Sickening. Why do people work there?
Mesa's Ornstein gets contract extension
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.
http://www.bizjournals.com/pacific/s...9/daily24.html
Obviously a big financial jircle cerk going on at the top over there, while most pilots are junior assigned down to 8 days off a month. Nice. People really need to understand why that place is such a sh!tty company to work for.