today. Down 61% in the last 5 days.

If this keeps up, they're going to be closing down shortly.

 

[CoATP]

It went to $1 after hours ... that's a 4% increase.

 

[WSurf]

Jeeez, I would think everyone is jumping off the ship now. The water is rising really fast now.

 

[GOULET!]

Damn, up to a $1 after hours...I knew I should have bought 10,000 shares at .96 cents.

 

[asa rat]

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

 

[B.T.Justice]

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

Start the clock! 30 More days of this and they will be delisted!

 

[poorpilot83]

No No no it takes 30 CONSECUTIVE days below $1.00 and then they have 180 days to get it back above $1.00

 

[B.T.Justice]

No No no it takes 30 CONSECUTIVE days below $1.00 and then they have 180 days to get it back above $1.00

Ummmm...thats why I said "start the clock"

 

[eaglefly]

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

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 !

 

[asa rat]

No No no it takes 30 CONSECUTIVE days below $1.00 and then they have 180 days to get it back above $1.00

Unless they file bankruptcy in June... but then they (should) have bigger concerns

Today's market cap is only $25.8 million with 37 million due in June...

 

[erikgigem]

today close.. another new record low for Mesa stock..

81 cents..

 

[erikgigem]

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.

 

[ParrotheadGTI]

down to $0.79 in after hours.. nice.

 

[Soverytired]

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.

 

[Jon Rivoli]

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.

 

[Andy Neill]

today close.. another new record low for Mesa stock..

81 cents..

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.

 

[Soverytired]

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.

 

[RIDETHELIGHTING]

ch-11 tomorrow on the 11.