The department's legal challenge to the deal also could throw a
wrench into AMR's plans to quickly emerge from bankruptcy-court
protection, as the merger is the basis of its bankruptcy-exit plan. The
two airlines had hoped for Washington's blessing ahead of a
bankruptcy-court hearing set for Thursday to confirm the exit plan,
which has the support of the company's creditors and unions.
American and US Airways said they would mount "a vigorous and strong defense…and pursue all legal options" to complete their combination, which would create the world's largest airline. Read more»»»
Business term of the day - Term for August 15, 2013: «Business rule»
A business rule is a rule of a business, company, or corporation. It is a rule that defines or constrains some aspect of business
and always resolves to either true or false. Business rules are
intended to assert business structure or to control or influence the
behavior of the business.
Business rules describe the operations, definitions and constraints
that apply to an organization. Business rules can apply to people,
processes, corporate behavior and computing systems in an organization,
and are put in place to help the organization achieve its goals.
For example a business rule might state that no credit check is to be performed on return customers. Other examples of business rules include requiring a rental agent to disallow a rental tenant if their credit rating is too low, or requiring company agents to use a list of preferred suppliers and supply schedules.
While a business rule may be informal or even unwritten, writing the rules down clearly and making sure that they don't conflict is a valuable activity. When carefully managed, rules can be used to help the organization to better achieve goals, remove obstacles to market growth, reduce costly mistakes, improve communication, comply with legal requirements, and increase customer loyalty. Read more »»»
For example a business rule might state that no credit check is to be performed on return customers. Other examples of business rules include requiring a rental agent to disallow a rental tenant if their credit rating is too low, or requiring company agents to use a list of preferred suppliers and supply schedules.
While a business rule may be informal or even unwritten, writing the rules down clearly and making sure that they don't conflict is a valuable activity. When carefully managed, rules can be used to help the organization to better achieve goals, remove obstacles to market growth, reduce costly mistakes, improve communication, comply with legal requirements, and increase customer loyalty. Read more »»»
Industrial Production Lifts European Economy
PARIS — European factories ramped up their output of consumer durable
goods in June, official data showed Tuesday, and economists said the
news signaled an end to the recession that has made the Continent the
laggard of the world economy.
Industrial production in the 17-nation currency zone rose 0.7 percent in
June from May, Eurostat, the statistical agency of the European Union, reported
from Luxembourg. The agency also revised down the size of the decline
in May, to 0.2 percent, rather than the 0.3 percent previously reported.
The data came a day before Eurostat is scheduled to release its first
estimate of second-quarter gross domestic product, and expectations of
good news were supported by the results of a survey
that showed growing confidence in Germany. The ZEW institute, an
economic research organization based in Mannheim, said its economic
sentiment indicator had risen to 42.0 points, up by 5.7 points from
July, and well above its historical average of 23.7 points.
“The euro zone’s recession ended when the snow melted last Easter,”
Christian Schulz, an economist at Berenberg Bank in London, wrote in a
research note. Having contracted for six straight quarters, he said, the
euro zone economy “probably expanded modestly” in the April-June
quarter “and will gain further momentum in the second half of the year.”
Ben May, an economist in London with...Read more...
Justice Department challenges American US Airways merger
The Justice Department and several states have filed a lawsuit to halt the proposed merger of American Airlines and US Airways.
The airlines had anticipated merging within months to create the world's largest airline to compete against United and Delta airlines. But the lawsuit will hinder those plans. Read more...
The airlines had anticipated merging within months to create the world's largest airline to compete against United and Delta airlines. But the lawsuit will hinder those plans. Read more...
Elon Musk Explains the Hyperloop, the Solar-Powered High-Speed Future of Inter-City Transportation
Almost a year after Elon Musk, chief executive of Tesla Motors (TSLA) and SpaceX, first floated the idea of a superfast mode of transportation, he has finally revealed the details: a solar-powered, city-to-city elevated transit system that could take passengers and cars from Los Angeles to San Francisco in 30 minutes. In typical Musk fashion, the Hyperloop, as he calls it, immediately poses a challenge to the status quo—in this case, California’s $70 billion high-speed train that has been knocked by Musk and others as too expensive, too slow, and too impractical.
