Cendant Corp., less than six weeks after it announced it was breaking itself up into its component businesses (ATWOnline, Oct. 26), warned that fourth-quarter earnings will not meet expectations owing to "continuing challenges at its Travel Distribution Services division," which includes Orbitz and the Galileo GDS. Concurrently, the company announced that Samuel Katz no longer will serve as chairman and CEO of the TDS division and will be leaving Cendant "after a short transition." Cendant ...

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