Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Will Kiwi Fly Again, Or Not?

The $5 million reprieve given to struggling Kiwi International Air Lines Inc. Tuesday comes from a company with no revenue and no assets.

The recent Securities and Exchange Commission filings of Wasatch International Corp., the possible provider of $5 million in loans to Kiwi, show that in 10 years, the company has conducted essentially no business. No details were offered as to how Wasatch might raise the $5 million, which would be earmarked to keep Kiwi going during bankruptcy. Joe Logan Jr., recently appointed president and chief executive of Wasatch, wouldn't comment on how the company might come by the money. A Kiwi spokesman, said, "We have no comment one way or another on (Wasatch's) financial fitness or their wherewithal. We do feel very confident that they will put Kiwi back in the air." Dow Jones News Service Milken Agrees To Extend His Probation Michael Milken has agreed to a six-month extension of his probation while the Securities and Exchange Commission continues to investigate whether he is complying with a ban from the securities industry. Milken and prosecutors from the U.S. Attorney's Office in New York are submitting the probation agreement to U.S. District Judge Kimba Wood. Milken's probation was scheduled to expire Friday, after three previous extensions. Bloomberg Homeownership Rate Highest In 15 Years The U.S. homeownership rate climbed to its highest level in 15 years in the third quarter as 66.3 million American households now own their own homes, the government announced Tuesday. It said the percentage of American households that own their own homes rose to 65.6 percent in the third quarter from 65.4 percent in the second. That marked the tenth straight quarterly rise and brought the homeownership rate to its highest level since the third quarter of 1981. …

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