Karen's Feed
Nov 15, 2012

U.S. housing not yet out of the woods-Bernanke

ATLANTA, Nov 15 (Reuters) – The improving U.S. housing
market is “far from being out of the woods,” Federal Reserve
Chairman Ben Bernanke said on Thursday, arguing that overly
tight lending standards are part of the problem.

The Fed, which has focused on mortgage bonds in its latest
round of asset purchases, will continue to do what it can to
support the housing market, Bernanke said in a speech that
avoided policy specifics.

Nov 1, 2012

Airlines look to resume full flight schedules in New York area

Nov 1 (Reuters) – Major U.S. airlines moved to build up
service in the New York area on Thursday, with the number of
canceled flights easing as LaGuardia Airport re-opened for
business in the wake of Hurricane Sandy.

Airlines had canceled about 750 flights for Thursday as of
late afternoon, according to flight-tracking service
FlightAware.com. That was the lowest daily tally of halted
flights since airlines began cutting their U.S. flying on Sunday
ahead of the storm.

Oct 30, 2012

Travelers, cargo stranded as U.S. airports, rails assess damage

Oct 30 (Reuters) – As rail, transit, airline and port
workers dug through debris, dealt with power outages and
assessed damage on Tuesday, one thing became increasingly clear:

Restoring transportation could take some time.

Hurricane Sandy’s assault on the Eastern U.S. so brutally
flooded tracks and roads, felled trees and downed power lines,
it could be days or weeks before travelers and cargo are moving
around normally again, officials said.

Oct 30, 2012

Hurricane Sandy hits travel, cargo

By Karen Jacobs and Nick Zieminski

(Reuters) – Transportation ground to a halt along the U.S. Northeast coast on Monday, stranding local rail commuters, cruise passengers and air travellers from as far away as Europe and Asia, as Hurricane Sandy prompted closure of air, ship, rail and even highway service.

The transport woes also hit cargo operations, adding another dimension to the storm’s economic toll.

Oct 29, 2012

Hurricane Sandy hits travel, cargo; costs unclear

Oct 29 (Reuters) – Transportation ground to a halt along the
U.S. Northeast coast on Monday, stranding local rail commuters,
cruise passengers and air travelers from as far away as Europe
and Asia, as Hurricane Sandy prompted closure of air, ship, rail
and even highway service.

The transport woes also hit cargo operations, adding another
dimension to the storm’s economic toll.

Oct 29, 2012

Hurricane Sandy hits travel, cargo operations; costs unclear

Oct 29 (Reuters) – Transportation ground to a halt along the
U.S. Northeast coast on Monday, stranding local rail commuters,
cruise passengers and air travelers from as far away as Europe
and Asia, as Hurricane Sandy prompted closure of air, ship, rail
and even highway service.

The transport woes also hit cargo operations, adding another
dimension to the storm’s economic toll.

Oct 25, 2012

United Continental profit falls, shares down

By Karen Jacobs

(Reuters) – United Continental Holdings Inc (UAL.N: Quote, Profile, Research, Stock Buzz), the world’s biggest airline, missed Wall Street estimates for third-quarter profit as revenue fell and expenses rose, sending its shares down nearly 4 percent on Thursday.

The company, formed when United bought Continental Airlines in 2010, said it was out to win back customers who turned to competitors after technology changes hurt service and revenue performance over the summer.

Oct 23, 2012

American Airlines pilots union cites progress in labor talks

Oct 23 (Reuters) – The union representing American Airlines
pilots said on Tuesday that talks on a new labor contract with
the airline were moving forward, but the airline said only that
it was continuing to work toward a deal.

American and its parent AMR Corp have made
“encouraging” changes to some positions in recent talks, said
Dennis Tajer, a spokesman for the Allied Pilots Association.

Oct 18, 2012

Southwest posts profit, plans to cut costs

By Karen Jacobs

(Reuters) – Rising costs and limited growth kept quarterly profit under pressure at Southwest Airlines Co (LUV.N: Quote, Profile, Research, Stock Buzz), the carrier said on Thursday, adding that it plans to watch employment closely next year in an aggressive bid to cut costs.

Southwest is not planning layoffs, but will control its hiring so that headcount does not increase, Chief Executive Gary Kelly said during the company’s earnings call. He declined to discuss planned employment levels, but said the airline hopes to cut corporate overhead by $100 million.

Oct 18, 2012

American Airlines posts loss, but business improves

By Karen Jacobs

(Reuters) – American Airlines parent AMR Corp reported a net loss for the third quarter, but excluding one-time accounting charges it posted a higher-than-expected profit as fuel costs fell and international ventures aided revenue.

The company, which filed for Chapter 11 bankruptcy protection last November and is evaluating a potential merger with rival US Airways Group (LCC.N: Quote, Profile, Research, Stock Buzz), took nearly $350 million in accounting charges that gave it a $238 million loss for the quarter.