I think this merger rumor has been blown out of proportion. Compass doesn't have HDQ in MSP... only Mesaba does. HOWEVER what is also headquartered in MSP and just opened brand new offices is MCHoldings. Basically NWA created MCHoldings to oversee the wholly owned regional partners Mesaba and Compass. One day all the payroll, finance, IT, accounting etc... worked for Mesaba, the next day they worked for MCH. This holdings company now runs most of the back of the house activities for Compass and Mesaba. The new offices are conveniently located in the same building as the Mesaba GO and training center. They're literally across the hall.
It would only make sense that after the merger Comair, Compass and Mesaba would be held under one umbrella... the new DCI so to speak. I bet the Comair folks were up here to deal with something that would have to do with the future of the wholly owned carriers. A full blown merger? Doubtful... there would be no more whipsaw capabilities! But a merger of much of the behind the scenes activity... very possible.