Business News Archive - July 26, 2008

By Stephen Foley Chrysler, the heavily indebted carmaker owned by the private equity giant Cerberus Capital Management, is pulling out of the vehicle-leasing business, in the latest sign of stress for the US auto industry.

By CAROL WERSICH, Courier & Press staff writer 464-7452 or wersichc@courierpress.com Greg Wathen took a Cape Air flight from Evansville Regional Airport to Indianapolis early Thursday morning, attended two business meetings in the morning, one meeting in the afternoon and looked forward to returning to Evansville by 5:30 p.m.

By Bonnie Pfister To the list of casualties of record-high oil prices, add the prospect of restoring direct air service between Pittsburgh and Europe anytime soon.

By SIMON CALDER COMMENT This perfect storm, or so the airlines believed until yesterday, had three dimensions: the unprecedented price of oil; weakening demand from cash-strapped holidaymakers and businesses; and reluctance among the banks to shore up ailing carriers.

ANALYSTS say low-cost airline Jet2.com is contracting after an overly ambitious expansion. Dart Group, which owns the airline, yesterday told shareholders it would not be paying a dividend "given both the current economic climate and trading performance for the year".

STOCKHOLM, Sweden (AP) - Swedish airport staff were not amused when a team from a TV comedy show tried to check in a suitcase with a dwarf inside.Employees at Bromma airport called police when the dwarf hopped out of the suitcase at the check-in counter.Police soon found that it was a stunt being filmed by a hidden camera for a program on private TV network Kanal 5.Police spokesman Mats Eriksson says airport staff decided against filing charges even though they were "shocked and humiliated" by Wednesday's stunt.Kanal 5 spokesman Dan Panas told Swedish news agency TT that the show was meant to be "provocative and entertaining."He said the stunt was not meant to make fun of little people, but to make entertainment out of "extreme situations." (c) 2008 Telegraph - Herald (Dubuque).

Tobacco One, Inc. (Pink Sheets: TBCO) announced today that it has canceled an agreement to purchase a leading U.S. tobacco product manufacturer. The company has been unable to complete the due diligence required to the satisfaction of the shareholders and financial partners.

By The Associated Press PRICE, Utah (AP) - The operator of a collapsed Utah mine violated safety protocols by cutting coal pillars that should have been left standing to prevent cave-ins, federal regulators said Thursday.The officials said a subsidiary of Ohio-based Murray Energy Corp.

Reliance Steel & Aluminum Co. Kim P. Feazle Investor Relations 713-610-9937 213-576-2428 kfeazle@rsac.com investor@rsac.com Logo: http://www.rsac.com Reliance Steel & Aluminum Co.

By James Daley Personal Finance Editor Over the past few years, the Government has been busy laying the groundwork for what could be the biggest financial mis-selling scandal of all time.

Word of the Day
  • A hairdresser.
The word 'friseur' comes from French friseur, from friser ("to curl, frizz").