The DoJ has filed suit to block the merger of US Air and American Airlines, because they've noticed that while the airlines' executives publicly gave the reason for the merger as "synergies" and efficiency, they told the industry that the merger would allow them to jack up prices and charge more fees. Pictured to the right, Scott Kirby the US Air President who took to the podium at a conference to say it was "impossible to overstate the benefit" of the new fees he'd be able to charge after a merger.
The suit hearkens back to the time in 2011 when US Airways President Scott Kirby said that industry consolidation had made it possible for airlines to then successfully complete three airfare hikes that year, reports the Associated Press’ Scott Mayerowitz. And then in 2012 he spoke at an industry conference, saying it’s “impossible to overstate the benefit” of mergers in giving airlines the ability to impose new fees.
Past Statements About Moneymaking Mergers Returning To Bite Airline Execs In The Behind
Wang Jianlin made billions speculating on Chinese real-estate; now that he’s diversified into buying Hollywood movie studios and chains of movie theaters, the richest man in China is prepared to say what many have known: the Chinese property market is a huge, deadly bubble that’s ripe to burst.
Wells Fargo’s Board of Directors have finally exercised their right to claw back part of the hundreds of millions of dollars taken home by two senior executives who were compensated on the basis of the fraudulent earnings the bank took in while opening 2,000,000 secret accounts in their customers’ names, taking money out of those […]
Yesterday, Google announced “Youtube Go,” an “offline first” version of the popular video service designed for the Indian market where internet coverage is intermittent, provided by monopolistic carriers that have a history of network discrimination, and where people have a wide variety of devices, including very low-powered ones.
#1. A-Audio Legacy Noise Cancelling Headphones with 3-Stage Technology The A-Audio Legacy Headphones are the Boing Boing Store’s best seller this month, and it’s easy to see why. With 40mm drivers, powerful circuitry, and memory foam padded circumaural ear cups, these are clearly super high-quality headphones. Plus, the patented 3-Stage Technology lets you toggle between passive […]
Vaping is getting more mainstream by the day, which means there’s been an influx of quality yet affordable vaporizers on the market. We’re particularly excited about the APX Wax Vaporizer Kit, which is an easy-to-use, high-quality vape that works with both dry herbs and waxy concentrates.If you’re a beginner trying to get into vaping, the APX […]
When you’ve had a long day and it’s time to unwind, there’s a lot you can do to relax: drink some tea, take a shower or even read a book. But there’s one thing that’s essential to a comfortable night’s rest—and that’s investing in some really good sheets. Enter Bamboo Bed Sheets. These quality sheets retail for $120, but […]