MAG stock closed at a little over 67 cents a share today. How much lower will it go before they declare Chapter 11?
Read this very interesting column by Holly Hegeman (http://www.planebusiness.com/bestoft...7/bestof.shtml), owner of the Plane Buzz blog for her critique of the MAG Board of Directors and how their lack of decisiveness (this even before the Aloha bankruptcy) is going to spell the end of the company. Of course, she may have a personal vendetta against JO because he slapped her with a libel suit and tried to shut her blog down not too long ago.
She also relates the story of how the sleeping go! pilots was first uncovered:
"Then there is the issue of Mesa pilots leaving the airline at historically high rates. The airline's continued high cancellation rates tend to confirm this problem -- suggesting that the airline is having problems putting together enough crews to man its contracted flights.
This problem shot to the public surface a little more than a week ago, after a Mesa pilot apparently quit, then turned over his logs and flight schedules to a television reporter based in Hawaii. This reporter was the same reporter who broke the story concerning the two go! pilots who apparently fell asleep while piloting their aircraft recently....
"...Apparently, they also don't have a problem with their CEO losing control with journalists either. Stacy Loe, reporter for a television station in Honolulu apparently called the airline for comments concerning the go! airliner that recently strayed off course. She was the one who broke the story, and she was following up on reports she had received concerning problems with Mesa scheduling and the issue of pilot rest. Jonathan personally talked to her.
According to Ms. Loe, "Ornstein threatened to sue if I went ahead with it [the story]. Swore at me several times. Then said the stuff about threatening a lawsuit is off the record. Had no comment to my inquiries and promptly hung up..."
Read this very interesting column by Holly Hegeman (http://www.planebusiness.com/bestoft...7/bestof.shtml), owner of the Plane Buzz blog for her critique of the MAG Board of Directors and how their lack of decisiveness (this even before the Aloha bankruptcy) is going to spell the end of the company. Of course, she may have a personal vendetta against JO because he slapped her with a libel suit and tried to shut her blog down not too long ago.
She also relates the story of how the sleeping go! pilots was first uncovered:
"Then there is the issue of Mesa pilots leaving the airline at historically high rates. The airline's continued high cancellation rates tend to confirm this problem -- suggesting that the airline is having problems putting together enough crews to man its contracted flights.
This problem shot to the public surface a little more than a week ago, after a Mesa pilot apparently quit, then turned over his logs and flight schedules to a television reporter based in Hawaii. This reporter was the same reporter who broke the story concerning the two go! pilots who apparently fell asleep while piloting their aircraft recently....
"...Apparently, they also don't have a problem with their CEO losing control with journalists either. Stacy Loe, reporter for a television station in Honolulu apparently called the airline for comments concerning the go! airliner that recently strayed off course. She was the one who broke the story, and she was following up on reports she had received concerning problems with Mesa scheduling and the issue of pilot rest. Jonathan personally talked to her.
According to Ms. Loe, "Ornstein threatened to sue if I went ahead with it [the story]. Swore at me several times. Then said the stuff about threatening a lawsuit is off the record. Had no comment to my inquiries and promptly hung up..."
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