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BUSINESS
April 19, 1989
A group led by LA Partners L.P. of New York, has reduced its stake in UAL Corp., the Chicago-based parent of United Airlines, from 5.51% to 4%, or 849,435 common shares. The group, which also includes LA International Ltd., sold a total of 310,300 UAL shares between March 31 and April 14 for from $117.25 to $120 each, according to a filing with the Securities and Exchange Commission. Several principals in LA Partners, including Paul E. Tierney Jr., are also involved with Coniston Partners, the group bidding to acquire TW Services.
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BUSINESS
January 22, 2009 | Peter Pae
Two of the nation's biggest airlines, battered by slumping demand for air travel, racked up huge losses and said Wednesday that they remained uncertain about profit prospects for 2009 amid a global economic downturn. The dismal outlook hammered airline stocks. Shares of AMR Corp., parent of second-largest carrier American Airlines, dropped $2.48, or nearly 24%, to $7.98 after the airline reported that its fourth-quarter losses swelled to $340 million from $69 million a year earlier. UAL Corp.
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BUSINESS
March 28, 1986
In filings with the SEC, UAL Inc. said it is planning to sell the hotel to an undisclosed buyer. UAL previously had reported that it would sell two of its hotels, which it did not identify, in an attempt to raise $300 million to $500 million. "We're trying to convert undervalued assets into cash," spokesman Tom Germuska said.
BUSINESS
September 11, 2008 | From Times Staff and Bloomberg News
Tribune Co. said Wednesday that the confusion over a 2002 article on UAL Corp. started because Google Inc.'s automated search couldn't separate breaking news from older stories on the South Florida Sun-Sentinel's website. Tribune said it identified problems with the search engine months ago and had asked Google to stop using the function to find stories on its newspaper websites. Google continued to pull articles from the Sun-Sentinel's website, where a link to the old story on United Airlines parent UAL appeared last weekend, according to Tribune.
BUSINESS
June 19, 2005
I take exception to comments by letter writer John Booterbaugh regarding retirement benefits to a retired United pilot, Bob McGowan ("Other United Retirees Worse Off," Letters, June 12). This gentleman worked hard for more than 30 years and earned every dime in his pension. He contributed money he earned to this pension over a decades-long career, and every dime in that pension is money already earned by that man. He deserves the full amount of it, whatever the amount, and taking it away is criminal.
BUSINESS
June 1, 1985 | ROBERT E. DALLOS, Times Staff Writer
UAL Inc., the parent company of United Airlines, said Friday that it plans to spin off the hotels owned by its Westin Hotels subsidiary into a series of partnership trusts. A spokesman for the Chicago-based company declined to say how much UAL expects to realize from the deals, which will take place over an unspecified period. Under the plan, UAL, together with Merrill Lynch Capital Markets, will form several partnership trusts to which the hotels will be sold.
BUSINESS
April 13, 1987 | ROBERT E. DALLOS, Times Staff Writer
UAL, corporate parent of United Airlines, finds itself uncomfortably vulnerable and unloved these days. That's mainly because of the attempt last week by United's own pilots to buy the airline. Even though that bid may never get off the ground, the pilots have tossed the conglomerate that owns United into the tank with takeover sharks. The company has been "put into play," in Wall Street parlance. It's up for grabs, even though it doesn't want to be.
BUSINESS
June 18, 1985 | KATHLEEN DAY, Times Staff Writer
Ending weeks of speculation that it was about to divest the car rental unit, RCA said Monday that it has tentatively agreed to sell its Hertz subsidiary to UAL Inc., Chicago-based parent of United Airlines, for $587.5 million cash.
BUSINESS
September 11, 2008 | From Times Staff and Bloomberg News
Tribune Co. said Wednesday that the confusion over a 2002 article on UAL Corp. started because Google Inc.'s automated search couldn't separate breaking news from older stories on the South Florida Sun-Sentinel's website. Tribune said it identified problems with the search engine months ago and had asked Google to stop using the function to find stories on its newspaper websites. Google continued to pull articles from the Sun-Sentinel's website, where a link to the old story on United Airlines parent UAL appeared last weekend, according to Tribune.
BUSINESS
October 16, 1994
After reading your article on the United Airlines Shuttle start-up ("Shuttle Launch," Sept. 29), it would appear that one of the big problems with the airline is completely overlooked. I refer to the very large multimillion-dollar buyout of its former CEO, Stephen Wolf. And as I read in the Wall Street Journal, one of their top executives was forced out of his position in a European company. I wonder how long it will be before UAL buys out its present top executives. How long will this rape of UAL funds go on?
