BRIEFCASE HIGH-VALUE HOMES REACH HIGH MARK.

Byline: - From Staff and Wire Reports

Homes in the Los Angeles area valued at more than $1 million rose to their highest levels in nine years during the third quarter, First Republic Bank reported Tuesday.

According to the bank's Prestige Home Index, which has been tracking higher-value homes since 1985, the average value of such homes in the Los Angeles area is $1.31 million, a 2.4 percent increase over the second quarter.

The last time the index reached that level was in 1992, when the average value of a luxury home locally was $1.49 million.

Glendale getting new 'i-channels'

GLENDALE - Charter Communications Inc. announced Tuesday the launch of an interactive digital TV service in Glendale featuring six virtual ``i-channels.''

Developed jointly by Charter and digeo inc., the channels provide on- demand national and localized news and information at no extra charge to Charter Digital Cable customers.

The service ``delivers on the promise of interactive television and demonstrates the incredible capacity and power of broadband and what it can mean for customers now and in the future,'' said Steve Silva, Charter's executive vice president and chief technical officer.

Drop in air fares fails to fill seats

Air fares dropped 19.2 percent last month compared with October 2000, according to the Air Transport Association's Office of Economics.

Cheaper fares didn't put more customers in the seats, though. Domestic passenger traffic was off 22 percent, and the number of people flying internationally on domestic airlines fell 31 percent in October, the airline trade association said.

Retail sales to feel confidence drop

NEW YORK - Worries about job security undermined consumer confidence again in November, raising the likelihood that retailers would fall short of the bonanza they had hoped for during the holidays.

The New York-based Conference Board said Tuesday that its Consumer Confidence Index unexpectedly fell for a fifth consecutive month to 82.2 - a new 7 1/2 year low - from a revised 85.3 in October. Analysts had forecast an increase to 86.5.

Analysts said the drop in confidence likely would result in tepid retail sales in the coming weeks. Holiday sales account for 24 percent of retailers' annual revenue.

The index, based on a monthly survey of some 5,000 U.S. households, is closely watched because consumer confidence drives consumer spending, which accounts for about two-thirds of the nation's economic activity.

US Airways exec suddenly resigns

NEW YORK - The president and chief executive of US Airways, the nation's sixth-largest carrier, unexpectedly resigned Tuesday and the company said Chairman Stephen Wolf would take over both positions.

The Arlington, Va.-based carrier, which has struggled all year long and whose proposed merger with United Airlines fell apart, said Rakesh Gangwal quit to pursue a career in venture capital. Gangwal joined US Airways in February 1996 after stints at Air France and United Airlines.

Analysts described the management shake-up as a needed change for the embattled carrier, which lost $766 million in the third quarter and continues to lose millions of dollars each day because of weak travel demand.