6at4 Business Report: Burger King; Airline bankruptcies; Credit cards
DATELINE (WPVI) -- An airline company preps for bankruptcy; Burger King starts a makeover; credit card security breach update.
Pinnacle Airline Bankruptcy
Another airline flying into troubled skies. Pinnacle Airlines is seeking bankruptcy protection after being hurt by rising costs and falling revenues. You may recognize the company under the names Continental Express, Delta Connection and United Express. According to court documents, the carrier will halt United Express flights by August 1 and will cease flying for US Airways by June.
Avon buyout offer rejected
Someone's calling on Avon, to buy the company. But Avon's answer is, "No thanks!" Beauty brand company Coty has offered to buy Avon for $10 billion. But the deal had been snubbed by Avon's board, so Coty went public and took it directly to Avon shareholders. However once again, Avon said, "No thank you!"
Burger King Changes
Burger King is taking a page from McDonald's. The fast food chain it's rolling out a bunch of changes today as it tries to regain ground its lost to rivals like McDonald's. New menu items include salads, wraps and smoothies. It's also turning to celebrities like David Beckham and Mary J. Blige for its commercials. Burger King is trying to broaden its appeal beyond its core base of young men, a group hit hard by the recession. You can read more about this story, and vote for your favorite fast food restaurant here
Credit Card Security Breach
Visa and Mastercard are assuring credit card users today that a security breach has been contained. The two companies say as many as 1.5 million credit card numbers may have been stolen, but that no other customer information was compromised. The breach is thought to be the result of a cyber attack on a separate company that processes credit card transactions. Visa has temporarily stopped doing business with that company. Customers who may be impacted should have already been contacted.
6at4, stock market, economy, burger king, mcdonalds, business/finance
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