You're right I was thinking of a day trade. A buy and sell within the same day of 14,600 shares. Old habits :) Lesson still remains though. More power too you though you're doing great. If you manage to make a little off it find you a nice dividend investment like BAC or even put your money into an ETF and just let her ride!

Expressjet Hldgs Inc (XJT) newly added by Weil Company Inc

And according to their website, 27.5% are buying, 25% are neutral, and 47.5% are selling. Also, there were 10 new funds buying and 17 liquidating.
http://www.mffais.com/xjt.html

I'm a big fan of Sherwin-Williams stock. I currently have 1034 shares paying an average dividend of $1.30 to $2.10/share since I started purchasing their stock back in 2000 when I was employed by SW (Jun 1999 -Jun 2004) as a Professional Coatings rep (Industrial Coatings rep for most of my Sherwin career). At one time I had just shy of 3000 shares (most of them I purchased for between $15-$20/share) but I sold almost 2/3’s of the lot at $68.21/share then reinvested into other areas.

If this XJT gamble pays off I intend on reinvesting it as well…………………………………………….into my RV8!!!!!!!!!! :D

ExpressJet Reports Expiration of Tender Offer and Notes to be Repurchased

HOUSTON, Aug. 1 /PRNewswire-FirstCall/ -- ExpressJet Holdings (NYSE: XJT) today announced the expiration and results of its tender offer with respect to $128.2 million aggregate principal amount of its 4.25% Convertible Notes Due 2023.


The Paying Agent, The Bank of New York Mellon Global Corporate Trust, reported that $58.9 million in aggregate principal amount of outstanding notes had been validly tendered for purchase as of 5:00 P.M. Eastern on July 31, 2008. As a result and pursuant to the terms of the tender offer, the company will issue 161,494,295 shares of common stock in payment of the repurchase price for the principal amount of the notes validly tendered and to settle accrued and unpaid interest due August 1, 2008.


Following the completion of the tender offer, the company will have $69.3 million aggregate principal of its 4.25% Convertible Notes due 2023 remaining outstanding. Noteholders of record on August 2, 2008, will automatically receive the benefits of the supplemental indenture that becomes effective the same day. From August 2 forward, the notes will be referred to as 11.25% Convertible Notes due 2023.


The company will report its second quarter financial results and provide a further strategic update on Wednesday, August 6, 2008, at 10:00 a.m. EDT (9:00 a.m. CDT).


A live webcast of the call will be available at ExpressJet. To access the conference call by phone, dial (866) 638-3022 approximately 10 minutes prior to the scheduled start time and ask to join the ExpressJet call. International callers should dial (630) 691-2765.

That's some massive dilution. It looks like the market already factored that in though, and is just happy to avoid BK for now. Anyone heard of CAL wanting to buy XJT as mentioned on the Yahoo boards?

No BK or if anyone attempts to purchase XJT then..................Chaaaaaa Chinggggg!

Shares fell to .273 from .36 after the massive dilution but are now holding steady between .32 and .33. Looking good.

ExpressJet deal with Continental could prove an economic challenge
By Lori Ranson

US regional operator ExpressJet admits that achieving profitability in its recently-negotiated deal with long-term partner Continental Airlines could be a challenge without significant cost improvements.

ExpressJet in June reached a new agreement with Continental effective last month that includes lower block hour rates charged by ExpressJet to its major partner. In exchange restrictions on ExpressJet flying for other carriers are lifted, and the regional is allowed to return some aircraft back to Continental that were cut from their previous capacity agreement in 2007.

During an earnings call earlier today ExpressJet CEO Jim Ream said the carrier “gave significant economic concessions to Continental Airlines in order to secure a long term transaction”.

Continental made it “pretty clear that the agreement was not workable the way it was today and they were going to terminate if we were not able to reach some positive outcome”, Ream explained.

Ream states that the economic benchmark set by Continental in the negotiations was possibly a marginal bid from another operator that already had business in place.

The chief executive believes it “is really going to be a stretch” for ExpressJet to be successful under the new agreement, and stresses the need for unit costs improvement “in order for us to have some modest amount of income”.

ExpressJet has what Ream deems as a “reasonable shot” at hitting that cost improvement but as a result of the new deal predicts the carrier will earn less than most of its peers in the industry on a “per tail basis”.

Fuel prices in particular are placing greater pressure on smaller aircraft, says Ream. The majority of aircraft ExpressJet flies on behalf of Continental are 50-seat Embraer ERJs.

“It obviously doesn’t make sense for them [Continental] to lose hundreds of millions and then for us to make tens of millions with an airplane that’s supporting that network,” Ream reasons.

To achieve the necessary unit costs improvements ExpressJet is holding discussions with its unions and suppliers. Ream says the carrier hopes to conclude those talks within the next 45-60 days.

“If we’re not successful in those conversations than I’m not sure we have a sustainable business,” warns Ream.

On top of less favorable economics from the Continental deal, ExpressJet faces a reduction in available seat miles (ASMs) during the fourth quarter. “It is somewhere in the neighborhood of a 30% drop off in capacity,” notes Ream.

The CEO cautions that, “Above and beyond getting a unit cost improvement we also need to get a dollar for dollar in expense savings for all those ASMs.”

That situation presents a challenge “given how quickly those ASMs are disappearing from us”, Ream notes.

Earlier today ExpressJet explained it needed $36 million in wage and benefit concessions, and on 15 July the carrier initiated a cut in those areas for management and clerical staff totaling $10.8 million.

ExpressJet is ending its branded flying operations on 2 September, and plans to fly 30 aircraft its charter operations on lower lease rates from Continental.
Source: Air Transport Intelligence news

ExpressJet deal with Continental could prove an economic challenge-08/08/2008-Flight International

Ugh. So what's the point of working again? Pay, benefits.. oh snap!

Is the union taking pay concessions or is everyone still sticking with the "I'd rather be on the street than take a pay cut" attitude? Who's leaving if they ask for a pay cut? Those here who said they would could save the jobs of a few on the "f" list. Will be interesting for sure. Best of luck to all. Keep in mind the fable of the oak and willow tree.

We saw how well "negotiating" online worked for us during Skywest's attempt to buy us out. I am not negotiating for a single XJT pilot, however the following is promised:

Personally, I am prepared to quit as soon as a pay reduction is finalized. The vast majority of the work group is of the same opinion, discussions do not favor pay reductions and/or benefit reductions. This is not an empty promise on my part, as I signed pre employment paperwork this afternoon as a "just in case" proposal. In all likelihood I will join my new employer anyway - 5 to 7 years at $35K isn't rational/reasonable income.

...and ALPA's 401K stunt has gone over like a turd in the punchbowl. Too bad, as XJT has been a superior experience with a great management and pilot relationship.