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Jul 19, 2012

US Airways lays regulatory groundwork for possible merger

WASHINGTON (Reuters) – US Airways Group has been laying the regulatory and political groundwork for a potential merger with American Airlines and would prefer to cement a bid while its rival is in bankruptcy, US Airways Chief Executive Doug Parker said.

Parker told Reuters in an interview on Wednesday that US Airways is working with legal advisers and has had preliminary discussions with officials of the Justice Department’s antitrust division and with congressional lawmakers and staff.

Jul 10, 2012

Treasury needs an exit plan for GM, Ally: watchdog

WASHINGTON (Reuters) – Market conditions have slowed the U.S. Treasury’s progress in selling its stakes in General Motors Co and the automaker’s one-time consumer financing arm, but a solid exit plan is needed, a government watchdog said on Tuesday.

Christy Romero, special inspector general for the government’s financial-crisis-era corporate bailout initiative told a congressional committee that it could take a number of years for taxpayers to simply break even on the investments in GM and Ally Financial, formerly known as GMAC.

Jul 10, 2012

US Treasury should develop exit plan for GM, Ally-watchdog

WASHINGTON, July 10 (Reuters) – Market conditions have
slowed the U.S. Treasury’s progress in selling stakes in General
Motors Co and its one-time consumer financing arm, but
the Obama administration should develop a solid plan for doing
so, a government watchdog said on Tuesday.

Christy Romero, special inspector general for the
financial-crisis-era corporate bailout initiative known as the
Troubled Asset Relief Program, plans to tell a congressional
committee that it could take a number of years for taxpayers to
simply break even on the investments in GM and Ally Financial.

Jul 4, 2012

US Airways: ‘No urgency to merge’

July 4 (Reuters) – US Airways Group is in no rush to
merge with bankrupt American Airlines and expects its rival to
defer any review of a possible deal now that it has asked a
judge for more time to formulate an exit plan on its own.

“That delay is fine by us – there is certainty no urgency to
merge,” US Airways’ chief executive, Doug Parker, said in a note
to employees on Wednesday.

Jun 29, 2012

US Congress poised to wrap up transport, loans, flood bill

WASHINGTON, June 29 (Reuters) – The U.S. Congress was poised
on Friday to approve compromise legislation to fund
transportation programs for two more years, keep loan rates low
for millions of students, and maintain national flood insurance.

The bill came together this week, as lawmakers calculated
the election-year impact of continued gridlock on measures
affecting jobs, soaring consumer debt, and help for people who
need government underwriting for flood risk to buy a home.

Jun 29, 2012

US Congress to vote on transportation, student loan bill

WASHINGTON, June 28 (Reuters) – Congressional negotiators
have cleared the way for votes on legislation covering
transportation construction, student loan rates, and flood
insurance after finalizing a compromise agreement on how to pay
for those priorities.

The House and Senate were set to consider the measure on
Friday, one day before temporary funding for highway, bridge and
transit projects was to expire and three days before an increase
in federal student loan rates was set to take effect.

Jun 28, 2012

Congress to vote on compromise transportation bill

WASHINGTON (Reuters) – The U.S. Congress could begin voting as early as Thursday on a funding package covering highway construction, student loans, and flood insurance after reaching agreement this week on how to pay for the programs.

The agreement came just days before federal funding for transportation programs is set to expire, and ahead of a hike in interest rates on federal loans for college students.

Jun 25, 2012

FAA fire, US storms cancel, delay weekend flights

WASHINGTON (Reuters) – A fire at an air traffic facility in New Jersey on Friday knocked out electronics that help coordinate flights into and out of airports, and airlines said the glitch worsened a day of heavy delays and cancellations triggered by storms in the eastern United States.

The Federal Aviation Administration FAA.L said the early afternoon EDT.L fire at its technical center in Atlantic City knocked out servers and left some automated systems used to efficiently communicate the status of airport ground operations temporarily unavailable.

Jun 23, 2012

FAA fire, US storms cancel, delay flights

WASHINGTON, June 22 (Reuters) – A fire at an air traffic
facility in New Jersey on Friday knocked out electronics that
help coordinate flights into and out of airports, and airlines
said the glitch worsened a day of heavy delays and cancellations
triggered by storms in the eastern United States.

The Federal Aviation Administration (FAA) said the early
afternoon (EDT) fire at its technical center in Atlantic City
knocked out servers and left some automated systems used to
efficiently communicate the status of airport ground operations
temporarily unavailable.

Jun 21, 2012

Class status granted in US rail price fixing case

WASHINGTON, June 21 (Reuters) – A lawsuit alleging that
major U.S. freight railroads conspired to drive up shipping
costs by fixing fuel surcharges, generating billions of dollars
in extra revenue, can move forward as a class action case, a
judge ruled on Thursday.

U.S. District Judge Paul Friedman of the District of
Columbia court certified a consolidated case involving eight
shipping companies who claim they were “subjected to an endless
string of rate increases” between 2003-08.