Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

WASTE TECHNOLOGY REPORTS QUARTERLY LOSS

Waste Technology Corp. reported a net loss of $28,171 on sales of $1.69 million for the second quarter ended April 30, compared with earnings of $23,189 on sales of $1.72 million the previous year.

Jacksonville-based Waste Technology, which makes balers and other recycling equipment, had net income of $11,056 on sales of $3.7 million for the first six months of the fiscal year.

Mark Basch/The Times-Union

LAST-MINUTE FLIERS FACE STEEPER SUMMER FARES

Last-minute business travelers and some first-class fliers will pay more this summer for domestic tickets on some of the major airlines.

Some fares at the major airlines have been creeping up in recent months largely because of persistently high fuel prices.

Delta Air Lines Inc., the nation's third-largest carrier, has raised one-way domestic fares on unrestricted first-class and walk-up coach tickets by $50, spokeswoman Chris Kelly said Thursday. Other first-class tickets were not affected.

Wednesday's move by Delta was quickly matched by United Airlines, American Airlines, Continental Airlines, Northwest Airlines and US Airways, according to spokespeople at the five carriers.

At Delta, the airline also has raised its most expensive one-way fares on domestic coach and first-class tickets to $699 and $799, respectively. Kelly stressed that the prices are not a cap, though she wouldn't say if that means they could go even higher.

Associated Press

FANNIE MAE MESS COULD TAKE YEARS TO REMEDY

Fannie Mae is in such a mess that it will take years for the mortgage giant to reform its ways and recover from an $11 billion accounting scandal, the top government official overseeing the company told lawmakers Thursday.

Fannie Mae's two top executives, testifying before the same Senate committee, said they are in the midst of a total overhaul of the government-sponsored company, which has pledged to complete by year's end the restatement of its earnings back to 2001. …

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