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December 2, 2008 9:59:59 PM CST

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 Delta, Northwest
 Approve Merger 

Execs forging ahead without pilot approval

New York Times New York Times Apr 14, 08 7:17 PM CDT
(Newser) - Delta and Northwest Airlines execs agreed today to merge their companies into the world's largest airline, the New York Times reports. Delta CEO Richard Anderson will lead the new company, called Delta, if Northwest shareholders approve the transaction. The $3.1 billion deal would give Northwest shareholders 1.25 Delta shares for each outstanding Northwest share, a 17% premium from Monday's closing prices. More »

More about:  merger • United Airlines • fuel costs • Northwest Airlines • Continental Airlines • Delta Airlines

Kite Ship's Maiden Voyage
a Success

Sails allowed cargo vessel to use 20%
less fuel during trip

Earth2Tech.com Mar 20, 08 8:58 PM CDT
(Newser) - Environmental concerns might get shipping companies to go back to the future, Earth2Tech.com reports, after a cargo vessel recently used 20% less fuel than normal on a 12,000-mile journey by a kite-like sail. The EU contributed $1.9 million to help rig the Beluga SkySails with the 1,700-square-foot contraption, used on a trek from Germany to Venezuela, the US, and Norway. More »

More about:  carbon emissions • fuel costs • shipping • wind power • kites

 Delta Will Slash 2K Jobs  

Firm will offer voluntary severance to 30,000 employees

Atlanta Journal-Constitution Atlanta Journal-Constitution Mar 18, 08 2:02 PM CDT
(Newser) - Battered by skyrocketing fuel prices, Delta Air Lines will eliminate 2,000 jobs to cut costs, the Atlanta Journal-Constitution reports. With oil prices driving the airline’s fuel expenditures $900 million higher than expected, the carrier will offer buyouts to some 30,000 employees, aiming to cut 1,300 flight attendant and agent positions in addition to 700 administrative jobs, mostly through voluntary severance and hiring freezes. More »

Consumer Spending Stalls Again

Confidence is falling as inflation rises

Bloomberg Bloomberg Feb 29, 08 12:03 PM CST
(Newser) - Consumer spending rose more than expected in January—but only because prices did so as well, Bloomberg reports. Adjusted for inflation, spending remained flat for the second straight month. With fuel costs rising, banks restricting loans, and property values falling, “consumers are clearly hard-pressed to maintain their standard of living and are cutting back,” says an analyst. More »

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