Bob Jordan, CEO of Southwest Airlines, listens to questions from media during Southwest Airlines Investor day at Southwest Airlines Headquarters on September 26 in Dallas (Sam Hodde for The Washington Post via Getty Images)

Southwest hasn't pulled out of the turbulence yet, but it gets to keep its pilot

Meanwhile, former CEO Gary Kelly, who’s currently executive chairman, “will accelerate his retirement” in a deal with activist investors.

J. Edward Moreno

10/24/24 9:54AM

Southwest Airlines said Thursday that it reached a deal with activist investor Elliott Investment Management that would allow CEO Bob Jordan to keep his job, avoiding a brewing proxy fight.

The deal adds six new directors, five of them picked by Elliott, to the airline’s board, which will be reduced to 13 members next year. They include Pierre Breber, the former chief financial officer of Chevron, and David Cush, former CEO of Virgin America.

Elliott was reportedly pushing to oust Jordan. While he was able to keep his job, former longtime CEO and current executive chairman Gary Kelly “will accelerate his retirement” and walk out the door November 1.

Airlines went through a rough patch during the pandemic, taking on loads of debt while revenue dropped. But Southwest hasn’t enjoyed the same level of postpandemic recovery that its peers have.

Southwest’s share price took a beating before Elliott announced a $2 billion stake in June. The company recently said it would scrap its love-it-or-hate-it cattle-call boarding in favor of assigning seats like other airlines.

There may be a light at the end of the tunnel: the company reported better-than-expected earnings on Thursday.

Max Knoblauch

As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators

Nia Warfield

Netflix taps Amazon to sell streaming ads in new partnership

Starting this fall, brands will be able to access Netflix’s premium ad slots using Amazon’s buying tech.

Millie Giles

WITHDRAWALS

14h

Bank branches are still closing at breakneck speed in the US

Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III

Nia Warfield

9/9/25

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

385 ✈️ 434

Max Knoblauch

9/9/25

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

Southwest hasn't pulled out of the turbulence yet, but it gets to keep its pilot

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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

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