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Stories we’re watching...

Monday, June 13, 2022 by Snacks

Gun giants in the spotlight… As US gun violence soars, weapons makers are being sued more frequently. Families of Sandy Hook victims settled with Remington for $73M earlier this year, and Glock was recently sued over irresponsible marketing. Victims are using a strategy that won settlements from tobacco giant Philip Morris and opioid maker Purdue Pharma. Meanwhile, Congress is debating bills that would make it harder to buy guns (including raising the minimum purchase age), which could hit gun makers’ sales, though they’re unlikely to pass.

BYOP... Bring your own peanuts. Spirit’s takeover drama appears to be approaching its climax. Shareholders have 17 days to decide whether the budget carrier’s new home will be with Frontier or JetBlue (or neither). Last week JB doubled the fee it would pay Spirit shareholders if the deal falls through for antitrust reasons — topping Frontier’s $250M offer by $100M. A pilot shortage and high fuel costs are making it harder for airlines to meet demand. A Spirit-quisition would give the new mega-carrier more seats, routes, and workers.

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