On October 14, 1998, about 1700 central daylight time, a Beech C-90, N438SP, registered to Southern Pipe & Supply Company Inc., operating as a 14 CFR Part 91 corporate flight, crashed on landing at Key Field, Meridian, Mississippi. Visual meteorological conditions prevailed and no flight plan was filed. The airplane sustained substantial damage. The commercial-rated pilot and airline transport- rated copilot reported no injuries. The flight originated 30 minutes before the accident. The pilot stated they conducted the descent arrival and before landing checklist before starting the VFR approach for runway 22 at Key Field. He verified the landing gear was in the down position. The airplane touched down on the main gear, and went into reverse when the nose gear touched down on the runway. He noticed the left wing tip started to dip down, the gear handle was red, the power levers were advanced, and the left propeller collided with the runway. The airplane veered to the right off the runway colliding with a taxiway sign. According to the FAA, "tower personnel stated the gear was down on final however the aircraft was hot (fast) and landed long on the runway some estimated 1000 to 1500 feet down the runway." "Mr. Howard stated the aircraft bounced into the air and that he applied power to go around but it was to late." The pilot further stated that the landing was normal and he noticed that the left wing dropped and then the gear collapsed. Information gathered at the crash site indicated the airplane landed long and fast. The runway is 4,586 feet in length. The airplane came to rest 1,170 feet from the first propeller strike located on the runway. The FAA inspector stated, "It appears that the landing gear was retracted by the pilot instead of the flaps in an apparent attempted go after a bounced landing." See FAA inspector statement. Examination of the landing gear assembly by Dean Aircraft Service Inc., in the presence of the FAA revealed no evidence of a precrash mechanical failure or malfunction.