Newspaper article The Florida Times Union
RAYONIER TEAMS ON FLAGLER COUNTY PROJECT
Rayonier Inc. Thursday announced it is teaming up with Atlanta-based Cousins Properties Inc. to master plan and entitle about 6,300 acres in Flagler County, adjacent to Palm Coast.
The land is owned by Jacksonville-based Rayonier's real estate development subsidiary, TerraPointe LLC. Rayonier owns 2.6 million acres of land, mainly for timber. But it has been seeking to develop about 200,000 acres between Savannah and Daytona Beach.
Rayonier, which did not announce any details of the Flagler County development, said the agreement is part of its strategy to work with premier developers to create communities on those 200,000 acres.
Mark Basch/ The Times-Union
UNITED AIRLINES RAISES FARES 3 TO 5 PERCENT
United Airlines, the second-largest U.S. carrier, raised nearly all its domestic airfares by 3 to 5 percent Thursday as it struggles to cope with soaring fuel costs.
The widespread increase is the third in a row initiated by United in just over two weeks, and will likely entice other carriers to follow suit. The Chicago-based carrier's last two attempts were quickly matched by competitors and remain in place in many markets.
United spokeswoman Robin Urbanski said the increase, which applies everywhere in the U.S. except to and from Hawaii, is "part of our effort to pass on increases in our commodity costs that will help offset the significant and rapid rise in fuel."
The move comes just two days after Delta Air Lines Inc. Chief Executive Richard Anderson said domestic carriers need to raise tickets 15 to 20 percent just to break even at existing fuel prices. United parent UAL Corp., Delta and other major carriers reported billions of dollars in combined quarterly losses in recent days.
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