RadioShack is evaluating a $585 million financing package led by UBS AG and hedge fund Standard General LP it tries to avert bankruptcy.» Read More
BOSTON, Sept 16- The California Public Employees Retirement System handed fellow U.S. pension funds a hefty club to beat down hedge fund fees and demand better returns this week when it voted to pull out of hedge funds entirely, investors said.
NEW YORK— Washington Prime Group Inc., which spun off from mall operator Simon Property Group earlier this year, said Tuesday that it is buying rival Glimcher Realty Trust. Washington Prime that it will pay $14.20 in cash and stock for each share of Glimcher, a 34 percent premium from its closing price of $10.59 Monday.
FORT WORTH, Texas— RadioShack's chief financial officer has resigned after less than a year in the position. RadioShack warned last week that it may need to file for Chapter 11 bankruptcy protection. Standard& Poor's Ratings Services cut RadioShack's corporate credit rating further into junk territory on Thursday.
FORT WORTH, Texas— The oil and gas boom and millions of new consumers have propelled revenue growth in Texas to nearly twice the national average. "Even for Texas, the growth rate is almost unsustainable," Pia Orrenius, a vice president and senior economist at the Dallas Federal Reserve, told The Associated Press.
Sept 12- RadioShack Corp is evaluating a $585 million financing package led by UBS AG and hedge fund Standard General LP as the U.S. electronics retailer tries to avert bankruptcy, the Wall Street Journal reported, citing people familiar with the matter.
Sept 12- RadioShack Corp confronts an uncomfortable fact as it considers filing for bankruptcy to give it time to overhaul its 4,400 electronics stores: Retailers rarely emerge from bankruptcy.
NEW YORK— RadioShack's credit rating was downgraded by Fitch Ratings Friday, a day after the electronics retailer warned it may need to file for Chapter 11 bankruptcy protection. Fitch said cut RadioShack's issuer default rating one notch to "C'' from" CC, "which puts the retailer's credit rating one level above default.
Launched in 2006 to a flurry of media coverage, the Mountain View, California- based company seemed to have every strategic advantage: millions in startup cash, celebrity endorsements, and a chief executive married to one of the co-founders of Google. RadioShack warns of possible Chapter 11 bankruptcy.
The 42- mile line would cost an estimated $400 million and provide access to the proposed Otter Creek coal mine near the Wyoming- Montana border. The Tongue River Railroad is co-owned by Otter Creek developer Arch Coal Inc. of St. Louis, BNSF Railway of Fort Worth, Texas, and candy-industry billionaire Forrest Mars Jr..
OMAHA, Neb.— A railroad union has rejected a deal with BNSF that would have allowed one-person crews on as much as 60 percent of its tracks. The Sheet Metal, Air, Rail and Transportation Workers union voted against the contract this week, according to a notice sent to members late Wednesday.
FORT WORTH, Texas— RadioShack Corp. on Thursday reported a fiscal second-quarter loss of $137.4 million. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 60 cents per share. Analysts expected $742.1 million, according to Zacks.
NEW YORK— RadioShack warned Thursday that it may need to file for Chapter 11 bankruptcy reorganization if it can't rework its debt or find another way to ease a cash crunch. RadioShack, which is based in Fort Worth, Texas, has been working on turning around its business for the past 18 months.
FORT WORTH, Texas— Production from the natural gas-rich Barnett Shale in North Texas has risen even as drilling activity and natural gas prices have fallen, according to a study commissioned by the Fort Worth Chamber of Commerce released Wednesday.
TACOMA, Wash.— A Tacoma business plans to raise one of the largest flagpoles in the Northwest. The company plans to dedicate the flagpole to veterans in October, The News Tribune reported. A webcam will stream 360- degree views of the surrounding area from Puget Sound to Mount Rainier.
FORT WORTH, Texas— Passenger traffic on American Airlines and US Airways was nearly flat last month, and the carrier expects that a key revenue figure will grow no more than 2 percent for the third quarter. American Airlines Group Inc. said Tuesday that passengers flew 20.02 billion miles last month, only 8 million miles more than August 2013.
FORT WORTH, Texas— Some employees at American Airlines subsidiary Envoy Air will likely lose their jobs as American shrinks the regional carrier. American Airlines said Thursday that it will shift 47 regional jets from Envoy to another of its regional carriers, PSA Airlines.
TORONTO, Aug 15- More than eight months after an extreme winter began snarling North American rail traffic, a Reuters analysis of industry data shows delays lingering, raising the risk of a second winter of chaos on the rails.
LONDON, Aug 12- From modest beginnings in the Barnett shale beneath the city of Fort Worth, unnoticed by most energy analysts, horizontal drilling and hydraulic fracturing spread across North America and transformed all aspects of the energy landscape in under 10 years.
Singapore, Greece among F-16 upgrade opportunities. FARNBOROUGH, England, July 14- Europe's largest defense contractor BAE Systems expects to win more than half of the $10 billion market to modernize F-16 fighter jets, saying its cost-effective offering could give it an edge in the battle with Lockheed Martin.
The estimated value of the missile deal was $82 million.- It has delivered to Iraq 24 IA-407 armed reconnaissance helicopters.- It has provided Iraq with sniper rifles, M-16 rifles, M-4 rifles, millions of rounds of small arms ammunition and thousands of tank rounds.- Ten Scan Eagle reconnaissance drones, launched with a trailer-mounted pneumatic catapult, are to be delivered to Iraq later in the year.- U.S. special operations forces began a month of counterterrorism training for a group of Iraqi military troops on Monday in Jordan.