Dow Jones Falls as Earnings, Energy Surge Drag Markets
Dow slips 213.32 points to 14,867.99 amid weak results from General Electric and Citigroup and energy price spikes. Energy worries, Iran tensions, and tempered Motorola outlook weigh on stocks. week loses: Dow down 2.67 percent, S&P 500 down 2.00 percent, Nasdaq down 2.99 percent.
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New York
Dow Donds Industrials Ceneral Elettric Co
Citigroup Inc
Dow
Eac
Iran
Motorola Inc
Geang Citigroup
Wall Street
Rick Pendergraft
Schaeffer
Pendergraft
United States
New York Mercantile Exchange
University of Michigan
Federal Reserve
United Airlines clears final bankruptcy exit in 2005
United Airlines gains final court approval to exit Chapter 11 after a three year stay. The carrier aims to be leaner and more efficient while battling high fuel costs and striving for profitability after the 2000s downturn. Separately New York transit workers narrowly reject a three year contract by a seven vote margin amid a wage and conditions stalemate. KeyCorp reports Q4 earnings up 29 percent to 286 million on stronger loans and deposits, with charges and portfolio sales noted.
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Chicago United Airlines
Avar
Eugene Wedell
VAL Corp
United
Roger Toussaint
Cleveland
KeyCorp
Harnings
Pilots Accept Pay and Pension Cuts at Comair
Comair pilots ratified amendments to the labor contract by a narrow 704 to 688 vote. The package cuts pay 9 to 21 percent, trims retirement benefits, and changes work rules to help the airline compete with Delta feeder service. Pilot salaries range from 23 000 to about 110 000 annually. The concessions are part of a 70 million dollar cost reduction effort, with support from some union leaders despite a close vote.
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Cincinnati
Comair Iols
Delta Air Lines Inc
Air Line Pilots Association
Comair
Dylan Moynihan
Moynihan
Lawson
McAl
Dave Loaper
Conair
Brianger
Enron case centers on lies by Lay and Skilling
The case questions whether Enron founders Kenneth Lay and Jeffrey Skilling knowingly misled investors and the public about Enron's finances. Prosecutors allege conspiracy and fraud tied to inflated profits and off book debt, while Lay and Skilling deny any wrongdoing.
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Houston
Enron Corp
Enron
Kenneth Lay
CMO
Jeffrey Shilling
Lay
Skilling
Robert Mintz
Wall Street
Iraus
Munsider Trading
Gas prices rise regionwide amid world tensions
AAA reports crude oil near $46 a barrel and rising tensions between Tehran and the western world. Despite the national trend Elyria saw regular gasoline fall seven cents to an average of $2.29, while Lorain and Oberlin averaged $2.24 and $2.42 respectively on Friday.
MENTIONED IN THIS ARTICLE
Elyria
American Automobile Association
Tehran
Iran
Nnreat
AAA
Loraly
Oberlin
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Kristen Hays
AP Business Writer
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