Northwest stock price tumbles on wave of bad news

Northwest Airlines Corp. shares plunged more than 12 percent today as investors in the nation’s fourth-largest carrier were buffeted by several pieces of bad news.

A $50 each-way fare increase aimed at business travelers failed when other carriers failed to match it. Regulatory filings show that Northwest chairman Gary L. Wilson has now sold nearly 60 percent of his stake in the company. And the Wall Street Journal highlighted Northwest’s labor troubles in today’s editions and reported the airline could be close to bankruptcy.

Minneapolis StarTribune