Sandy Impacts Major Carriers & Airports, Las Vegas Sands Settles Accusations: Consumer Business Recap
By early Monday, the hurricane had grounded more than 6,800 commercial flights, with the most affected carriers being United Continental (NYSE:UAL), Delta (NYSE:DAL), US Airways (NYSE:LCC), JetBlue Airways (NASDAQ:JBLU), and AMR. The cancellations will probably impact fourth quarter earnings, according to the consultant R.W. Mann & Co, but the companies could retrieve a portion of revenue when passengers reschedule their flights. By later in the day, flight cancellations climbed past 10,000, with the major airports in Washington, Philadelphia, and New York almost crippled for the time being. According to CNBC, this freak storm might cost the industry more than $450 million.
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The casino firm Las Vegas Sands Corp. (NYSE:LVS) is discussing with federal prosecutors how to resolve claims that it failed to report potentially suspicious financial dealings by two big customers that were subsequently charged with crimes, according to the Wall Street Journal. To make the matter go away, the company will have to pay a fine and also change the way in which it handles money from its customers.