I have exactly the same issue this week with a 3 month old Integral 16GB memory stick. The files on the stick could be read, but it went into read-only mode exactly as you describe. There was data copied on it from a Windows machine, but I had also subsequently been able to copy files onto it using the Mac. Then it went read-only. It is FAT32. Only option in Disk Utility was Verify, which said it needed to be repaired, so selected Repair; the only result was that I couldn't then see any files on the stick, (although the used/available figures on Get info remained the same). I'm not worried about the data on the stick, but I now have a 3 month old 16GB memory stick that is unusable. Alanah's suggestion above to Erase does not work, as Erase is greyed out. The stick also appears as read only on a friend's MAc, and no the stick does not have any switch to set it as read-only.
I also have rather different problems with another memory stick. It also was FAT32 and had data on it from a Windows machine
- first of all it shows as two items in Finder - one a named drive (with data), second a "NO NAME" drive (with no data). They need to be ejected separately. Not an issue as such, but it is worrying.
- secondly I've copied files onto the stcik from the Mac, then deleted some files from it to make more space, but the space is not freed up from the deletions.
The only common issue between these two drives is that I tried (inadvertently) to copy large files onto them and got an error (as FAT cannot handle files about 4GB).
What is going on with memory sticks on a Mac ? I've only had the Mac a month and so far been very pleased with it, but this is worrying as I want to use memory sticks for short term backups of important data, and I now have 2 sticks I can't use. Buying new sticks until they stop working doesn't seem a very sensible solution to me !
If anyone can help with the above, I would be very grateful.