Archive for June, 2009
Legacy airlines hike airfare prices across the board
American Airlines raised their prices on domestic fares yesterday. Today, the four remaining legacy airlines have followed suit.
US Airways was the last carrier to match the airfare hike Thursday. American Airlines increased prices Wednesday on domestic fares $10 to $20 round-trip on “a significant number of U.S. routes,” says Rick Seaney, CEO of Farecompare.com, in [...]
Sears Tower…err…Willis Tower goes “green”
The Sears Tower has plans to reduce the 1,450-foot building’s electricity consumption by 80 percent and water usage by 40 percent. In the process the historic building’s name will also be changed to the Willis Tower after a new deal with its new tenant Willis Group Holdings.
Here’s how they intend to get all the savings:
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Republic Airways to buy Frontier Airlines
Over a year after filing for Chapter 11 bankruptcy, Frontier Airlines has found a buyer. In a $108.75 million deal, Republic Airways will buy Frontier so it can exit bankruptcy protection.
Frontier filed for bankruptcy in April of 2008 and at the time was one of the leading U.S. regional carriers. Frontier blamed a combination of [...]
GM sending more employees home
GM spokesman, Tom Wilkinson, told Bloomberg that GM will be offering retirement packages for up to 4,000 non-union workers this week. Should all 4,000 leave, that will cut 15% of GM’s current work force. GM also plans to shed about 35% of its executive workforce, which today stands at about 850 top level managers.
Those who [...]
As US automakers head south, will pick-up buyers go east?
As General Motors and Chrysler continue to cut their dealer ranks, the door is opening for many other competitors that previously had been considered “unlikely”.
America, meet Indian-carmaker Mahindra.
Actually, if you live in a farm town, Mahindra may not be a word so foreign. Mahindra is actually one of the biggest selling tractor makers in the [...]
Huntsman Corp. gets settlement a week in to trial
After a week of litigation, Huntsman Corp. settled with the two European Banks for $1.7 billion in cash and financing.
Huntsman had been after $4.65 billion in damages, accusing Credit Suisse Group and Deutsche Bank of intentionally trying to spoil an acquisition by Hexion Specialty Chemicals. The banks had said they didn’t provide financing for the [...]
Ben and Jerry’s Sundae give away
Starting yesterday and running all the way through August, ice cream lovers can head to Ben and Jerry’s to get their free “Sundaes on Mondays”. Buy a Sundae from Ben and Jerry’s on any Monday and you’ll get a second free. More info here.
