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Bicycling, fitness center, rooftop bar coming to Clearfork's Trailhead

An 11,000-square-foot bicycling and fitness center is headed for the Trailhead at Clearfork on the Trinity River in west Fort Worth, Cassco Development said Wednesday.

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Glen Garden rezoning for distillery, attraction, goes forward on 7-2 Fort Worth council vote

Fort Worth Mayor Pro Tem W.B. "Zim" Zimmerman moved to approve the rezoning on a substitute motion, after Council member Kelly Allen Gray initially moved to deny the case.

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Residential land at Chisholm Trail Ranch purchased

Stratford Land, Legacy Capital Co. and the Walton Group of Cos. have snapped up 268 acres of residential land at Chisholm Trail Ranch in Fort Worth.

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Fort Worth to consider adopting 15-year Cavile Place redevelopment plan

The 300-unit Cavile Place housing project in Southeast Fort Worth would be razed and replaced in phases, with a significant number of the units redistributed into the neighborhood.

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Fort Worth payment processor acquired by pension plan group

Fort Worth-based First American Payment Systems has been acquired by an investor group led by the Ontario Teachers’ Pension Plan (Teachers’), with participation of members of the First American management team.

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American Airlines' parent earns $289 million in 3Q
 

 
DAVID KOENIG, AP Airlines Writer
 
DALLAS (AP) — After years of losses, Fort Worth-based American Airlines is making money by boosting revenue and cutting labor costs.
 
Parent company AMR Corp. said Thursday that it earned $289 million, or 76 cents per share, in the third quarter. That's a turnaround from a loss of $238 million, or 71 cents per share, a year earlier.
 
Adjusted profit was a record $530 million. That figure doesn't include bankruptcy-reorganization costs and other special items.
 
Revenue rose 6 percent, as passengers paid more per mile to fly on the nation's third-biggest airline. Labor costs fell 13 percent from a year ago, as the company cut jobs during its bankruptcy makeover.
 
Chairman and CEO Tom Horton said the airline's improved performance "creates strong momentum towards our planned merger with US Airways."
 
The airlines had expected to close the merger this summer but were delayed when the U.S. Justice Department and several states filed an antitrust lawsuit to block the deal. A trial on the lawsuit is scheduled to start Nov. 25, and Horton repeated this week that the companies remain open to negotiating a settlement that would allow them to combine.
 
AMR filed for bankruptcy protection in 2011 after losing more than $10 billion over the previous decade. It has used bankruptcy to renegotiate deals with labor unions and suppliers, which showed up in a 4 percent reduction in third-quarter operating costs. Labor costs fell $230 million in a year — nearly the entire amount of AMR's net income for the third quarter.
 
AMR ended the quarter with $7.7 billion in cash and short-term investments, compared with $5.1 billion a year earlier.
 
The company set aside $59 million for expected profit sharing next spring. American Airlines employees haven't received such payouts since 2001.
 
 
 

 

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