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

[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.

 

[DoinTime]

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.

Intra-day trading today hit $0.76 and climbed up to $0.81 for the close.

 

[Wesb737fo]

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.

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.

 

[lowlycfi]

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

Now at Continental. Sucks for them.

 

[Wesb737fo]

Now at Continental. Sucks for them.

gross....what is he doing there? They couldn't have hired him as a pilot.

 

[MONKEY]

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.

 

[lowlycfi]

gross....what is he doing there? They couldn't have hired him as a pilot.

That's what I hear. Unfortunate.

 

[Soverytired]

Now at Continental. Sucks for them.

OMG!

Well, I officially have no clue as to why Continental hires anybody then. Yikes!

 

[Soverytired]

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.

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.

 

[belchfire]

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!

 

[Fly2Scuba]

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.