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Labor woes worsen at American Airlines

Wednesday, September 19, 2012 - 15:24 Joe Raedle/Getty Images American Airlines employees help travelers at the ticket counter in the Miami International Airport on September 18, 2012 in Miami, Florida. American Airlines is hitting some strong turbulence as it makes its way through bankruptcy reorganization, toward a possible merger with U.S. Airways. Tense relations between the carrier and its labor unions seem to be catching passengers in a morass of late and canceled flights. Widespread flight delays are being reported just as American's parent company, AMR, is sending layoff warning notices to more than 11,000 employees. The notices mean the workers could lose their jobs within the next two months. Up to 6 percent of the carrier's flights have been canceled in the past few days, while as many as six in ten of its remaining planes have arrived late. Union pilots had already accused the carrier of using the bankruptcy process to wring out "punitive" cost-cutting concessions. Now, Allied ...

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Positive signs emerge in the housing market

Wednesday, September 19, 2012 - 07:21 Tom Pennington/Getty Images for TMS Housing starts were up 2.3 percent last month. Slow but steady might be the best way to describe the housing market right now. Groundbreaking on new home construction rose 2.3 percent last month to a seasonally adjusted; up almost 30 percent from one year ago. That was less than expected but still movement in the right direction. "One of the things you see early on is positive expectations going forward and you’re seeing some of that in the homebuilders and house prices in many markets in many corners have turned a market," says Ron Throupe, a real estate and construction professor at the University of Denver. Homebuilder confidence jumped to a six-year high in September, and recoveries are underway in Northern California, New York, Pheonix and parts of Florida, just to name a few markets. But it will likely continue to be a slow climb to a full recovery. "I wouldn’t exactly break the champagne on that yet," says ...

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PODCAST: Teachers' strike ends, housing market looks hopeful

Wednesday, September 19, 2012 - 09:32 Tom Pennington/Getty Images for TMS Housing starts were up 2.3 percent last month. The U.S. housing market: blooming... if not booming. U.S. existing home sales in August hit the highest level in more than two years -- up almost 8 percent. And home-builders started 750,000 houses last month (that's the seasonally adjusted number). It's up 2.3 percent from the month before and up almost 30 percent from a year ago. American Airlines is warning about 11,000 workers of possible job losses as a result of restructuring after the company filed for bankruptcy. Meanwhile, the Wall Street Journal this morning took a look at American's flight performance for the first few days this week, and it's bad: a third to half of their flights are arriving late. This week, American is also phasing in new work rules its pilots don't like much but the pilots' union denies its members are engaging in a work slow-down. It's back-to-school today in Chicago. In the next couple ...

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PODCAST: SCOTUS makes a decision

Today, the U.S. Supreme Court ruled on health care. We speak to former U.S. Senate Majority Leader Tom Daschle on how the decision will change the course of the country -- one way or another. Thirty million uninsured Americans have a stake in the ruling, and so do all 50 states. And in tonight's NBA draft, potential draftees have been learning how to present themselves in the business world to help their chances.

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