The Daily Docket: American Airlines Parent Seeks to Cut Jobs, Pensio...

American Airlines parent AMR Corp. Wednesday said it will seek to cut 13,000 jobs and terminate pensions in pursuit of $2 billion in annual costs savings, tipping its hand for the first time in what could be a long and painful bankruptcy proceeding. Read The Wall Street Journal reports.

A federal bankruptcy judge Wednesday rejected a bid by commodities customers of MF Global Inc. for special priority status over other creditors in the Chapter 11 case of its parent company, MF Global Holdings Ltd. Read the Daily Bankruptcy Review story here, via WSJ.

4Kids Entertainment Inc. won more time to engineer a reorganization plan in the wake of a ruling over a crucial dispute in its bankruptcy case. Read the Daily Bankruptcy Review Small Cap story here.

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Italian auto maker Fiat SpA is reconsidering development plans in Europe amid the continent’s economic slowdown while offering an upbeat outlook for the year after a big boost from Chrysler, WSJ reports.

The age of austerity hasn’t yet reached the Premier League, the Telegraph writes, and some of the U.K.’s best soccer clubs could face bankruptcy if they don’t clamp down on spending.

The hype around the sale of the Los Angeles Dodgers makes trying to find a valuation for the ball club tricky, writes Bloomberg.

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