Business Newsreel: New airport service launches
BOSTON — FlightCar, a peer-to-peer car-sharing company that operates at airports, announced the launch of a new business traveler service on Tuesday.
FlightCar offers travelers free airport parking near Boston’s Logan Airport, with an opportunity to earn up to 0.20 cents a mile if they rent their vehicles out to other travelers.
FlightCar introduced its car sharing service last February and now has more than 13,000 members, nearly half of which have parked at company lots across San Francisco, Boston and Los Angeles.
Catering to business travelers whose employers pay for airport parking, FlightCar will now offer a new option. Instead of free parking, customers who chose to pay $15 per day will earn 0.50 cents per mile instead of .20 cents when their car is rented.
Time CEO restructures ahead of spin-off
NEW YORK — Time Inc. Chief Executive Officer Joe Ripp is reorganizing the structure of the world’s largest magazine publisher and consolidating oversight as it prepares to spin off from its corporate parent Time Warner, according to a memo to staff on Tuesday.
Time is eliminating three operating units — sports and news, lifestyle and entertainment — that divided its stable of titles such as popular U.S. magazines Sports Illustrated and People.
The company also plans to cut about 500 positions globally, or roughly 6 percent of its workforce, said a person familiar with the company.
The move to reorganize the publisher’s six-year-old structure comes as Time integrates American Express Publishing, which it bought last year, and prepares to separate from Time Warner.
Apple, U.S. clash in court over e-books
Apple Inc. urged a federal appeals court on Tuesday to put a court-appointed antitrust monitor on hold, arguing that his efforts were harming the company’s business.
The iPhone maker asked the 2nd U.S. Circuit Court of Appeals in New York to halt monitor Michael Bromwich’s work while the court considers Apple’s bid to remove him altogether, a process that could last several months.
But a U.S. Department of Justice lawyer told the court that the monitor was essential to ensure that Apple complies with the law, after a federal judge last summer found the company liable for conspiring with five publishers to raise e-book prices