Business briefing, April 29
American becomes latest carrier to tack on baggage surcharge
American Airlines on Monday became the latest carrier to announce that it would require passengers to pack light, or pay up.
The nation's biggest airline said it will charge passengers $25 for checking a second bag to help offset rising fuel costs.
This year, American, United Airlines, the nation's No. 2 carrier, Continental Airlines, Northwest Airlines, Alaska Airlines and JetBlue Airways have all announced charges for something that has been free since commercial airlines began flying.
KERKORIAN MAKES FORD OFFER
Billionaire Kirk Kerkorian made yet another foray into the troubled automotive industry on Monday with an offer to expand his stake in Ford Motor Co. to 5.6 percent.
Kerkorian's investment company, Tracinda Corp., said in a news release that it sees signs the automaker's turnaround plan is working, and it plans to offer $8.50 per share in cash for up to 20 million additional shares.
* Ford reached a tentative three-year labor agreement with the Canadian Auto Workers more than four months early that would keep wages the same and give an Ontario plant an extra year, the union said.
The tentative three-year accord, which faces a ratification vote by CAW members at the automaker, also calls for workers to give up one week of vacation and doesn't allow Ford to reduce pay for new hires, the Toronto-based union said.
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