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December 2013 Archives

Merging American Airlines with US Airways

One year ago, the future of American Airlines and that of its workers in Virginia was murky. In fact, there was speculation as to if the airlines would even move forward. But the merger of American Airlines with US Airways has culminated in a story that has brought the financially riddled company back from bankruptcy to be known as the world's largest airline.

Virginia companies merging to create largest bank in state

Union First Market Bankshares Corp., from Richmond, Virginia, is set to acquire StellarOne, based in Charlottesville, in a $445.1 million merger. After the merger, Virginia National Bank, located in Richmond, will be the area's main community bank. Changes should not affect customers until the summer.

Common traits of successful business owners

Many Virginia employees have thoughts of starting their own business and reaping the rewards of entrepreneurship. However, a desire to be a business owner is not enough to ensure success. There are some characteristics that successful small business owners tend to possess that help them avoid the common obstacles to entrepreneurship.

Airline merger approved by bankruptcy court

A key obstacle to a merger that will likely impact Virginia airline passengers has been cleared. A federal bankruptcy court has signed off on an agreement that had previously been reached between AMR Corp., the parent of American Airlines, and the U.S. Department of Justice regarding American's proposed merger with US Airways Group. The government had previously challenged the transaction on antitrust grounds, but had withdrawn its objection after the airlines agreed to give up some gate slots at several airports to low-fare competitors. The agreement required bankruptcy court approval due to the 2011 Chapter 11 filing by AMR.

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