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Conrail Train Derails in NJ, AMR Needs More Time For Restructuring Plan: Consumer Biz Update

November 30, 2012

A Conrail freight train derailed Friday in southern New Jersey, spilling hazardous chemicals at the scene, which is in Paulsboro, which is just across the Delaware River from Philadelphia. Rail operators CSX Corporation (NYSE:CSX) and Norfolk Southern Corporation (NYSE:NSC) jointly own Conrail.

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American Airlines’ parent company, AMR Corp (AAMRQ.PK)., has requested more time to submit a restructuring plan, according to a filing on Friday. The request was made with the unsecured creditors committee and if allowed, would grant American the exclusive right to submit a restructuring plan to the court until March 11th, instead of the current exclusivity period which ends on January 28th.

Tempur-Pedic International (NYSE:TPX) and Sealy Corporation (ZZ) reported in a press release that on Friday they received a request for additional information and documentary materials from the Federal Trade Commission regarding the former’s proposed purchase of Sealy. The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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