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New arena at Will Rogers takes shape


The proposed Will Rogers Memorial Center arena continues to take shape as voters head for a Nov. 4 election to decide whether to approve new taxes to help pay for the $450 million facility.

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Ex Rangers manager Washington apologizes for 'breaking wife's trust'

IRVING, Texas (AP) — Former Texas Rangers manager Ron Washington says he is embarrassed for 'breaking his wife's trust.'

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Cooking Class: Fort Worth chef brings home the gold

Toques off to Timothy Prefontaine. The executive chef at the iconic Fort Worth Club is currently the best in the nation, according to the American Culinary Federation. Prefontaine earned the title of 2014 U.S.A.’s Chef of the

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Fort Worth firm 'simplifies' advertising

Reaching customers requires more than price slashing and flashy ads. In today’s competitive marketplace, machines – not men and women – are essential to tapping new markets and

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Trinity Valley School leader to leave in May 2015

Gary Krahn, head of school for the past eight years at Trinity Valley School in Fort Worth, will leave his position in May 2015 when he and his wife Paula will move

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AMR creditors to vote on merger with US Airways

 

DALLAS (AP) — A federal judge has cleared the way for American Airlines' creditors to vote on a merger with US Airways.

U.S. Bankruptcy Judge Sean Lane on Tuesday approved American parent AMR Corp.'s description of its restructuring plan, including a merger that would create the world's biggest airline.

If creditors approve the plan, the company will return to court to seek final approval from Lane this summer.

At a hearing Tuesday in New York, the judge delayed ruling on a $19.9 million severance package for AMR CEO Tom Horton.

The U.S. trustee's office, part of the Justice Department, objected that the size of Horton's payout violated at 2005 law designed to limit payments by bankrupt companies to insiders. Lane postponed a decision until he makes a final ruling on AMR's reorganization plan this summer.

Under the merger plan, the combined airline will be run by US Airways Group Inc. CEO Doug Parker, and Horton will serve briefly as chairman before stepping down. The merged company will be called American Airlines Group Inc. and based in Fort Worth, Texas.

AMR spokesman Michael Trevino said the company was pleased that the bankruptcy judge approved the description of its turnaround plan — called a disclosure statement — "allowing us to move forward with our restructuring and our planned merger with US Airways."

Trevino said in a statement that the plan would "provide the foundation for a stronger future for our people and our customers."

AMR lost money in April, but it has slashed labor costs by about one-fifth, and Horton said last week that the company was on track for a "strongly profitable" April-to-June quarter.

The merger and turnaround plan would result in full repayment to AMR bondholders. Shareholders, whose investments usually are wiped out in bankruptcy, would get at least 3.5 percent of the new company's stock.

AMR filed for bankruptcy protection in November 2011, and US Airways pushed for a merger throughout 2012. In February the companies announced plans to merge. The combined airline would leap over No. 1 United Airlines and No. 2 Delta Air Lines to become the largest carrier by passenger miles.
 

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What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?