Word: mergers
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Earlier this month, instant messaging (or IM for short) made headlines when it became the final sticking point in the biggest merger in history, the deal that joined AOL and Time Warner (proud owner of this magazine) in corporate matrimony. The Federal Communications Commission wouldn't approve the union without special conditions regarding AOL's IM policy. Why the fuss? After all, some nonsophisticates argue, IM is just a kid's toy--e-mail for the Dawson's Creek crowd...
...matter what happens, no team is going to get exactly what it wants (except Dallas). In the 1970 AFL-NFL merger, Pittsburgh, Cleveland [the present-day Baltimore Ravens], and Baltimore [the present-day Indianapolis Colts] all had to be coaxed to switch into the AFC. Once that was taken care of, the NFC alignment was determined by picking one plan at random out of five possibilities...
...first shrinking a little. American would pay $1.2 billion to United for about 20% of the assets of US Airways, the No. 6 carrier, which United was trying to acquire before federal regulators delayed that $4.3 billion deal. By unloading assets, United figures to win antitrust approval for the merger. American would also shell out $82 million for a 49% stake in DC Air, a Washington-based start-up that Robert Johnson, founder of Black Entertainment Television, is carving out of US Airways...
...mechanics and ground-crew workers runs out. Says John Ward, president of the Association of Professional Flight Attendants: "It is ironic that American can find more than $5 billion for these various assets but can't invest in its best assets, its employees." In a post-merger era, a walkout at American could instantly ground one-fourth of U.S. air travel...
...Justice Department's merger review could come at an awkward time for American, which is preparing to defend itself in a major predatory-pricing trial. American is battling a 1999 Justice complaint accusing it of driving smaller rivals out of its Dallas-Fort Worth hub by illegally slashing ticket prices and saturating the market with new fights...