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☆ American Airlines ekes out a first-quarter profit as carrier ramps up flying
▼ + stars: | 2023-04-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. American Airlines posted a $10 million profit in the first quarter as it ramped up flying and a jump in revenue outpaced higher costs. Excluding charges associated with debt refinancing, American earned an adjusted 5 cents per share during the first quarter, in line with analysts' expectations. For the second quarter of the year, American forecast adjusted per-share earnings of $1.20 to $1.40, at the high-end of analysts' expectations. American CEO Robert Isom said late aircraft deliveries from manufacturers are hindering the carrier's growth.

☆ Airlines are combating the pilot shortage by paying pilots more, making it easier to become one, and hiring from Australia
▼ + stars: | 2023-04-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

An ongoing pilot shortage has plagued US airlines since travel came roaring back post-pandemic. While some organizations — like the Regional Airline Association advocacy group — have praised the legalization, the Air Line Pilots Association has opposed it, Reuters reported. Increasing pilot payRegional flying has been particularly impacted by the pilot shortage, forcing airlines to slash dozens of flights to small markets and even ground regional jets. Other regional carriers like Mesa Airlines, Republic Airways, and Delta's wholly-owned airline Endeavor Air have also gotten pay increases. Lowering training requirementsRegional carrier Republic recently asked the FAA to reduce the flight hour requirement for pilots graduating from its LIFT pilot training academy.

☆ A real estate investor who owns 12 units shares the 10 business, investing, and personal development books that helped him build a $2.7 million portfolio in just 4 years
▼ + stars: | 2023-04-16 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +9 min

These books cover real estate and investing, business, personal development, and leadership. Intrigued by real estate investing, in 2019 Rivers decided to take the plunge and buy his first real estate investment property. In a recent interview with Insider, Rivers recalled only making $28,000 during his first year of selling real estate. It taught him the expectations to set for his employees while he was building up his full-service real estate firm, Rivers Capital Group. While much of the focus for entrepreneurs is on building a business, Rivers believes that selling a business is just as important.

☆ Ousted Marvel Entertainment Chairman Ike Perlmutter to retain Disney shares
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - Marvel Entertainment's former chairman Ike Perlmutter on Wednesday said he will hold on to his Disney (DIS.N) shares, a week after reports of his termination from the role. Reuters reported last Wednesday that Disney had laid off Perlmutter, 80, as part of a cost-cutting campaign. News of Perlmutter's termination had come after he supported activist shareholder Nelson Peltz's unsuccessful bid to obtain a seat on Disney's corporate board. "Trian CEO Nelson Peltz has a long history of improving shareholder returns at many leading consumer businesses," Perlmutter said in a public statement on Wednesday. According to the WSJ report from earlier in the day, he owns about 30 million shares of Disney, worth about $3 billion.

☆ Ike Perlmutter: Disney Fired Me From Marvel, I Wasn’t Laid Off
▼ + stars: | 2023-04-05 | by ( Robbie Whelan | ) www.wsj.com time to read: 1 min

‘All they talk about is box office, box office,’ Ike Perlmutter, the former Marvel Entertainment chairman, said of Disney executives and Marvel Studios leadership. Isaac “Ike” Perlmutter says Walt Disney Co. fired him as chairman of Marvel Entertainment because he pushed Disney too aggressively to cut costs and ran afoul of the creative executives whom newly returned Chief Executive Robert Iger wants to empower. In a rare interview, the 80-year-old Mr. Perlmutter spoke to The Wall Street Journal about his dismissal from Disney last week, his relationship with Mr. Iger, and missteps he feels Disney has made in recent years.

☆ Disney CEO Iger Calls DeSantis’s Moves Antibusiness, Anti-Florida
▼ + stars: | 2023-04-03 | by ( Robbie Whelan | Arian Campo-Flores | ) www.wsj.com time to read: 1 min

Walt Disney Co. Chief Executive Robert Iger called Florida’s actions against Disney over the past year “antibusiness” and “anti-Florida” in his first in-depth comments about the company’s ongoing battle with Gov. Ron DeSantis . “While the company may have not handled the position that it took very well, a company has the right to freedom of speech just like individuals do,” Mr. Iger said at Disney’s annual meeting of shareholders, in response to a question about the dispute.

