The Pit Papers 11/3/04

US Airways management lied to the airport authority? I'm shocked. Shocked, I tell you. Round up the usual suspects. :shock:
 
Since we're posting newspaper articles here's one from the Associated Press.

_By AP Business Writer Bruce Meyerson

TRANSPORTATION

Bush wants to keep funding for highways and Amtrak relatively limited, and both he and the Republican majority in Congress seem unwilling to offer any more financial assistance to the ailing airline industry.

Bush wants to spend $256 billion on highways over the next six years, about $60 million less than Kerry said he would seek. Bush has proposed spending $900 million on Amtrak, about 30 percent less than Kerry, and privatizing parts of the financially struggling railroad. He would also like to eliminate the railroad's unprofitable long-distance lines.

As for the airline industry, the Bush administration supported $10 billion in loan guarantees and $5 billion in emergency funding after the Sept. 2001 terrorist attacks, though no further bailout is expected.

Executives from major airlines, including Continental Airlines Inc.'s Gordon Bethune, have complained about having to pay too much for airline security as well as jet fuel, whose price they contend has been inflated by the Bush administration's policy of continuing to fill the government's Strategic Petroleum Reserve.

But the Bush administration has supported easing the industry's pension burden. Last spring, new legislation allowed for a two-year interest-rate adjustment that would let businesses pay less into their workers' retirement plans. In addition, airlines were given a two-year reprieve that let them only pay 20 percent of what they are currently required to contribute.

Airline employees say Bush has been bad for them by cutting funding for the federal air marshal program and diluting security training for flight attendants.
 

Latest posts

Back
Top