Company Watch - Northwest Airlines.Apr 2, 2007 Northwest Flight Attendants Blocked From Striking. Flight attendants at Northwest Airlines may not strike, a federal appeals court ruled on Thursday, affirming a lower court ruling and lifting a cloud hanging over the bankrupt carrier. Mar 29, 2007 US DOJ (Department Of Justice) The legal arm of the U.S. government that represents the public interest of the United States. It is headed by the Attorney General. subpoenas Northwest in cargo probe. The DOJ has subpoenaed Northwest Airlines in an air-cargo price-fixing probe, the carrier said Wednesday. More than a dozen airlines have also been included in the investigation. An airline spokesman said the carrier is cooperating with the investigation. Mar 29, 2007 Northwest Airlines announced the withdrawal of a $129 million salaried employee unsecured claim from its reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. . Under a new salaried equity plan covering 5,200 salaried and management employees, those below director level will receive cash and restricted stock worth $77.4 million. "This salaried equity plan will help ensure that Northwest retains a team of experienced salaried employees, and ties the interests of that team to the financial performance of our company," President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Doug Steenland said. Mar 29, 2007 Northwest seeks creditors' vote on existing bankruptcy A bankruptcy judge ruled Monday that Northwest Airlines may start seeking approval of its plan to leave bankruptcy protection from its creditors. The plan values Northwest at about $7 billion. Mar 27, 2007 Northwest withdraws unsecured claim of $129M for salaried workers. Mar 27, 2007 Court approves Northwest disclosure statement; June emergence targeted Northwest Airlines' disclosure statement was approved by a US Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. yesterday, clearing the way for the company to seek approval from creditors for its plan to emerge from Chapter 11 by the end of the second quarter with an anticipated equity value of $6.5-$7.7 billion. Mar 27, 2007 Pension agency wants Northwest to disclose liability The Pension Benefit Guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. Corp. wants Northwest Airlines to disclose that it will remain responsible for pension liabilities Pension liabilities Future liabilities resulting from pension commitments made by a corporation. Accounting for pension liabilities varies widely by country. if it exits bankruptcy protection under its current plan. In a court filing, the agency said the disclosure is "critically important" to unsecured creditors Unsecured Creditor An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because they have nothing to fall back on should the borrower default on the loan. A debenture holder is an unsecured creditor. . Northwest was not available for comment. Mar 26, 2007 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new, free service that aims to keep travelers informed flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Air Travel Media / Pyramid pyramid, structure pyramid. The true pyramid exists only in Egypt, though the term has also been applied to similar structures in other countries. Egyptian pyramids are square in plan and their triangular sides, which directly face the points of the Media Group. All rights reserved. Mar 26, 2007 |
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