$8.60

+11.5%

Merger preparations between Delta Air Lines and Northwest Airlines are helped by "having people on both sides who have known each other over time," Northwest CEO Doug Steenland said Wednesday during a conference call on the airline's financial results.

Delta CEO Richard Anderson, who would be head of the merged airline, is former chief executive of Eagan, Minn.-based Northwest.

Steve Gorman, executive vice president of operations for Atlanta-based Delta, is a former Northwest executive vice president.

Northwest's chief financial officer, David Davis, is a former Delta finance executive.

Steenland said the companies have hit all "milestones" so far in the U.S. Justice Department's review of the merger, which the companies expect to close by the end of the year pending regulatory approval.

Standard & Poor's upgraded Delta and Northwest shares Wednesday, noting the pullback in oil prices and potential benefits of the merger.

—- Kelly Yamanouchi

EarthLink picks board member

EarthLink has named telecommunications veteran M. Wayne Wisehart to its board. Wisehart will serve on the Internet provider's audit, finance and corporate governance committees.

Wisehart was chief financial officer of aQuantive, a digital marketing services company bought by Microsoft in 2007.

He has also served as an executive for other Internet, software and telecom companies.

Two members —- Robert Kavner and William Harris Jr. —-will retire from the board Friday. Kavner has served on the board since 1996. Harris has been a member since 2003 and was chairman from 2005 through January this year.

EarthLink is set to report earnings Tuesday.

—- Kristi E. Swartz