Bankruptcy filling for Aloha Airlines
Published 9:00 pm Friday, December 31, 2004
The parent company of Aloha Airlines has filed for Chapter 11 bankruptcy, joining four other U.S. air carriers seeking to restructure under court protection. “It will be business as usual as we move forward to complete the restructuring of our company,” said David Banmiller, who took over as Aloha Airgroup’s president and chief executive in mid-November. Reservations for future travel will be taken, tickets will be honored and flights will operate as scheduled, Banmiller said. The bankruptcy filing Thursday came after months of working with the Air Transportation Stabilization Board to avoid a bankruptcy filing, the board said Friday.
Court bars limits on textile imports
The Bush administration is being temporarily barred from imposing new limits on imported clothing and textile products flowing into the United States from China. The action by a federal court in New York comes as U.S. textile makers brace for an even greater surge of Chinese apparel imports when decades-old, worldwide quotas expire today. U.S. textile and clothing manufacturers, worried about more competition from China, are seeking protections from the administration to limit Chinese imports.
Corporate boards fight pension funds
After three years of harsh criticism from public pension funds, corporate America is fighting back. Since late 2001 and the collapse of energy giant Enron and other high-profile businesses, corporate interests have been on the defensive as the public and politicians clamored for reform. Now, big business is lobbying against the pension funds and opposing a big item on the funds’ agenda – their attempts to nominate directors to corporate boards. Companies and business organizations are making their case in editorials in major business publications, in reports critical of pension fund policies and in proposed legislation that would dramatically change the nature of some funds.
Wal-Mart lawsuit allowed to expand
A federal judge has opened the door to a possible expansion of a lawsuit against Wal-Mart filed by illegal immigrant janitors who claim the retail giant violated labor laws. U.S. District Court Judge Joseph Greenaway Jr. denied a motion by Wal-Mart Stores Inc. to dismiss the suit, and instead approved sending court-approved notices to potential plaintiffs. The court found merit in the claim that illegal immigrant workers have minimum wage and overtime pay rights under the federal Fair Labor Standards Act.
From Herald news services
