| Subject: JetBlue to Add Smaller Planes in 2005 |
Author:
toll_brothers
|
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
Date Posted: 03:23:06 11/12/03 Wed
JetBlue to Add Smaller Planes in 2005
Universal Buying DreamWorks Records
Bloomberg News; Dow Jones News
November 12, 2003
JetBlue Airways Corp. executives expect to fly more connecting passengers when the airline adds a new, smaller plane to its fleet in 2005.
JetBlue chief financial officer John Owne said yesterday at a meeting in London that the airline plans to use the smaller planes to connect smaller cities with big airports. The low-cost Forest Hills-based airline only flies Airbus 320 planes that seat 150 passengers. Those are large enough to fly coast-to-coast between big cities. In 2005, the airline will begin taking delivery of new Embraer 190s, which seat 100 passengers.
Morgan Stanley Fires
Research Consultant
Morgan Stanley, the second-biggest securities firm by capital, dismissed its independent research consultant after regulators complained that he had included the firm's employees when he interviewed research providers.
State and federal regulators told the New York firm that consultant Todd Conover could no longer oversee selection of outside research providers. Conover was hired by Morgan Stanley after a settlement of allegations that the firm misled investors with stock research written to lure investment banking clients.
"What we did represented a good-faith effort to get the best independent research product in the hands of our clients as effectively as possible," said Morgan Stanley spokeswoman Diana Quintero. "Once the regulators told us they had a different perspective, we agreed to abide by it."
As part of a $1.4 billion settlement reached in April, 10 Wall Street firms agreed to hire independent monitors and to provide outside stock research to their brokerage clients. The investigation, led by New York Attorney General Eliot Spitzer and the Securities and Exchange Commission, focused on bankers' influence over analysts' stock recommendations.
Conover, 64, said he followed the rules and his decisions would be independent regardless of who attended the meetings with prospective researchers. Spitzer's office and the SEC were closed for the Veterans Day holiday.
Prada Holding Sells
10% of Church & Co.
Prada Holding NV, the owner of fashion brands including Helmut Lang and Jil Sander, sold an additional 10 percent of its U.K. shoemaker Church & Co. to the Equinox private equity fund.
Prada didn't disclose financial details in an e-mailed statement. The luxury-goods maker bought Church for $172 million in 1999 and sold a 45 percent stake to Equinox, an Italian buyout fund, in April. Prada now will hold 45 percent.
"The partnership between the Prada Group and Equinox will pave the way for the new development phase which provides for the continued commercial and industrial growth of the Church's brand worldwide," Prada said in the statement. Prada will continue to manage Church.
The company founded by the Prada family is reorganizing and aims to cut debt to 1.35 billion euros (about $1.17 billion) by the end of the year as it tries to become more profitable. Milan-based Prada has said it may hold an initial share sale as early as next year after shelving an IPO three times since 2001. - Bloomberg News
Agway to Sell Division
To Suburban Propane
Agway has agreed to sell its energy division to Suburban Propane for about $206 million subject to approval by the court overseeing its bankruptcy reorganization.
The Syracuse-based agricultural cooperative signed the deal Monday to sell the assets and business operations of Agway Energy Products to New Jersey-based Suburban Propane Partners. Agway spokesman Stephen Hoefer said a half-dozen companies submitted proposals.
Final approval is subject to a court auction, proposed for Dec. 18, for possible higher bids. Agway estimates net cash proceeds of about $175 million from the sale.
Acclaim to Publish
New InXile Game
Video-game software maker Acclaim Entertainment Inc.'s wholly owned Acclaim Entertainment International unit agreed to publish in Europe InXile Entertainment's first 2004 game, "The Bard's Tale." Financial terms of the agreement weren't disclosed.
In a news release Monday, Acclaim said it will publish InXile's new original role-playing game on multiple console platforms and for the personal computer.
Closely held InXile of Newport Beach, Calif., was founded in 2002 by interactive entertainment veteran Brian Fargo, who is the company's chief executive.
- Dow Jones Newshttp://www.newsday.com/business/printedition/ny-qzli123537890nov12,0,6354884.story?coll=ny-business-print
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
| |
Feedback: 