American Airlines (AAL.O) and its 28,000 flight attendants have reached a tentative labor agreement, according to their union, the Association of Professional Flight Attendants (APFA). Although the specifics were not disclosed, the deal addresses concerns about compensation, work rules, and retroactive pay.

After more than three years of negotiations, the agreement will be reviewed by the union’s board before members vote on ratification. APFA President Julie Hedrick stated that if approved, the deal will significantly enhance compensation and work conditions for flight attendants.

The White House closely monitored the discussions, with Transportation Secretary Pete Buttigieg and acting Labor Secretary Julie Su previously involved. President Joe Biden praised the agreement, noting it prevents a potentially disruptive strike and underscores the benefits of collective bargaining for workers, companies, and the economy.

According to the airline, the contract promises immediate financial and quality-of-life improvements for flight attendants. The company had previously offered a new contract with a 17% immediate wage increase and higher profit sharing in 2024, but these terms were rejected by the union.

Flight attendants, who had authorized a strike if negotiations failed, have not seen a pay raise in over five years. The union had demanded a 33% immediate raise, citing the challenges faced since the pandemic, including dealing with unruly passengers.

Negotiations began in January 2020 but paused during the pandemic, resuming in June 2021.

The post-pandemic consumer spending spree is beginning to slow, as evidenced by recent reports from major U.S. companies like PepsiCo and Delta Air Lines. Both companies have issued cautious financial outlooks, citing increased price sensitivity among consumers.
The post-pandemic consumer spending spree is beginning to slow, as evidenced by recent reports from major U.S. companies like PepsiCo and Delta Air Lines. Both companies have issued cautious financial outlooks, citing increased price sensitivity among consumers.

PepsiCo noted that the pressure of inflation and high borrowing costs have led to tighter household budgets, resulting in more price-conscious consumers. Similarly, Delta Air Lines CEO Ed Bastian pointed to lower fare discounting in the domestic market as customers push back against premium pricing.

This shift in consumer behavior is further supported by the latest inflation data, which showed a significant decline in the monthly Consumer Price Index for the first time since the pandemic. While the 12-month index remains above the Federal Reserve’s 2% target, it has cooled more than expected.

Despite the slowdown in consumer spending, economists do not foresee an imminent recession. While weakening, the labor market still shows healthy wage growth that outpaces inflation. Analysts suggest the economy may be entering a period of “disinflation,” where price growth slows without triggering a full-blown recession.

As more consumer-focused companies prepare to release their business updates in the coming weeks, the market will be closely watching for further signs of this economic shift and its potential impact on various sectors.

Six Flags has completed an $8 billion merger with Cedar Fair. With 42 parks in 17 states, this partnership creates the largest amusement park operator in the U.S. Rollercoaster enthusiasts are watching closely to understand what the impact will be on the future of these parks. Some anticipate improvements in park conditions, while others fear increased admission costs.

Passionate fans, sensitive to changes in park design and history, worry about losing nostalgic elements. For now, the parks will retain their existing branding and names.

Chris Miller, who runs the Coaster Conquest YouTube channel, is cautiously optimistic, hoping for diverse new rides but concerned about potential price hikes for all-park season passes.

The new entity, Six Flags Entertainment Corp., will be led by Cedar Fair CEO Richard Zimmerman. Cedar Fair owns 51% of the company, while Six Flags holds 49%. The merger aims to compete with destination parks like Disney and Universal by leveraging their scale to reduce costs and enhance guest experiences.

Six Flags has faced challenges in recent years, including fluctuating management strategies and a significant stock drop. The merger is expected to provide stability and improved operations. Cedar Fair’s successful management and higher attendance rates offer hope for better service and overall park experience.

Analysts foresee potential benefits such as new season pass options, loyalty programs, and combined intellectual property licenses, potentially leading to exciting new themed rides and attractions. However, some fans worry about losing the distinctive charm of beloved parks.

This article was originally published on January 17, 2014.
Based on the Forbes article from May 29, 2000 entitled: “The Gift of Data”

As CEO of a cancer testing startup, Anu Saad has leveraged her company’s vast trove of patient data to launch a lucrative new business in packaging and selling medical information.

In 1998, Saad provided critical usage insights to Genentech on its new breast cancer drug Herceptin by analyzing her startup’s database of 40,000 HER2 gene test results. This allowed Genentech to effectively target pre-launch marketing, contributing to Herceptin’s blockbuster sales of $300 million in 2000.

Under Saad’s leadership, the startup realized rich opportunities in monetizing its cancer databases. With over 565,000 patient profiles and processing 12% of US cancer screens annually, Saad has signed partnerships with two dozen pharmaceutical firms who pay handsomely for analysis of biomarkers, genetics, treatment outcomes and more. For example, Novartis paid the startup to analyze bone metastasis rates across different cancer types to inform clinical expansion opportunities for its breast cancer drug Zometa.

To expand the startup’s data capabilities, Saad recently acquired two firms – one for clinic data and tumor samples and another for 1.7 million cancer patient records. By pooling these resources with the startup’s internal databases, Saad has developed detailed profiles on over 100,000 patients to better inform treatment and drug development.

While the lion’s share of the startup’s $85 million revenue still comes from core cancer testing services, Saad has overseen over 50% growth in its information services business, already generating $8 million annually. However, Saad stresses that commercialization of data is firmly grounded in achieving the fundamental mission she set out for her company – leveraging medical insights to develop more effective diagnosis and treatments for cancer patients. It is this commitment by visionary leaders like Saad that enables life sciences firms to translate vast data resources into improved patient outcomes. Under Saad’s leadership, her startup has emerged as an information powerhouse that promises to catalyze major advances in cancer care.