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Retail Sales
Retail sales rose in February, the government said Friday, surprising economists who expected a decline.
The Commerce Department said total retail sales edged up 0.3% to $355.5 billion last month. Economists surveyed by Briefing.com had anticipated that February sales would drop 0.2%.
February's increase showed that Americans were still making it to the stores despite the snow and cold weather last month and customers were splurging on electronics for the Super Bowl, said Chris Donnelly, a senior executive at consulting firm Accenture.
February retail sales jumped 3.9% compared to the same month in 2009.
Mar 12 · 12:28:00 PM · Source: CNN Money
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by Michael Oliveto
AMR (AMR)
AMR (NYSE:AMR), parent company of American Airlines and American Eagle, faces a possible strike after its biggest labor bloc, the Transport Workers Union, asked federal mediators to declare a deadlock in contract negotiations, according to Investors.com. The carrier's flight attendant union said last week it'll do the same. AMR contends that talks are progressing.
In addition to the the failing talks with the TWU and the flight attendant's union, the airline's CFO Thomas Horton acknowledged that American and its pilots' union are "far apart" on a new labor contract, with American arguing that its labor costs are higher than those of rival carriers. Horton said American wants its pilot costs to be "competitive." The 2 sides are currently in negotiations overseen by a federal mediator. Fighting a war on three fronts does not leave American with the ability to really look at what is the real cost of flying. If the legacy carriers want to be competitive, it's time they reinvented and redesign their models and take the consumer into account and not just charge for everything to make-up costs due to their stuck-in-the-mud thinking.
Mar 12 · 11:46:00 AM · Source: Investors.com
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by Steve Wieczorek
Citigroup (C)
On Bloomberg this morning, Citigroup Inc. CEO Vikram Pandit said the Treasury Department will be free to sell its 27% stake in the bank starting next week and that he “wouldn’t be surprised” if the government were considering a sale. “I wouldn’t be surprised if they would actively think about something,” given where the stock is trading, he said.
The stock closed yesterday @ $ 4.18. The past few days have seen massive volume, an average of 1.2 billion shares. The Treasury was caught napping last October when the stock traded @ $5.00. They could have made a move to sell it all then, for a $13 billion profit!
Mar 12 · 8:28:00 AM
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by Jerry Byrne
Southwest Airlines (LUV)
Southwest Airlines Cargo was recognized as the top airline in the world in Air Cargo World's annual Air Cargo Excellence (ACE) Survey released today. Rated against 84 airlines, Southwest Airlines (NYSE: LUV) earned the highest overall airline score, led all airlines in the Performance and Value categories, and received the highest honor, the Diamond Award.
The Air Cargo Excellence Survey, established five years ago and published annually by Air Cargo World, acknowledged Southwest Airlines Cargo for achievements in air cargo excellence in four key areas: Customer Service, Performance, Information Technology, and Value.
Mar 11 · 3:22:00 PM · Source: Company Press Release
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by Steve Wieczorek
PATRIOT COAL CORPORATION (PCX)
Patriot Coal Corporation (NYSE: PCX) says it has resumed operations at the Federal No. 2 mine near Fairview, West Virginia. Operations at the mine were suspended on Friday, March 5 when the Company found an air quality measurement to be out of compliance with its ventilation plan. Alterations to the Company's ventilation plan have been approved by the U.S. Department of Labor, Mine Safety & Health Administration and the West Virginia Office of Miners' Health, Safety and Training. Air quality measurements are in compliance with the Company's approved ventilation plan.
A seemingly routine compliance issue, but one that might have caused problems if the response had been delayed. The upshot is that potential demerits were avoided, and perhaps even brownie points gained from regulators for the prompt response.
Mar 9 · 12:29:00 PM · Source: Company Press Release
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by Jeffrey Epstein
Spectra Energy (SE)
Spectra Energy Partners, LP (NYSE: SEP) today announced it has signed a precedent agreement with the Tennessee Valley Authority (TVA) for an expansion of its East Tennessee Natural Gas (ETNG) pipeline system to provide firm transportation services of up to 150 million cubic feet per day (Mmcf/d) to TVA's proposed 880-megawatt combined cycle, natural gas-fired power plant in northeast Tennessee.
The scope of the Northeast Tennessee (NET) Project, which has an estimated
capital cost of $135 million, includes expanding or modifying existing
facilities on the ETNG system and building a new, 8.5-mile mainline extension
that would generally follow TVA's existing transmission line corridor. The use
of existing utility corridors and pipeline rights-of-way, where possible, will
minimize the effects on landowners and the environment.
The new pipelines would increase natural gas transmission capacities. Project is subject to approval by the company board of directors, and by regulators.
Mar 9 · 12:20:00 PM · Source: Company Press Release
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by Jeffrey Epstein
Kinder Morgan Energy Partners, L.p. (KMP)
Fayetteville Express Pipeline, L.L.C., today announced that construction has
begun on the Fayetteville Express Pipeline (FEP), a 50/50 joint venture between
Energy Transfer Partners, L.P. (NYSE:ETP) and Kinder Morgan Energy Partners,
L.P. (NYSE: KMP). The approximately 185-mile, 42-inch natural gas pipeline will
serve the Fayetteville Shale producing region in Arkansas with an initial
capacity to transport up to 2 billion cubic feet per day.
Mar 9 · 12:13:00 PM · Source: Company Press Release · Related: ENERGY TRAFER PARTNERS
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by Jeffrey Epstein
Republic Airways (RJET)
Republic Airways (NASDAQ:RJET), the new owner of Midwest Airlines has added almost 400 jobs in Milwaukee since last October, according to WHBL.com. That’s approximately half the 800 total jobs that Republic Airways promised to add by the end of this year. However, it still doesn’t come close to replacing the 2,600 jobs Midwest has dropped since the start of 2008.
Republic says it has 1,140 employees in Milwaukee and nearby Oak Creek. The new jobs are designed to boost Midwest’s market share in Milwaukee, which has dropped from 50 percent to around 35 percent.
Mar 9 · 12:05:00 PM · Source: WHBL.com
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by Steve Wieczorek
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