When does that vote on the TA become final or has it already?

 

December 23rd?

 

After a shaky week, Mesa stock opened strong today at $0.21 / share. At one point in the day, the price slipped to $0.171 but then rebounded sharply to $0.19.

 

It is rumored that Mesa's contract with Delta (and maybe others) states that if they file Ch. 11, Delta can cancel the contract. Does anyone know if this is true? This would be a BIG deal to Mesa's future if it is. Delta is trying to break off from Mesa and this would give them the opportunity. I have also heard that Delta is their most lucrative contract. Mesa actually would be in a lot better financial position if they never started GO! in Hawaii.

 

Here are what some of the mesa stock holders are saying on a message board. Personally I think they have a better chance at wishing more cash from Santa.


<<JO is good at pulling the proverbial rabbit out of the hat. It should be interesting to see how it plays out.>>
Yeah, he really is. It seems unlikely he'll be able to stave-off the debt demands coming due next spring, but it seemed just as unlikely last June and he was able to buy seven months in exchange for three magic beans and a little coin.

If only there were a conscience to go with his talents....

He is an arrogant, lying weasel who'll stop at nothing to win. Currently, I find these traits admirable since I'm holding long with very little to lose.

 

I gotta say I'm with de727 on this one. It's their "train set" get it.

 

This is how it is alll going to play out...

JO has to sell the TA to mesa. And he will be telling the pilots that either they take the TA or they will be out of a job. WWJD?

So the TA will pass, Mesa will be at the bottom once again. Mesa pilot saved their jobs, abiet with a gun to their heads.

JO can then get financing because of the "Industry Leading Contract". Beneficial to management only.

Mesa pays off the law suits with the newly invested money. Goes about getting new contracts because he can now undercut all other airlines with his low labor costs.

JO gives himself a big bonus for saving Mesa and retires.

We all go on hating Mesa till 2014 when they have the guns to their heads once again...

So if i was u and had some extra money, i would buy mesa stock. They are a cockroach and will not die. Double your money by Feb.

 

Sounds about right.

 

I'm not knowledgeable on the bonds in question. I have heard that they cannot be deferred by MAG but in business there are few things which are not negotiable, so the bond holders might agree to a deferment... if it were in their best interests.

I suspect it will come down to who the bond holders are and what collateral they have, if any. If they have no collateral, it might be in their best interest to not force mesa into liquidation, and pray that they can pull out of this mess someday.

If it is in fact bombardier and they have collateral (perhaps 900's) they may prefer to force the default, which will allow them to take their airplanes back for resale (900's have market value even today).

Mesa didn't treat me that badly either...for a while. When they eventually got around to abusing me, I quit. They will get around to you too if you stick around long enough.

LAMA is MUCH, MUCH better than where you are now. You should ALWAYS be looking for another job while employed at mesa. The current financial crisis might justify considering less-desireable jobs than you would otherwise.

GGood Luck

 

MESA Professional Airline Pilots,

The possibility of MESA's demise is a consideration when voting for or against this TA but not in the way you think. The airline will continue or collapse depending on the quality of its operations alone. Regardless of how they are treated the employees will always do their very best given the required training, support, and tools required. That support is entirely in the hands of management.

Voting yes for this TA is simply a vote of confidence for the way management has conducted itself in the past. The vast majority of people in this company are very hard working individuals who have continued professionally under incredibly harsh working conditions and who will continue do their very best. The demoralizing management practices of the past will only continue if you choose to accept them. The results of requiring the employees to continue under these conditions are that management will eventually exhaust all of its resources. If you want to continue understaffed, overworked, undertrained, and under appreciated then vote yes. If you want to send a clear message that now is the time to make changes and bring some integrity to your profession then vote no.

The only way this company will survive is if we demand better. Demand better management, demand better working conditions, demand better training, demand better maintenance, and demand better support in the field. With the appropriate contract and under the proper leadership this company will easily survive. To continue on the old path we've been on has an obvious conclusion.

DEMAND BETTER! DON'T BE AFRAID! VOTE NO!
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"A wave of panic passed over the vessel, and these rough and hardy men, who feared no mortal foe, shook with terror at the shadows of their own minds."
Sir Arthur Conan Doyle