Consumer Business Review: GM DEFENDS European Shakeup, Kraft LOVES ThirdPoint
United Continental Holdings, Inc. (NYSE:UAL) has reached a tentative new labor agreement with its unionized pilots, according to Bloomberg. The pilots have now been urging the airline for almost two years to harmonize their contracts after the merger of United Airlines and Continental Airlines in October of 2010. Separately, the former has begun its second fare rise in less than a month, which should lead to yet another round of increases from its competitors (assuming that UA doesn’t lose revenue from the hike). Meanwhile, analysts are dubious as to how much of this that cash-strapped consumers will tolerate.
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General Motors Company (NYSE:GM) Chief Executive Dan Akerson defended his firm’s recent leadership shakeup during an earnings conference call, saying that the new executives in Europe are “change agents” who will help GM turn around in that region.
This weekend, Sony Corporation’s (NYSE:SNE) Total Recall and 20th Century Fox’s (NASDAQ:NWS) Diary of a Wimpy Kid: Dog Days, might be impacted from the continuing fallout from the Aurora shooting. Research firm NBG’s data indicate that the tragedy still influences moviegoers’ plans to see movies and is repressing box office totals.
Kraft Foods Inc. (NYSE:KFT) holds one of the hedge fund ThirdPoint’s largest positions, according to a leaked report, although at the end of the first quarter the fund had neither a long nor short position in the company.
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