PHILADELPHIA — The union representing journalists at Philadelphia’s two major newspapers said Thursday that it will bargain a new contract to help prevent the troubled company from being liquidated.
Local Newspaper Guild leaders made the announcement after meeting with executives of Interstate General Media LLC, the group that owns The Philadelphia Inquirer and Daily News and the website Philly.com.
Interstate had threatened last week to liquidate or sell its assets unless it got new labor agreements with all 11 unions by Friday, according to the Guild.
Ten unions have been working without contracts since October; the current Guild contract expires this coming October. On Thursday, the Guild agreed to negotiate a new deal while keeping current provisions in force.
AUTOS
Toyota, plaintiffs reach deal in wrongful-death lawsuit
LOS ANGELES — Toyota Motor Corp. has settled what was to be the first in a group of hundreds of pending wrongful-death and injury lawsuits involving sudden, unintended acceleration by Toyota vehicles, a company spokesman said Thursday.
Toyota reached the deal in the case brought by the family of Paul Van Alfen and Charlene Jones Lloyd, spokeswoman Celeste Migliore said. They died when their Toyota Camry slammed into a wall in Utah in 2010.
Ms. Migliore would not disclose the financial terms, and plaintiffs’ attorney Robert Krause did not immediately reply to a phone message.
AIRLINES
American unveils new design for planes
DALLAS — American Airlines is getting a new look.
The airline showed off the first plane bearing a new logo and paint job at Dallas-Fort Worth International Airport on Thursday.
The familiar red, white and blue stripes along the side of the fuselage are gone, replaced by a new logo and “American” in large letters on the silver body. Red and blue horizontal bars are emblazoned on the tail.
“We thought it was time to update the look — it’s been 40 years,” Thomas Horton, CEO of American’s parent, AMR Corp., said.
TELECOMMUNICATIONS
AT&T takes $10 billion loss to cover pension plan
NEW YORK — AT&T said Thursday that it would take a $10 billion write-down on its fourth quarter earnings to cover accounting losses in its pension funds because of lower-than-expected interest rates.
The No. 2 U.S. wireless carrier said a lowered estimation of what it will earn on assets resulted “in an actuarial loss of approximately $12.0 billion,” which will result in the $10 billion pre-tax write-off.
• From wire dispatches and staff reports
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