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Consumer Corner: Foreclosure settlement no magic bullet for economy
PORTLAND, Ore., Aug. 17 (UPI) -- U.S. airlines could be hit with $10 billion in losses amid a slowing economy and skyrocketing fuel prices, analysts say.
Already, airlines are charging passengers for extra baggage and bottled water to recoup costs. Now the nation's smaller airports might begin to see flights cuts, The (Portland) Oregonian reported Sunday.
Industry analysts say high fuel costs alone have changed the way U.S. airlines do business.
"We are at a critical time in the industry," said Darin Lee of LECG, an economics consulting firm based in Cambridge, Mass. "What we're seeing is a very unique situation."
The newspaper reported at least six airlines have filed for Chapter 11 bankruptcy protection so far this year, while several others are on the verge of bankruptcy.
"If an airline's prices were to rise to cover their costs and also include a reasonable return, I think we'll get to a point where people who used to travel won't be able to anymore," Lee was quoted as saying.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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SAN DIEGO, Feb. 13 (UPI) --
Northrop Grumman reports it will work on the second phase of the U.S. Navy project to deploy new tactical computing network systems aboard ships.
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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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