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Here’s some good news today concerning job cuts around the country.
"The pace of announced job cuts slowed down last month by 15.5%, nearly 191,000 job cuts have been announced so far this year, nearly 5% below the first 2 months of 2005. The biggest cuts came in the auto sectors and governments, but the Telecom and some manufacturing sectors are improving."
CNN’s Susan Lisovicz.
Lots of news concerning the airline industry today. Northwest Airlines continues to try to work out a deal with their pilots union. They reached a deal with their flight attendants yesterday, which included a pay cut. Delta, however, is not faring as well with negotiations. They and their pilots union did not reach a deal in the latest round of negotiations which means an arbitration panel has now stepped in. These moves may likely cause fares to increase which is the way to go, says Cheapseats.com airline expert Terry Trippler.
Terry Trippler: Well, they're going to have to have these, these wage cuts as No.1, but they definitely have to increase revenue, they can not be selling tickets at less than the custom to operate.
But Trippler says that could be a gamble since there’re passengers who won’t fly because of price increases. American Airlines is now flying from Love Field for the first time in 5 years, raising the stakes and a showdown with rival Southwest Airlines which is based at the Dallas Airport.
Vice President Dick Cheney is talking about retirement savings today at the National Summit on Retirement Savings. He says to make sure there’s enough for you to retire on. American should start saving for retirement as soon as they start working.
Dick Cheney: Power of compound interest is even greater when people start saving early. Yet a lot of American families live pay-check to pay-check, often finding that it's the same goes too much months at the end of the money.
Mr. Cheney says retirement savings are crucial since the social security system is in peril.
With CNN Radio Marketplace, I’m Michelle Wright
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