Word: mergers
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...what he describes as a “change in and loss of personnel” that led to a recent merger with Boston-based Whats Up magazine–which became a supplement in Spare Change– Eck said that the paper has alienated a member of the Buffet family who previously donated $40,000 a year to the publication...
...Detroit Carmakers Cry for Help Amid talk of a merger with Chrysler, General Motors is lobbying federal officials for sizable financial assistance. In addition to the $25 billion in government loans promised to the industry in an energy bill for production of fuel-efficient vehicles, GM's lending arm, GMAC, is exploring ways to access funds in the $700 billion federal-bailout package, while the company reportedly is also seeking cash injections to cover potential merger costs. GM and Chrysler employ more than 200,000 U.S. workers and support many more jobs in the auto-parts and sales industries...
Getting the federal money, however, might be only half the battle in a GM-Chrysler merger. Sources who have been briefed on the private discussions about the merger have indicated Cerberus LLC, the New York City-based private-equity firm that owns 80% of Chrysler, would want a significant stake in any company that emerges from the deal. That would include a number of seats on the board and a voice in deciding who actually manages the new company...
...first things first: Why would a merger even be worthwhile? "I haven't talked to one person who thinks this would work," said Rebecca Lindland of Global Insight. "Both companies would probably be better off taking the government money and going their own way," she said...
DeltaWest? Norelta? Northwest and Delta have announced a merger. It will take up to two years to fold Northwest fully into Delta, so, in the meantime, the airlines will continue to operate separately. You won't lose any award points you've accrued with Northwest, and if you bought your tickets with that airline, you should still go to its gates at the airport to check in. For more info, see the FAQ on the Northwest website...