Briefs Du­el­ing Flight Plans tal Man­age­ment ment J.crew

CEO Wis­dom

Bloomberg Businessweek (North America) - - Companies/industries -

●●o The cock­pit is un­der siege at United Con­ti­nen­tal. Days be­fore CEO Os­car Muñoz was slated to re­turn to work af­ter a heart trans­plant, two hedge funds pushed to elect six di­rec­tors to the com­pany’s 12-per­son board and name as chair­man for­mer Con­ti­nen­tal CEO Gor­don Bethune. United called the move by PAR Capi

and Al­time­ter Cap­i­tal Man­age“a hos­tile ac­tion.” ●● TPG Cap­i­tal cut the value of its stake by 84 per­cent, to $76 mil­lion. The pri­vate equity firm, along with Leonard Green & Part­ners, led the 2011 buy­out of the com­pany, a bet on a turn­around that is look­ing in­creas­ingly un­likely. Sales at J.crew’s es­tab­lished stores have de­clined for five straight quar­ters. ●● Nike, Porsche, and Swiss watch­maker Tag Heuer sus­pended spon­sor­ship ties with Maria Shara­pova af­ter the ten­nis star failed a drug test. She said the sub­stance in ques­tion was pre­scribed by a doc­tor, and she didn’t no­tice when it was banned by the World Anti-dop­ing Agency in Jan­uary. ●● Vivint So­lar broke off a deal to be bought by Sunedi­son for $2.2 bil­lion. The scrapped ac­qui­si­tion il­lus­trates some of the tur­moil that’s swept through the so­lar in­dus­try in re­cent months. Since it agreed to buy Vivint in July, Sunedi­son’s shares have slid by more than 90 per­cent. ●● In­di­tex, the Span­ish ap­parel em­pire be­hind Zara, said it would speed Web sales and slow store ex­pan­sions. A grow­ing share of its square footage will be in big flag­ships, the com­pany also said. In­di­tex has about 7,000 stores, but it still doesn’t of­fer prod­ucts on­line in sev­eral Euro­pean coun­tries.

$75mil­lion

struck a deal to lease 20 Boe­ing 767 freighters from Air Trans­port Ser­vices to zip Ama­zon pack­ages around the coun­try. Heads up, Fedex and UPS. “The con­sumer’s ap­petite for fash­ion seemed to be in­versely re­lated to price.” ——Richard Hayne, CEO, Ur­ban Out­fit­ters, de­scrib­ing the chal­lenges for re­tail­ers in 2015

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