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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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Troubled RadioShack files SEC form, talks with 'major vendor'

RadioShack Corp.’s latest filing with the U.S. Securities and Exchange Commission describes recent discussions that “could be beneficial to the financial restructuring of the company.”

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Road Show: City leaders prepare campaign to corral votes for $450 million arena

Fort Worth’s biggest backers of a new arena at the Will Rogers Memorial Center are leaving little to the chance of a “no” vote in a citywide election Nov. 4 to decide on new fees that would fund 15 percent of the $450 million project.

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REIT plans demolition of Fort Worth's Westchester Plaza, mixed-use redevelopment

The developer is seeking a $3.8 million reimbursement from the Southside tax increment finance district.

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Texas Health Southwest breaks ground on $40M expansion

A $40 million expansion of Texas Health Harris Methodist Hospital Southwest Fort Worth is under way, with groundbreaking ceremonies held this week.

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American Airlines CEO nets $13.4M in stock sale

 

DAVID KOENIG, AP Airlines Writer


DALLAS (AP) — The CEO of American Airlines netted a profit of $13.4 million after exercising options and selling shares that he accumulated while running US Airways.

Doug Parker sold more than one-third of his stake in the company formed by the merger of American and US Airways, but he still owns nearly 1.4 million shares, according to a regulatory filing. That stake was worth nearly $47 million at Friday's closing price.

American disclosed the stock transactions by Parker and other top executives in filings with the Securities and Exchange Commission.

American and US Airways merged in December, and shares and options in each airline were converted to the new company, American Airlines Group Inc.

According to the SEC filing, Parker paid about $10.7 million to exercise options and acquire 505,375 shares on Thursday. The options were from the 2005 merger of US Airways and America West and were due to begin expiring later this month. That boosted his stake to more than 2 million shares, and he sold 702,375 shares for more than $24.1 million on the same day.

A company spokesman said that about half of Parker's profit came from selling shares that he bought in 2008 as a show of confidence at a time when the airline industry was struggling with skyrocketing fuel costs.

Parker told employees this week that he and his wife would donate $1 million to a fund that helps employees with financial problems.

Other executives including President Scott Kirby and Chief Financial Officer Derek Kerr also sold large numbers of shares. They too were executives at US Airways before the merger with American.

American's shares fell 61 cents, or 1.8 percent, to close at $34.41.

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