Greyhound resolves alleged ADA violations
Greyhound Lines agreed to pay $300,000 to certain bus passengers and a $75,000 civil penalty to resolve allegations that it repeatedly violated the Americans with Disabilities Act. Under the terms of a consent decree filed Monday in Delaware, the company also will implement several reforms, including hiring an ADA compliance manager. The consent decree resolves claims that Greyhound failed to provide proper services to disabled passengers, including failing to maintain features such as lifts on its buses and to assist passengers in boarding and exiting buses. Greyhound has agreed to compensate individuals who experienced barriers based on disabilities during the three years before Monday's filing.
Apollo Education to go private in $1.1B deal
Apollo Education is being taken private in a $1.1 billion deal by a consortium led by private investment firm the Vistria Group. Shares jumped more than 24 percent to $8.62 in trading Monday. The announcement came about a month after the owner of the University of Phoenix and Western International University among others signaled that it may be looking for a buyer. Apollo Education has had several lackluster quarters as enrollments at for-profit schools fell amid increased government scrutiny of the industry. Shareholders of Apollo Education Group Inc. will receive $9.50 per share, a 37 percent premium to the Phoenix-based company's $6.95 Friday closing price.
Drone operators surpass licensed pilots
The Federal Aviation Administration said there are now more registered drone operators in the U.S. than there are licensed pilots. FAA Administrator Michael Huerta told a legal forum on Monday that the agency passed the milestone last week when it topped 325,000 registered drone owners. There are 320,000 licensed pilots of manned aircraft. Huerta said the number of small unmanned aircraft is even larger because drone operators often own more than one drone.
Honda is recalling 45,000 new Civics
Honda is recalling about 45,000 newly redesigned Civic compact cars in the U.S. and Canada because the engines can fail and stall while being driven. The recall affects 2016 Civics equipped with 2-liter four-cylinder engines. Documents filed by Canadian safety regulators said that a circular clip around the pistons might be missing or was improperly installed at the factory. That can cause a pin on the piston to rub against the engine block and possibly cause engine failure or a fire. It was unclear if any crashes, fires or injuries had happened. Dealers will inspect the piston clips and fix them if necessary. In the U.S., dealers can't sell the affected cars until they are repaired. The recall covers about 34,000 Civics in the U.S. and roughly 11,000 in Canada.
Mazda issues recall for 237K SUVs
Mazda is recalling some SUVs because the fuel filler pipe can rupture in a rear crash and cause a gas leak and possible fire. The recall covers nearly 237,000 CX-5 SUVs from the 2014 and 2015 model years. The problem was discovered in crash testing when the pipe ruptured and spilled fuel that exceeded limits set by crash test standards. Dealers will remove a bolt on the left side of the pipe, redirecting the rear crash impact to prevent pipe ruptures, according to documents filed by Canadian safety regulators.
Gap's brands slump in fourth quarter
Gap Inc. reported slumping sales at all three brands for the critical fourth-quarter, which covered the holiday season. The company, which operates Gap, Old Navy and Banana Republic stores, said Monday that a key revenue measure, sales at established stores, fell 7 percent in the November-January period. The figure fell 3 percent for the Gap brand, 14 percent for Banana Republic and 8 percent at Old Navy, which until a few months ago had been a bright spot. Gap also said Monday that it expects adjusted profit for the year to be at the high-end of the range it had previously predicted. It now expects $2.41 to $2.42 per share, from its prior forecast of $2.38 to $2.42 per share.