In recent news, senior management has now decided to convert their owed back pay into preferred stock in lieu of a cashable paycheck. Management notes this action as a sign of their commitment to the company, and over the past several months, the executive team has only received a fraction of their full salaries.

Precision Castparts (PCP) has been on a nasty slide down to $100 since tapping $130 when it reported earnings on May 6, 2008. Stocks who supply products going into commercial airlines, including PCP, continued to be sold off. Investors seem spooked by recent fleet downsizing by the major U.S. carriers on the back of high oil prices and struggling consumers.

Article analyzing Pinnacle Airlines (PNCL), a stock Monish Pabrai increased his investment in during Q4.