Big Business
Associated Press/Photo by Ed Betz

Southwest Airlines co-founder Kelleher dies

by Kent Covington
Posted 1/04/19, 11:02 am

Herb Kelleher, the eccentric co-founder of Southwest Airlines, died Thursday. He was 87. Not many CEOs dress up as Elvis Presley, settle a business dispute with an arm-wrestling contest, or appear on TV wearing a paper bag over their head, but Kelleher did all of those things. And along the way he practically invented the low-fare airline sector. Kelleher became Southwest’s chairman in 1978 and CEO in 1982, leading the company through its period of greatest growth. He stepped down as chief executive in 2001 and retired as chairman seven years later.

Read more

Associated Press/Photo by Eduardo Lima/The Canadian Press

GM to cut 14,000 jobs

by Lynde Langdon
Posted 11/26/18, 12:34 pm

General Motors announced Monday plans to lay off up to 14,000 factory and white-collar workers in North America and possibly close five plants. The reduction includes about 15 percent of the company’s North American white-collar workers, some of whom will take buyouts and others who will be laid off. Some U.S. factory workers could transfer to truck or SUV factories that are increasing production. GM CEO Mary Barra told reporters the move was a response to shifts in the auto industry, which is moving toward electric propulsion, autonomous vehicles, and ride-sharing.

Read more

Associated Press/Photo by Michel Euler

Nissan chairman arrested for financial misconduct

by Kiley Crossland
Posted 11/20/18, 11:42 am

Authorities in Japan on Monday arrested Nissan Motor Co. Chairman Carlos Ghosn on charges he underreported his income and misused company funds. Prosecutors said they were holding Ghosn, 64, and another Nissan executive, Greg Kelly, for collaborating to falsify securities statements and underreport $44.6 million in income from 2011 to 2015. Ghosn is also chairman and CEO of the Renault-Nissan alliance, which formed in 1999 and allows both companies to share engineering and technology costs. Mitsubishi joined the alliance two years ago.

Read more