Mesa Air says Big Sky is in default on leases MAIR Holdings Inc. said that Mesa Air Group Inc. notified its Big Sky Transportation unit that it's in default on $4.8 million owed for leasing 10 aircraft from Mesa. Big Sky, which stopped flying March 8, has been making payments to Mesa, and still owes $4.1 million, MAIR said Thursday in a regulatory filing. Minneapolis-based MAIR said that it asked a federal court in Montana to order that any funds Mesa draws from a $1.9 million letter of credit linked to the leases be placed in a trust pending further legal action.
Local business briefs
April 11, 2008 at 3:14AM
BLOOMBERG NEWS
Famous Footwear walking out on Madison After nearly a half-century of calling Madison, Wis., home, Famous Footwear is moving to St. Louis, its corporate parent Brown Shoe Co. said. Brown Shoe said the 270 Madison-based employees will be offered jobs and relocation assistance, and that those who don't want to relocate will get severance packages. Famous Footwear has more than 1,000 stores nationwide. It's been based in Madison since its founding in 1960.
ASSOCIATED PRESS
Wisconsin wants Sirius-XM merger blocked Wisconsin Attorney General J.B. Van Hollen wants the Federal Communications Commission to block a merger of the nation's only two satellite radio companies. The U.S. Justice Department decided this month to allow Sirius Satellite Radio Incorporated's proposed $5 billion buyout of rival XM Satellite Radio Holdings Inc. to go forward. The FCC still has to sign off. Van Hollen, a Republican, sent a letter Monday to FCC Chairman Kevin Martin and Wisconsin's congressional delegation complaining that the deal would eliminate competition in the satellite radio industry, drive up prices for services and reduce channels available to Wisconsin listeners.
ASSOCIATED PRESS
about the writer
Quarterly profit of $6.06 billion at the Minnetonka-based company beat analyst estimates on a per-share basis as revenue grew 9% over last year.
