Airline industry faces break point as costs soar
Washington AP reports several major airlines like US Airways Delta and United struggle with high fuel costs dwindling cash reserves and employee unrest while selling cheap fares. Analysts say restructuring may lead to a healthier industry long term though some carriers may fail. Southwest and JetBlue are cited as cost-efficient competitors reshaping the market.
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Disney chief Eisner to retire as CEO in 2006
Michael Eisner will step down after more than two decades as Disney CEO when his contract ends on September 30, 2006. He launched Disney’s modernization, but faced rising pressure amid stock decline, shaky ABC ratings, and a boardroom revolt led by Roy Disney and Stanley Gold.
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Anadarko sells 30 percent of oil fields in asset shedding
Anadarko Petroleum Corp plans to divest 30 percent of its worldwide oilfields to Merit Energy Co and partners for 850 million in cash plus buyer interests. The deal covers about 108 million boe proved reserves and 38,000 boe per day across 180 fields in multiple states, closing Dec 1.
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Ford recalls 234208 Econoline vans over heat risk
Ford Motor Co recalls 234,208 Econoline vans from 2003 and 2004 models due to overheating anti lock brake units that could spark fires. No accidents or injuries reported. Vans built after November 2003 unaffected. Regular brakes remain functional if ABS malfunctions.
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Ford
Detroit
Ford Motor Co
Glenn Ray
Ray
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