FORT WORTH, Texas, Wed Oct 3, 2012 – American Airlines said an internal investigation has revealed improperly installed clamps caused some seats to loosen in six of its aircraft and would inspect the seats in other planes.
On Monday the company said it had temporarily grounded eight aircraft after some seats came loose on two flights.
“Our maintenance and engineering teams have discovered that the root cause is a saddle clamp improperly installed on the foot of the row leg,” the company said in a statement.
The airline, whose parent AMR Corp filed for bankruptcy protection in November, is inspecting all 47 of its 102 Boeing 757 aircraft which have the same type of seat.
The Federal Aviation Administration is aware of the internal review and its findings, the company said.
The airline has already suffered disruptions to its flights due to a long-running labor dispute with its 8,000 pilots, who are expected to authorize a strike this week.
NEW YORK, Wed Aug 15, 2012 – Billionaire investor Carl Icahn may gain one out of four board seats he is seeking at drugmaker Forest Laboratories Inc., according to a preliminary tally of shareholder votes submitted ahead of the company’s annual meeting on Wednesday, people familiar with the matter said.
The sources cautioned that the vote was close and that certain variables could change the outcome of the bitter proxy battle – the second that Icahn has waged against the drugmaker in the past two years.
Firmer results were expected later Wednesday following the shareholder meeting in New York.
Pierre Legault, a former executive at several big drugmakers as well as a small biotechnology firm, is the Icahn nominee most likely to be elected to the board, the sources said. Icahn had also sought seats for Daniel Ninivaggi, president of Icahn Enterprises; Eric Ende, a former analyst at Merrill Lynch and Andrew Fromkin, former chief executive of Clinical Data.
Forest has rejected Icahn’s nominees, arguing they would not add any value to its board and that its directors are best placed to generate new growth for the company as generic competition curtails revenue from its two biggest products – antidepressant Lexapro and Alzheimer’s drug Namenda.
Forest has said Ende and Fromkin also have conflicts of interest, making them unfit for board positions, and rejected efforts to broker an agreement with Icahn.