BUSINESS
September 9, 2008 | Tom Petruno, Times Staff Writer
Information can live in cyberspace forever. And that cost some investors in United Airlines parent UAL Corp. a load of money Monday. Shares of UAL briefly plummeted as low as $3 early in the day -- from $12.30 on Friday -- after a 6-year-old story on the company's 2002 bankruptcy filing resurfaced on the Web and was reported as news by an investment letter. The shares bounced back after the market realized the report wasn't current. But investors who sold at the day's lows are stuck: The Nasdaq Stock Market, where UAL stock is listed, said trades triggered by the erroneous report wouldn't be rescinded.
BUSINESS
July 12, 2008 | From Times Wire Services
United Airlines parent UAL Corp. said it would record $2.6 billion to $2.7 billion in accounting charges in the second quarter, according to a regulatory filing. The largest chunk is a noncash impairment charge of $2.2 billion to $2.3 billion. The filing said UAL was writing off the "entire value of goodwill on its books." Officials were unavailable to elaborate.
BUSINESS
June 13, 2008 | Peter Pae, Times Staff Writer
United Airlines said Thursday that it would begin charging $15 for the first piece of checked luggage, becoming the second major U.S. airline to impose a fee for a service that has long been included in the fare. The luggage charge for coach-class passengers on the nation's second-largest carrier was quickly matched by US Airways, raising the prospect that the other two big carriers, Delta Air Lines and Continental Airlines, would follow suit.
BUSINESS
May 31, 2008 | From the Associated Press
United Airlines parent UAL Corp. scrapped its latest attempt to combine with US Airways Group Inc. and create the world's largest carrier, formally backing away Friday from a deal that probably would have resulted in fewer flights and higher ticket prices. Now the question for United, US Airways and other U.S. airlines is how to get by and make money with oil prices near $130 a barrel.
BUSINESS
May 15, 2008 | From Times Wire Services
UAL Corp.'s United Airlines and Continental Airlines Inc., the carriers that broke off merger talks last month, are in discussions to form an alliance able to set pricing and schedules, people familiar with the matter said. The effort is separate from United's negotiations with US Airways Group Inc. on a possible merger, said the people, who asked not to be named because the talks are private. United will pick one of those choices or stay independent, the people said. An alliance with antitrust immunity to collaborate on fares would provide most of the benefits of a merger while skirting regulatory challenges as well as the need to mesh workforces.
BUSINESS
March 28, 2008 | From Times Wire Services
UAL Corp., parent company of United Airlines, must pay $27.2 million to bondholders who helped finance the renovation of its San Francisco International Airport facilities, a federal judge ruled. United lost its attempt in a 2006 ruling in Bankruptcy Court to reduce the amount by roughly $7.5 million. U.S. District Judge John Darrah in Chicago upheld a lower court's opinion.
CALIFORNIA | LOCAL
June 10, 1985
The tragedy is that they'll go on believing they're right and lose their jobs at the same time. I'm talking about the pilots of United Airlines and others who have joined them in sympathy, in their walkout against the company. Unfortunately, although from a different perspective, I know whereof I speak. As a mid-level management employee of 10 years standing, I used to work as the manager of publicity for an airline that longtime employees proclaimed with honor as "The Proud Bird With the Golden Tail."
BUSINESS
September 17, 1985
J. P. Guerin, 55, the largest single shareholder of San Diego-based PSA Inc., on Monday was elected chairman of the board of the parent corporation of Pacific Southwest Airlines, according to an airline spokesman. Guerin owns about 80% of Pacific Partners and Mitchum Management Corp., two Los Angeles-based companies that in turn own 11% of PSA Inc.'s stock, a PSA spokesman said. The position of chairman has been vacant since William R. Shimp died in May, 1984.
BUSINESS
January 23, 2008 | From Times Wire Services
United Airlines parent UAL Corp. reported a $53-million loss for the fourth quarter Tuesday on a sharp rise in the price of fuel and bad weather that forced a raft of holiday flight cancellations. The loss was less than expected but nevertheless reflected the damage that high oil and jet fuel costs are doing to the bottom line of the nation's second-largest carrier and other U.S. airlines. Chief Executive Glenn Tilton, who has long expressed interest in pairing United with another airline, was mum about talks widely reported to be underway with Delta Air Lines Inc., which is looking at potential combinations with United or Northwest Airlines Corp.
BUSINESS
July 25, 2007 | From Times Wire Services
UAL Corp. said second-quarter profit more than doubled as refinancing cut interest expenses and its United Airlines increased traffic and spent less on labor and fuel. Net income climbed to $274 million, or $1.83 a share, from $119 million, or 93 cents, a year earlier, Chicago-based UAL said. Sales rose 2% to a record $5.21 billion. UAL posted its first profit in three quarters by revamping debt, trimming United's workforce 3.9% and reducing fuel costs through hedges.
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