According to Bloomberg, United Continental (NYSE:UAL) has reached a new labor deal with its pilot union, thus averting a strike. The pilots have been demanding their contracts be restructured following the October 2010 merger between United Airlines and Continental Airlines.
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After the spate of CEO resignations at rival banks, the Citigroup (NYSE:C) Board has asked CEO Vikram Pandit to commence succession planning, despite Pandit’s age being only 55. With the current turmoil in the banking industry, the board obviously wants to avoid being caught blindsided in the event of sudden departures.
Xiamen Airlines, a unit of China Southern Airlines (NYSE:ZNH), has placed an order for 40 737 jets on Boeing (NYSE:BA). The order, worth $3.36 billion at list prices, may be actually worth less after discounts availed by Xiamen.
General Motors (NYSE:GM) CEO Dan Akerson sheds light on the recent top management changes at the company, particularly Europe, saying the new incumbents were “change agents” who could help turn the tide for GM on the continent.
Chipotle’s (NYSE:CMG) CFO Jack Hartung fears no competition from cheaper rivals in the Mexican food space, e.g. Taco Bell (NYSE:YUM), saying they occupy totally different market segments. This view does not click with the recent 12 percent y-on-y gain reported in same store sales by Taco Bell after its new Cantina Bell menu was launched.