The Daily Docket: American, US Air Announce Merger
AMR Corp. ’s American Airlines and US Airways Group Inc. formally announced a merger plan, The Wall Street Journal reports. Here’s an Associated Press timeline of American’s history.
Patriot Coal Corp. is seeking bankruptcy-court approval to pay nearly $7 million in bonuses to the employees it is counting on to shepherd it through an “increasingly difficult” time. Read the Daily Bankruptcy Review article here.
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Bernard Madoff’s bankruptcy trustee wants to recoup $505 million more for victims of Madoff’s Ponzi scheme, WSJ reports.
The AP reports on the arrests of 10 people protesting in St. Louis over Patriot Coal.
Regulators are defending the implementation of the Dodd-Frank Act, Bloomberg reports.
Bloomberg also reports that Fresno, Calif.’s mayor is trying to cut the city’s payroll to try to fend off bankruptcy.
The New York Times notes that Detroit’s mayor says the city is making progress with its financial problems.
According to Reuters General Motors Co. ’s profit wasn’t as much as expected.
Military charter provider Global Aviations Holdings announced its exit from bankruptcy, the Atlanta Journal-Constitution reports.
Write to Melanie Cohen at email@example.com. Follow her on Twitter at @MelanieLisa.