| US Airways To Cut More Pittsburgh Jobs; Lawmakers Unhappy
A pair of lawmakers frustrated with US Airways' recent decision to cut even more jobs in and more flights at Pittsburgh International Airport spoke out on Wednesday. Citing rising fuel costs and millions of dollars in losses, US Airways CEO Doug Parker said he went to Washington to explain the airline's reasons for the latest round of cutbacks in Pittsburgh. In the end, Sens. Arlen Specter and Bob Casey made it clear they didn't like what they heard. .
Business Highlights
Wall Street ended a volatile week with a late-day comeback Friday after investors set aside some concerns about the banking sector and the health of the overall economy. Stocks began Friday's trading having fallen in six of the prior seven sessions as investors fretted about whether consumers would succumb to higher energy prices, rising mortgage costs and an anemic dollar. Continuing credit turmoil has also stirred concerns about the soundness of corporate balance sheets and profits. .
Bank sees $US3b debt write-down
Bank of America Corp, the second-largest US bank, has said it expects to write down $US3 billion of debt in the fourth quarter, as fallout from the nation's housing slump deepens. The pretax loss stemmed from collateralised debt obligations, including those tied to riskier subprime mortgages, and could grow if market conditions worsened, Chief Financial Officer Joe Price said at a Merrill Lynch & Co banking and financial services conference. Price said Bank of America is setting aside more money for housing-related losses, including to homebuilders, and to money market mutual funds that may be exposed to risky debt. The bank nevertheless considers the losses "manageable," he said. Shares of the Charlotte, North Carolina-based bank rose, as some analysts had projected an even larger write-down.
El Cajon Police Turn To Web To Eliminate Prostitution
The El Cajon Police Department, which last month started posting on its Web site images of women on "Geo-probation" due to prostitution arrests, has added a batch of johns to the page, a sergeant said Wednesday. "Geo-probation" means people convicted of certain place-related crimes are banned from those areas. In the case of prostitutes, it usually means cheap motels or streets known for prostitution. The 16 johns posted on the Web site range from 23 to 58 years old and have been convicted of soliciting prostitutes in the city, said El Cajon Police Sgt. Frank LaHaye. .
Secured card a good way to get started in the credit game
With the holiday shopping season upon us you can expect more people to turn to the Internet in search of bargains. But before you do, you really need to have a credit card. Unfortunately, some people can't get one either because they don't have any credit or because they have bad credit. But there's something you can do. Many local banks offer something called a secured credit card, which offers the same safety and security as a regular credit card. That's something you can't always get when you pay with a check or debit card. The amount you can charge on your credit card depends on how much you put into a savings account with the bank. "You would secure your limit with a balance which is tied to your savings account," said Kristel Johnson of Fifth Third Bank.
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