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Investments Markets National

Mesa Airlines under investigation over “possible violations of federal securities laws”

Mesa Air Group, Inc. (NASDAQ : MESA), an American airline company headquartered in Phoenix and a holding company for Mesa Airlines is reportedly under investigation over its third quarter 2019 financial results. Following is the press release from Rosen Law Firm on this matter. On August 9, 2018, Mesa conducted its initial public offering (“IPO”), […]

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Industries Investments Markets National

United Airlines CEO in the letter to employees:”we expect demand to remain suppressed for months, possibly into next year”

United Airlines (NASDAQ:UAL) a major American airline headquartered in Chicago, is taking the measures to cut the spending caused by the coronavirus lockdown. In the Letter to employees from March 27, 2020 United CEO Oscar Munoz together with President ,J. Scott Kirby talks about state of the economy, compares the situation with 9/11,promises not to […]

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Entrepreneurs Healthcare Investments Markets National

Bill Gates from his 66,000 square feet mansion:”We can’t restart the economy soon” because “there are piles of bodies out there”

Bill Gates, the co-founder of Microsoft and a well known philanthropist, shared his view on risks involved in restarting the economy. Bill Gates oposed the idea during a TED interview with Chris Anderson, saying that “there really is no middle ground, and it’s very tough to say to people, ‘Hey, keep going to restaurants, go […]

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Eurozone Industries Investments Markets National

Warren Buffett takes another blow as Heinz Ketchup sales are going down due to stay-at-home orders

Back in February Warren Buffett complained that his Berkshire Hathaway Inc overpaid for merger that created Kraft Heinz Co . With Airlines being his biggest fall this March, looks like Kraft Heinz stocks (KHC) are going down as well. At least if we are going to trust the latest report price target from Berenberg. German […]

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Industries Investments Markets National

NexTier Oilfield Solutions to cut its capital spending 50%, due to difficult market conditions

HOUSTON, March 23, 2020 / — NexTier Oilfield Solutions Inc. (NEX) today announced several immediate strategic actions being taken in response to current market conditions to prioritize financial strength and cash flow, including a significant reduction in its 2020 capital expenditures program and additional streamlining of its cost structure. NexTier is taking actions to significantly […]

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Entrepreneurs Industries Investments Markets National

Warren Buffett now owns 10% of Delta Air Lines, United,American and Southwest. So why would they need a bailout?

According to recent filings with the Securities and Exchange Commission, Warren Buffett’s Berkshire Hathaway holds a big chunk in several airlines: more than 50 million shares of Southwest , 42 million shares of American Airlines Group, 21.9 million shares of United Airlines, and 71.8 million shares of Delta Air Lines after buying almost a million […]

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Industries Investments National

Boeing prepares for bailout,suspends dividend, buybacks, CEO pay

CHICAGO, March 20, 2020 /PRNewswire/ — The Boeing Company (NYSE: BA) today announced several decisions to support the company as it navigates through the COVID-19 pandemic while ensuring the company is positioned for the industry’s recovery. Decisions include: CEO Dave Calhoun and Board Chairman Larry Kellner will forgo all pay until the end of the […]

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Industries Investments National

Delta Air Lines Internal Memo: We are burning $50M in cash a day

ATLANTA, March 20, 2020 – Delta Air Lines today announced it has entered into a $2.6 billion secured credit facility with JPMorgan Chase Bank, payable in a single installment on the maturity date on March 16, 2021. The goal is to enhance the company’s liquidity as it manages through an unprecedented decline in air travel […]

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Asia Entrepreneurs Investments Markets

First ever Warner Bros-branded hotel on Yas Island, Abu Dhabi

In a collaboration between Miral and Warner Bros, the first Warner Bros-branded (WB) hotel will be opened on Yas Island, Abu Dhabi in 2021. The President of Warner Bros. global brands and experiences said: “Following the successful debut of Warner Bros. World Abu Dhabi, we are thrilled to expand our presence in the region with […]