By now, you've no doubt heard about the tragic
jetliner bound for Cairo that went down off the coast of Nantucket.
A full list of the more than 214 people feared dead has not yet been released, but the passengers on board included
, assistant publisher of Montreal's
newspaper, and his wife, the newspaper told
. You can read the latest on the crash at
The plane itself was a Boeing 767, which has been involved in two other fatal crashes since 1982,
, meanwhile, said a 1980 report of fuel tank problems in its military E-4B jet did not appear relevant to the aircraft's commercial cousin, the 747. A 747 was carrying the 230 people killed in the 1996 explosion of
Flight 800. The
National Transportation Safety Board
said Saturday it was dismayed that it did not get a copy of the report until this year.
The only hopeful news within the aviation industry this weekend was that
pilots union had agreed to sit down at the bargaining table, ending a dispute over the airline's acquisition of West Coast carrier
. An arbitrator will decide the status of Reno's pilots under American's labor contract, a controversy that prompted a pilot "sickout" earlier this year. American is a unit of Texas-based
-- a unit of Germany's
-- has made a $1.4 billion bid for
Air Express International
, the U.S.-based freight forwarder,
reported Sunday. The news came two days after a report that Air Express had rejected a $1 billion takeover offer by Danzas.
In an effort to break into the U.S. asset management business, German insurer
is acquiring about 70% of
in a deal worth $3.3 billion,
reports. Pimco, based in Newport Beach, Calif., manages about $256 billion in assets.
Pacific Life Insurance
said Sunday it planned to maintain its 30% stake in Pimco, and welcomed Allianz as a partner.
Visitors to the Middle East may soon recognize two familiar franchises:
plans to open a Tel Aviv branch for corporate clients next year. Meanwhile, Saudi
Prince Alwaleed bin Talal
, who's trying to save Planet Hollywood, announced he was opening a restaurant in Amman, Jordan, with more to follow in the Middle East and Europe.
is taking a closer look at
planned acquisition of
, which makes technical drawing software. Visio said Saturday that both companies have been asked to submit more information about the $1.3 billion proposed merger.
In the Papers
Amid an investor selloff, home builder
Kaufman & Broad
is planning a partial IPO of its French division on the Paris
for the first quarter of next year,
reports. CEO Bruce Karatz tells the magazine his company would likely retain a 60% stake in the new venture.
The latest Big Money poll in
finds that more than half of the 165 money managers surveyed have either a "bullish" or "very bullish" market outlook for the next year. Some 69% also think
George W. Bush
will be the next president.
Speaking of presidential contenders ... If
is worried about his ex-wives dishing up any marital secrets, he may find some pleasure in
latest examination of some of the shady characters associated with
5th Avenue Channel
David Rheingold is a New York-based freelance writer. At the time of publication he had no positions in any of the securities mentioned, although holdings can change at any time.