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☆ Companies brace for Tuesday: Mentions of election surge on earnings conference calls
▼ + stars: | 2024-11-02 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Octavio Jones | ReutersExecutives at America's largest companies are talking publicly with investors about the presidential election more so than in recent cycles. The word "election" came up on 100 earnings calls of S&P 500 -listed firms between Sept. 15 and Oct. 31, according to FactSet. The U.S. presidential election is Tuesday Nov. 5. 'Prudent' clientsMultiple companies cited a feeling of unpredictability tied to the presidential race among consumers and business clients. To be sure, some of the "election" mentions this year were tied to unrelated events like enrollment periods for health care.

Persons: Blythe Andrews , Jr, Octavio Jones, Kamala Harris, Donald Trump, Richard Tobin, FactSet, John Butters, Harris, Trump, Harry Lawton, Hurricanes Helene, Andrew Watterson, Michael Bayley, Gary Hershorn, Stanley Black, Decker, Donald Allan, Decker's Allan, William Grogan, Jon Vander Ark, Eric Ashleman, hasn't, Nonfarm payrolls, Equifax, Mark Begor, Stephen Squeri, we've, Mark Parrell Organizations: Public, Reuters, America's, CNBC, U.S, Dover, Tractor Supply, Hurricanes, Southwest Airlines, Royal, Hollywood International Airport, Corbis, Republican, Republic, Boeing, Tyler Technologies, American Express, Equity Locations: Tampa , Florida, U.S, Milton, Royal Caribbean, Fort Lauderdale, Fort Lauderdale , Florida, America, China

Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight. The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes. Southwest's shareholder meeting is typically scheduled for May, but by calling for a special meeting Elliott is looking to elect new directors much sooner than that. Earlier this month, executive chairman and former CEO Gary Kelly said he would step down after the carrier's shareholder meeting next year. "The need for change is urgent, and our request for a special meeting may come as soon as next week," Pike and Xu said.

Persons: Elliott, Bob Jordan, Gary Kelly, John Pike, Bobby Xu, Pike, Xu, Andrew Watterson, Robert Jordan Organizations: Elliott Management, Southwest Airlines, Airlines, Aircraft Mechanics Fraternal Association

☆ Southwest Airlines tells staff ‘difficult decisions' ahead in push to boost profits
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

Southwest Airlines has warned employees that it will have to make “difficult decisions” ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company. Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. We also have to change our network,” Watterson said in the video, a transcript of which was seen by CNBC. Southwest did not immediately comment on the staff message.

Persons: Andrew Watterson, “, ” Watterson, Elliott, Gary Kelly Organizations: Southwest Airlines, Elliott Investment Management, Google, CNBC, JetBlue, Southwest, Wing Locations: It’s, Dallas

☆ Southwest Airlines tells staff 'difficult decisions' ahead in push to boost profits
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines has warned employees that it will have to make "difficult decisions" ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company. Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. We also have to change our network," Watterson said in the video, a transcript of which was seen by CNBC. Southwest did not immediately comment on the staff message.

Persons: Andrew Watterson, Watterson, Elliott, Gary Kelly Organizations: Southwest Airlines, Elliott Investment Management, Google, CNBC, JetBlue, Southwest, Wing Locations: It's, Dallas

☆ The best and worst airlines in the US for 2023, according to the WSJ
▼ + stars: | 2024-01-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +9 min

American and United sat in the middle of the group, mostly losing points for cancelations, tarmac delays, and baggage mishaps. AdvertisementHere's a closer look at the best and worst airlines in the US for 2023 — and how they ranked in each category in the WSJ rankings:9. JetBlue AirwaysJetBlue Airways ranked dead last in the WSJ's annual list of best and worst US airlines for 2023. AaronP/Bauer-Griffin/GC Images via Getty Images2022 Rank: 1Delta is the best airline in the US for 2023, according to The Wall Street Journal's ranking. It was second for extreme delays, fourth for tarmac delays and mishandled baggage, and fifth for flight cancelations — its lowest finish overall.

