A nice little story came out a couple of weeks ago but hasn't gotten much press, what with stimulus packages and "bad banks" and Jessica Simpson's alleged weight gain. Richard Branson, eccentric billionaire and founder of Virgin Atlantic Airways, is reaching out to Captain Chesley "Sully" Sullenberger, the pilot of US Airways Group (NYSE: LCC) Flight 1549, in hopes of putting the hero on the Virgin payroll.

Branson told a New York Daily News reporter, "We'll make him the best-paid pilot at Virgin -- we'll give him double [the salary of] anybody else. He also can become one of the astronauts in my intergalactic spaceship company. The man can write his own ticket with me ..." In response, a flattered "Sully" said he is weighing his options, which recently included a cover shot on People magazine.

Continue reading Richard Branson courts Captain Sully: What's a hero worth?

Richard Branson courts Captain Sully: What's a hero worth? originally appeared on BloggingStocks on Sun, 15 Feb 2009 09:40:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• In an effort to increase sales in the Middle East, the Wall Street Journal reported that Dell Inc (NASDAQ: DELL) is in talks with a government-owned vehicle in Dubai called Tecom about establishing a joint venture.
• The Wall Street Journal also reported that Washington Mutual Incorporated (NYSE: WM), which obtained a $7B capital infusion from TPG and other investors, had reportedly been working on the TPG deal while negotiating with JP Morgan Chase & Co (NYSE: JPM), which made a preliminary takeover bid of about $7B, people familiar with the deal said.
• Citigroup Incorporated (NYSE: C) is close to reaching a deal to sell $12B in leveraged loans at a discount to a group of leading private equity firms, the Financial Times reported. Although details of the deal were still being worked out, inside sources said Apollo Management, The Blackstone Group LP (NYSE: BX) and TPG would buy the loan portfolio at a discount that could come in at about 90 cents on the dollar.

• The UK Times reported that The Boeing Company (NYSE: BA) is today expected to announce that its 787 Dreamliner has been delayed by 18 months, a setback which will affect all airlines that have ordered the 787, including British Airways Plc (OTC: BAIRY) and Virgin Atlantic.

Newspaper wrap-up: Citigroup closing in on deal to sell $12B of its leveraged loans originally appeared on BloggingStocks on Wed, 09 Apr 2008 08:00:00 EST. Please see our terms for use of feeds.

This post is one of several on business heirs apparent. Let us know in the comments whether you think Sam Branson should take up the reigns of Virgin, and be sure to check out the other heir apparent posts.

One might say Sam Branson is a fortunate son, born into a life of money, leadership, and rock-and-roll. His father, whimsical billionaire Richard Branson, carries a net worth of $3.8 billion and maintains a fleet of Virgin-branded enterprises. Branson built this umbrella of companies from the ground up starting nearly 40 years ago.

The Virgin brand soared to prominence in the early 1980s as a record label featuring such acts as the Rolling Stones and Janet Jackson. Ahead of the bubble burst for the compact-disc industry, Branson unloaded this arm of the Virgin empire in 1992, focusing on his pet project -- Virgin Atlantic Airways, which launched in 1984.

Other Virgin progeny include pay-as-you-go mobile-phone service Virgin Mobile (sold to NTL for about 1 billion pounds in July 2006) and Virgin Fuels, which seeks to develop environmentally friendly and cheaper fuel sources for automobiles and airplanes.

Branson's sense of adventure, critical in his business ventures, has also taken him into and across the world's oceans. He has broken speed records in both boat and hot-air balloon, and recently boarded an amphibious vehicle to cross the English Channel in record time.

Continue reading Heir apparent: Will Sam Branson keep Virgin Atlantic flying high?

Heir apparent: Will Sam Branson keep Virgin Atlantic flying high? originally appeared on BloggingStocks on Tue, 18 Mar 2008 14:48:00 EST. Please see our terms for use of feeds.

Virgin America to introduce 'premium economy class' originally appeared on BloggingStocks on Thu, 16 Aug 2007 20:15:00 EST. Please see our terms for use of feeds.

Continue reading Virgin America enters U.S. airspace -- What does that mean for U.S. airlines?

Virgin America enters U.S. airspace -- What does that mean for U.S. airlines? originally appeared on BloggingStocks on Thu, 19 Jul 2007 18:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal (subscription required) reported that Hewlett-Packard Company (NYSE: HPQ) has pushed into the high-end copier market with two new multi-function color printers.
• According to people close to the matter, Sir Richard Branson's Virgin Atlantic Airways has agreed to but up to 24 of Boeing Company's (NYSE: BA) 787 Dreamliners, reported the Wall Street Journal.

• The Economic Times reported that US investment bank Lehman Brothers Holdings Inc (NYSE: LEH) will invest almost $80M in an Indian special economic zone, or SEZ, and may invest up to $300M in the venture.
• The Globe and Mail reported that Bed Bath & Beyond Inc (NASDAQ: BBBY) is looking for store locations in Canada, according to industry sources.

• TheDeal.com (subscription required) speculated that the proposed buyout of LaSalle Bank by Bank of America Corporation (NYSE: BAC) could catalyze a slew of bank acquisitions in the Chicago market, with possible acquirers including Fifth Third Bancorp (NASDAQ: FITB) and National City Corporation (NYSE: NCC), and possible targets including TCF Financial Corp (NYSE: TCB).
• DigiTimes.com reported that the VP of Taiwan Semiconductor Manufacturing Company (NYSE: TSM) reportedly said that a buyout of Semiconductor Manufacturing International Corporation (NYSE: SMI) by private equity firms would be positive.

Newspaper wrap-up 4-24-07: Virgin Airways to buy up to 24 Boeing jets originally appeared on BloggingStocks on Tue, 24 Apr 2007 09:20:00 EST. Please see our terms for use of feeds.

Here are what I see as the top ten business stories for the week ending Dec. 8:

Foul Ball: MasterCard Incorporated (NYSE:MA) has won its lawsuit against the world soccer body FIFA. The credit card company took FIFA to court to protest its trying to end MasterCard's sponsorship of the World Cup in favor of rival Visa. The federal judge ordered FIFA to drop its planned eight-year deal with Visa and instead return to MasterCard for the 2007 to 2014 period. MasterCard, which has sponsored the World Cup since 1990, said it had right of first refusal on a future deal. Visa's deal was set to begin in January 2007. FIFA said it will appeal.
Read the story.

Virgin Air: Sir Richard Branson's Virgin Atlantic Airways Limited is to conduct a trial using 13 of its planes which could cut aviation fuel use and slash carbon dioxide emissions. By towing its Boeing 747-400 aircraft to take-off areas at London airports during December, it said it could save up to two tons of fuel per flight. Aircraft will be towed to Heathrow and Gatwick runways to cut fuel burning. Virgin said a reduction of 120,000 tons in carbon emissions a year could be made if extended across its fleet. Read the story.

The Other Half: The richest 2% of adults in the world own more than half of all household wealth. According to a new study by a United Nations research institute, the poorer half of the world's population own barely 1% of global wealth and the richest 2% of adults in the world own more than half of all household wealth. There have been many studies of worldwide inequality but this latest takes into account all countries. The report also focuses on wealth, where most previous research has looked at income. Read the story.

Continue reading Top ten business stories for the week ending Dec. 8

Top ten business stories for the week ending Dec. 8 originally appeared on BloggingStocks on Fri, 08 Dec 2006 15:50:00 EST. Please see our terms for use of feeds.