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’Just rip ‘em off LLC
By way of a resuscitated campaign to have Ben Stein sacked from his various writing and promotion jobs, Felix Salmon at Reuters discusses a story about US consumers being deceived by dodgy online sign-up pitches and leads us to this: the relevant full blown staff report for Senate commerce committee chairman Jay Rockefeller.
United, US Airways suspend talks
Plans to merge United Airlines and US Airways were suspended – for now – when UAL Corp chief executive Glenn Tilton told his opposite number, Doug Parker, on Thursday that United is very near an alliance agreement with Continental Airlines,
UAL, US Airways chiefs to meet
The chief executive officers of United Airlines and US Airways will meet Friday to discuss a possible merger as rising fuel prices add to pressure for a tie-up, reports Bloomberg. United’s Glenn Tilton and US Airways’ Doug Parker will try to make progress on labour,
A turbulent week for US airlines (and their investors)
On Monday, JP Morgan’s airline team engaged in a bit of Meredith Whitney-esque headline-grabbing. Not only would the airline industry lose $7.2bn this year, they said, but there would also be blood – and bankruptcies:
JP Morgan on US airlines: “There will be blood”
Maybe it’s the Meredith Whitney effect, maybe it’s the stress of not knowing if you’ll still have a job in the morning, but analyst notes have taken on a certain sense of drama in recent months.
Take the latest forecasts from JP Morgan’s airline team,
US Airways abandons hostile bid for Delta
US Airways has abandoned its quest to take over bankrupt rival Delta Air Lines after a three-month campaign that shook the US airline industry and raised hopes of consolidation among the largest carriers.
US Airways may up Delta bid by $1bn
US Airways is willing to increase its hostile takeover offer for Delta Air Lines by $1bn under certain conditions as part of a last-ditch effort to win support from Delta creditors, reports the Wall Street Journal,
Creditors increasingly sceptical of US Airways’ Delta bid
US Airways hostile $10.1bn bid for Delta appears to be losing traction among creditors who will determine the fate of the Atlanta airline, the Wall Street Journal reported, citing people familiar with the matter.
Northwest steps into Delta fight
The battle for control of Delta Air Lines intensified yesterday as US Airways boosted its hostile offer by a quarter and Northwest Airlines emerged as a potential rival suitor for the third-largest US carrier.
Delta creditors hire ex-Continental chief to advise on strategy
Delta’s unsecured creditors plan to hire former Continental chairman Gordon Bethune as an adviser to evaluate the competing claims for control of the third-largest US airline. The official committee and an ad hoc group of bondholders are examining Delta’s plan to emerge from bankruptcy protection in the second quarter of next year and the hostile $8.3bn merger plan from US Airways.
Delta unveils plan to emerge from bankruptcy protection
Delta formally rejected US Airways’ unsolicited merger proposal yesterday and unveiled a standalone restructuring plan acknowledging interest from other potential investors. It said it aimed to emerge