AeroMexico upgrade Tucson flights; nation still losing jobsby Tucson Citizen on Jul. 04, 2008, under Edge, Local
jet for TIA-Sonora flights
AeroMexico Connect will upgrade to a 50-passenger Embraer regional jet beginning Monday for its daily service between Tucson International Airport and Hermosillo, Son.
AeroMexico Connect, formerly known as Aerolitoral, is the only carrier at TIA offering nonstop service to Mexico.
The flight departs Hermosillo at 10:50 a.m. and arrives in Tucson at 11:40 a.m. It departs Tucson at 1:35 p.m. and arrives in Hermosillo at 2:25 p.m.
Citizen Staff Report
U.S. firms eliminate 62,000 jobs in June
WASHINGTON – The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year’s July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future.
Weighed down by energy prices and the housing crisis, employers laid off workers in stores, factories and forsaken building sites.
With more job cuts expected in coming months, there’s growing concern that many people will pull back on their spending later this year when the bracing effect of the tax rebates fades, dealing a dangerous setback to the shaky economy. These worries are rekindling recession fears.
In June alone, employers got rid of 62,000 jobs, bringing total losses so far this year close to a staggering half-million – 438,000, according to the Labor Department’s report released Thursday. The economy needs to generate more than 100,000 new jobs a month for employment to remain stable.
The Associated Press
Chrysler may have
to file for bankruptcy
DETROIT – Faced with soaring gas prices, a sputtering economy and a rapid U.S. market shift away from trucks, the U.S. auto industry’s weakest player, Chrysler, may have to file for bankruptcy or sell its storied Jeep and Dodge Ram brands as early as next year, JPMorgan said Thursday.
But rivals GM and Ford are likely to get through the rough patch and turn a profit in 2010.
JPMorgan auto analyst Himanshu Patel dismissed the possibility of an imminent bankruptcy at GM, saying in a conference call with investors and media that such fears “are completely overblown.” The day before, GM shares slid to a 54-year low after Merrill Lynch auto analyst John Murphy wrote in a note to investors that a GM bankruptcy “is not impossible if the market continues to deteriorate and significant incremental capital is not raised.”
Patel said the situation at Chrysler LLC is far more perilous because it has limited assets to raise cash and is more heavily reliant on trucks and on the North American market. Chrysler sales fell 22 percent in the first six months of this year.
The Associated Press