United Continental Faces Legal Action and 3 Morning Hot Stocks Trading Today
Walmart Inc (NYSE:WMT): Current Price $68.19
Walmart Inc (NYSE:WMT), currently the largest private employer of war veterans in the United States, announced it is planning to hire over 100,000 more with job offers being issued from Memorial Day in May, according to Reuters. Any honourably discharged veteran would be eligible for these offers within his or her first 12 months off from active service. Walmart’s move has the support of First Lady Michelle Obama who says in Walmart’s defense, “As our wars come to an end and our troops continue to come home, it’s more important than ever that all of us – not just government, but our businesses and non-profits as well – do our part to serve those who have served us so bravely.”
GM (NYSE:GM): Current Price $30.13
According to sources, GM (NYSE:GM) is planning to roll out 10 crossover and car models for its Cadillac brand by 2016. An ELR hybrid may launch by the end of 2013, while later down the road, a Cadillac small car could be GM’s answer to BMW’s 1-Series, says Slashgear. The strategy is aimed at reviving flagging sales in the US and establishing Cadillac as a global luxury brand, a fact confirmed by Cadillac Global’s vice president Bob Ferguson at the Detroit Auto Show. “We’re saying it over and over and over that we want Cadillac to be a truly global luxury brand. We have the core of a very good product set now and we’re working hard at examining the options to make it even better. You can expect a more robust lineup.”
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Yum Brands (NYSE:YUM): Current Price $66.12
A hard-hitting editorial in Xinhua News accuses foreign companies such as Yum Brands (NYSE:YUM), Carrefour, and Volkswagen of double standards in the conduct of their business in China and elsewhere. Citing the example of the Hallmark Meat Company, which went bankrupt following massive penalties and the largest meat recall in the US because of its mistreatment of cows, the article claims multinational companies have exploited loopholes in Chinese law and regulations to escape punishment for similar or worse shortcomings. The editorial also points to the small settlements that companies such as Samsung and LG were required to pay up last week for rigging prices in China, compared to those payable in the US and European markets.
United Continental (NYSE:UAL): Current Price $25.20
The Regional Transportation Authority, Chicago, is taking legal action against United Continental (NYSE:UAL) and American Airlines (AAMRQ.PK), claiming it was deprived of over $300 million in taxpayer revenue by the airlines’ strategy to route jet fuel purchases through sham offices and subsidiaries located in Sycamore. According to the RTA, the airlines secured 25 year agreements with Sycamore allowing them to show acceptance of jet fuel there in return for guaranteed payments to the city of as much as $500,000 annually.
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