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BUSINESS
August 19, 1994 | From Times Staff and Wire Reports
USAir Group Inc.'s customer service employees rejected union representation amid company efforts to reduce labor costs by about $500 million annually. . . . Mercedes-Benz of North America said U.S. prices of its 1995 models will be an average of 1.9% lower than final 1994 model prices, on a sales-weighted basis.
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BUSINESS
January 23, 1997 | From Times Wire Services
Compaq Computer Corp. said Wednesday that its fourth-quarter earnings rose 43%, far exceeding estimates, on increased sales of computers to corporate customers and improvements in operating efficiency. The No. 1 personal computer and server maker said net income rose to $462 million, or $1.64 a share, from year-earlier profit from operations of $323 million, or $1.17. Revenue rose 15% to $5.42 billion from $4.7 billion.
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BUSINESS
January 10, 1997 | From Associated Press
USAir Group Inc. is asking its pilots to allow a low-cost airline service that would help it compete against Southwest Airlines Co. and others, sources said Thursday. USAir wants the union's approval to create an airline within an airline that would make up 40% of its flying time, said sources who have seen a union briefing document on the subject. They spoke on condition of anonymity.
BUSINESS
August 4, 1994 | From Times Staff and Wire Reports
USAir Pilots Offer Restructuring Proposal: The USAir Master Executive Council of the Air Line Pilots Assn. International put forth a sweeping plan offering $750 million in wage concessions in exchange for a 25% employee stake in Arlington, Va.-based USAir Group Inc. The action came in response to a USAir proposal to cut annual operating expenses by $1 billion through labor and other means.
BUSINESS
January 23, 1996 | From Times Wire Services
USAir Group Inc. reported a profit Monday in the fourth quarter on higher revenue and continued cost cutting, turning around from a year-ago loss and posting its first annual profit since 1988. The Arlington, Va.-based airline said net income totaled $60.3 million, or 61 cents a share, contrasted with a loss of $322 million, or $5.63, a year earlier. Wall Street expected 43 cents a share.
BUSINESS
September 28, 1992 | From Times Staff and Wire Reports
Union Urges Rejection of USAir Contract Offer: The International Assn. of Machinists and Aerospace Workers urged its 8,300 members at USAir Group Inc. to reject the company's final contract offer and vote to strike. The airline could face a strike by next weekend if the contract offer is rejected and union workers authorize a strike. The machinists have been working without a contract since March, 1990.
BUSINESS
October 22, 1996 | From Times Wire Services
RJR Nabisco Holdings Corp. said Monday that its third-quarter earnings rose only slightly as slumping U.S. cigarette sales offset higher international sales. The New York-based maker of Camel and Winston cigarettes, Oreo cookies and Ritz crackers said profit from operations rose to $233 million, or 68 cents a share, from $232 million, or 61 cents, a year earlier. The company had been expected to earn 69 cents a share, based on the average estimate of analysts surveyed by First Call.
BUSINESS
July 25, 1996 | From Times Wire Services
Compaq Computer said Wednesday that it boosted earnings 9% in the second quarter, beating expectations by squeezing more profit out of each machine it sold. The Houston-based company's top executive also forecast a strong second half of the year, giving a lift to the company's stock. Compaq shares closed up $3.25 to $48.25, a 7% gain, in trading on the New York Stock Exchange. Compaq said it earned $267 million, or 96 cents per share, in the quarter ended June 30.
BUSINESS
April 17, 1996 | From Associated Press
The new chairman of USAir Group Inc. is telling employees the airline probably cannot survive as an independent company and should merge or ally with another carrier, union representatives said Tuesday. Stephen M. Wolf told union members and managers that the nation's fifth-largest carrier may buy another airline or merge with a larger carrier, said Michael Gearing, spokesman for the Air Line Pilots Assn.'s USAir division.
BUSINESS
January 23, 1996 | From Times Wire Services
USAir Group Inc. reported a profit Monday in the fourth quarter on higher revenue and continued cost cutting, turning around from a year-ago loss and posting its first annual profit since 1988. The Arlington, Va.-based airline said net income totaled $60.3 million, or 61 cents a share, contrasted with a loss of $322 million, or $5.63, a year earlier. Wall Street expected 43 cents a share.
BUSINESS
November 14, 1995 | From Associated Press
United Airlines said Monday that it will not seek to acquire USAir Group Inc., the nation's fifth-largest carrier, avoiding a potential bidding war for leadership in the domestic market. The decision by directors of UAL Corp., United's parent company, had been predicted by many industry analysts who said a merger would be more costly and require more worker concessions than UAL's employee owners would tolerate.
BUSINESS
October 19, 1995 | From Times Wire Services
USAir Group Inc. said it earned its first third-quarter profit in seven years on record revenue. The Arlington, Va.-based airline earned net income of $43.1 million, or 35 cents a share, compared to a loss of $180.1 million, or $3.32 per share, a year ago. Revenue rose 6.9% to $1.87 billion from $1.75 billion. The results outdid Wall Street expectations. USAir was expected to post a loss of 49 cents a share, according to a survey of 12 analysts for Zacks Investment Research.
BUSINESS
October 3, 1995 | JAMES F. PELTZ, TIMES STAFF WRITER
USAir Group Inc., the loss-ridden parent of the nation's sixth-largest airline, disclosed Monday that it may be acquired by United Airlines or American Airlines, the nation's two dominant carriers. USAir said in a statement it has held preliminary discussions with both airlines, but added it that is too early to tell whether any agreement will be reached. USAir made the disclosure amid fears that word of the talks was beginning to leak out.
BUSINESS
September 7, 1995 | Times Staff and Wire Reports
USAir Chairman to Retire: A day after forecasting a surprising profit for the year, USAir Group Inc. announced that Chairman and Chief Executive Seth Schofield would retire. Schofield, 58, who worked his way up from a baggage handler and spent 38 years at USAir, agreed to stay on until a successor is named. The board formed a committee of non-management directors to conduct a search. The Arlington, Va.
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