Sunbeam to provide U.S. pension agency with letters of credit

Article Abstract:

Sunbeam Corp. has reached an agreement to provide $20 million in letters of credit to Pension Benefit Guaranty Corp. The letters of credit are intended to strengthen three pension plans that are believed to have been underfunded by as much as $32 million. Pension Benefit, a federal company, stated that the letters of credit are connected to Sunbeam's downsizing project in 1996. Sunbeam at the time, eliminated 6,000 jobs in the project.

Comment:

Sunbeam reaches agreement to provide $20 million in letters of credit to Pension Benefit Guaranty

Public Finance Activities, Receipt of funds, Company Planning/Goals, Use of Funds, Electric Housewares and Household Fan Manufacturing, Legal/Government Regulation, Electric Housewares & Fans, Pension Benefit Guaranty Corp, American Household Inc., Small appliances, Pension Benefit Guaranty Corp., Article

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Delta, aiming to improve Atlanta hub, to buy ASA, commuter feeder airline

Article Abstract:

Delta Airlines operates the busiest hub in the world out of Atlanta and so it wants to buy full control of its commuter feeder, ASA Holdings' Atlantic Southeast Airlines. It has offered $34 per share or about $700 million to acquire the remaining 72% of ASA that it doesn't already own. Shareholders would like to see a higher offer; on the other hand, Delta would like to see more reliable service from the feeder.

Comment:

Delta Air Lines to to acquire remaining interest for $700 million

Asset sales & divestitures, Acquisitions & mergers, Scheduled Passenger Air Transportation, Air transportation, scheduled, Local Air Service, Mergers, acquisitions and divestments, Airlines, Abstract, Delta Air Lines Inc., DAL, Regional airlines, Atlantic Southeast Airlines Inc., ASAI, ASA Holdings Inc.

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