Published: Saturday, September 10, 2011
Alaska Airlines faces FAA fine for January fire
The Federal Aviation Administration proposed a $590,000 penalty against Alaska Airlines on Friday, saying it operated a Boeing 737 on 2,107 flights with a defect that caused a cockpit fire. The FAA said a hose clamp had been installed improperly and caused wiring to chafe, leading to the fire in the cockpit ceiling of the jet parked at the gate at Anchorage International Airport on Jan. 18, 2010. It said the maintenance manual for the 737-400 includes an explicit warning about installing the hose clamp properly. The airline then found the same problem on nine other planes in its fleet and fixed them. The FAA said there were no other fires. An airline spokeswoman did not immediately return messages seeking comment. Shares of the airline's Seattle-based parent company Alaska Air Group Inc. fell in afternoon trading.
McDonald's stock falls with sales dip
Shares of McDonald's Corp. fell more than 4 percent Friday after the fast-food giant reported a slowdown in some overseas markets and missed analysts' expectations on a key revenue measure. The company said revenue at stores open at least 13 months declined 0.3 percent in August in the region of Asia/Pacific, the Middle East and Africa. That marked the first monthly decline in that area since November 2009. The company didn't give many specifics on how individual countries fared but said a slowdown in Japan offset strength in China and Australia.
Union talks slow with GM, Chrysler
Contract talks between the United Auto Workers union and General Motors and Chrysler slowed Friday as the union seeks more money and the companies insist on cost cuts to offset pay increases, three people briefed on the negotiations said. Although the talks are progressing, the slowdown over pay comes just five days before the union's national agreements with General Motors Co., Chrysler Group LLC and Ford Motor Co. expire, at 11:59 p.m. Wednesday. "There is still lots to do," said one of the people, who added that negotiators are expected to work at least one of the days this weekend.
Texas man accused of scamming the deaf
Federal regulators have filed civil fraud charges against a man who they say raised about $3.4 million in a scam targeting deaf investors. The Securities and Exchange Commission announced the charges Friday against Jody Dunn of Corinth, Texas. The SEC says in a lawsuit that Dunn, who is deaf, bilked more than 7,000 people by offering investments in life-insurance policies that never delivered on promised big returns. Dunn allegedly used $353,000 of the money he raised to cover his mortgage and other expenses, and put the rest into a firm's offshore accounts. The firm claimed to sell investments in insurance policies bought at a discount from the terminally ill or elderly. The SEC said none of the deaf investors' money was used for that purpose.
From Herald news services
McDonald's stock falls with sales dip
Shares of McDonald's Corp. fell more than 4 percent Friday after the fast-food giant reported a slowdown in some overseas markets and missed analysts' expectations on a key revenue measure. The company said revenue at stores open at least 13 months declined 0.3 percent in August in the region of Asia/Pacific, the Middle East and Africa. That marked the first monthly decline in that area since November 2009. The company didn't give many specifics on how individual countries fared but said a slowdown in Japan offset strength in China and Australia.
Union talks slow with GM, Chrysler
Contract talks between the United Auto Workers union and General Motors and Chrysler slowed Friday as the union seeks more money and the companies insist on cost cuts to offset pay increases, three people briefed on the negotiations said. Although the talks are progressing, the slowdown over pay comes just five days before the union's national agreements with General Motors Co., Chrysler Group LLC and Ford Motor Co. expire, at 11:59 p.m. Wednesday. "There is still lots to do," said one of the people, who added that negotiators are expected to work at least one of the days this weekend.
Texas man accused of scamming the deaf
Federal regulators have filed civil fraud charges against a man who they say raised about $3.4 million in a scam targeting deaf investors. The Securities and Exchange Commission announced the charges Friday against Jody Dunn of Corinth, Texas. The SEC says in a lawsuit that Dunn, who is deaf, bilked more than 7,000 people by offering investments in life-insurance policies that never delivered on promised big returns. Dunn allegedly used $353,000 of the money he raised to cover his mortgage and other expenses, and put the rest into a firm's offshore accounts. The firm claimed to sell investments in insurance policies bought at a discount from the terminally ill or elderly. The SEC said none of the deaf investors' money was used for that purpose.
From Herald news services
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