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01-23-2009 | 05:39 PM

#33

flycrj200

Gets Weekends Off

Joined: Dec 2007

Posts: 1,454

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From: A320 FO

Quote:

Originally Posted by DENpilot

For the last time, the bond early-repurchase terms allow payment in stock. It's not manipulating if it's legal and in the terms! If these people don't want stock as payment, then they should not exercise their early repurchase rights....

You seem to have a problem understanding how this work. JO told the bond holders if they recall the bonds now, Mesa will file for BK and they will get nothing since Mesa has nothing. So the bond holders decided to take a chance and not recall the bonds and hope things will turn around. But they had not choice. If someone told you that you get nothing now or maybe you will got something tomorrow, what would you do? You would wait till tomorrow, and that’s what the bond holders are doing. Mesa has not assets. All the aircraft are leased. If Mesa liquidates, the bond holders would be lucky if they get a few hundred thousand dollars. Good luck to all the hard working Mesa pilots, flight attendants and non-management employees.