Spirit Airlines bosses want to cut pilots' union-negotiated pay as it seeks to recover from its second bankruptcy filing in under a year. The airline needs to save $100 million a year on its collective bargaining agreement with pilots, Chief Operating Officer John Bendoraitis told the pilots' union in a Tuesday letter shared with Business Insider.He said Spirit "must achieve significant cost savings" to "secure the company's future." "Given the challenges we face, time is of the essence," he added.The let ...

Core Viewpoint - Tesla is re-evaluating its door handle design to incorporate more manual controls for emergency situations, following safety concerns and regulatory scrutiny [1][2][3][4] Group 1: Design Changes - Tesla's chief designer announced plans to combine electronic and manual door controls into a single button for easier access during emergencies [1] - The company is responding to complaints about the difficulty of using manual door releases in emergencies, which have been reported by owners [3][4] Group 2: Regulatory Scrutiny - The National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Tesla due to multiple complaints from parents about children being trapped in the Model Y SUV when electronic door controls failed [2] - Chinese regulators are also considering a ban on flush or concealed door handles, prompting Tesla to study the proposed legislation [3] Group 3: Safety Incidents - A Bloomberg report highlighted incidents where Tesla's complex door design hindered evacuation during emergencies, raising safety concerns [4] - Tesla's board has acknowledged these safety issues and emphasized that the vehicles are equipped with a manual override for power failures [4]

Core Viewpoint - Spirit Airlines is reducing its flight capacity by 25% as it navigates a second bankruptcy filing, aiming to optimize its network and focus on stronger markets [1][3][9] Company Actions - The airline will begin redesigning its flight network in November, leading to a year-over-year capacity reduction of approximately 25% [1] - CEO Dave Davis indicated that the restructuring will likely impact the workforce size, although specific details on layoffs were not provided [2][3] Financial Context - Spirit Airlines has filed for Chapter 11 bankruptcy twice within a year, with the first filing in November and the second in August [3][9] - The airline reported a revenue of $1.02 billion for the quarter ending in June, which represents a 20% decrease compared to the same period the previous year [8] Strategic Outlook - The company aims to execute a comprehensive restructuring to position itself for long-term success, which includes a potential reduction in flight routes and market presence [9]

Core Insights - Cracker Barrel reported mixed Q4 earnings, missing analyst expectations on earnings but beating on revenue, leading to a nearly 10% drop in shares during after-hours trading [1] - Despite challenges, the company has seen a positive response from its loyal customer base, with same-store sales up 5.4% for the fiscal fourth quarter [3][4] Financial Performance - Q4 earnings missed expectations while revenue exceeded them, resulting in a significant share price decline [1] - Same-store sales increased by 5.4% despite a projected decline in traffic for fiscal year 2026, estimated to be between 4% to 7% [3] Customer Engagement - Loyalty program sign-ups increased by 3 million over the past year, with a notable spike following the rebranding backlash [4][5] - The loyalty program now has over 9 million registered members, accounting for over 35% of tracked sales [5] Market Position - Cracker Barrel has been recognized for having the second-most loyal fans in the casual restaurant sector, with a fidelity index score of 174 [10] - Analysts suggest that while the company faces challenges, it remains profitable and has potential for recovery with improved menu innovation and service [9]

Core Points - ABC has decided to pull Jimmy Kimmel's show off the air "indefinitely" following controversial comments made by Kimmel regarding Charlie Kirk [1] - The decision was confirmed by a spokesperson from ABC to Business Insider [1] Group 1: ABC's Decision - The indefinite suspension of Kimmel's show is a direct response to his comments made during a recent episode [1] - Kimmel's remarks included criticism of the MAGA group in relation to a murder case involving Charlie Kirk [1] Group 2: Backlash and Industry Response - The backlash against Kimmel's comments intensified after FCC chair Brendan Carr condemned them, labeling them as "the sickest conduct possible" [2] - Carr indicated that affiliate licenses could be reviewed, emphasizing that broadcasters must operate "in the public interest" [2] - Following Carr's statements, Nextstar announced it would replace Kimmel's show with alternate programming, expressing strong objections to Kimmel's comments [2]

America is getting a highly-anticipated interest rate change — the first cut of the year. Federal Reserve Chair Jerome Powell announced Wednesday that the central bank will slice rates by a quarter percentage point. The call aligns with expectations: CME FedWatch projected a near-100% chance of a September policy shift in the days before the meeting.The Federal Open Market Committee cited slowing job growth as a key reason for the cut, despite inflation heating up once more. The Fed's goal is to keep emplo ...