Persons: —, Delta, Allegiant, Andrew Watterson, United, Marcus Mainka, Tayfun, Mario Tama, Nicolas Economou, Robert Alexander, Tom Williams, Bauer, Griffin Organizations: Delta Air Lines, Alaska Airlines, JetBlue Airways, Service, Delta, Allegiant, Department of Transportation, — United Airlines, American Airlines, Max, Southwest Airlines, Journal ., Spirit Airlines, Frontier Airlines, Jetblue, JetBlue, Airlines, JetBlue Airways JetBlue Airways, Anadolu Agency, Getty, cancelations, Spirit Airlines Spirit Airlines, United Airlines United, American Airlines American Airlines, Southwest Airlines Southwest Airlines, Southwest, Delta Air Lines Delta Air Lines Locations: West Coast, Seattle, Alaska, New York City, New York, Southwest

☆ Southwest, other US airlines face holiday travel test after 2022 blizzard
▼ + stars: | 2023-11-20 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Southwest Airlines planes are show at San Diego International airport in San Diego, California, U.S., May 18, 2023. The chief operating officer of Southwest Airlines (LUV.N) found himself in the eye of a storm after a blizzard last December forced the company to cancel almost 17,000 flights, disrupting travel plans for about 2 million customers. With this week's U.S. Thanksgiving holiday kicking off the holiday travel season, Watterson can ill afford another fiasco. Airlines have taken measures to beef up winter operations including investments in weather forecast technology and de-icing equipment, and increased staffing and training. To make its winter operations more resilient, Watterson said Southwest invested in de-icing trucks and de-icing pads across its network.

Persons: Mike Blake, Andrew Watterson, Watterson, Constance von Muehlen, David Seymour, von Muehlen, Rajesh Kumar Singh, Doyinsola Oladipo, David Shepardson, Ben Klayman, Matthew Lewis Organizations: Southwest Airlines, San Diego International, REUTERS, Rights, Reuters, U.S . Transportation Department, Alaska Airlines, University of Washington, United Airlines, American Airlines, Federal Aviation Administration, FAA, U.S, Thomson Locations: San Diego , California, U.S, Dallas, Denver, Chicago, Southwest, Seattle, Alaska, Newark , New Jersey, Congress, New York, Washington

☆ Airlines brace for record Thanksgiving air travel
▼ + stars: | 2023-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Airlines expect record travel demand this Thanksgiving. The Sunday after Thanksgiving is expected to be the busiest day during that period with an estimated 2.9 million passengers taking to the skies. And Thanksgiving will be a test to see how the aviation industry handles the year-end holidays while still managing strains like a prolonged shortage of air traffic controllers. Weather readiness is particularly key for Southwest Airlines , which canceled 16,700 flights late last year and in early 2024 following severe winter weather, while other airlines recovered more quickly. Those extra two minutes "just helps that flight and the next flight and the next flight," she said.

Persons: they're, David Pekoske, Andrew Watterson, Linda Jojo, Jojo Organizations: Delta Airlines, Orlando International Airport, Airlines, Transportation Security Administration, Carriers, Southwest Airlines, Skift Aviation, United Airlines Locations: Orlando , Florida, Dallas, Fort Worth , Texas, enplaning

A Boeing 737 MAX sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 8, 2015. "We're getting closer and closer," Watterson said of the certification work. However, delays in certification have forced Southwest to convert dozens of orders for 150-seater MAX 7 aircraft into the larger 175-seater MAX 8 variant. Both the MAX 7 and the largest model MAX 10 are waiting for the FAA's certification, with MAX 10 slated for its first delivery in 2024. "The fact that the number of open items is converging, not diverging like it was probably a year ago, shows that they're getting closer and closer," Watterson said.