☆ American Airlines pilots 'near' reaching agreement on new contract - union memo
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

CHICAGO, April 3 (Reuters) - Pilots at American Airlines (AAL.O) are "near" reaching a comprehensive agreement in principle with the company on a new contract, according to a pilot union memo seen by Reuters. American pilots, who received their last pay increase in 2019, have been protesting for a new contract. Both American Airlines and United Airlines (UAL.O) have promised an "industry-leading" contract to their pilots. "Every day that passes is a day our pilots labor under a sub-standard agreement that is problematic to both our careers and the certainty of American Airlines' operation," the APA said. American Airlines Chief Executive Robert Isom has said the company is prepared to match the pay rates and profit-sharing formula that Delta has provided in its new pilot contract.

☆ Disney Lays Off Marvel Entertainment Chairman Ike Perlmutter
▼ + stars: | 2023-03-29 | by ( Robbie Whelan | ) www.wsj.com time to read: +1 min

Walt Disney Co. has laid off Isaac “Ike” Perlmutter, chairman of Marvel Entertainment LLC, and plans to fold the comic-book publishing business into Disney Entertainment, the company’s content-production division. Mr. Perlmutter, who remains one of Disney’s largest individual shareholders, has long had a rocky relationship with Chief Executive Robert Iger . In 2015, Mr. Iger removed him as head of Marvel Studios after a power struggle with current studio chief Kevin Feige . Those layoffs began this week, and included the elimination of Disney’s metaverse unit. The moves represent reversals of the agenda championed by former Disney CEO Bob Chapek , who was close with Mr. Perlmutter and who championed the metaverse initiative.

☆ Disney to Start Its 7,000 Job Cuts This Week
▼ + stars: | 2023-03-27 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

The company also plans to slash $5.5 billion in costs. Walt Disney Co. said it would start notifying workers that they are being laid off, as part of the company’s previously announced plan to cut 7,000 jobs. The entertainment company this week will notify employees whose positions are affected in the initial phase of job cuts, according to a note to employees from Chief Executive Robert Iger that was viewed by The Wall Street Journal.

☆ Disney to Start Laying Off 7,000 Employees This Week
▼ + stars: | 2023-03-27 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

☆ Disney+ Users Paid Up When the Price Rose
▼ + stars: | 2023-03-17 | by ( Robbie Whelan | ) www.wsj.com time to read: +1 min

Data from subscription-analytics firm Antenna suggest Disney has some headroom to raise streaming prices further. Subscribers to Walt Disney Co.’s flagship Disney+ streaming service barely blinked at a 38% price increase that the company imposed in December as part of its launch of an ad-supported streaming product. About 94% of subscribers to the old, ad-free Disney+ service stayed with the product at a higher price point and swallowed the $3 a month price increase, according to new data from subscription-analytics firm Antenna. Disney declined to comment on Antenna’s numbers, but the data suggest the company has some headroom to raise the streaming price beyond the current level of $10.99 a month. “We have a lot of rationalization to do from a pricing perspective, but that’s one path to profitability.”In 2019, the company launched Disney+ at a price of $6.99 a month.

CHICAGO, March 14 (Reuters) - U.S. airlines on Tuesday tried to reassure investors about the strength of travel demand, a day after United Airlines (UAL.O) stoked worries about the industry's pricing power. Even as executives in other sectors of the economy have warned of recession risks, airline chief executives until now have remained upbeat as consumer travel demand stayed strong. Delta reaffirmed its first-quarter outlook, saying travel demand is strong and getting stronger. American Airlines (AAL.O) CEO Robert Isom said the Texas-based carrier was enjoying "tremendous" demand. Airline ticket prices have gone up due to persistent capacity constraints and an unending thirst for travel after pandemic-related restrictions ended.

