BRIEFCASE.Byline: - Staff and Wire Services Pacoima credit union operating PACOIMA - In anticipation of occupying its permanent home in a former pawn shop a shop where a pawnbroker does business. - Shak. See also: Pawn , the Pacoima Federal Development Credit Union opened for business on Friday. Operating from a temporary location at 12502 Van Nuys Blvd, Suite 119, the credit union offers loans and banking services to community members of the northeast San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , members of the Pacoima Chamber of Commerce and Valley Industry and Commerce Association. Hours are 10 a.m. to 4 p.m. Monday through Thursday, with a 6 p.m. close on Friday. For more information, call (818) 485-0963. America's deficit improves slightly WASHINGTON - America's deficit in the broadest measure of international trade showed a slight improvement in the April-June quarter, although it was still at the second-highest level in history. The Commerce Department reported that the deficit in the U.S. current account totaled $195.7 billion in the second quarter. That was down 1.5 percent from the deficit in the first three months of this year - $198.7 billion - which was the all-time high. Even with the slight improvement, America is on track to surpass last year's record current account deficit of $668.1 billion. While the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. so far has not had any trouble attracting the foreign money needed to finance this deficit, economists worry that at some point foreign investors will no longer want to hold such sizable sums of dollar-denominated assets. OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its cuts price of crude oil to $63 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 - Crude-oil prices dropped to $63 a barrel Friday after OPEC reaffirmed traders' belief that the high retail price of gas is driving away consumers. Light, sweet crude oil Sweet crude oil is a type of petroleum. Petroleum is considered "sweet" if it contains less than 0.5% sulfur[1], compared to a higher level of sulfur in sour crude oil. Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. for October delivery fell $1.75 to settle at $63 a barrel on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. . Heating oil slumped more than 7 cents to $1.8370 a gallon, and gasoline dropped more than 11 cents to settle at $1.7851 a gallon. October Brent crude futures on London's International Petroleum Exchange fell $1.85 to settle at $61.81 a barrel. Crude-oil prices are 1.7 percent off week-ago levels, while heating oil is 3 percent lower and gasoline is down nearly 9 percent. Gas prices at the pump are slowly following suit - the average price of a gallon of unleaded gas was $2.89 on Friday, down from $2.92 the day before and the all-time high of $3.06 reached Sept. 5, according to Oil Price Information Service. US Airways gets merger approval ALEXANDRIA, Va. - US Airways received final approval Friday to exit bankruptcy protection for the second time in three years and merge with America West Holdings America West Holdings Corporation is an Arizona-based company owned by US Airways Group Inc. Its primary holding is America West Airlines. America West's corporate offices in Tempe are housed in one of the first commercial high-rise buildings constructed in the downtown Corp. The ruling allows the airline to be purchased by America West, the nation's eighth-largest airline, as soon as Sept. 27. U.S. Bankruptcy Judge Stephen Mitchell approved the airline's reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. - of which the merger is the centerpiece - after allowing the airline to provide $12 million in severance pay Severance Pay Compensation that an employer gives to someone who is about to lose their job. Notes: Severance pay is not always paid to employees. It depends on the situation in which the employee is losing their job and whether legislation requires severance to be paid. to 11 executives who will not be given jobs at the merged airline. Unions had said the package was excessive given the cut in pay and benefits absorbed by rank-and-file workers. US Airways Chief Executive Bruce Lakefield said after Friday's hearing that US Airways' management team salvaged an airline and 29,000 jobs that many people had written off when the carrier filed for bankruptcy in September. He said US Airways is now well-positioned in an industry that he believes has finally come to grips with the need to increase ticket prices to counter the rising price of jet fuel. |
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