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Consumer Corner: Foreclosure settlement no magic bullet for economy
CHICAGO, May 30 (UPI) -- Two U.S. airlines, United Airlines and US Airways, have scuttled merger talks because United is about to align itself with Continental Airlines, sources say.
The Wall Street Journal reported Friday that two sources familiar with the situation said the United-US Airways merger discussions were called off after Glenn Tilton, chief executive officer of United's parent firm, UAL Corp. of Chicago, informed Doug Parker, head of US Airways Group Inc. of Tempe, Ariz., that the Continental alliance deal was close to fruition.
The United and US Airways merger exploration had been going on for more than two months, while Continental had rejected a total merger with UAL a month ago, the newspaper said.
Tilton reportedly told Parker about the situation with Continental at lunch Thursday. An alliance with the Houston airline wouldn't be as costly nor would it attract as much attention from the U.S. Justice Department, the Journal reported.
However, the sources told the Journal that Tilton told Parker that while the merger is off the table for now, he didn't rule out returning to the topic in the future.
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CARACAS, Venezuela, Feb. 14 (UPI) --
The Venezuelan environment minister said about 90 percent the oil spilled in the River Guarapiche in the east of the country was contained.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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