☆ Disney’s Robert Iger Hints at Raising Streaming Prices
▼ + stars: | 2023-03-09 | by ( Robbie Whelan | ) www.wsj.com time to read: 1 min

Walt Disney Co. Chief Executive Robert Iger revealed some details of his plan to achieve profitability in the company’s streaming business, hinting that Disney could raise prices further and begin licensing its streaming content to competitors. Speaking at Morgan Stanley ’s Media and Telecom Conference in San Francisco on Thursday, Mr. Iger said he was “extremely bullish” on Disney+, the company’s flagship streaming platform, but predicted that subscriber growth would slow as the industry pivots to a focus on profits.

☆ American Airlines pilots' union calls strike authorization vote as contract talks continue
▼ + stars: | 2023-03-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Pilots talk as they look at the tail of an American Airlines aircraft. American Airlines pilots' union plans to hold a vote next month on whether to allow members to call a strike as talks for a new labor contract continue. "While our Negotiating Committee reports good progress, we remain steadfast and focused that now is the time to reach an agreement with American Airlines," the American Airlines pilots' union said Thursday. They had approved a strike authorization vote in the fall, about a month before reaching a preliminary deal with the company. Even if American pilots' union called a strike it would not be immediate; airline strikes are extremely rare in the U.S. and would follow a lengthy process involving federal mediators.

☆ American Airlines prepared to match Delta's pilot pay rates, CEO says
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

CHICAGO, March 7 (Reuters) - American Airlines (AAL.O) is prepared to match the pay rates and profit-sharing formula that rival Delta Air Lines (DAL.N) has provided in its new pilot contract, Chief Executive Robert Isom said on Tuesday. Isom told American pilots that matching Delta's deal will result in a contract worth more than $7 billion for them. Delta's pilots last week ratified a new contract that is widely expected to be a benchmark for contract negotiations at rival carriers. To match Delta's deal, Isom said American pilots would receive on average pay increases of 21% in the first year of contract. Total pay increases in the fourth year of the contract deal would be 40%, he said.

☆ American Airlines CEO tells pilots the carrier will match Delta's pay
▼ + stars: | 2023-03-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

FILE - American Airlines President Robert Isom speaks at a news conference about the company's new partnership with Alaska Airlines, Thursday, Feb. 13, 2020, in Seattle. American Airlines CEO Doug Parker will retire next March and be replaced by the airline's current president, Robert Isom. American Airlines is prepared to raise pilots' wages to match that of Delta Air Lines ' pilots in a new contract, including 40% cumulative pay increases in a four-year deal, CEO Robert Isom said in a message to pilots. "Let me be clear, American is prepared to match Delta's pay rates and provide American's pilots with the same profit-sharing formula as Delta's pilots," Isom said in the message to pilots, sent on Tuesday and seen by CNBC. The Allied Pilots Association, American Airlines pilots' union, didn't immediately comment on Isom's statement.

☆ American Airlines Chairman Doug Parker Plans to Retire
▼ + stars: | 2023-02-23 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

Doug Parker earlier gave up his role as the airline’s chief executive. Doug Parker , a deal maker who helped build American Airlines Group Inc. into the world’s largest airline, is retiring from the carrier’s board, closing a chapter in his decadeslong career in the industry. Mr. Parker stepped down as American’s chief executive last year, handing the reins to then-President Robert Isom . At the time, Mr. Parker said he would remain on as chairman for some period of time, but would have no executive duties.

☆ Travel demand is hot, but some prices may cool: These are the stocks for spring break and beyond
▼ + stars: | 2023-02-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Last week, Hilton Worldwide CEO Chris Nassetta said, "The demand trends here and now are really strong." In the home-rental space, Airbnb also said it was seeing continued strong demand at the start of 2023. China's reopening from its Covid lockdown is also helping propel travel demand, as well as the tick up in business travel, she said. "The trends have been really strong since January," he said. Airlines like Delta, American Airlines and United Airlines cited strong travel demand and higher fares for fueling their strong fourth-quarter earnings — as well as for forecasts for this year.

