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More store closures are hitting J.C. Penney. In April, the retailer will close six stores in Ohio, New York, South Carolina, Oklahoma and more....
Four Los Angeles-area schoolteachers who were doused with jet fuel dumped by a Delta Air Lines plane in the minutes before it made an emergency landing sued the airline on Friday, accusing the flight crew of negligence. The plaintiffs say the pilot of the Delta Flight 89, which took off from Los Angeles International Airport (LAX) on Tuesday bound for Shanghai, failed to follow proper procedures in dumping thousands of pounds of fuel over a densely populated area at relatively low altitude. A Delta spokesman declined to comment on the lawsuit, which was filed in Los Angeles County Superior Court and seeks unspecified damages....
(Bloomberg) -- McDermott International Inc. is preparing to file for bankruptcy as soon as next week to address its more than $4 billion debt load, according to people with knowledge of the matter.The Houston-based company, which builds oil platforms and gas-export plants for energy producers, is negotiating a restructuring plan that could see its debt converted into equity with existing term-loan lenders getting the majority of the shares, said the people. Unsecured creditors would receive less than 10% of the equity along with warrants, one of the people said.The terms of the restructuring are still being negotiated and could change, according to the people, who asked not to be identified because the talks are private. Baupost Group and HPS Investment Partners may provide a bankruptcy loan of about $2 billion, the people said.Representatives for McDermott and HPS declined to comment. A representative for Baupost didn’t immediately respond to requests for comment.McDermott...
Jeff Immelt is GE's fall guy so he is writing a book to tell his side of the story....
Jan.17 -- Afsaneh Beschloss, RockCreek Group Chief Executive Officer and Sam Palmisano, Former IBM Chief Executive Officer, discuss the reality of ESG investing and provide perspective to governance issues at Boeing. They spoke with David Westin on "Bloomberg Wall Street Week."...
Jan.17 -- Erika Karp, Cornerstone Capital Group CEO, identifies the myths that are typically associated with ESG investment. She speaks with Afsaneh Beschloss, RockCreek Group Chief Executive Officer and Sam Palmisano, Former IBM Chief Executive Officer, and David Westin on "Bloomberg Wall Street Week."...
Jan.17 -- Afsaneh Beschloss, RockCreek Group Chief Executive Officer and Sam Palmisano, Former IBM Chief Executive Officer, discuss Leon Black's legacy at Apollo and criticism surrounding private equity firms' models of capital. They spoke with David Westin on "Bloomberg Wall Street Week."...