Core Viewpoint - Tesla has reached a conditional settlement in a lawsuit related to a fatal crash involving its Autopilot system, avoiding a jury trial just weeks before it was set to begin [1][2]. Group 1: Settlement Details - The settlement documents were filed in Alameda County Superior Court, and the specifics of the settlement remain confidential as per the family's attorneys [2]. - The lawsuit involved a 15-year-old boy who was killed in a 2019 collision when a Tesla Model 3 rear-ended his father's pickup truck while Autopilot was engaged [8][9]. Group 2: Previous Legal Context - This settlement follows a recent Florida federal jury verdict that found Tesla partly responsible for a separate Autopilot-related crash, resulting in $329 million in total damages, with Tesla liable for $242.5 million [3]. - Tesla's legal team has criticized the Florida verdict, arguing that the driver, not the Autopilot system, was responsible for the crash [4]. Group 3: Autopilot Technology - Tesla's Autopilot system allows vehicles to steer, switch lanes, brake, and accelerate independently, but the company emphasizes that it is intended for use with an attentive driver ready to take control [5]. - The California lawsuit accused Tesla of negligence and design defects in its Autopilot technology, while Tesla contended that the driver was responsible for the vehicle's operation [9][10]. Group 4: Legal History - Tesla has faced multiple lawsuits regarding its Autopilot system and has settled several cases, including a wrongful-death lawsuit from the family of an Apple engineer who died in a 2018 crash while using Autopilot [11].

Group 1 - Current homeowners are benefiting from the anticipated Fed rate cut, leading to a 58% increase in refinance applications in the last week and a 70% increase compared to the same week last year [1][8] - There is a notable rise in demand for adjustable-rate mortgages (ARMs), with the share of refinancing activity tied to ARMs reaching 12.9%, the highest since 2008 [2] - The surge in refinancing demand is driven by a significant drop in home borrowing costs, with the 10-year US Treasury yield decreasing to around 4.02% from a peak of 4.8% in early 2025, influencing mortgage rates [3] Group 2 - The 30-year fixed mortgage rate fell by 15 basis points to approximately 6.35%, marking the largest weekly drop in a year, while the 5/1-year adjustable mortgage rate decreased to 5.7% [4] - Overall mortgage activity is increasing, with total applications up 9.2% in the week ending September 5, indicating strong borrower demand since 2022 [8] - The rising activity suggests a positive outlook for the US housing market, which has been stagnant due to high borrowing costs, with expectations of mortgage rates dropping to around 6.25% by year-end as the Fed resumes its easing cycle [9]

Core Points - Jerry Greenfield, co-founder of Ben & Jerry's, announced his resignation from the company, citing a loss of independence in advocating for social and political issues as a primary reason for his departure [2][3][5] - Greenfield expressed disappointment over Unilever's influence on the brand, stating that the original agreement allowing the company to advocate for social causes has been compromised [5][10] - Unilever acquired Ben & Jerry's for $326 million in 2000, with a provision that allowed the brand to maintain its advocacy for social and political causes [4] Company and Industry Summary - Jerry Greenfield's resignation marks a significant change for Ben & Jerry's, a brand known for its commitment to social justice and political activism [2][4] - The relationship between Ben & Jerry's and its parent company, Unilever, has been strained, particularly following the brand's decision in 2021 to stop selling ice cream in Israeli settlements, leading to legal disputes [5][10] - Unilever is currently in the process of spinning off its ice cream business, which may impact the future direction and independence of Ben & Jerry's [9]

Waymo will soon have its robotaxis on the road operated by rivals Lyft and Uber as part of Alphabet company's strategy to bring more self-driving cars to the masses. Waymo said Wednesday it will initially provide rides in Nashville through its proprietary app. As the service expands, riders will be able to match with a fully autonomous Waymo on the Lyft app.In its announcement, Waymo said Lyft will oversee vehicle maintenance and depot operations through the ride-hailing company's subsidiary Flexdrive. Fle ...