Greenspan urges caution as Congress debates swift tax cuts
Washington faces a surge of emergency spending after Sept. 11 with 40 billion approved and up to 17.5 billion more for airline bailouts, plus possible tens of billions in tax cuts. Greenspan urged restraint until the overall budget impact is clear while lawmakers push for security spending and faster economic stimulus. The debate centers on capital gains cuts, payroll tax relief, and depreciation accelerations amid a war footing.
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Congress
Bush
Saudi Binladin Group says it cut ties with accused terrorist
The Saudi Binladin Group, linked to Osama bin Laden in the past, says it long ago disowned him and holds no current business with him. Motorola Inc and Tellabs Inc say they have no plans to stop doing business with the conglomerate, which also distributes for them in Saudi Arabia. The WSJ notes the holding company has about $5 billion in annual revenue across construction, manufacturing and telecom.
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Chicago
KRT
Saudi Binladen Group
Osama bin Laden
U.S
bin Laden
Chicago Area
Motorola Inc
Tellabs Inc
World Trade Center
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Saudi Binladin Group
Saudi Arabia
General Electric
Wall Street Journal
Motorola denies links to Osama bin Laden family business
Motorola says it follows U S government bans and has no connection to Osama bin Laden. For six years it distributed phones in Saudi Arabia with Tellabs also involved. Tellabs and Motorola spokespeople deny any ties to Osama bin Laden. The Wall Street Journal notes bin Laden worked in the family business as a student.
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Binladin
Abdullah Awad Obood bin Laden
Osama
Motorola
Saudi Arabia
Jennifer Weyrauch
Osama bin Laden
Jean Medina
Tellabs
Wall Street Journal
National news magazines mute covers after attacks
New York AP report notes major weeklies withdrew typical bright covers for somber artwork after terrorist attacks. Time and Business Week used black borders. New Yorker offered stark black on black art by Art Spiegelman. The Economist avoided a plane crash image, showing the financial district after the collapse.
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New York
Business Week
City Guide
Art Spiegelman
Twin Towers
the Economist
Financial
Airlines Push for Aid Package Amid Sept. 11 Fallout
White House proposes an aid package for U S airlines smaller than the 17.5 billion asked by industry officials. Delta chairman Leo Mullin said 5 billion in grants and 12.5 billion in credit were requested, with talks under way on whether loans could be delayed.
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Washington
White House
Delta Airlines
Leo Mullin
Congress
Bush Administration
Mullin
Airlines slash more jobs after terrorist attacks
AMR Corp the parent of American Airlines said it will lay off at least 20,000 employees across American Trans World Airlines and American Eagle, about 14 percent of its workforce. United Airlines also announced 20,000 cuts. The industry seeks a multibillion aid package as demand plunges and security measures tighten.
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Dallas
American Airlines
AMR Corp
American
Trans World Airlines
American Eagle
United Airlines
Washington
US Airways
Continental
America West
America Trans Air
National Airlines
Virgin Atlantic
Midway Airlines
Chicago Tourism Slump Tied to East Coast Attacks
Tourism and conventions in Illinois have fallen sharply amid last week’s terrorist attacks and disrupted air travel. Officials warn of a potential statewide economic hit as visitors postpone trips. some areas may see modest gains from travelers seeking close-to-home attractions.
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Bruce Wicks
Department of Leisure Studies
University of Illinois
Wicks
Illinois
George Ryan
Jerry Roper
Chicagoland Chamber of Commerce
Roper
American Society For Microbiology
Galena
Springfield
Aviation industry reels after Sept 11 attacks
Seattle AP report details a crisis hit by the hijackings, with American Airlines cutting at least 20,000 jobs and Boeing planning up to 30,000 layoffs, amid airline route cuts, industry peril, and calls for a $17.5 billion federal aid package as suppliers and travelers adjust. Mulally promotes Sonic Cruiser while urging airline health.
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Seattle
American
Boeing
Jennifer Dunn
Airlines
Boeing Commercial
Alan Mulally
Mulally
Boeing plans up to 30000 layoffs in 2002
Boeing Co. plans to lay off as many as 30,000 commercial airplane workers by year end 2002 citing expected slowdown in orders after last week’s terrorist attacks. Revenue by sector appears affected as the airliner maker adjusts staffing and capacity to market demand.
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Bush
Congress
House
Boeing Co
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R-Ill
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Douglas Parker
Temper Ariz
Donald Carty
Amr
TWA
Association of Professional Flight Attendants
Paul Nisbet
JSA Research
Delta
Northwest
United
Microsoft MoneyCentral
CSI Inc
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