Business Briefs: US Airways, attendants reach contract agreement
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US Airways Group Inc. and the union for its 6,800 flight attendants reached a contract agreement that would unite workers from two carriers almost seven years after they merged. Details of the tentative accord won't be made public before they are outlined to members of the Association of Flight Attendants-CWA, the union said in a statement Wednesday. The workers still must vote on the agreement. US Airways and America West Holdings Corp. combined in 2005.
The price of gasoline in Western Pennsylvania went up this week, rising 9 cents to hit an average cost of $3.601 for a gallon of regular unleaded. The price for a comparable gallon nationwide was $3.634, according to AAA's Fuel Gauge.
The percentage of U.S. homeowners who have fallen behind on their mortgage payments fell to a three-year low, credit reporting agency TransUnion said Wednesday. Some 5.49 percent of the nation's mortgage holders were behind on their payments by 60 days or more in the April-to-June period, the agency said. That's the lowest level since the first quarter of 2009.
U.S. companies got slightly more out of their workers this spring after scaling back on hiring. The modest 1.6 percent annualized gain in productivity from April through June signals employers may need to hire more if demand picks up. The Labor Department said Wednesday that the increase followed a 0.5 percent decline in the January-March quarter, less than first estimated. Productivity is the amount of output per hour worked.
• Calgon Carbon Corp. saw net income slip 4 percent in the second quarter on sales that rose 10 percent as the Robinson-based company's new CEO announced that a cost-cutting plan was underway intended to save about $10 million annually starting in 2013. The plan includes an early retirement offer and unspecified number of job cuts, a spokeswoman said Wednesday. Net income was $10.9 million, or 19 cents per share, in the June quarter vs. $11.3 million, or 20 cents, last year. Sales were $148.4 million, up from $135.3 million. The water and air purification company was being hurt by the weak global economy, rising costs and delays in implementing environmental regulations, said CEO Randy Dearth, who took over for John Stanik Aug. 1.
• L.B. Foster Co. reported a second-quarter net loss of $2 million, or 31 cents per share, compared to profit of $6.3 million for the second quarter a year ago. Analysts expected the Green Tree-based railroad supply manufacturer to earn 80 cents for the quarter. Second-quarter net sales of $164.9 million decreased by $6.6 million compared to sales of $171.5 million the second quarter of 2011.
From staff and wire reports
First Published August 9, 2012 12:00 am