13
Feb/12

American Airlines’ parent AMR posts $1.1 billion fourth quarter loss

by Kelly Long under Business Advisor

DALLAS — AMR Corp., the parent of American Airlines, said Wednesday that it lost $1.1 billion in the fourth quarter as it wrote down the value of planes and other property and paid more for jet fuel.

The company, which filed for bankruptcy protection in November, said that the results compared with a loss of $97 million a year earlier, when AMR still hoped to avoid bankruptcy by cutting costs.

The most recent loss included $768 million in special items, including $725 million from write-downs of aircraft that the company had announced two weeks ago. It also took a $43 million hit as it changed assumptions on recognition of revenue in its frequent-flier program.

Excluding special items, AMR said it would have lost $209 million, compared to an after-items loss of $69 million a year ago.

American is the nation’s third-biggest airline, and it has presented a business-as-usual face since becoming the latest in a long string of U.S. airlines to file for bankruptcy protection. E Read more…

American Airlines, Fourth Quarter, Quarter Leave a Comment

11
Feb/12

With Pringles, Kellogg looks to expand overseas

by Jamie Price under Business News

Kellogg is hoping Pringles will satisfy its craving for a salty snack.

The food giant is best known for its lineup of sweet breakfast items, including Frosted Flakes and Eggo frozen waffles. But on Wednesday, it became the world’s second-biggest savory snack maker behind PepsiCo Inc.’s Frito-Lay with a $2.7 billion deal to buy the potato snack brand from Procter & Gamble.

The addition of Pringles bolsters Kellogg Co.’s cupboard of salty snacks such as Cheez-It and Keebler’s Club crackers. It also positions the company to expand at a time when the appetite for on-the-go foods is growing worldwide, particularly in emerging markets like China and India.

“When you have people moving to the cities and becoming urbanized, they’re less likely to eat foods they grow themselves,” said Tom Graves, an analyst for Standard & Poor’s who follows Kellogg. “There’s a bigger opportunity to sell packaged foods.”

Kellogg, which gets most of its revenue from North America, is looking for Pringles to help it expand into a global snacking company.

Read more…

Kellogg, Kellogg Looks Leave a Comment

9
Feb/12

Nucor reports higher earnings

by Kelly Long under Business Advisor

Nucor Corp. today reported higher fourth-quarter and full-year earnings for 2011 compared with 2010, citing an uptick in steel prices in December and increased shipments.

The Charlotte-based steelmaker reported consolidated net earnings of $137.1 million, or 43 cents per diluted share, in the fourth quarter, compared with a net loss of $11.4 million, or 4 cents per diluted share, for the same period a year earlier. For the full year, Nucor reported net earnings of $778.2 million, or $2.45 per diluted share, compared with 2010 earnings of $134.1 million, or 42 cents per diluted share.

Nucor recorded a noncash gain of $29 million, or 6 cents per diluted share, in the fourth quarter to correct an actuarial calculation related to the medical plan covering certain eligible early retirees.

Net sales in the fourth quarter rose 25 percent over the same period in 2010, to $4.83 billion from $3.85 billion, and exceeded expectations of $4.77 billion of analysts polled by Thomson Reuters.

Read more…

Earnings Leave a Comment

8
Feb/12

Regency Window in Twinsburg is closed

by Jamie Price under Business News

Regency Window Co. confirmed Thursday that it’s out of business, and now Dorothy Harris and dozens of other customers wonder if they’ll ever see their money again.

Harris gave Regency $980 in December as a down payment on five replacement windows for her duplex in Cleveland. Her check was cashed, but the installers never showed up.

Twinsburg-based Regency abruptly stopped answering its phones after Jan. 13 and its future was unclear. A company attorney said Thursday that Regency had defaulted on more than $4 million in loans and that its assets had been seized by its secured lender, Roynat Business Capital of Charlotte, N.C.

“The bank has got to figure out what to do with those customers’ issues,” said attorney Roger Stewart. “The bank has been told that there’s customers who have paid deposits and they’re waiting for their windows to be installed.”

Consumers should contact the Ohio attorney general’s office with complaints, Stewart said.

Read more…

Regency Window, Window Leave a Comment

5
Feb/12

Investors face more than 70 pct loss in Greek deal

by Sean Bell under Business News

Investors participating in a deal to slash Greece’s massive debt would face an overall loss on their bond holdings of more than 70 percent, a person involved in with the negotiations said early Tuesday.

European leaders at a summit in Brussels said a final debt deal could be signed off in the coming days, together with a second multibillion-euro bailout package designed to save the country from a potentially disastrous bankruptcy.

Athens and representatives of investors holding Greek government bonds over the weekend came close to a final agreement designed to bring Greece’s debt down to a more manageable level. Without a restructuring, those debts would swell to around double the country’s economic output by the end of the year.

If the agreement works as planned, it will help Greece remain solvent and help Europe avoid a blow to its already weakened financial system, even though banks and other bond investors will have to accept big losses.

The person involved in the talks said Monday that the more-than 70 percent loss was the result of cutting the bonds’ face value in half, reducing the average interest rate to between 3.5 per cent and 4 percent and pushing repayment of the bonds 30 years into the future.

Read more…

Deal, Greek Deal Leave a Comment

24
Jan/12

W. Hartford office space bucks pricing, occupancy trends

by Jamie Price under Business News

When Robert Laraia’s wealth management firm, NorthStar Wealth Partners, grew too big for its Newington office space in 2008, he searched several nearby towns and cities for a new home.

Downtown Hartford was in the mix, but Laraia and his team eventually settled on space at West Hartford’s Town Center office building on South Main Street, located near Blue Back Square and West Hartford Center.

Laraia said the town’s affluent demographics and the buzz created from the vibrant retail and restaurant scene nearby made the location attractive.

“We saw a lot of upside in growing our business here,” said Laraia, who also lives in town. “It’s really the address to be.”

While many of Greater Hartford’s cities and towns continue to struggle with high office vacancy rates, West Hartford has been a bright spot in the market, largely maintaining its ability to attract and maintain tenants at a time when many employers have pulled back on office space in recent years.

The offic

Read more…

Office Space, Space Leave a Comment

Page 6 of 100« First...45678...203040...Last »

  • Categories

  • Similar Posts

  • Tag cloud

    Explosion Unemployed Apply Business Trends Tee Shirt Business Roth Ira Business Opportunities Business Microsoft Free Connie Lai Grand Opening Microsoft Win Trends Shirt Business Opening Lai Best Business Identity Theft Oil May Tee Shirt Unemployed Use Cart 2005 Explosion Ebay Budgeting Small Business Trends Spike Bankruptcy Identity Theft News Banks Corporation Small Business Sandra Bullock Profits 26 Oil Saving Surprise Appearance News Shopping Cart Saving Money Profits 2010 Global Sources Theft News Best Business Opportunities

  • Archives

  • Recent Comments

    • © All Rights Reserved. People Make Business