The American Airlines/US Airways merger moved a step closer to completion, when US Judge Sean Lane signed off on the proposed agreement to merge the two airlines, thereby creating the largest airline in the world, one that will have more than 100,000 workers in its employ. The signing off of the agreement came more than six weeks after Judge Lane heard the motion in a hearing during which he rejected the proposal to hand AMR Corporation CEO Thomas Horton a severance package of $20 million.
The agreement would see Horton step down as CEO of the new company, making way for US Airways CEO Doug Parker to take the reins. An objection to the hefty payout was raised by US Trustee Tracy Hope Davis on the grounds that it violates bankruptcy law limiting severance packages to executive management of bankrupt companies. Judge Lane agreed, noting that another agreement could be reached between Horton and the new post-merger company at a later stage....
Facebook Has Positive First Quarter - 2 May 2013 - Features
Facebook's first quarter results released on Wednesday revealed that its monthly active users rose by 23 percent compared with the same period in 2012. This puts active Facebook users at 1.11 billion, with up to 751 million users accessing the network from mobile devices. An average of 665 million users visited the world's number one social media platform every day in the month of March. First quarter revenue totaled $1.46 billion, reflecting an increase of 38 percent over last year's $1.06 billion...
Pre-Dispute Mandatory Arbitration Challenged - 18 Apr 2013 - Markets
On Wednesday April 17 up to seventeen members of the North American Securities Administrators Association Inc. (NASAA) met with lawmakers in Washington to garner support for ending, or at the very least restricting, the use of pre-dispute mandatory arbitration clauses in client contracts with investment brokers. With these clauses generally being presented as standard procedure, investors may not be aware that they are, in effect, losing their right to use the judicial system in any dispute arising out of agreements entered into with brokers. In other words, they cannot sue a broker who violates the terms of the agreement or neglects to act in the best interests of a client, the investor. Critics of mandatory arbitration clauses note that investors should be given the choice of omitting the clause from an agreement, thereby giving themselves a greater measure of protection should the client/broker relationship go sour...
Solar Energy Surging Ahead as Alternative Energy Option - 4 Apr 2013 - News
A recent Gallup poll revealed that three out of four Americans are in favor of the United States government increasing the use of solar energy, with up to 71 percent of those surveyed being in favor of developing wind power. The expansion of oil production received the thumbs-up from 46 percent, with only 37 percent approving of expanding nuclear power and less than 30 percent approving of increasing coal production as a means of generating energy. While results of the survey revealed trends associated with geographic location and political affiliation, the overall result was in support of solar power as an alternative source of energy. These finding are supported by activity taking place on Wall Street as solar energy costs come down and more home and business owners take advantage of the option to lease the equipment for solar power generation...
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Shares of some top oil companies are up at 1 p.m.: BP PLC rose $.30 or .7 percent, to $43.70. Chevron rose $1.12 or .9 percent, to $125.90. ConocoPhillips rose $.55 or .9 percent, to $64.58. Exxon Mobil ...
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