Nevada Supreme Court Denies Jobless Benefits in Airwest Stall
The Nevada Supreme Court on Tuesday refused unemployment payments to 40 senior PCS pilots and NCY first officers tied to a Hughes Airwest labor dispute, citing state law barring benefits for workers out due to a labor dispute at their place of last employment. The court reversed parts of a lower ruling to grant benefits to Airwest Fairchild pilots and officers in Nevada who were also out of work during the dispute.
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Market Drops as Rates Rise Shake Wall Street
New York stocks fell sharply as concerns about rising interest rates sparked selling. The Dow lost 7.88 points to 824.24, while the NYSE composite slid 46 to 7,763 and trading volume neared 10.1 million shares at noon.
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