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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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Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

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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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Barnett still packs economic punch, study finds

Despite reduced drilling and unstable gas prices, Fort Worth continues reaping the rewards of the Barnett Shale, according to a newly released study by The Perryman Group.7

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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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Judge leans toward approving American bankruptcy plan

 

SCOTT MAYEROWITZ, AP Airlines Writer


NEW YORK (AP) — A federal judge signaled Thursday that he is leaning toward approving American Airlines' emergence from bankruptcy protection but wanted more time to reflect.

"I'm finding the arguments in favor of confirmation fairly persuasive," Judge Sean H. Lane said from the bench. He could sign off on American's restructuring plan at the next hearing on Sept. 12 or in a written decision prior.

Such a decision would only leave one obstacle — although a big one — to American's proposed merger with US Airways: an antitrust lawsuit filed by the government earlier this month.

That suit filed by the U.S. Department of Justice, six states and the District of Columbia argues that combining American and US Airways would leave four airlines controlling more than 80 percent of U.S. air traffic and drive up prices.

That case is at least two months away from being resolved, unless the airlines and government reach an out-of-court settlement first.

Lawyers for American's parent company, AMR Corp., and for its creditors told the bankruptcy judge that the lawsuit should not have any bearing on his decision. They noted that his approval of the restructuring plan — one approved by American's shareholders — is already subject to regulatory approval.

Stephen Karotkin, a lawyer with Weil, Gotshal & Manges who represents American, said that the airline's creditors and shareholders all stand behind American's restructuring plan.

Not approving it now, Karotkin said, would inject an "unwarranted element of uncertainty" into American's fate. Even if the merger fails, he said it is "inconceivable" that the airline would face liquidation or need further court-approved restructuring.

The Department of Justice was particularly concerned that the newly-combined airline would have 69 percent of the takeoff and landings at Ronald Reagan Washington National Airport. It also — for the first time — looked beyond non-stop routes, saying connecting flights between 1,043 city pairs would no longer have an acceptable level of competition.

Some of those routes see very few passengers. For instance, there are five people, on average, each day flying between Little Rock, Ark. and Harrisburg, Pa., and another five flying in the other direction, according to government data.

The Department of Justice has suggested bringing the case to trial no sooner than March 3. American and US Airways say such a delay will cost them millions of dollars and potentially kill the merger. They have proposed a start date of Nov. 12 for the trial in Washington, D.C. U.S. District Court Judge Colleen Kollar-Kotelly will meet with the parties Friday.

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