☆ How Nelson Peltz and Disney’s Marvel Chief Teamed Up in Proxy Fight
▼ + stars: | 2023-02-13 | by ( Robbie Whelan | ) www.wsj.com time to read: 1 min

Longtime friends Isaac “Ike” Perlmutter and activist investor Nelson Peltz shared a similar opinion: Walt Disney Co. was spending too much money. Mr. Perlmutter, chairman of Disney’s Marvel Entertainment unit, was known to be passionate about cost-cutting and once demanded that an action sequence in the 2008 movie “Iron Man” be shot with only three Humvees, instead of the 10 called for in the script. His feuds with Robert Iger during the chief executive’s first tenure over how to run Marvel’s movie studio caused a rift that remains.

☆ Robert Iger Shakes Up Disney’s Entertainment Operations, Rethinks Hulu Ownership
▼ + stars: | 2023-02-10 | by ( Robbie Whelan | Joe Flint | ) www.wsj.com time to read: 1 min

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☆ Disney CEO Robert Iger Raises Doubts on Company Buying Hulu
▼ + stars: | 2023-02-09 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

‘I’m not going to speculate about whether we are a buyer or seller of it,’ Disney Chief Executive Robert Iger said of Hulu. Walt Disney Co. might not be interested in buying the remaining third of the Hulu streaming video service, Chief Executive Robert Iger told CNBC in an interview Thursday. “Everything is on the table right now,” Mr. Iger said. “I’m not going to speculate about whether we are a buyer or seller of it.”

☆ Disney Reveals ‘Frozen,’ ‘Toy Story’ and ‘Zootopia’ Sequels Are in the Works
▼ + stars: | 2023-02-09 | by ( Gareth Vipers | ) www.wsj.com time to read: 1 min

Disney’s ‘Toy Story 4,’ the most-recent installment in the studio’s long-running talking-toy franchise, went on to gross $1 billion worldwide. Walt Disney Co. is doubling down on some of its most popular animated franchises. In his first earnings call since returning as chief executive, Disney’s Robert Iger said sequels to the hit film franchises “Toy Story,” “Frozen” and “Zootopia” were in the works.

☆ Disney’s Shake-Up Resets the Stage
▼ + stars: | 2023-02-09 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Even Robert Iger can only do so much in six weeks. He did manage to make Nelson Peltz ‘s job a little more difficult in that time, though—with the help of all those grown-ups in mouse ears. Disney ‘s fiscal first-quarter results reported Wednesday afternoon were the company’s first since Mr. Iger’s return to the corner office. That happened about halfway through the quarter, following a disastrous earnings report and historic stock selloff sealed the fate of his handpicked successor. The most recent results are also the first since activist Trian Fund Management launched a proxy challenge, seeking a board seat for a founding partner, Mr. Peltz.

That number includes both rocket launches and capsule reentries, and has been steadily climbing. A Falcon Heavy rocket launches the USSF-67 mission on January 15, 2023 from NASA's Kennedy Space Center in Florida. "Air space is going to be a critical, critical issue," Isom said, calling on new industries to contribute to the cost of air traffic control. A graph of FAA-licensed or permitted commercial space launches (excludes launches licensed by other U.S. government agencies, such as NASA or the Department of Defense). Together they create a moving target for space launches and the commercial airlines eyeing the same air space.

☆ Disney’s Earnings, Reorganization Represent Early Test for CEO Robert Iger
▼ + stars: | 2023-02-08 | by ( Robbie Whelan | ) www.wsj.com time to read: 1 min

Robert Iger returns to center stage under a bright spotlight Wednesday to present Walt Disney Co.’s quarterly results and, more important, a vision for the company. On the same day as his first conference call with Wall Street analysts since returning to the company and succeeding former Chief Executive Bob Chapek , Mr. Iger is also expected to present a plan to reorganize Disney’s corporate ranks and cut costs, which the company has been promising since last year.

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