Browsed by
Month: September 2024

Southwest Airlines spells out changes designed to boost profit and fend off a hedge fund

Southwest Airlines spells out changes designed to boost profit and fend off a hedge fund

By DAVID KOENIG

DALLAS (AP) — Southwest Airlines executives on Thursday unveiled their vision for Southwest 2.0, an airline that for the first time will give passengers assigned seats, charge them extra for more legroom and offer red-eye flights but bags still will fly free.

The airline announced that it plans to end the open-boarding system it has used for more than 50 years and start flights with assigned seats during the first half of 2026 as it responds to shifting consumer tastes and tries to reverse a three-year slump in profits.

CEO Robert Jordan and other Southwest executives outlined the future refresh during an investor meeting in Dallas where they tried to convince shareholders that they can increase revenue by winning over younger and more affluent customers.

The moves away from Southwest’s simple business model and quirky traditions come as airline management faces pressure from activist investor Elliott Investment Management. The hedge fund blames management for Southwest’s recent underperformance compared with its closest rivals, and wants to replace Jordan and most of the Southwest board. read more

5 ways a business credit card can help your business grow

5 ways a business credit card can help your business grow

You can use a business credit card for many purchases, and doing so can help your company stay on top of cash flow and earn rewards to boot.

“If you are starting a new business and you are generating business expenses, it’s a good time to get a business credit card,” says Raul Vasquez Hernandez, a senior business development officer at small-business lending nonprofit TruFund.

No matter what stage of growth your business is in, here’s how to get the most out of your card — without leaning on it too hard.

1. Accessing capital as a startup

New businesses typically don’t qualify for small-business loans; most lenders want to see a year or two of revenue history before approving your application. Business credit card requirements are less stringent, not necessarily requiring any revenue.

If you have a good or excellent personal credit score (typically a FICO score of 690 and above), you can probably open a business credit card right away. A 0% APR intro period offers you extra time to pay down your bill before you owe interest. read more

Recent Central Florida bankruptcies

Recent Central Florida bankruptcies

Chapter 11

Central Florida individuals and businesses that have filed for reorganization and protection from creditors under Chapter 11 of the U.S. Bankruptcy Code include:

TAG FL LLC, 13202 Triphammer Way, Orlando. Filed: Sept. 13. Assets: $1,500,000. Liabilities: $2,944,096. Major creditors: Tarek Aly, Gainesville, $2,100,000. Creditors meeting: Oct. 21.

Hawkers Intermediate LLC, 54 W. Church St., Suite 250, Orlando. Filed: Sept. 16. Assets: $10,000,001-$50 million. Liabilities: $10,000,001-$50 million. Major creditors: Not available. Creditors meeting: Oct. 17.

Hawkers Topco LLC, 54 W. Church St., Suite 250, Orlando. Filed: Sept. 16. Assets: $10,000,001-$50 million. Liabilities: $10,000,001-$50 million. Major creditors: Not available. Creditors meeting: Oct. 17.

Hawkers Growth Fund I LLC, 54 W. Church St., Suite 250, Orlando. Filed: Sept. 16. Assets: $10,000,001-$50 million. Liabilities: $10,000,001-$50 million. Major creditors: Not available. Creditors meeting: Oct. 17.

Hawkers Growth Fund II LLC, 54 W. Church St., Suite 250, Orlando. Filed: Sept. 16. Assets: $10,000,001-$50 million. Liabilities: $10,000,001-$50 million. Major creditors: Not available. Creditors meeting: Oct. 17. read more