Persons: Matt Mills McKnight, Andrew Watterson, Watterson, We're, Dave Calhoun, they're, Rajesh Kumar Singh, David Shepardson, Valerie Insinna, Diane Craft Organizations: Boeing, REUTERS, Rights, Southwest Airlines, U.S . Federal Aviation Administration, Reuters, FAA, Federal Aviation Administration, Airbus, Thomson Locations: Renton , Washington, Dallas, Southwest, Washington

☆ ‘You Have to Work Extra to Hire People’: What Companies Have Been Saying About Jobs
▼ + stars: | 2023-08-04 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

As companies reported their latest quarterly earnings in recent weeks, hiring, wages and head counts were popular topics as analysts quizzed executives about their plans. Others said that rising wages remained a worry for their bottom lines. And many still looking to hire said that attracting and retaining workers was difficult as the labor market remained robust. “You have to work extra to hire people and to keep people,” Andrew Watterson, the chief operating officer of Southwest Airlines, said on a call with analysts. Even so, the rate of workers quitting their jobs, a measure of workers’ confidence in their prospects and bargaining power, continued to fall in June, according to data released Tuesday.

Persons: ” Andrew Watterson, ”, Martine Ferland, Mercer, Rick Cardenas Organizations: Southwest Airlines, Darden Restaurants Locations: Olive

☆ Extreme weather is hitting parts of the US. That’s bad news for the economy
▼ + stars: | 2023-06-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

All told, at least a third of the US population is currently grappling with costly extreme weather events. In 2022, extreme weather events cost the United States about $165 billion, according to the NOAA. Sector by sector: Extreme weather impacts the economy writ large, but certain sectors tend to suffer more than others. Agriculture, construction, tourism and renewable energy sectors also tend to feel the brunt of extreme weather events. “We’re really poorly adapted to the extreme weather and climate that we have right now,” said Mankin.

Persons: New York CNN — We’ve, ”, Justin Mankin, Nam, we’ve, Andrew Watterson, Ian, “ We’re, Mark Thompson, it’s, —, Vladimir Putin, Brent, That’s Organizations: CNN Business, Bell, New York CNN, Dartmouth College, Sunday, National Oceanic, Atmospheric Administration, NOAA, Federal Aviation Administration, FAA, Travelers, Southwest Airlines, O'Hare International, Agriculture, Rystad Energy, Western, Federal Reserve Bank of New, Consumer Locations: New York, Texas, United States, Chicago, Florida, Russia, China, India, Russian, Moscow, Federal Reserve Bank of New York

☆ Southwest Airlines CEO receives higher bonus despite holiday meltdown
▼ + stars: | 2023-04-06 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

In February, the company said executive bonuses would be cut as a result of the meltdown. Jordan received $195,720 in bonus payout, up 89% from a year ago, according to a regulatory filing. The Dallas-based carrier also paid a higher bonus to Chief Operating Officer Andrew Watterson. Jordan served as executive vice president until Feb 1, 2022, when he became the company's CEO. Watterson served as chief commercial officer through last September.

☆ Southwest is experimenting with new ways to speed up boarding — starting with upbeat music and flashing lights to get passengers moving
▼ + stars: | 2023-03-05 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +4 min

But Southwest Airlines is on a mission to change that. The new boarding practices include highly visible changes like upbeat music on the jet bridge and video monitors that tell passengers when boarding will begin. The monitors also include lights that flash during boarding, according to the Journal. But some of the airline's ideas are less consumer-facing, and focus on optimizing the boarding process from the airline's side of operations. There, passengers can streamline the boarding process and potentially even upgrade their tickets before they get on a plane.

☆ Southwest Executive Vows Airline Will Overhaul Systems That Failed in Meltdown
▼ + stars: | 2023-02-09 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

A top Southwest Airlines Co. executive told lawmakers Thursday that the airline is working to shore up operations and revamp technology in the wake of its December meltdown. Southwest Chief Operating Officer Andrew Watterson said the airline is working to fix its operation, including implementing a software patch that is set to go into effect Friday, he said. Cash bonuses to executives will be reduced as a result of the upheaval, he said.

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) on Thursday faced harsh criticism from U.S. senators at a hearing investigating the airline's meltdown that disrupted travel plans for 2 million customers, with one lawmaker calling the situation an "unmitigated disaster." While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Democratic Senator Jacky Rosen called it an "unmitigated disaster" that had a "devastating impact on families." Watterson said it has received about 284,000 cases from passengers impacted by meltdown and reimbursed more than 273,000 -- leaving 10,782. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up."

