Newspaper wrap-up: Delta pilots agree to changes, clears way for merger

Posted Apr 11th 2008 9:15AM by Laurie Pasternack
Filed under: Newspapers, Magazines, General Motors (GM), Delta Air Lines (DAL)

MAJOR PAPERS:

• According to people familiar with the matter, the Wall Street Journal reported that home-furnishings retailer Linens 'n Things, acquired by Apollo Management in 2006 and caught by a shrinking housing market and increasing debt load, is expected to file for Chapter 11 bankruptcy-court protection by Tuesday.

OTHER PAPERS:

• The Detroit News reported that Delta Air Lines Inc (NYSE: DAL) pilots have agreed to a contract revision that clears the way for Delta and Northwest Airlines Corporation (NYSE: NWA) to announce a merger next week, according to sources close the matter.
• The United Auto Workers union notified General Motors Corporation (NYSE: GM) of its deadline to strike three factories in Michigan if the two are unable to agree on local labor pacts, the Detroit News reported.
• The Business Standard reported that Toyota Motor Corporation (NYSE: TM) is planning to invest Rs 1,400 crore in Toyota Kirloskar Motor, its India subsidiary to set up its second plant in the country.

Tags: Apollo, Apollo Management, ApolloManagement, bankruptcy, DAL, Delta, Delta Air Lines, DeltaAirLines, General Motors, GeneralMotors, GM, India, linens n things, LinensNThings, northwest, northwest airlines, NorthwestAirlines, NWA, TM, Toyota, toyota motor, ToyotaMotor