New American Airlines CEO described as financial wizard with people skills
Gerard Arpey, longtime American Airlines executive, becomes CEO as AMR fights losses and near bankruptcy. He brokered the concessions with unions, earning praise for industry knowledge and people skills while facing post Sept 11 economic woes and low cost carrier competition.
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U.S. Vietnam pact caps textile shipments
The Bush administration announced a Saturday deal to limit Vietnam textile and clothing shipments to the United States.Effective May 1, quotas apply to 38 categories, aiming to curb a surge since normalizing trade relations in 2001. First year cap set at 1.65 billion dollars amid industry praise and Vietnamese objections.
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