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) faced harsh criticism from U.S. senators at a hearing on Thursday investigating the airline's meltdown that disrupted travel plans for 2 million customers. The airline and its pilot union offered sharply contrasting reasons for the low-cost carrier's massive travel disruptions. While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up." The meltdown caused the cancellation of almost 17,000 flights and is estimated to have cost the airline more than $1 billion.

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) faced harsh criticism from U.S. senators at a hearing on Thursday investigating the airline's meltdown that disrupted travel plans for 2 million customers. Senator Ted Cruz, the top Republican on the Senate Commerce Committee, called the cancellation of more than 16,000 flights "an epic screwup." While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up." Casey Murray, president of the Southwest Airlines Pilots Association (SWAPA), said that the union has been sounding the alarm about the carrier's crew scheduling technology and "outdated" operational processes for years.

☆ Live updates: Southwest Airlines executive testifies before the Senate Commerce Committee
▼ + stars: | 2023-02-09 | by ( Chris Isidore | Aditi Sangal | ) edition.cnn.com time to read: +1 min

Fixes to the Southwest Airlines' crew scheduling system that failed spectacularly during the service meltdown in December will be live "tomorrow," said Andrew Watterson, Southwest's chief operating officer, during a Senate Commerce Committee hearing on Thursday. "With regard to this event, our crew scheduling system had a particular fault," Watterson said. "Tomorrow, the fix will go in, it will be live on our production system. But Watterson cautioned the scheduling system was not the only thing that failed and caused the problems. "We believe our winter operations resiliency was the root cause, and that will take longer to address," he said.

☆ Southwest faces Senate hearing over holiday travel chaos
▼ + stars: | 2023-02-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Passengers check in for a Southwest Airlines Co. flight inside Terminal 1 at Los Angeles International Airport (LAX) in Los Angeles, California, on August 10, 2022. Southwest Airlines ' chief operations officer is scheduled to face questions from a Senate panel on Thursday over the carrier's December meltdown that stranded thousands of passengers over the holidays. Andrew Watterson plans to apologize for the travel chaos before the Senate Commerce Committee. The president of the Southwest Airlines Pilots Association, Casey Murray, will tell the panel that the carrier ignored warning signs about its operation, according to written testimony reviewed by CNBC. Core values were forgotten," Casey Murray said in written testimony ahead of Thursday's hearing.

☆ Southwest explains its meltdown to Congress
▼ + stars: | 2023-02-09 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

Washington CNN —Congress is set to receive new evidence Thursday of internal chaos at Southwest Airlines over the Christmas holiday meltdown. The Senate Commerce committee is set to question Southwest executive Andrew Watterson, alongside Southwest pilot union president Casey Murray, Sharon Pinkerton of the Airlines for America trade group, Paul Hudson of Flyers’ Rights, and economist Clifford Winston of The Brookings Institution. It’s a mess down here.”A photograph of the message, which shows the extent of the airline’s breakdown, is included in testimony the Southwest Airlines Pilots Association union, SWAPA, plans to present at the hearing. Southwest CEO Bob Jordan apologized and the airline offered reimbursements for passengers’ costs, along with bonus points. The union criticized the airline for giving executives stock options in the wake of the meltdown while employees lost profit sharing pay because of the airline’s financial hit due to the meltdown.

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) and its pilot union will offer sharply contrasting reasons for the low-cost carrier's meltdown in December that disrupted travel plans for two million customers, ahead of a U.S. Senate committee hearing on Thursday. While Southwest has cited weather impacts, the union will single out poor preparation and a failure to modernize technology, according to written testimonies for the hearing, seen by Reuters. "What began as a weather event on December 21st turned into a crew scheduling event by December 24th," said Watterson. Casey Murray, president of the Southwest Airlines Pilots Association (SWAPA) said the union has been sounding the alarm about the carrier's crew scheduling technology and "outdated" operational processes for years. The committee had asked Jordan to testify but Southwest said the hearing conflicted with other commitments, including an employee rally in Baltimore on Wednesday.

