Ford is shedding thousands of jobs in Europe

London (CNN Business)Ford is cutting thousands of jobs, ending production of some models and closing a plant in Europe ahead of a possible alliance with market leader Volkswagen. “We are taking decisive action to transform the Ford business in Europe,” Steven Armstrong, Ford’s president for Europe, Middle East and Africa, said in a statement. The carmaker said in July that it would spend $11 billion over the next three to five years to reshape its business around the world. Ford’s sales and profitability are strong in the United States, but the company is trailing competitors badly in China and continuing to struggle in Europe and Latin America. In the first nine months of 2018, Ford reported European losses of $199 …

Herb Kelleher, Southwest Airlines founder, dies at 87

New York (CNN Business)Herb Kelleher, the eccentric founder of Southwest Airlines, died Thursday. He was 87. Kelleher was a young lawyer living in Texas before leaving his firm to start Southwest in the 1960s with the goal of providing low-cost transportation among Houston, Dallas and San Antonio. But then-competitors Braniff, Trans Texas, and Continental Airlines fought to keep his startup out of the skies with a temporary restraining order. Kelleher personally fought the ban, without charging a penny in legal fees, all the way to the Supreme Court of Texas, which eventually ruled in favor of Southwest. The company — which has become known for its cheap fares, lack of seating assignments and all-coach cabins — began flying in 1971. …