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Entries tagged "transportation"Will Oosterhouse skid at Gainey?Bankrupt trucking company Gainey Corp. has hired ex-attorney Carl Oosterhouse as its new chief operating officer, a curious choice given that he was disbarred for intentional dishonesty and improper use of client funds. And one of those clients was Gainey. ... Rising fuel costs stall freight carrier sectorThe hard-charging price of gas and, more specifically, diesel fuel, appears to have created a bankruptcy crisis at yet another sector of the economy -- freight carriers. ... IdleAire takes a rest stop in Ch. 11In Tuesday's largest bankruptcy filing, IdleAire Technologies Corp. has lined up $25 million in debtor-in-possession financing from Wells Fargo Bank NA to fund its operations until it can sell itself to IdleAire Acquisition Co. LLC for $10 million.... Northwest, UAL flying unfriendly skiesIt's not a pleasant time to be in the airline industry right now with fuel costs rising, labor disputes and customer dissatisfaction over delays ultimately resulting in sagging revenues. For survival, some airline companies such as Delta Airlines Inc. [DAL] and Northwest Airlines Corp. [NWA] have turned to possible mergers, but the markets haven't necessarily applauded these plans. ... Delta-Northwest just flying through some turbulenceMy how a month of waiting can change perception. A deal between Delta Air Lines Inc. and Northwest Airlines Corp., widely seen as a forgone conclusion just weeks ago, is being viewed as considerably less likely in the current news cycle. The Wall Street Journal Wednesday proclaimed in a headline that deal talks have hit a "snag," in the story describing the deal as "foundering" and at an "impasse," while The New York Times similarly reported that ongoing pilot negotiations are playing "havoc" with airline mergers. ... Not your father's auto industryA report in Tuesday’s Wall Street Journal that the United Auto Workers might have trouble applying the framework of its contract with General Motors Corp. to Ford Motor Co. and Chrysler LLC highlights the growing differences separating the three titans of the U.S. auto industry. For decades GM, Ford and Chrysler moved largely in unison as they dominated the domestic market, and the UAW in normal times largely treated the three as one company as a result. The union’s negotiating strategy involved picking one of the three to hold talks with, and then mirroring the results onto the two other... Foxtons is one step away from bankruptcyThe residential real estate slump has taken another casualty: Foxtons, a West Long Branch, N.J.-based real estate company that was recently orphaned by its British parent. The company said it was shutting its doors, laying off 350 of its 380 employees and considering filing for bankruptcy.The shutdown was attributed to lackluster residential sales. However, the suburban New Jersey realty firm was recently left behind by its former parent, British real estate firm Foxtons Ltd., when buyout firm BC Partners acquired the British portion of the business for £400 million ($790 million) in May, perhaps compounding its problems. ... Food shoppingKetchup titan Heinz Corp. said Tuesday it will sell its frozen foods unit to Lehman Brothers Merchant Banking for $506 million. Reports that the company was mulling a sale to hone its U.S. focus first surfaced in September and the pair announced earlier this month they were in exclusive deal talks. The news comes at an interesting time for food companies. In January, The Deal reported bids and interest were dwindling for the world’s leading pineapple purveyor, Fresh Del Monte, after initial buzz the auction could draw $1.8 billion for the company. Last year, the virtually unheard of agricultural company... Back for moreThis afternoon, Irish telecom Eircom plc has crept back into headlines saying it received a preliminary takeover approach from Australian private equity firm Babcock & Brown Ltd. The news comes after a period of aggressive telecom M&A that swept across Europe has begun to slow, and just months after the Swiss government banned Swisscom AG, Eircom’s then-would-be acquirer, from doing any major international deals. That $3.1-billion proposed transaction would have rounded out a series of big-sticker telecom purchases across Europe. Last year, Spain’s Telefonica SA agreed to buy Cesky Telecom A/S for $3.6 billion. The company later launched a $31.4... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "transportation." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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