Snyder Prepares to Lobby Six Flags Investors
Redskins owner Daniel M. Snyder asked the board of Six Flags to set a date to determine the number of shareholders of record. Snyder, Six Flags' largest shareholder, plans to ask fellow shareholders to replace the company's top two executives and one director with himself, former ESPN programming executive Mark Shapiro and home builder Dwight V. Schar.
Lockheed, Boeing Pair Up for Bomb Contract
Lockheed Martin and Boeing together are competing for a small-diameter-bomb contract from the U.S. Air Force valued at as much as $2.7 billion. Boeing, the prime contractor, already has developed a small-diameter bomb, while Lockheed has developed the "seeker" technology to enable it to hit moving targets, Bethesda-based Lockheed said. The Air Force reopened the program for competition after the Government Accountability Office in February determined that the original award to Boeing involved a conflict of interest.
US Airways September Traffic Mixed
US Airways Group, which completed its merger with America West Airlines, said traffic on US Airways flights fell 4 percent last month, to 2.87 billion revenue passenger miles, while America West traffic rose just 0.1 percent, to 1.86 billion revenue passenger miles. A revenue passenger mile is one paying customer flown one mile.
At US Airways, capacity decreased 6.6 percent and occupancy, also known as load factor, rose 1.9 percentage points, to 72.6 percent. For America West, capacity expanded 1.4 percent, to 2.46 billion available seat miles, but occupancy dropped to 75.6 percent from 76.5 percent.
MERGERS & ACQUISITIONS
Columbia, Tampa Companies to Merge
Metastorm, a Columbia software provider, is merging with CommerceQuest of Tampa, which provides business process management software, in an all-stock deal. Internet Capital Group, which controlled CommerceQuest, would own 40 percent of the new company. The combined company would have more than 1,200 customers in 41 countries and keep Metastorm's brand name and headquarters.
Compiled from staff and news service reports.