Articles tagged “elliott management”

Today's podcast looks at how AI may yet transform the travel industry, the FTC's crackdown on fake reviews, and Elliott Investment's proposed changing to the Southwest board.

Southwest’s profits decreased by 46% as it looks to make changes to its business model to boost its bottom line.

The hedge fund claims it now has multiple allies that support a leadership overhaul at Southwest.

Gangwal’s appointment comes after activist investor Elliott criticized the airline’s board for not having enough directors with external airline experience.

Southwest is adopting a shareholder rights plan — known as a “poison pill” — to fend off Elliott from attaining a controlling stake in the company.

Elliott Investment Management, which has a $2 billion activist stake in Southwest, was highly critical of the airline’s revenue forecast cut for the second quarter.

Jordan’s comments come just days after Elliott took a nearly $2 billion stake in Southwest, making it one of the airline’s largest investors.

Southwest said it is confident in its strategy and leadership team as Elliott is pushing for the airline to replace its CEO and chairman.

Travelport has now received $770 million in private equity this year.

An investment vehicle backed by Elliott Management has invested in hotels, following similar moves by other big-money firms. Fun fact: The $370 million deal coincides with the acquisition of U2's The Clarence Hotel.