Spirit Airlines recently announced that it will be deferring deliveries of new Airbus planes in an effort to boost liquidity and ensure a strong and profitable future for the company. The CEO, Ted Christie, stated that although these steps are not ones they want to take, they are necessary for the long-term sustainability of Spirit
Business
As Gatorade celebrates its upcoming 60th anniversary, the brand is not slowing down but rather expanding into new categories such as unflavored water and energy drink mixes. Since its establishment in 1965, Gatorade has maintained its position as the dominant sports drink, capturing 63.5% of the U.S. sports drink market in 2023. However, as competition
Boeing CEO Dave Calhoun’s take-home pay dropped significantly to $5 million last year after forgoing a bonus, a notable decrease from the $7 million he received in 2022. This decline in compensation can be attributed to the lingering safety crisis surrounding Boeing’s popular jetliner, the 737 Max. Calhoun’s total compensation increased by 45% to $32.8
In the midst of pandemic shutdowns and Hollywood labor strikes, The Walt Disney Company has faced challenges with its theatrical business. Productions were stalled, and moviegoers’ habits shifted, leading to revenue woes for the company. CEO Bob Iger acknowledged that the quality of Disney’s films suffered due to the focus on churning out a large
The integration of artificial intelligence (AI) in weather forecasting has been a game-changer in recent years. With the advancement of generative AI technology, the accuracy of weather predictions has the potential to reach new heights. Spire Global, a company specializing in radio frequency sensing, has made a strategic move by partnering with industry giant Nvidia.
Ford Motor’s recent announcement to delay production of a new all-electric large SUV and pickup truck has raised eyebrows in the automotive industry. The Detroit automaker has decided to postpone the production of the three-row SUV at a plant in Canada to 2027, pushing it back from the initial plan of 2025. Similarly, the next-generation
Disney shareholders recently reelected the media conglomerate’s full board in a move that dealt a blow to activist Nelson Peltz and former Marvel CEO Ike Perlmutter. Despite the efforts of Peltz-led Trian Partners to push for change within the company, the board’s decisions, including the reinstatement of CEO Bob Iger and efforts to rejuvenate the
In a recent report by Bloomberg News, it was revealed that Disney’s largest shareholder, index fund manager Vanguard, intends to back management over Nelson Peltz’s Trian Partners in the upcoming board vote. Vanguard’s significant ownership, holding 7.8% of Disney shares, highlights the influence that institutional shareholders can have on crucial decisions within a company. Following
The spring housing market is facing unexpected challenges this year, as prices continue to rise and competition remains fierce. Despite higher mortgage rates, which typically cool the market, home prices have continued to climb due to a shortage of available homes for sale. This shortage is primarily caused by current homeowners who are reluctant to
General Motors experienced a 1.5% decline in first-quarter U.S. vehicle sales compared to the previous year, reflecting the normalization of the auto industry after years of disruptions and volatile results. The Detroit automaker attributed this decrease to a significant 22.9% year-over-year decline in sales to fleet customers, while retail sales to individual customers saw a