Mesa Haters, Here You Go, Just Might Get What You Want
 

Nasdaq says Mesa risks delisting

January 4, 2008 7:38 PM ET

Mesa Air Group, parent company of go! interisland airline, has received notice from Nasdaq that it risks delisting for failing to file its 10-K, according to a filing with the Securities and Exchange Commission Friday.
Mesa (NASDAQ: MESA) failed to file its 10-K for the fiscal year ended Sept. 30. The company announced last week that it had delayed the filing until Jan. 15.

Mesa said it plans to request a hearing before a Nasdaq listing qualifications panel.

The company said that it expects to meet the projected filing date, which will precede its hearing.

http://news.moneycentral.msn.com/pro...104&id=7997157


I will admit my stupidy, I'm not sure what this 10-K report is, but there stock has been around $2.00 per share (give or take a few).....and nothing in their favor so far from the Hawaiian law-suit, but it doesn't look to good for them!

Ooh, Schadenfreude!

The 10-k is the annual report. Not the slick published kind for public consumption, but the SEC mandated annual report and statement of financial condition. Delaying the release of this is not a good thing.

Maybe JO is trying to hide the fact they are pulling an Enron. :D

They may have delayed the filing in order to provide more definitive information on the pending outcome of the Go! lawsuit. If it gets delayed any further than Jan 15, I think that would be a bright red flag.

Smells just like Enron. I think some books are getting padded. I think the feds should investigate.

Or scrub every computer, laptop, and TI-82 of "porn"

Over/Under on whether or not Mesa is around in TWO years?

My bet is on the UNDER!

You should be more concerned with what airline JO will ruin next. It won't be good for pilots in the industry regardless.

As mentioned, the 10K is a report the SEC that every publicly traded company has to make. Here is what they look like:

http://finance.yahoo.com/q/sec?s=MESA

JO getting paid to ruin another airline would be bad for the industry...but Mesa going under would be good for the industry (with the exception of their pilot group and employees)

If Mesa loses the UAL flying and the Hawaii lawsuit, I would hope that would a) make it pretty tough for JO to convince any investors or exec board to ever hire him to run anything involving "planes" and "flying" and b) send a message to management at other regionals and majors that there is MORE to be considered when awarding routes than raw costs...and that cost-cutting measures DO have a lower limit below which quality gets so bad it would've been better to go with the slightly more expensive company on that RFP.

JO with any luck will be going to jail. I highly doubt that JO will ever run another airline other than Mesa.

We can only hope that Mesa tanks. :)

There's an article in today's (Jan. 7, 2008) USA Today regarding the pork barrel spending of Congress on EAS service to places that really shouldn't qualify. It mentions Air Midwest as being the recipient of such money.

It would be interesting to see how much JO and his extended tentacles reach in the lobbying business in Washington WRT to the EAS contracts and even which airports qualify for EAS.

I know that Oshkosh, WI used to get EAS service to ORD even though Milwaukee is only about 90 minutes to the south and Appleton is literally only 20-25 minutes north and GRB is about 45 minutes north. What a joke.

And JO is the recipient of much of this EAS cash. The sooner he is banished from the business the better off everyone will be.

I don't think JO has much chance of getting employed at a real airline...his antics are pretty well known in the industry. Especially if leaves mesa in the midst of catastrophe.

Rumor has it he and his cronies are going to Spirit next... he is supposedly on the BOD over there.

Good thing I didn't hit 'submit' on that Spirit application.

While we're on rumor avenue, I heard that the reason for the delay is "missing" money... millions of it. And it's not the HAL money either. My bet? It's PM's golden parachute for taking the fall.
:eek:

Do you have a link to that article? I'd be interested to read it.

No link. Its' on the Op/Ed page of section A or Section 1. I am sitting on the hotel all frickin' day in SDF and read the newspaper at the great "Continental Breakfast" of dried out muffins and Country Crock fake butter at the Best Western.

I don't know if USA Today publishes the whole thing online or not.

Anyway, it's no secret that Air Midwest is a big beneficiary of EAS dollars. And I am just wondering how those contracts are divied up.

It is what it is. Some places probably need/deserve EAS and for others it is pure pork barrel spending.

Ok, thanks. I'm at home and it's rainy and I'm too lazy to go out and actually get a paper. I'm also apparently too lazy to look it up online. :)

I'm jealous, I wish I was at a hotel. Even bad continental breakfasts are better than having to provide breakfast for yourself.

Get a girlfriend...mine cooks me Eggs and other scrumptious breakfast delicacies LoL :D

Haha. I always tell people I need a wife because I want someone to cook for me and do my dishes. The joke is that I'm a girl, myself, and I'm not really interested in my own gender. I guess I just need a chef and a maid. :D

I wonder where I could find a pilot to marry me and support me? All pilots are rich, right?

I know of several EAS cities within 2 hours of major airports where local entrepreneurs start bus shuttle services which offer more departures/arrivals, at-your-door pickup, more reliability, half the cost, and roughly equal time enroute...since many many Air Midwest flights arrive at terminals outside the security/terminal area of Southwest and any non-USAir/Midwest Airlines majors...that one additional security and bag pickup (assuming you're not codesharing on USAirways or Midwest) at many airports kills any time savings over a direct bus schedule for many EAS cities. Thus many EAS cities have extremely low loads. It's almost unfair that the bus service has a better product and higher demand, yet the mismanaged company (Air Midwest) with little demand and in many cases little purpose gets a gov't subsidy.

I understand routes like Ft. Leonard Wood, MO and other cities with prison, military, and other important installations requiring air access--because they are usually more remote places that actually have a need for scheduled air service.

An interesting note for the future of EAS, though--it will probably become an even more obsolete option once we have 4-6 seat VLJs hopping around all over the country.

And as for the "commerce" argument...anyone significant investor, developer, or economic player who needs to get into a town to do business probably already has a charter or a privately owned aircraft.

I'm told that besides this little issue with the SEC, and the two well known lawsuits in Hawaii, Mesa also has a big debt bill coming due soon.

I see a total shutdown, aka PanAm, et al.

"I see dead people, I mean airlines."

http://www.mnight.com/images/movies/...colm&cole1.jpg

::Insert foot in mouth now:: LoL :o

My guess is its the money funneled into all the offshore "holding companies" that JO and his cronies are all managing partners in.

No worries. It only would have been offensive if we were talking face to face and you thought I was a dude. :)

Hmm...you know, I'm a fantastic cook - Just thought you might be interested, since you're hungry and all LoL ;)

I've got a couple Egg-MRE's from Iraq and Afghanistan that I would be willling to part with. Don't worry, the green color is normal....

You're killin' me man! I'm not gonna snag a date with MRE's :D And my brother is a Marine - thought that since I'm a starving Pilot it would be funny to get me several boxes of MRE's for Christmas LoL

You mean u guys dont light your cigars with $100 dollar bills???? Dammit!!!! Now how am I supposed to pay for my yacht!!!

On a side note.....if you wanna marry a pilot foblondie....make sure hes Italian.
you'll never go hungry....you'll laugh all the time and be treated like a princess

Always hitting on the female pilots huh? haha

Darn! I'm caught :D Don't worry Paok, you're still my girl ;)