Remember those agreements Mesa reached late last month to restructure the $30 million it owes on bonds that come due
tomorrow?
Yeah, um, about that. Not so much. In response to "a regulatory inquiry," Mesa has notified the other parties to those agreements that it intends to rescind the agreements... and that they probably won't hear from it again until at least the day
after tomorrow.
http://www.bizjournals.com/pacific/s...9/daily11.html
http://uk.reuters.com/article/market...46553220090209
http://news.prnewswire.com/DisplayRe...4968949&EDATE=
Oh, and by way of comparison to that $30 million in debt, right now the stock market capitalization of
MESA is about... $2.48 million.
So... what happens tomorrow?
Oh, wait, wait, let me guess, it involves Jonathan Orenstein, 2 checked bags of hundred-dollar bills, and a first-class ticket to somewhere far, far outside U.S. jurisdiction... am I close?
Hey Slippahs, pass the popcorn, wouldja?