Business News Archive - September 06, 2008

U.S. officials told Fannie Mae and Freddie Mac Friday the institutions will be placed in conservatorship, The New York Times reported. Under the plan, the government would guarantee the two mortgage giants' debt.

SCOTTISH budget airline Flyglobespan have landed a military contract to fly to the Falkland Islands twice a week. The service will carry a mixture of civilian passengers and Army troops in and out of RAF Brize Norton in Oxfordshire. The Ministry of Defence agreed the two-year deal.

US Airways said it intends to end flights from Pittsburgh to its three nonstop destinations in Florida in January, as the airline continues to cut capacity to combat high fuel costs.

The number of passengers at Pittsburgh International Airport fell to 823,510 in July, a 10.4 percent drop from the year earlier, the Allegheny County Airport Authority reported Thursday.

Few industries have the spotlight turned on them more than the airline business. So how are the PR teams coping?Polly Devaney investigates. It is a challenging time for airlines, to put it mildly.

By CRAIG D REBER While University of Du-buque faculty, staff and students sought solace in a prayer service Thursday for two students critically burned in an airplane crash, federal aviation investigators probed the Cassville, Wis., site.Juniors Cory Alsip, of Glendale Heights, Ill., and Grant Vogt, of Dubuque, students in UD's aviation program, remained in critical condition at the University of Wisconsin Hospitals and Clinics in Madison.The Socata Trinidad TB 20, manufactured in 1997, went down Wednesday afternoon.

A geological study of South America suggests the Andes Mountains may hold a treasure trove of undiscovered minerals, researchers said. The U.S. Geological Survey said researchers estimate the Andes may hold 826 million tons of copper in undiscovered porphyry copper deposits.

By Rick Stouffer When faced with an $800 million bill in 2003 for employee and retiree health care benefits, Alcoa Inc.'s management took action. The result was a benefits transformation that's kept annual costs since 2004 flat, while improving employees' health.

By BRYAN CORBIN Courier & Press Statehouse bureau (317) 631-7405 or corbinb@courierpress.com INDIANAPOLIS - The Duke Energy power plant under construction in Edwardsport, Ind., that will convert coal into gas to produce electricity, also could be the test site for a new technology to capture carbon dioxide emissions.

By Ambrose Clancy Last winter, after 32 years delivering fuel oil, Peter Vitale was ready to enter another profession. "I felt like becoming a shrink with everyone complaining," said Vitale, owner of Old Country Fuel Oil in Huntington, which services about 300 customers.

Word of the Day
  • An armed gangster.
The word 'shotta' is an alteration of 'shooter'.