1. UNITED CONTINENTAL CEO SAYS THE AIRLINE IS FINALLY SHAPING UP
Last year was "awful" for United Continental, CEO Jeff Smisek told the Wall Street Journal, as the company struggled to work out kinks that followed the high-profile merger between United and Continental in 2010. Smisek cited lost profits, delayed flights, reservations snafus, and angry customers. However, Smisek claimed that the company's fortunes are turning around: Complaints are down, on-time performance is up, and the company is cutting costs on everything from luggage-handling to complimentary nuts. [The Wall Street Journal]
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2. ACTIVIST HEDGE FUND SEEKS TO SPLIT UP SMITHFIELD FOODS
Just weeks after China's largest meat producer, Shuanghui International Holdings, agreed to buy Smithfield Foods for $4.7 billion, activist hedge fund Starboard Value is offering an alternate plan that values the company at around $7.1 billion. The catch: Smithfield, a vertically integrated company that raises, slaughters, and processes pigs into ham and bacon, would be split into three separate companies. [The New York Times]
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3. NETFLIX TEAMS UP WITH DREAMWORKS
In its largest original content deal yet, Netflix has signed a contract with DreamWorks Animation that will see the animation company produce 300 hours of new programming for the video-streaming service. The programming will reportedly be inspired by existing DreamWorks properties, which include Shrek and Kung Fu Panda. Though the companies did not share the cost or length of the contract, analysts estimate that Netflix could be paying between $25 million to $50 million a year. Share prices of both companies surged on the news. [Reuters]
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4. POLL SHOWS MANY AMERICANS DISLIKE THEIR JOBS
Gallup’s latest State of the American Workplace poll showed that 18 percent of American workers are "actively disengaged with their jobs." Rhode Island, Connecticut, and New Jersey had the largest percentage of disengaged workers, who Gallup said are "more likely to steal from their companies, negatively influence their coworkers, miss workdays, and drive customers away." States with disengaged workers tended to have higher unemployment rates, which makes sense because people are more likely to get an interesting job in a state with more job opportunities, said Jim Hartner, Gallup’s chief scientist. [247 Wall Street]
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5. POPE NAMES TEMPORARY HEAD FOR VATICAN BANK
Pope Francis has chosen Vatican manager Monsignor Battista Mario Salvatore Ricca to temporarily run the Vatican Bank as it tries to recover from money-laundering accusations. The bank, which Forbes once called "the most secret bank in the world," previously said it would start sharing financial-transaction information with U.S. banking regulators and publishing its financial accounts. [Businessweek]