In Musk’s vision, the Hyperloop would transport people via aluminum pods enclosed inside of steel tubes. He describes the design as looking like a shotgun with the tubes running side by side for most of the journey and closing the loop at either end. These tubes would be mounted on columns 50 to 100 yards apart, and the pods inside would travel up to 800 miles per hour. Some of this Musk has hinted at before; he now adds that pods could ferry cars as well as people. “You just drive on, and the pod departs,” Musk told Bloomberg Businessweek in his first interview about the Hyperloop. Read more...
In Musk’s vision, the Hyperloop would transport people via aluminum pods enclosed inside of steel tubes. He describes the design as looking like a shotgun with the tubes running side by side for most of the journey and closing the loop at either end. These tubes would be mounted on columns 50 to 100 yards apart, and the pods inside would travel up to 800 miles per hour. Some of this Musk has hinted at before; he now adds that pods could ferry cars as well as people. “You just drive on, and the pod departs,” Musk told Bloomberg Businessweek in his first interview about the Hyperloop. Read more...
Rise in U.S. Retail Sales Points to Pickup in Spending
Retail sales rose in July for a fourth consecutive month, showing American households are regaining momentum as employment climbs.
The 0.2 percent increase in purchases followed a 0.6 percent June gain that was larger than previously reported, Commerce Department figures showed today in Washington. The numbers in the report that feed into gross domestic product climbed by the most this year, prompting some economists to boost growth estimates.
More jobs and rising household wealth tied to higher home values and stock prices are boosting confidence and triggering improving sales at companies such as Michael Kors Holdings Ltd. A pickup in consumer spending, which accounts for about 70 percent of the economy, would help counter the fiscal headwinds of government cutbacks that have held back growth.
“We’re seeing sales pick up in multiple categories -- that’s a promising sign that consumer spending might be a little bit stronger in the third quarter,” said Michael Brown, an economist with Wells Fargo Securities LLC in Charlotte, North Carolina. “We’ve seen wage and salary growth continue to expand with the pace of employment. That’s helped support some additional consumer activity.” Wells Fargo is the top forecaster of retail sales, according to data collected by Bloomberg.
The median forecast of 81 economists surveyed by Bloomberg called for a 0.3 percent advance in sales for last month. Estimates ranged from a drop of 0.1 percent to a 0.8 percent gain. The reading for June was revised up from an initially reported 0.4 percent increase. Read more...
The 0.2 percent increase in purchases followed a 0.6 percent June gain that was larger than previously reported, Commerce Department figures showed today in Washington. The numbers in the report that feed into gross domestic product climbed by the most this year, prompting some economists to boost growth estimates.
More jobs and rising household wealth tied to higher home values and stock prices are boosting confidence and triggering improving sales at companies such as Michael Kors Holdings Ltd. A pickup in consumer spending, which accounts for about 70 percent of the economy, would help counter the fiscal headwinds of government cutbacks that have held back growth.
“We’re seeing sales pick up in multiple categories -- that’s a promising sign that consumer spending might be a little bit stronger in the third quarter,” said Michael Brown, an economist with Wells Fargo Securities LLC in Charlotte, North Carolina. “We’ve seen wage and salary growth continue to expand with the pace of employment. That’s helped support some additional consumer activity.” Wells Fargo is the top forecaster of retail sales, according to data collected by Bloomberg.
The median forecast of 81 economists surveyed by Bloomberg called for a 0.3 percent advance in sales for last month. Estimates ranged from a drop of 0.1 percent to a 0.8 percent gain. The reading for June was revised up from an initially reported 0.4 percent increase. Read more...
Business term of the day - Term for August 13, 2013: "Business relations"
Business relations are relations between stakeholders in the business process, such as employer-employee, the employer/employee and business partner, employer/employee-outsourced employee relations, etc. First you have to establish a relationship (channels: phone call, personal contact, email, etc..), later you have to properly maintain and deepen them (channels: phone call, personal contact, electronic mail, informal meetings, etc.). The relations are managed.
The aim of business relationships within the company's commitment are motivation to work and loyalty, the objective of business relationships with external stakeholders are increasing business performance and company image.
The aim of business relationships within the company's commitment are motivation to work and loyalty, the objective of business relationships with external stakeholders are increasing business performance and company image.
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