Word: bailouts
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...September 11, being small suddenly became a huge advantage in the airline business. While the major carriers focused largely on a $15 billion financial bailout and convincing Congress to take over the costs of airport security, small airlines went to work on on-board safety. Given their tiny fleets, enthusiastic employees and more nimble management, micro-carriers like JetBlue Airways and Frontier Airlines were able to have entirely redesigned, and reinforced cockpit door designs within two weeks. Officials from both airlines tell TIME that they are also making plans to install hidden cameras to monitor the passenger cabin from...
...sign that Washington, like the rest of the country, is beginning to get back to normal. While the two parties acted more like one in the first weeks after the terrorist bombing--speedily authorizing Bush to use force, passing $40 billion in emergency disaster relief, approving a $15 billion bailout for airlines--last week they were back to their old bickering. Senate majority leader Tom Daschle branded the Republicans "obstructionist" for their opposition to airport-security legislation. Attorney General John Ashcroft and Senate Judiciary Committee chairman Patrick Leahy blamed each other for holding up antiterrorism legislation. And House Ways...
...parties believe there have been far too many deals coming out of cozy bipartisan sessions like the meeting last week in Hastert's office. "House Republicans and House Democrats are both gagging on this," says G.O.P. strategist Ed Gillespie. Liberals in the House are livid Gephardt agreed to a bailout, promoted by Republican Senate minority leader Trent Lott among others, that helped airline shareholders without doing anything for laid-off workers. And conservatives went into revolt when Hastert nearly signed on to the idea of making 20,000 airport security workers federal employees. "Both Gephardt and Hastert are catching hell...
...jobs, or 12% of the workforce. The package of cuts will let Alitalia bring losses down from an estimated $350 million to $150 million in the half-year ending in March. The government has promised Italian carriers - Alitalia and a handful of private lines - a bailout of up to $200 million to reduce airport taxes and help pay for heightened security...
...economy, Washington has decided that keeping the wobbly airline industry aloft is a matter of national security. Letting Alan Greenspan decide how to dole out the $10 billion should ensure a thoughtful distribution. But it?ll be up to Congress to decide whether they want this bailout to be a one-time rescue - or the beginning of a serious welfare addiction...