Chapter 11 Bankruptcy, Ceo | featured news

Tribune Co. owners are again casting around for candidates to lead the troubled media outfit, which has been in Chapter 11 for more than three years. Former NBCUniversal boss Jeff Zucker is a leading candidate to run the debt-plagued newspaper and TV station company, sources said.

Michael Conway was the founder and CEO of National Airlines. The mission of the airline was to bring tourists to Las Vegas, to visit their money I suppose. The airline started service in 1999, but was never profitable. In December 2000 it went into Chapter 11.

Tribune Co. CEO Randy Michaels resigned Friday amid tales of raunchy behavior as one of America's biggest media companies looked to shift attention back to its efforts to emerge from bankruptcy protection. Hours later, the company filed its latest reorganization plan in court.

CEO Fritz Henderson calls the move 'a defining moment' in the company's reinvention. In trading, shares of GM dropped 28%. Meanwhile, Chrysler takes another step toward emerging from bankruptcy.

Robert Nardelli, Chrysler's departing chairman and chief executive, said he expects the sale of the bulk of Chrysler's assets to a group headed by Italy's Fiat Group SpA to close Friday, assuming the judge overseeing the automaker's bankruptcy protection case approves the deal.

Under bankruptcy plan government is preparing, Fiat management would take control, sources say.