BRIEFCASE ECONOMIC INDEX DOWN 2ND MONTH.Byline: - Staff and Wire Services NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - A closely watched measure of future economic activity fell in July for the second consecutive month, reinforcing evidence that the nation's financial recovery is slackening. The Conference Board said Thursday that its Composite Index Composite Index A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". of Leading Economic Indicators Leading economic indicators Economic series that tend to rise or fall in advance of the rest of the economy. dropped by 0.3 percent in July, to 116.0, following a revised decline of 0.1 percent in June. That was the first time in more than a year that the index had lost ground. The index is closely followed because it is designed to forecast the economy's health over the coming three to six months. Also Thursday, the Labor Department reported that the number of Americans filing new claims for unemployment insurance dipped by 3,000, to 331,000, last week. That marked the third consecutive week of decline in claims. Mortgage rates continue falling WASHINGTON - Mortgage rates declined again this week with 30-year mortgages remaining below the 6 percent level for a third consecutive week, Freddie Mac reported Thursday. The mortgage giant said its latest nationwide survey showed that rates on 30-year, fixed-rates mortgages fell to 5.81 percent this week. That's down from the average rate of 5.85 percent last week and is the lowest level for 30-year mortgages in more than four months, since they averaged 5.79 percent the week of April 8. Rates on 30-year mortgages hit a high this year of 6.34 percent the week of May 13. Since then, they have slowly drifted downward, reflecting a significant slowdown in economic activity in the late spring and early summer. Analysts said the weakness in growth was easing investors' fears that inflation will suddenly worsen and make their bond holdings worth less. US Airways boss denies shutdown PHILADELPHIA - US Airways Group US Airways Group Inc. NYSE: LCC is the Tempe, Arizona-based airline holding company that operates US Airways, US Airways Express and America West Airlines. It also operates additional companies that provide associated services. Inc. Chief Executive Officer Bruce R. Lakefield tried to reassure employees and customers Thursday that the financially troubled airline was not on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of shutting down, despite that threat from its chairman. Lakefield was responding to David Bronner's comments earlier this week that the airline could be liquidated if it didn't get contract concessions from its labor unions in the next 30 days. Bronner said the pension funds he runs, Retirement Systems of Alabama Retirement Systems of Alabama is the administrator of the pension fund for employees of the state of Alabama. It is headquartered in Montgomery, Alabama. David G. Bronner is the chief executive officer. , had no intention of investing any more than the $240 million they already have put into US Airways. The Alabama funds own the controlling stake in the airline. ``While Chapter 11 is a possibility, the talk of an imminent shutdown, a disruption of service, or impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. liquidation is simply not true,'' Lakefield said in a letter distributed to employees Thursday. Ex-CEO Skilling a Habitat helper HOUSTON - Former Enron CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jeffrey Skilling is working for Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife. to fulfill a community service requirement that allows him to remain free on $5 million bond pending trial, his lawyer said Thursday. Skilling, 50, is working in a warehouse and a supply outlet store run by Houston's branch of the volunteer group, which builds and restores homes for low-income families, his lead trial attorney, Daniel Petrocelli, confirmed. Skilling has pleaded not guilty to nearly three dozen counts of conspiracy, fraud and insider trading stemming from Enron Corp.'s 2001 crash. |
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