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Delta says no decision imminent on Comair sale
Delta, the No. 3 U.S. carrier, has been considering the sale of Comair since exiting bankruptcy at the end of April 2007, but has yet to close a deal. The Financial Times reported on Sunday that Delta has put the sale of Comair on hold as it explores its strategic options, including mergers. Buyers may also be scarce. Regional carriers face a tough market, with U.S. airlines looking to cut costs as oil hovers near a record high and the U.S. economy softens. Also, if major U.S. carriers do merge, regional feeder service would likely be reduced. AMR Corp (AMR.N: Quote, Profile, Research), the parent of American Airlines, is also seeking to shed its regional carrier American Eagle. It plans to divest American Eagle sometime this year and has said it could sell it or spin it off.
Shlachter, Perotin, Fuquay & Co.: Albertsons brings back cheaper line ...
Seven years after retiring the budget Janet Lee brand, Albertsons is putting an extensive line of "economy" private-label goods back on shelves, along with a higher-end organic selection. The 400 Always Save products and 100 Clearly Organic items come courtesy of Associated Wholesale Grocers, the Kansas City, Kan.-based cooperative distributor. Albertsons sold its sprawling Fort Worth distribution center to the group in June. "We have the opportunity with AWG to get access to these products, and we know that a lot of our customers are looking for low prices," said spokeswoman Jen Vroman. "It fills a niche in the grocery store." Value buys include a 32-ounce sack of Always Save frosted-flakes cereal for $2.89, compared with $3.99 for a 23-ounce box of Kellogg's Frosted Flakes.
American Capital Increases Q4 Dividend 14% to $1.00
American Capital's Board of Directors has declared a fourth quarter 2007 regular dividend of $1.00 per share to record holders as of December 7, 2007, payable on January 16, 2008. This is a $0.04 per share increase over its guidance, $0.08 per share increase over the third quarter 2007 and a 14% increase over the fourth quarter 2006 dividend of $0.88 per share. American Capital has paid or declared total 2007 dividends of $3.72 per share, which are expected to be a distribution from ordinary taxable income. This is a 12% growth over the total 2006 dividends of $3.33 per share. American Capital anticipates that its 2007 ordinary taxable income will exceed dividends paid in 2007 and will elect to pay a 4% excise tax and retain excess ordinary taxable income for future dividends. LONG-TERM CAPITAL GAINS DIVIDEND POLICY American Capital also announced a change to its dividend policy for net long-term capital gains.
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