☆ Southwest pilots detail the Christmas meltdown chaos
▼ + stars: | 2023-02-08 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

CNN —Congress is set to receive new evidence Thursday of internal chaos at Southwest Airlines over the Christmas holiday meltdown. It’s a mess down here.”A photograph of the message, which shows the extent of the airline’s breakdown, is included in testimony the Southwest Airlines Pilots Association union, SWAPA, plans to present at a Senate Commerce committee hearing. “No updates here,” another cockpit computer message to pilots read. Southwest CEO Bob Jordan apologized and the airline offered reimbursements for passengers’ costs, along with bonus points. The union criticized the airline for giving executives stock options in the wake of the meltdown while employees lost profit sharing pay because of the airline’s financial hit due to the meltdown.

☆ Southwest plans to tell Senate it's confident in its schedule after holiday meltdown
▼ + stars: | 2023-02-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines plans to apologize before a Senate panel on Thursday over the carrier's December meltdown that stranded hundreds of thousands of travelers around Christmas. "In hindsight, we did not have enough winter operational resilience," Chief Operating Officer Andrew Watterson said in written testimony, which was reviewed by CNBC, ahead of Senate Commerce Committee hearing. The debacle made for an $800 million pretax hit and drove the carrier to a net loss last quarter. Watterson plans to tell the committee that the carrier has made short-term improvements to communicate more easily with crews when things go wrong and has improved tools that keep track of the operation's stability. With those mitigation tools, "we are confident in our flight network and the schedules we have published for sale," Watterson plans to say, according to the testimony.

☆ Southwest CEO Jordan finds himself in eye of storm after airline's holiday debacle
▼ + stars: | 2023-02-08 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +6 min

CHICAGO, Feb 8 (Reuters) - Bob Jordan, Southwest Airlines Co's (LUV.N) CEO, faces the biggest challenge yet in his 35-year career at the airline that has built a customer-friendly reputation. Southwest's struggles reached a notable low on Jan. 28 when comedy sketch TV show "Saturday Night Live" lampooned the Dallas-based airline's technology and service. The carrier will now answer to U.S. Congress on Thursday when Chief Operating Officer Andrew Watterson testifies before the Senate Commerce Committee. In October, Jordan, who started his career at Southwest in 1988 as a computer programmer, put Watterson in charge of the airline's operations. Last week, Jordan also named a chief information officer who will help manage the airline's technology investments, upgrades and system maintenance.

☆ Southwest faces Senate hearing next week following holiday meltdown
▼ + stars: | 2023-02-03 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

John and Lori Ingoldsby, who drove to Denver after the first leg of their flight on Southwest Airlines was canceled, wait for a flight to finish their trip at Denver International Airport on December 28, 2022 in Denver, Colorado. Southwest Airlines ' chief operating officer, Andrew Watterson, will face questions from a Senate panel next Thursday about the carrier's holiday meltdown that stranded hundreds of thousands of travelers. Southwest said the hearing date overlapped with "a previous commitment" for CEO Bob Jordan. The incident has drawn increased scrutiny from Washington and capped a year of on-and-off disruptions in air travel, due to bad weather, staffing and technology issues. Sen. Maria Cantwell, D-Wash., the committee chair, had previously said she planned to hold a hearing on flight disruptions following Southwest's holiday travel chaos.

☆ Southwest to testify at U.S. Senate hearing after meltdown
▼ + stars: | 2023-02-03 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Alyssa Pointer/File PhotoWASHINGTON, Feb 3 (Reuters) - Southwest Airlines (LUV.N) Chief Operating Officer Andrew Watterson will testify on Feb. 9 before the U.S. Senate Commerce Committee after a holiday meltdown forced the budget carrier to cancel thousands of flights. The hearing titled "Strengthening Airline Operations and Consumer Protections" will also include Southwest Airlines Pilots Association President Captain Casey Murray, Sharon Pinkerton, a senior official with Airlines for America, an industry group, and Paul Hudson, who heads Flyers' Rights, a passenger advocacy organization. The hearing will review causes and impacts of recent air travel disruptions including the Southwest December holiday operational woes that resulted in more than 16,000 flight cancellations. Southwest Chief Executive Bob Jordan has repeatedly apologized for the mass cancellations and said the carrier is looking at all options to prevent a repeat. The U.S. Transportation Department (USDOT) is investigating whether Southwest engaged in "unrealistic scheduling of flights" in December.

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