JetBlue Bites Big AppleJetBlue ( JBLU) announced Monday that it loves New York too much to take off for Florida. How much does JetBlue love New York? Easy, $10 million of tax breaks and public assistance worth. Oh, and a joint branding deal for the iconic "I Love NY" logo to boot.
From Russia 'With Attention'The Russians are coming! The Russians are coming! Wait a second. It's just a false alarm. They aren't coming to bid on our military aircraft at all, so all you Cold War kids just chill out for a second. Russia has not been asked to participate in a bid to supply aerial refueling tankers to the U.S. Air Force, said Deputy Prime Minister Sergei Ivanov on Monday. The news counters a report by the Seattle Times on Saturday saying that United Aircraft of Moscow, with an unnamed U.S. partner, was planning to challenge Boeing ( BA) for the $40 billion contract.
Icahn Tames Lions GateThere's a billionaire barbarian at Lions Gate ( LGF), and the movie studio has come up with some pretty lame excuses for not letting him in. Activist investor Carl Icahn blasted the board of directors at Lions Gate Entertainment as "absurd" this Wednesday after the film studio rejected his latest bid for the entire company as too low. The company's board voted unanimously against Icahn's offer to buy all of its outstanding shares for $6 apiece, valuing the deal at about $575 million. Lions Gate already snubbed Icahn's offer of $6 per share last month in a move that would have raised his stake in the company to 30% from 19%. The company's board also went the extra step and enacted a poison pill defense to fend off future takeover attempts, a ploy that Icahn plans to challenge in court.
Palm PlummetsKaboom! The bomb that is Palm ( PALM) has officially gone off. Palm shares plummeted 29% March 19 to a 14-month low after the smartphone maker warned that its current-quarter revenue would be far below Wall Street's expectations. Analysts on the Street slashed their ratings on the news, one going so far as to lower his price target to zero. That's right, zero, zip, nil, nothing, nada. To which we say: Ouch!