DALLAS (AP) — Activist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of...
DALLAS — Activist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems.In a letter to Southwest's board, the investment firm complained that Southwest's stock price has dropped more than 50% in the last three years.
Elliott said that CEO Robert Jordan “has delivered unacceptable financial and operational performance quarter after quarter." It said Jordan and former CEO Gary Kelly, now the airline's executive chairman, "are not up to the task of modernizing Southwest.” “The Southwest Board of Directors is confident in our CEO and management’s ability to execute against the company’s strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders,” a spokesperson said in a statement.Many investors watch Warren Buffett's trades, hoping to duplicate the success of the so-called "Oracle of Omaha.
-- Prime Minister Justin Trudeau’s government will call for a vote this week on a planned hike in the capital-gains tax inclusion rate, a measure that would raise billions in additional government revenue and has attracted the ire of Canada’s business community.
Southwest Elliott Investment Management Robert Jordan Investment Firm Activist Shareholder
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
American Airlines shares sink after carrier cuts profit forecast for current quarterThe drop in shares also dragged down peers Delta Air, Southwest Airlines and United Airlines
Read more »
Southwest Airlines stock pops on report of Elliott's $2B stakeElliott has built a nearly $2 billion stake in Southwest Airlines (LUV), becoming one of the airline's largest investors. Elliott has issued a note calling...
Read more »
Southwest Airlines jumps after report of Elliott's $2 billion stakeAccording to the Journal's report on Sunday, Elliott is one of Southwest's largest investors and plans to push for changes aimed at reversing the airline's...
Read more »
Elliott takes nearly $2 billion stake in Southwest Airlines, WSJ reportsElliott is one of Southwest's largest investors and plans to engage with the airline's management team, the report said. Southwest and Elliott did not...
Read more »
Southwest Airlines is back in court over firing of flight attendant with anti-abortion viewsNEW ORLEANS (AP) — Southwest Airlines is set to return to federal court Monday in hopes of reversing an $8000,000 award to a flight attendant who said she...
Read more »
People Have Had Enough Of Southwest Airlines’ “Miracle Flights” ScamSouthwest Airlines is being accused of having a passive attitude towards individuals who fake mobility issues to gain priority boarding.
Read more »