Billionaire Boys Club Member Forum (BBCMF)

[mick]

Stellantis (NYSE:STLA), Ferrari (NYSE:RACE) – An Italian judge seized about $84 million from five people, including John Elkann, in a tax fraud investigation. Prosecutors allege that Elkann and his siblings failed to pay taxes on their grandmother Marella Caracciolo’s inheritance, claiming she resided in Italy, not Switzerland. The Elkanns’ lawyers argue the seizure does not indicate guilt, reiterating that their grandmother always lived in Switzerland.

Boeing (NYSE:BA) – Last Friday, Boeing began temporary layoffs for thousands of employees in Washington and Oregon after more than 32,000 workers went on strike, halting production of the 737 MAX and other jets. Union negotiations are stalled, and the company is preparing for a possible extended strike, with workers demanding a 40% wage increase. Additionally, Boeing announced the immediate departure of Ted Colbert, head of its space and defense unit, temporarily replaced by Steve Parker. The new CEO, Kelly Ortberg, highlights the need to restore customer trust following several setbacks, including issues with the Starliner capsule and the 737 MAX. Shares rose 0.6% in pre-market trading, after closing 0.8% lower on Friday.

Alaska Airlines (NYSE:ALK) – Alaska Airlines reported an IT failure that caused delays and led to a two-hour stop order on arrivals in Seattle. The airline clarified that the issue was caused by a certificate and not a cyberattack. Some residual impacts are still expected.

American Airlines (NASDAQ:AAL) – American Airlines requested the U.S. Department of Transportation to delay the resumption of two daily flights to China, citing low travel demand between the two countries. The airline currently operates one daily flight between Dallas and Shanghai, but demand has not yet returned to pre-pandemic levels. Shares fell 0.2% in pre-market trading, after closing 0.9% lower on Friday.

Southwest Airlines (NYSE:LUV) – Southwest Airlines is considering changes in routes and schedules to boost revenue, as well as offering assigned seats. The airline announced it will take difficult steps to restore profitability and meet demands from activist investor Elliott Investment Management.