Gulf Coast hotels lure visitors despite oil spill
Gulf Coast resorts report sharp May occupancy gains near coastlines in Louisiana Mississippi and Alabama as dramatic rate cuts and promotions entice travelers despite the BP oil spill off Louisiana. Officials warn the long term impact remains uncertain with potential declines once the crisis broadens.
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AIG in Better Shape to Repay Bailout Says Treasury Official
Treasury official Millstein testified that American International Group is better positioned to repay the $182 billion bailout but repayment depends on future profitability and industry strength. He cited planned sales of two large subsidiaries and improved market confidence as key steps. Benmosche said AIG has reduced reliance on government aid by attracting private funding.
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