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09/03/15 04:15:21 PM
MARKET MOVERS

Movers: LSB Industries Inc., SunEdison, Inc., Delta Air Lines, Inc.

LSB Industries Inc.(LXU) : Sept. 03--Oklahoma City-based LSB Industries Inc. said Barry Golsen has stepped down as president and CEO as the company continues to deal with problems that have stalled production at its Pryor chemical plant. Golsen will remain a director of the company and Daniel Greenwell, LSB's lead independent director, will serve as interim CEO until a permanent replacement is found. Greenwell has been a member of the LSB board of directors since 2014 and serves as chairman of the Audit Committee and a member of the board's Strategic Committee. The company has been plagued with mechanical problems for the past several years at its Pryor ammonia plant. During an inspection, Pryor's automated monitoring systems detected several mechanical issues that prompted management to take the plant out of service in August, the company said Thursday. After repairs, the LSB restarted the plant Aug. 21, but was able to continue production for only four days. On Aug. 25, a pipe connecting two primary components of the ammonia plant developed a crack, causing operations at Pryor to once again be suspended. Repairs are estimated to take until Sept. 18 to complete. "We are extremely disappointed by the unplanned downtime occurring at the Pryor Facility during the third quarter," LSB Chairman Jack Golsen said in a statement. "We have been making progress towards generating more consistent performance at Pryor. However, there is always the risk that facility will experience some unplanned downtime from time to time during the next 18 months as we continue to move forward with our plant reliability and safety initiatives, which include the installation of sensors that will allow for earlier identification of mechanical issues and enhance preventative maintenance, and the implementation of advanced automation systems that will enable faster and more refined control over plant process conditions." LSB, which has a chemical unit and a climate control business, is one of Oklahoma City's largest employers. Prior to Barry Golsen stepping down as CEO, the company always has been led by a member of the Golsen family. ___ (c)2015 The Oklahoman Visit The Oklahoman at www.newsok.com Distributed by Tribune Content Agency, LLC.



SunEdison, Inc.(SUNE) : September 3 (SeeNews) - The chief executiveof US renewables developer SunEdison Inc (NYSE:SUNE) believes the company could start generating cash for a living in late 2015 or early 2016, he told Bloomberg on Wednesday. SunEdison, whose stock has gone down more than50% in the past month, initially expected this to happen at the end of 2016 or in early 2017. However, CEO Ahmad Chatila now anticipates it a lot sooner than that, he said, as cited by the news agency. When asked about the company's pendingUSD-2.2-billion (EUR 1.98bn) acquisition of local residential photovoltaic (PV) systems installer Vivint Solar (NYSE:VSLR), Chatila said he expects the transaction to close as scheduled duringthe final quarter of the year. Certain investors have shown concernabout the successful outcome because of SunEdison's stock plunge, Bloomberg said. (USD 1.0 = EUR 0.901) Source:



