Most companies will screw shareholders in these situations. Look at Wamu, they have billions over thier liabilites and instead of giving it to equity they are trying to give it to JP Morgan, lol. I think most companies see shareholders as their enemies.
And look at Visteon & WaMu. Both companies have said that shareholder equity will be zero. The former jumped to 1.60 and is still well over $1, and the latter is at .17, even though it's coffin is halfway down the aisle and the funeral dirge is playing (I think it peaked near .60). Both chugged along for months under a dime. Things should move along a bit quicker here. Look at the Visteon chart.....a great MOR/Delta settlement/new code-share agreement could do the same for Mesa. Limited long-term downside risk at these levels.
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