Leaders of the deal between American Airlines and US Airways decided early on that they would only proceed as long as they had the backing of American employees. The two sides believe they would receive regulatory backing for a merger. The new company is to be called American Airlines and based out of Fort Worth, Texas.
According to Algerian news sources, some 30 Algerians and 15 foreigners have escaped the natural gas field, and another 35 hostages have reportedly died in an airstrike.
Notes of optimism at Detroit auto show and stronger home sales and housing starts suggest recovery is gaining strength. But a return to normal will have to wait until 2014.
General Motors stake owned by the US treasury will be sold over the coming year, assuring a multibillion-dollar loss for the federal government. General Motors will buy back $5.5 billion in shares, and the Treasury will have to sell the rest of the stock at a high price in order to break even on the $50 billion bailout GM received.