Delta Air Lines, Inc.(DAL) : By a News Reporter-Staff News Editor at Journal of Transportation -- Despite false claims by the three Gulf carriers that passenger traffic has "massively" increased since the airlines entered U.S. markets, fresh research confirms that the state-owned Gulf airlines have not stimulated any meaningful new demand and are instead diverting passengers from other airlines, inflicting harm on the U.S. aviation industry. This expanded data is included in a major, 400-page legal submission that the Partnership for Open & Fair Skies filed with the U.S. Department of Transportation on Monday. The filing categorically disproves misleading statements by Qatar Airways, Etihad Airways and Emirates to the U.S. government and demonstrates substantial harm to the U.S. carriers and American jobs. Emirates recently asserted that U.S. carriers "suffer no loss at all-- they are actually growing their business" as a result of the Gulf carriers' subsidized expansion to the United States. The data, however, tell a different story. Following Emirates' entry into four of the key markets examined, bookings on U.S. carriers and their joint venture partners dropped an average of 10.8 percent in Boston, 7.6 percent in Dallas-Fort Worth, 21.4 percent in Seattle and 14.3 percent in Washington, D.C. Top economists from Compass Lexecon have analyzed this and other recent claims put forth by the Gulf carriers and have determined they do not withstand scrutiny. The study concludes that entry into a U.S. gateway market by a Gulf carrier results in a steep decline in U.S. carrier international bookings to and from the region. The result is a loss of booking share and harm to U.S. service to communities across the country and loss of American jobs. "The numbers tell a compelling story: The Gulf carriers are causing serious harm to U.S. airlines, their workers and service to communities across the country because they don't stimulate new demand among passengers," said Jill Zuckman, chief spokesperson for the Partnership for Open & Fair Skies. "Time and time again the Gulf carriers manipulate the facts in order to support their false claims. The Obama administration should closely review this evidence and quickly request consultations with the United Arab Emirates and Qatar to ensure Open Skies agreements are being adhered to so all airlines can compete on a level playing field." https://photos.prnewswire.com/prnvar/20150826/261252-INFO The harm inflicted by the decline in bookings over time results in cuts in service to American cities by the U.S. carriers. For example, Delta Air Lines recently announced plans to cut service between Atlanta and Dubai, beginning October 1(st), citing the overcapacity of the government-subsidized Gulf carriers as one of the reasons. The glut of Gulf carrier capacity has also precluded U.S. carriers from restoring (much less expanding) their non-stop services to India. Each daily nonstop frequency cancelled or forgone by a U.S. carrier results in an average net loss of over 800 U.S. airline and related jobs. Qatar and the UAE have provided more than $42 billion in subsidies and other unfair benefits to their state-owned airlines in direct violation of the Open Skies agreements they signed with the United States. Monday's legal filing from the Partnership further strengthens the case that the Gulf carriers and the governments of Qatar and the UAE are attempting to dismantle core Open Skies principles, transforming a market-oriented policy into one that uses tens of billions of dollars in subsidies to distort the international market on behalf of state-owned airlines that are insulated from market forces and used as instruments of state industrial policy. The Partnership, along with over 260 members of the U.S. House of Representatives, 22 U.S. senators, the U.S. Conference of Mayors, representing over 1,400 mayors of major U.S. cities, and dozens of business, trade and economic groups around the country, is asking the U.S. government to request consultations with Qatar and UAE and for an immediate freeze on the introduction of new passenger service by the Gulf carriers during these consultations. Click to view the Partnership's submission to the U.S. government. Background on Partnership for Open & Fair Skies The Partnership for Open & Fair Skies is a coalition that includes American Airlines, Delta Air Lines and United Airlines, along with the Air Line Pilots Association, the Allied Pilots Association, the Southwest Airline Pilots' Association, the Association of Professional Flight Attendants, the Association of Flight Attendants-CWA, the Communications Workers of America, and the Airline Division of the International Brotherhood of Teamsters. The Partnership presented a white paper, Restoring Open Skies: The Need to Address Subsidized Competition from State-Owned Airlines in Qatar and the UAE, to the U.S. government. The Partnership called on the Obama Administration to request consultations under the Open Skies agreements with Qatar and the United Arab Emirates to address the flow of subsidized capacity to the U.S., and to seek a freeze on new passenger service during the consultations. Logo - http://photos.prnewswire.com/prnh/20150826/261252-INFO SOURCE Partnership for Open & Fair Skies Photo:https://photos.prnewswire.com/prnh/20150826/261252-INFO Keywords for this news article include: Airlines, Aviation, Transportation, Partnership for Open & Fair Skies. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC



Delta Air Lines, Inc.(DAL) : By a News Reporter-Staff News Editor at Journal of Transportation -- According to news reporting originating from Washington, D.C., by VerticalNews journalists, a U.S. Securities and Exchange Commission (SEC) filing by Delta Air Lines Inc. (Form 4) was posted on August 20, 2015. The SIC code for this company is 4512, Scheduled Air Transportation. There was one document filed with this form. The SEC file number is 0001019687-15-003221. The contact information for this company is HARTSFIELD-JACKSONATLANTA INTL AIRPORT, 1030 DELTA BOULEVARD, ATLANTA GA 30354-1989, 4047152600. Our editors provided additional information about Form 4: Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities. A U.S. Securities and Exchange Commission filing is a formal document or financial statement submitted to the SEC by publicly-traded companies. For additional information on this SEC filing see: http://www.sec.gov/Archives/edgar/data/1200334/0001019687-15-003221-index.html. Keywords for this news article include: SEC Filing, Delta Air Lines Inc., Scheduled Air Transportation. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC



Hawaiian Holdings Inc.(HA) : By a News Reporter-Staff News Editor at Journal of Transportation -- According to news reporting originating from Washington, D.C., by VerticalNews journalists, a U.S. Securities and Exchange Commission (SEC) filing by Hawaiian Holdings Inc. (Form 4) was posted on August 21, 2015. The SIC code for this company is 4512, Scheduled Air Transportation. There was one document filed with this form. The SEC file number is 0001209191-15-067357. The contact information for this company is 3375 KOAPAKA STREET, SUITE G-350, HONOLULU HI 96819, 8088353700. Our editors provided additional information about Form 4: Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities. A U.S. Securities and Exchange Commission filing is a formal document or financial statement submitted to the SEC by publicly-traded companies. For additional information on this SEC filing see: http://www.sec.gov/Archives/edgar/data/1172222/0001209191-15-067357-index.html. Keywords for this news article include: SEC Filing, Hawaiian Holdings Inc., Scheduled Air Transportation. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC



 

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